Remedies Payable Sample Clauses

The "Remedies Payable" clause defines the types of financial compensation or corrective actions that one party must provide to the other in the event of a breach or failure to meet contractual obligations. Typically, this clause outlines specific remedies such as payment of damages, reimbursement of costs, or other monetary penalties, and may set forth the procedures and timelines for making such payments. Its core practical function is to ensure that parties have clear, enforceable recourse if the contract is not properly fulfilled, thereby allocating risk and promoting accountability.