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A contribution agreement is a legally binding document that allows individuals or firms to share the burden of a liability. The agreement provides assurance that if they are sued, they would be able to seek a pre-determined proportion of the liability from fellow members of the agreement.
LAO may require an individual seeking or receiving legal aid services, or a person responsible for the individual, to enter into a contribution agreement. The contribution agreement requires the individual or person responsible for the individual to contribute to the cost of the individual's legal aid services.
A contribution agreement, also known as a deed of contribution, is a legal document that provides for the transfer of an asset from one party to another party. It will express the conditions required including liability, indemnities and more.
A contribution agreement, essentially, is an agreed-upon document that outlines the terms of a grant or loan transfer.
A contribution agreement is a legal document that will lay out the conditions surrounding the transfer of an asset from one party to another. Small businesses also uses these type of agreements for: Funds to cover a retirement account. A large donation to charity. A business affiliation.