Contract Type-Specific Provision
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A Contract Type-Specific Provision is a contract provision that is tailored to address specific aspects of a particular type of contract.
- Context:
- It can (typically) cater to the unique needs and circumstances of the contract type it is part of.
- It can range from being a detailed Security Deposit Refund Provision in a Rental Agreement to a complex Change Order Provision in a Construction Contract.
- It can ensure that all parties are clear about their rights, responsibilities, and the scope of agreements in specific contractual contexts.
- It can provide legal protection and clarity for standard and non-standard scenarios within the realm of a specific industry or agreement type.
- It can facilitate smoother contract management and enforcement by addressing issues specific to the contract type before they arise.
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- Example(s):
- In a Rental Agreement, provisions such as:
- Security Deposit Refund Provision - Rules for the conditions and timing of returning the security deposit.
- Rental Term Extension Provision - Options and conditions for extending the rental period.
- In an IP Agreement, specific clauses include:
- Royalty Payment Provision - Details on royalty percentages, calculation methods, and payment schedules.
- License Scope Provision - Explicit descriptions of the rights and limitations granted through the license.
- In a Procurement Contract, important provisions are:
- Delivery Date Provision - Specific deadlines for the delivery of products or services.
- Inspection Provision - Detailed process for inspecting and accepting deliverables.
- Payment Schedule Provision - Defines payment milestones tied to project completion stages.
- In a Construction Contract, provisions such as:
- Change Order Provision - Procedures for making changes to the project scope, including how these changes affect costs and timelines.
- In a Services Contract, notable provisions include:
- Payment Due Date Provision - Specifies when payments for services rendered are due.
- In a Sales Contract, key clauses are:
- Product Specifications Provision - Detailed specifications of the products being sold to ensure clarity and compliance.
- In an Employment Agreement, you might find:
- Termination Notice Provision - Required advance notice for terminating the agreement, either by the employer or employee.
- In a Vendor Agreement, relevant provisions include:
- Limitation of Liability Provision - Limits the total amount of liability a vendor may incur under the contract.
- In a Partnership Agreement, provisions could involve:
- Jurisdiction Provision - Specifies the legal jurisdiction that governs the agreement's terms and any disputes.
- Prohibition Against Subcontracting - This provision restricts the primary contractor's ability to subcontract the agreed work.
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- In a Rental Agreement, provisions such as:
- Counter-Example(s):
- General Contract Provisions, which are applicable across many types of contracts without modification.
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- See: Contract Provision, Rental Agreement, Construction Contract, IP Agreement, Procurement Contract, Services Contract, Sales Contract, Employment Agreement, Vendor Agreement, Partnership Agreement.