Common use of Financial Responsibilities Clause in Contracts

Financial Responsibilities. All financial responsibilities that will be designated as those to be paid by the member libraries will be acted upon by the Executive Committee and then mailed to the member libraries by April 1 each year with an effective date of January 1 the following calendar year. All costs will be fully determined and disclosed prior to library entities adding their records to the database and before incurring any possible charges that might be levied by Evergreen Indiana. This agreement signifies a typical investment of approximately $5000 of resources by the Indiana State Library and the Evergreen Indiana Consortium. If your library system or the Executive Committee should terminate your system’s membership, the Indiana State Library and Consortium must be reimbursed with an exit fee equivalent to 1 full year’s current membership fee, with a minimum cost of $500 and a maximum cost of $5,000, for the services and materials provided and for the extraction of a digital copy of patron, bibliographic, and item records. There will be no provision of transactional records (circulation, holds, et cetera) by the consortium to exiting members.