Financial and Technical Capability Clause Samples
The Financial and Technical Capability clause establishes that a party must possess sufficient financial resources and technical expertise to fulfill its contractual obligations. In practice, this clause may require the party to provide evidence such as financial statements, proof of relevant experience, or certifications demonstrating their ability to perform the required work. Its core function is to ensure that only qualified and capable parties undertake the contract, thereby reducing the risk of non-performance or project failure.
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Financial and Technical Capability. Farmee has sufficient funds to enable it to fulfill all of its obligations under this Agreement. Farmee has the technical capability, personnel and resources to fulfill its obligations under this Agreement.
Financial and Technical Capability. Subject to Public Service Commission regulations and approvals Buyer will have the financial capability to consummate the transaction pursuant to the terms and conditions of this Agreement, and has the experience and technical know-how to continue to provide safe and reliable services to the customers of the Company.
Financial and Technical Capability. (AUG 2011)
A. AFTER AWARD: Within 15 days after lease award, the Lessor shall provide to the RECO (or representative designated by the RECO) evidence of:
1. A firm commitment of funds in an amount sufficient to perform the work.
2. The names of at least two proposed construction contractors, as well as evidence of the contractors’ experience, competency, and performance capabilities with construction similar in scope to that which is required herein.
3. The license or certification to practice in the state where the facility is located from the individual(s) and/or firm(s) providing architectural and engineering design services.
Financial and Technical Capability. Buyer has the financial capability to consummate the transaction pursuant to the terms and conditions of this Agreement and has the experience, expertise and technical know-how to continue to provide safe and reliable services to the customers of the Company.