Tripartite Agreement Mou

Notwithstanding agreements 6, 7 and 8, this tripartite agreement between THE CLIENT, the contractor and the bank is automatically terminated by the transmission of a written notification to the Bank if the contracts are not renewed or terminated. This tripartite contract automatically ends at the end of the deadline (6). What is a tripartite agreement? A tripartite agreement is essentially just a document outlining the details of an agreement between three separate parties, for example. B in the case of a transaction between two parties in which a bank is guarantor of one of the parties. PandaTip: Simply put, a tripartite agreement is an agreement between three parties. You could have a tripartite confidentiality agreement, a tripartite non-competition agreement – you call it. However, tripartite agreements are most common when banks are involved in a transaction. That is why we have taken a little free hand and created here a model for such a tripartite agreement. In this tripartite agreement, the bank acts as guarantor of the contractor and assumes certain obligations regarding the transaction between the contractor and the client. We have no doubt that this tripartite agreement will require some additional adjustments for your specific objective, as there are an infinite number of possibilities. Be sure to get the support of your legal counsel. The bank agrees not to reach an agreement with another party on the implementation of the main responsibility for this tripartite agreement without the prior written approval of the CLIENT. The Bank, the contractor and the CLIENT agree that this tripartite agreement will replace, in the event of a contractual conflict, the Bank`s terms of service for all accounts and services covered by this tripartite agreement.

Without any indication of cause or cause, the contractor or bank may terminate this tripartite agreement on the anniversary of the entry into force of the tripartite contract by informing the other two parties in writing (2) of the termination at least [NUMBER] days before the expiry of the term of the tripartite contract. The agreements provide that the funds collected are used exclusively for the financing of [DESCRIPTION]. These funds must be deposited into a separate account of the general or other funds of the contractor with a bank that meets the conditions set out in the agreements; and the bank that meets the requirements, the parties agree to deposit these amounts into an account (the “account”) with the bank. The CLIENT has a right of bet on the account credits to ensure the repayment of all funds in the account that are greater than any pledge or to the bank or entrepreneur eligible for that account. The Bank is not responsible (a) for the application of credits deducted from the COMPTE, or b) for determining whether a person has the right to obtain funds ordered or funds requested by the contractor.