Common use of Termination Dispute Resolution Clause in Contracts

Termination Dispute Resolution. In the event the Authority terminates the Agreement on account of any of the specified defaults of the Contractor, the Agreement allows the Authority to forfeit the performance security of the Contractor. Similarly, defaults by the Authority are proposed to qualify for adequate compensatory payments to the contractor. The Agreement also addresses issues relating to dispute resolution and provides a mechanism for the same. ******* Part I Preliminary ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT THIS AGREEMENT1 is entered into on this the ……….. day of ………, 20….. BETWEEN 1 [The President of India, represented by ***, *** Railway, [Delhi], and having its principal offices at ******, [Delhi 110001]] (hereinafter referred to as the “Authority” which expression shall, unless repugnant to the context or meaning thereof, include its administrators, successors and assigns) of One Part; AND

Termination Dispute Resolution. In the event the Authority Government terminates the Agreement on account of any of the specified defaults of the ContractorConcessionaire, the Agreement allows the Authority Government to forfeit the performance security of the ContractorConcessionaire. Similarly, defaults by the Authority are proposed to qualify for adequate compensatory payments to the contractorConcessionaire. The Agreement also addresses issues relating to dispute resolution and provides a mechanism for the same. ******* Part I Preliminary ENGINEERING, PROCUREMENT AND CONSTRUCTION CONCESSION AGREEMENT THIS AGREEMENT1 is entered into on this the ……….. day of ………, 20….. BETWEEN 1 [The President of India, represented by ***, *** Railway, [Delhi], and having its principal offices at ******, [Delhi 110001]] (hereinafter referred to as the “Authority” which expression shall, unless repugnant to the context or meaning thereof, include its administrators, successors and assigns) of One Part; AND

Termination Dispute Resolution. In the event the Authority terminates the Agreement on account of any of the specified defaults of the Contractor, the Agreement allows the Authority to forfeit the performance security & retention money of the Contractor. Similarly, defaults by the Authority are proposed to qualify for adequate compensatory payments to the contractor. The Agreement also addresses issues relating to dispute resolution and provides a mechanism for the same. ******* Part I Preliminary ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT THIS AGREEMENT1 is entered into on this the ……….. day of ………, 20….. BETWEEN 1 [The President of India, represented by ***, *** Railway, [Delhi], and having its principal offices at ******, [Delhi 110001]] (hereinafter referred to as the “Authority” which expression shall, unless repugnant to the context or meaning thereof, include its administrators, successors and assigns) of One Part; AND