Contractual freedom Clause Samples

The 'Contractual freedom' clause establishes that the parties to an agreement are free to negotiate and determine the terms and conditions of their contract, within the boundaries set by law. In practice, this means that the parties can customize obligations, rights, and remedies to suit their specific needs, as long as these provisions do not violate mandatory legal requirements or public policy. This clause is essential because it empowers parties to create tailored agreements that reflect their intentions and business realities, while also providing a clear framework for what is and is not permissible in their contractual relationship.
POPULAR SAMPLE Copied 1 times
Contractual freedom. This agreement does not prohibit any party from executing any agreement with any third party or another party to this agreement, relating to any business activity, alliance, project or joint venture, whether in the nature of or similar to the Alliance Activities, as decided by that party, subject to compliance with any liability of that party under any other provision of this agreement.
View SourceView Similar (5)
Contractual freedom. For the sake of clarification, it is emphasised that the General Agreement constitutes only one possible implementation of a license agreement between a publisher and Subito. Negotiation of terms and conditions of any agreement with Subito remains up to each publisher.
View Source
Contractual freedom. This Agreement will not prohibit the NZGBC from executing any agreement with any third person relating to the supply or acquisition of services or goods and/or services, whether in or similar to the Services to be provided under this Agreement or otherwise, as decided by the NZGBC.
View Source

Related to Contractual freedom

  • Contractual Rights The right to be indemnified or to receive advancement of Expenses under this Agreement (i) is a contract right based upon good and valuable consideration, pursuant to which Indemnitee may ▇▇▇, (ii) is and is intended to be retroactive and shall be available as to events occurring prior to the date of this Agreement and (iii) shall continue after any rescission or restrictive modification of this Agreement as to events occurring prior thereto.

  • SUBCONTRACTUAL RELATIONS 5.3.1 By written agreement, the Contractor shall require each Subcontractor, to the extent of the Work to be performed by the Subcontractor, to be bound to the Contractor by the terms of the Contract Documents, and to assume toward the Contractor all the obligations and responsibilities

  • Contractual Liability Liability for payments under the Plan shall be the responsibility of the:

  • Contractual Penalty If the Contractor refuses or fails to duly complete the Assignment after the Assignment Order has been awarded to the Contractor and signed in accordance with this Agreement, the Company is entitled to request the Contractor to pay a contractual penalty in the amount of 10% (ten percent) of the Fee for the respective Assignment. Should the Contractor fail to meet any of the milestones or delivery dates under any of the Assignment Orders and provided that the cause of such delay is attributable to the action or inaction of the Contractor, the Company is entitled to request the Contractor to pay to the Company a contractual penalty of 0.1% (zero point one percent) of the amount of the Fee payable for the respective Assignment for each day of delay, provided that each such contractual penalty shall not exceed 10% (ten percent) of the Fee payable for the respective Assignment. Should the Company delay any payment in accordance with Clause 5.7, the Contractor is entitled to request the Company to pay a contractual penalty in the amount of 0.1% (zero point one percent) from the delayed amount for each day of delay, provided that the total amount of such contractual penalty payable by the Company under this Clause 13.2.3 shall not exceed 10% (ten percent) of the delayed amount. The contractual penalties shall be applied upon the sole discretion of the entitled Party under the Agreement considering the material consequences of the breach. Payment of the contractual penalty shall not release the Party from performance of any of its obligations under the Agreement. FORCE MAJEURE

  • EXTRA CONTRACTUAL OBLIGATIONS In the event Retrocedant or Retrocessionaire is held liable to pay any punitive, exemplary, compensatory or consequential damages because of alleged or actual bad faith or negligence related to the handling of any claim under any Reinsurance Contract or otherwise in respect of such Reinsurance Contract, the parties shall be liable for such damages in proportion to their responsibility for the conduct giving rise to the damages. Such determination shall be made by Retrocedant and Retrocessionaire, acting jointly and in good faith, and in the event the parties are unable to reach agreement as to such determination, recourse shall be had to Article XV hereof.