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 &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 issuesrelating to dispute resolution and provides a mechanism for the same. PART-I PRELIMINARY ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT THIS AGREEMENT is entered into on this the day of 20 BETWEEN

Termination Dispute Resolution. In the event the Authority terminates the Agreement on account of any of the specified defaults of defaultsof 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 issuesrelating to dispute resolution and provides a mechanism for the same. PART-I PRELIMINARY ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT THIS AGREEMENT is entered into on this the day of 20 BETWEEN

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 issuesrelating issues relating to dispute resolution and provides a mechanism for the same. PART-Part I PRELIMINARY Preliminary ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT THIS AGREEMENT is entered into on this the ……….. day of 20 BETWEEN………, 20…..