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Boilerplate clauses


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Acceleration
clause in a contract requiring the obligator to pay all or a part a payable amount sooner than as agreed upon the occurrence of some event or circumstances stated in the contract usually failure to make payment
Assignment
clause prohibiting or permitting transfer of rights held by one party to another party under certain conditions
Confidentiality
clause concerning the treating of information as private and not for distribution beyond specifically identified individuals or organisations nor used other than for specifically identified purposes.
Consideration
clause expressing the cause motive price which induces one party to enter into an agreement
Force Majeure
clause designed to protect against failures to perform contractual obligations caused by unavoidable events beyond the party's control such as natural disaster or war
Liquidated Damages
clause stipulating the amount of damages for the injured party to collect as compensation upon a specific breach of contract
Entire Agreement
clause stating that the written terms of an agreement may not be varied by prior or oral agreements because all such agreements have been consolidated into the written documents
Severability
clause providing that in the event that one or more provisions of the agreement are declared unenforceable the balance of the agreement remains in force.
Termination
clause outlining when under which circumstances the contract may be terminated
Payment of Costs
clause setting out which party is responsible for payment of costs related to preparation of the agreement and ancillary documents
Indemnity Clause
clause under which one party (or both parties) commit to compensate the other (or each other) for any harm liability or loss arising out of the contract.