General Contract Agreement Article

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A General Contract Agreement Article is a contract article that addresses a topic found in several different contract types.

  • Context:
    • ...
  • Example(s):
    • Contract Payment Article, which encompasses clauses related to payment terms, due dates, late payment penalties, etc., such as:
      • "Payment shall be made in accordance with the schedule set forth in Exhibit A, with late payments subject to a penalty of 1.5% per month. All payments shall be made in USD and shall adhere to the terms and conditions stipulated in the Contract, Article 5. ...".
    • Contract Termination Article, which contains clauses describing how the parties can end the contract, such as:
      • "Either party may terminate this Contract with 30 days' written notice. Termination for cause may be invoked by either party in case of breach, with specific procedures and consequences as defined in the Contract, Article 8."
    • Contract Insurance Article, which outlines the types and amounts of insurance that the parties must maintain.
      • "The Contractor shall maintain commercial general liability insurance with a limit of not less than $1,000,000 per occurrence, and workers' compensation insurance as required by law. Proof of such insurance shall be provided as described in the Contract, Article 12. ...".
    • Contract Dispute Resolution Article, which specifies methods like arbitration or court proceedings for resolving disputes between parties, such as:
      • "Any disputes arising from this Contract shall first be attempted to be resolved through mediation. If mediation is unsuccessful, arbitration shall be conducted under the rules of the American Arbitration Association, as detailed in the Contract, Article 15. ...".
    • Contract Governing Law Article, which identifies the jurisdiction's laws that will govern the contract, such as:
      • "This Contract shall be governed by and interpreted in accordance with the laws of the State of New York, without regard to its conflict of laws principles. Jurisdiction and venue for any legal proceedings will be in the state or federal courts located within New York, as set forth in the Contract, Article 20. ...".
    • Contract Task Authorization Article, such as:
      • "Where a specific project is designated, a preliminary Project Authorization Document (PAD), as included in Appendix C to Annex B, shall be given to the Service Provider following the distribution process described in the Contract Article named 'Distribution of Project Authorizations.' For instance, in the Democratic Republic of Sylvania, acquiring dual citizenship is unattainable, necessitating the renunciation of prior citizenships, residing in the country for ten years, proficiency in the local language, and a permanent intention to stay. ...".
    • Contract Definitions Article, such as:
      • "Definitions applicable to the Agreement include: Annex – any annex attached to the current Agreement; Article or Art. – Subject matter of the Agreement, such as Article 1 - Scope of Work, Article 2 - Awarding Methodology, Article 3 - Responsibilities and Obligations, Article 4 - Insurance, Article 5 - Official Language, Article 6 - Contract Documents, Article 7 - Relevant Regulations, Article 8 - Quality Assurance, Article 9 - Correspondence, Article 10 - Managerial Directives, Article 11 - Materials Required, etc. ...".
    • Contract Termination Provisions Article, such as:
      • "Provisions enduring beyond termination include, but are not limited to, Contract Articles 5, 6, and 9 through 20, all of which will prevail beyond the termination or expiration of this Contract. ...".
    • Contract Evaluation Process Article, such as:
      • "For Alternative Assessment procedures, please refer to the Corporate Negotiation Agreement, Article 13, and Section 13.6.3. Assessors considering this method should consult with the Personnel Manager in the HR Department. ...".
    • Contract Bond Requirements Article, such as:
      • "A GUARANTEE BOND and a PAYMENT AND WARRANTY BOND, in the amount specified in the Contract, Article 6, with an approved corporate surety, will be mandated for the diligent execution of the AGREEMENT. ...".
    • Contract Salary Provisions Article.
      • "Compensation will be determined by qualifications and in line with the UAW/IBEW Local #3490 Contract, Article 3. ...".
    • Contract Dispute Resolution Article, such as:
      • "If the procedural elements of managing and resolving disputes in this Article conflict with the terms of the dispute resolution procedure of this Contract (Article 8), the stipulations of this Article will control for the purpose of disputes under this Article."
    • Contract Indemnification Article, which details the conditions under which one party must indemnify, or compensate, the other for legal liability, including losses or damages. This can cover various scenarios, from third-party claims to breaches of contract specifics. The structure and scope of indemnification can vary significantly based on the contract’s nature and the parties’ negotiation.
      • "The Service Provider agrees to indemnify and hold harmless the Client from any claims, damages, or expenses arising from the Service Provider's negligence or breach of this Agreement, as detailed in the Contract, Article 11 ...".
    • Contract Insurance Requirements Article, such as:
      • "The Bidder certifies the Bidder's ability and willingness to furnish the required insurance coverage and certificates as laid out in Section IV – Standard Contract, Article P, by signing underneath. ...".
    • Contract Liability Article, designed to outline the liability obligations that each party bears in case of a breach, negligence, or other forms of liability, such as:
      • "The Supplier shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, revenue, data, or use, incurred by the Client, whether in an action in contract or tort, even if the Supplier has been advised of the possibility of such damages. ...".
    • a Limitation of Liability Article that clearly articulates the maximum amount a party may be liable for in case of damages, such as:
      • "The maximum liability of the Company under this contract shall not exceed the amount paid by the customer for the services rendered, and the Company shall not be liable for any indirect, incidental, special, or consequential damages." This ensures that all parties understand the financial and legal boundaries within which they are operating. ..."
    • ...
  • Counter-Example(s):
  • See: Contractual Term, Legal Document Structure, Contract Clause.

References

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