Contract

A Contract is a written agreement expressing the parties’ will to be legally bound and signed by the authorized representatives of the seller and the customer. It concerns the legal, commercial, financial and technical terms and conditions applicable to a project.

The Format of a Contract is Industry specific.

In general, a contract should contain the same elements as the tender (cf. above).

It should include among others the following clauses:

CONTRACT CONTENT:

Parties (general and specific information)
Definition of the Project (technical descriptions, customer requirements, characteristics, change over time, documentation, training conditions …)
Definitions of the terms used
Delivery terms / locations; site requirement, preparation, installation and training
Determination of the price (fixed or subject to revision, possibly based on defined criteria)
Insurance

Ramp up and acceptance procedures, conditions and terms
Force major
Assignment of the contract
Confidentiality
Termination
Warranties
Termination of the contract
Applicability of General Terms and Conditions if applicable
Final provisions (severability, applicable law, jurisdiction …)
Appendixes