Settlement Agreement With Three Parties
The bank, the contractor and the client agree that no person other than the contracting parties is intended to be the beneficiary of the tripartite agreement or agreements, nor that another person has rights arising from those parties. The Bank, the contractor and the client agree to comply with the provisions of the annexes or the additions of this tripartite agreement that are incorporated into it. The client and the contractor are contracting parties to the contract, including any changes that he or she refers to, individually and collectively, as « agreements » providing for the advance of funds under the accreditor (the « letter of credit »). Without any indication of cause or cause, the contractor or bank may terminate this tripartite agreement on the anniversary of the entry into force of the tripartite contract by informing the other two parties in writing (2) of the termination at least [NUMBER] days before the expiry of the term of the tripartite contract. The contractor may at any time terminate this tripartite contract to the Bank with a period of at least [number] days if the contractor finds that the bank has, for the most part, breached its obligations under this tripartite agreement or that the Bank will discharge its obligations in a manner that prevents the contractor from effectively and effectively managing the applicable program. The CLIENT may terminate this tripartite contract at any time by written notification to the other two parties. If a foreclosure order is notified, enforcement or the opening of a concession procedure for the account, the bank will notify the CLIENT immediately. What is a tripartite agreement? A tripartite agreement is essentially just a document outlining the details of an agreement between three separate parties, for example. B in the case of a transaction between two parties in which a bank is guarantor of one of the parties. The client or his agents can request copies of the establishment and maintenance and transactions in the COMPTE at Customer`s expense.
These copies must be available within a reasonable time. These records are kept by the Bank for a period of six (6) years after the end of the calendar year in which the registrations were established, unless the bank has been informed in writing by the CLIENT, prior to that date, that the retention of these records is necessary for an extended period of time for litigation or litigation. This tripartite agreement, with all its provisions and alliances, is valid for a period of [NUMBER] years beginning with [DATE] and ending on [DATE]. The bank agrees not to reach an agreement with another party on the implementation of the main responsibility for this tripartite agreement without the prior written approval of the CLIENT. The Bank is not responsible (a) for the application of credits deducted from the COMPTE, or b) for determining whether a person has the right to obtain funds ordered or funds requested by the contractor. If the bank exercises due diligence after receiving written instructions from the CLIENT`s duly accredited representative or the contractor to the bank, it acts in this regard and is not liable to third parties for any action taken or not in accordance with these written instructions, including, but not only, instructions in the form of an electronic transmission. , file, mail or any other electronic statement or transaction, including automatic entry of the clearing house, or for violation of a warranty or warranty by the customer or contractor, as may be the case.