Addendum for all Contracts or Agreements between Trustees of Institution and any Third-Party Vendor or Consultant - Massachusetts

• Category: Massachusetts Confidentiality and Nondisclosure - General
• State: Massachusetts
• Control #: MA-70232NMS
• Format: Word; Rich Text

Description

This Addendum can be attached to most third party Vendor agreement to bring the Agreement into compliance with the institution's standard terms and conditions. (It is not applicable to Construction Agreements.) Should you have to make any revisions to specific clauses in this addendum or if the third party wants to revise insurance, indemnity, limitations of liability or waiver of subrogations, it is advised that you speak with your legal department and/or risk management department before making any changes. Read all contracts very carefully and negotiate all the terms and conditions to meet the institution’s needs and expectations. Addendum for all Contracts or Agreements between Trustees of Institution and any Third-Party Vendor or Consultant — Massachusetts are documents that supplement, modify, or add to the terms and conditions of an existing contract. Addendums are commonly used to clarify the intent of the parties, make minor changes, or update the terms of the agreement. Addendums are commonly used to ensure the contract meets the requirements of the Massachusetts state law. The different types of Addendum for all Contracts or Agreements between Trustees of Institution and any Third-Party Vendor or Consultant — Massachusetts include: 1. Indemnification Addendum: This addendum is used to establish an indemnity agreement between the parties. It outlines the responsibility of each party for any claims, damages, or losses that may arise from the performance of the contract. 2. Conflict of Interest Addendum: This addendum is used to ensure that parties do not engage in any actions that create a conflict of interest that could harm the interests of the institution. 3. Arbitration Addendum: This addendum is used to establish an arbitration clause in the contract. This clause outlines the process and procedures that will be used to resolve any disputes that may arise between the parties. 4. Non-Compete Addendum: This addendum is used to restrict a vendor or consultant from competing with the institution. It also restricts the vendor or consultant from disclosing confidential information or using the institution’s name or reputation for their own gain. 5. Non-Disclosure Addendum: This addendum is used to protect the institution’s confidential information from being disclosed to third parties. It also outlines the responsibilities of the vendor or consultant to maintain the confidentiality of the information.

Addendum for all Contracts or Agreements between Trustees of Institution and any Third-Party Vendor or Consultant — Massachusetts are documents that supplement, modify, or add to the terms and conditions of an existing contract. Addendums are commonly used to clarify the intent of the parties, make minor changes, or update the terms of the agreement. Addendums are commonly used to ensure the contract meets the requirements of the Massachusetts state law. The different types of Addendum for all Contracts or Agreements between Trustees of Institution and any Third-Party Vendor or Consultant — Massachusetts include: 1. Indemnification Addendum: This addendum is used to establish an indemnity agreement between the parties. It outlines the responsibility of each party for any claims, damages, or losses that may arise from the performance of the contract. 2. Conflict of Interest Addendum: This addendum is used to ensure that parties do not engage in any actions that create a conflict of interest that could harm the interests of the institution. 3. Arbitration Addendum: This addendum is used to establish an arbitration clause in the contract. This clause outlines the process and procedures that will be used to resolve any disputes that may arise between the parties. 4. Non-Compete Addendum: This addendum is used to restrict a vendor or consultant from competing with the institution. It also restricts the vendor or consultant from disclosing confidential information or using the institution’s name or reputation for their own gain. 5. Non-Disclosure Addendum: This addendum is used to protect the institution’s confidential information from being disclosed to third parties. It also outlines the responsibilities of the vendor or consultant to maintain the confidentiality of the information.