Rules for drafting a framework agreement

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Provisions that must be included when drafting a preliminary agreement:

Formulation of the subject of the contract and the conditions for its achievement.

Distribution of roles between the participants of the future transaction.

The procedure for the step-by-step ecuador mobile phone numbers database approval of the procedure with the possibility of concluding additional specific contracts.

Methods of implementation and extent of responsibility of the parties.

Coordination of the financial part of the contract (cost of the product, works or services). This point should be worked out most carefully, since the pricing policy within the contract is fixed in writing. Maximum accuracy and transparency will help to avoid conflict situations with the prospect of possible claims being heard in court.

Determining the order of transactions according to existing agreements. It is important to specify the terms of settlements.

Coordination of time periods during which a particular event must be completed (service provided, cargo delivered, etc.).

A detailed list of penalties for breach or improper fulfilment of the terms of the framework agreement, which may be extended in all subsequent contracts.

Depending on the specific type of activity of the counterparties, there are different types of framework agreements: for the provision of services, transportation of goods, performance of a certain volume of work, production of goods.

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Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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