A more appropriate way to refer to a party is to use a functional reference such as “service provider”, “licensee”, “seller”, “lender”, etc. You can also use the short name of the party, such as part of a company name or a surname. Refer to your own party with a short name if you use functional references for other parts. The creation of the defined term parties would achieve the same objective as the designation of the parties, but would oblige the author to use an unnecessary defined clause throughout the contract. That is never a good thing. Defined terms can help make a contract much shorter and ensure internal consistency. But they also divert attention – when you come across a defined term, part of the reader`s attention is drawn to the memory of the definition. You should charge for a term defined in its own way – the benefits it offers should outweigh the momentary distraction it inflicts on the reader. In my view, the Parties are not meeting this standard. Companies must be referred to by their abbreviated name.
If possible, use a term that matches the business name or abbreviation of the business. An acronym is also acceptable if the party is known by that acronym. The contractual partner is any person, group or organization involved in a contract. The term “Parties” has a corresponding meaning. Upon reasonable notice to an actual or potential Party and on reasonable opportunity for that Party to be heard, the City Manager, after consulting with the Chief Procurement Officer and the City Attorney, shall have the power to exclude a Party from consideration for the award of municipal contracts for the reasons set out below. However, the clause should include unique identifying information about each party, such as whether the company is a limited liability company, the company`s registration number, and the full names, addresses, and contact information of the people. Eurex Clearing is entitled, after prior notification from the contractual partner, to transfer to a third party the installation and operation of a participating system or parts thereof at the business premises of the contractual partner, provided that the provisions of the monitoring contract, in particular by the third party, apply and are complied with. is guaranteed. The parties to a contract must be properly identified. A contract must contain a contractual clause that defines each party that enters into the agreement.
Many contractual clauses are worded as follows: Are you looking for a definition of contractual partner? A Party or Contracting Party is a natural or legal person who concludes a binding agreement with another Contracting Party and thereby assumes the obligations, responsibilities and benefits set out in the Agreement. Before a contract is considered valid, each party concerned must be considered competent. This is a useful topic to keep in mind. But to ensure that a contract does not transfer rights and remedies to third-party beneficiaries, I would use only one of the two recommended mechanisms – I would name the parties in the provision in question. Instead, name the parties involved and define the term to mean only the signatories of the contract. If you ensure that an agreement does not provide for any recourse or right to a third party beneficiary, focus only on those who signed the contract. Therefore, it would be wise to designate the parties to the contract as “the signatories”. After the publication of MSCD, I came across the following recommended wording for a contractual provision that states that no non-party has any rights or remedies under a contract: “This Agreement is not intended to confer any rights or remedies on any person other than the parties.” According to legal dictionaries, the term “signatory” refers to any party who signs a document in person or through a representative and thus becomes a party to a contract or agreement. If more than two parties are involved in a contract, it makes more sense to refer to the parties as “signatories” rather than constantly listing all the parties throughout the document. The authority recommending this wording stated that to prevent non-parties from applying rights and remedies under a contract, you must clarify that only the parties who sign the contract have enforceable rights and remedies. If you are simply referring to parties, a court might find that this term includes people other than the signatories. To address this issue, the provision should name the parties or create the defined term “parties” and define it as meaning only the signatories.
In the event that the borrower or, where applicable, a Contracting Party, the workers or mechanics to be employed in the classification or their representatives and the contract agent do not agree on the proposed classification and the proposed rate of remuneration (including, where applicable, the amount intended for social benefits), the procuring entity shall submit the questions, including the views of all interested parties and the recommendation of the Subcontract Personnel to the Administrator for identification.