Submission Agreement Sample With Whereas Clauses In Michigan

State:
Multi-State
Control #:
US-0010BG
Format:
Word; 
Rich Text
Instant download

Description

An agreement to arbitrate a dispute that has already arisen is sometimes called a ?ˆ?submission agreement.?ˆ A submission agreement is needed when the parties don?ˆ™t have an existing written contract or a clause in an existing contract that provides that arbitration will be used to settle disputes between them. The submission agreement is used to start the arbitration with the selected arbitrator.
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FAQ

“Whereas” clauses should be used to explain why the resolution is necessary, and should also provide some background on the issue that the resolution takes a stand on.

'Whereas' is often used in legal documents and proclamations it means 'that being the case' or 'in view of the fact'.

Rule 1.110(303.3) 'Whereas' clause of contract is prefatory, not binding.

Draft the agreement using clear and precise language. Specify each party's rights and obligations in detail, including remedies for breaching the agreement. Include all necessary legal clauses in the agreement, such as indemnification and dispute resolution clauses.

Standard boilerplate for an entire agreement clause Example: “This Agreement and any exhibits attached hereto, is the entire, final, complete, and fully integrated agreement between the Parties with respect to the subject matter hereof.

The contract might start with a Whereas clause like this: 'Whereas, the parties wish to collaborate in the development of new technology...'. This Whereas clause is setting out the purpose of the contract: to set up a partnership for developing technology.

Definition: A whereas clause is a statement in a legal document that provides background information or context for the main purpose of the document. It is often used in preambles or recitals to explain the reasons or motivations behind the document's creation.

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Submission Agreement Sample With Whereas Clauses In Michigan