Special terms regarding default Clause Samples
The "Special terms regarding default" clause defines specific conditions and consequences that apply if one party fails to fulfill their contractual obligations. This clause may outline unique remedies, penalties, or procedures that differ from standard default provisions, such as accelerated payment schedules, additional interest, or immediate termination rights. Its core function is to address potential breaches in a tailored manner, ensuring both parties understand the heightened or modified consequences of default and thereby managing risk more effectively.
Special terms regarding default. If this contract is terminated under the Default clause, (i) the Contractor shall, on demand, repay to the Government the amount of unliquidated progress payments and (ii) title shall vest in the Contractor, on full liquidation of progress payments, for all property for which the Government elects not to require delivery under the Default clause. The Government shall be liable for no payment except as provided by the Default clause.
Special terms regarding default. If this contract is terminated under the Default clause,