Section 24 合同条款 Contract terms 商务英语 教学课件.pptVIP

Section 24 合同条款 Contract Terms I. 要点概述Main Points 1. What is a contract? 1. What is a contract? A contract is an agreement creating and defining the obligations between two or more parties. These parties can be persons, individuals, businesses, organizations or government agencies and contracts between them are concluded to do, or to refrain from doing, a particular thing in exchange for something of value. Contracts generally can be written, using formal or informal terms, or entirely verbal. If one side fails to live up to his/her/its part of the bargain, there’s a breach and certain remedies for solving the differences are available. Such terms of the contract as who, what, where, when, and how of the agreement define the binding promises of each party to the contract. 2. What are the main terms to be covered in a contract? In general, contract terms include duties of each party, rights of each party, relevant dates, prices, quantities, payment terms, payment due dates, taxes, interest, late fees, warranties, disclaimers, limitations on liability, liquidated damages, confidentiality provision, indemnification agreement, default, arbitration clause, governing law, venue of lawsuits involving the contract, statement that contract constitutes entire agreement, signatures of authorized signatories, notarization. In terms of enforceability, the strongest contract has an offer, acceptance, and consideration for the exchange, clearly sets out the terms of the agreement without ambiguity, and is signed by the involved parties with proper capacity to enter into the contract. Weaker contracts include verbal agreements or contracts drawn up by parties in direct violation of state or federal laws. 3. How do you draft a contract? In doing business, if you have any hesitation that your agreement is unclear or you’re not sure what the agreement is, you need to put the agreement in writing in a simple contract by following the steps. First, identify the parties to the agre