Understanding Terms and Conditions

Terms and Conditions of a contract refer to the specific rules, requirements, and provisions that govern the legal agreement between two or more parties. These terms and conditions may include a wide range of provisions, such as payment terms, delivery schedules, warranties, limitations of liability, dispute resolution procedures, and termination clauses.

In a typical contract, the terms and conditions serve as the framework for the parties to agree upon and execute the agreement's details. They help define the scope and limitations of the agreement and provide a reference point in case of any dispute or disagreement that may arise during the contract.

The terms and conditions are typically included in a written contract. Both parties often negotiate and agree upon them before signing the agreement. They are legally binding and enforceable, and failure to comply can result in legal action or termination of the contract.

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