Contract Clauses

Can you list and describe suitable clauses that should be in a standard contract?

Suitable clauses - 1

Clauses covering the following topics

·         That should be present in a good standard contract

1. Definitions of terms used in the contract should be clearly articulated

·         Preferably at the beginning of the document

2. Any special responsibilities

·         Of either party to the contract

3. Subcontracting

·         Permission or limitations that may be imposed

Suitable clauses - 2

·         4. Acquirer-furnished property or facilities

·         Such as facilities, equipment, or existing hardware or software

·         To be used in the course of the work

·         5. Ownership of patents, copyrights or licenses

·         Applicable to the product

·         And its documentation

·         6. Inspection and testing

·         And provisions for correction of defects

Suitable clauses - 3

7. Changes to the contract scope

·         With corresponding changes to the time

·         And price for the work

8. Scheduled completion

·         Reasons for excusable delays

·         And any incentives or penalties

9. Terms of payment and/or allowable costs

·         Where remuneration is cost-based

Suitable clauses - 4

10. Overtime and staff premiums compensation

·         As and when applicable

11. Termination on the part of the acquirer

·         For whatever reasons

·         And the terms of compensation

·         Under each circumstance

12. Default

·         I.e. failure to perform on the part of the supplier

Suitable clauses - 5

13. Disputes

·         The manner of their notification

·         And manner of resolution

14. Product warranties

·         To be provided by the supplier