Illinois Counterpart Execution
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How to fill out Counterpart Execution?
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FAQ
An approach to executing a document that is intended to have legal effect between two or more parties, that involves each party signing a separate (but identical) copy of the document and then exchanging their signed document for the one that has been signed by the other party.
In the blank space following ?Dated This Day Of,? enter the actual date on which the contract is being signed or executed. For example, if the contract is being executed on March 24, 2023, you would enter ?March 24, 2023? in the blank space.
During the rush of a transaction, documents may need to be signed in counterpart. Signing in counterpart means that duplicate contracts or deeds are printed so that there is a separate copy for signing by each party.
Counterpart is a copy or duplicate of a legal instrument. Where an instrument, especially a contract, is signed by the parties on different copies, one of the copies is the original while the others are counterparts.
A typical counterpart clause will look something like this: ?this agreement may be executed in any number of counterparts, each of which when executed and delivered shall constitute a duplicate original, but all counterparts together shall constitute a single agreement.?
A person or thing that has the same purpose as another one in a different place or organization: The prime minister is to meet his European counterparts to discuss the war against drugs. Synonym. opposite number.
Boilerplate Provisions (Lending): Counterparts, Electronic Signatures and Delivery. A Standard Clause providing that contract parties may sign in counterparts, authenticate their agreement with an electronic signature (also called an e-signature) and deliver their agreement by electronic means.
