Electrical Contract
This agreement (the "Agreement") is entered into as of [Date], by and between [Your Company Name], a [your location] based entity, having its principal place of business at [Your Company Address], registration number [Your Company Number], hereafter referred to as "Party A", and [Your Company Name], a [Contractor's location] based entity, having its principal place of business at [Your Company Address], registration number [Your Company Number], hereafter referred to as the "Contractor" or "Party B".
1. Project Scope
The contractor shall provide all labor, tools, and materials necessary for the execution and completion of the electrical renovation work at Party A's commercial property using the project specifications set at the discretion of Party A.
2. Timeline
The Contractor shall commence the work on [Date] and shall complete the work on or before [Date] unless otherwise extended through a written agreement between Party A and Party B.
3. Payment
Party A shall compensate the Contractor a total fee of [total fee]. The payment schedule will be as follows: [insert payment schedule information here]. Any additional costs, if necessary, will be discussed between both parties with details documented and agreed upon.
4. Safety Standards and Compliance
The Contractor agrees to maintain all necessary safety measures and standards as mandated by local and national laws throughout the contract period. Any failure to comply with the safety standards may result in immediate termination of this Agreement.
5. Termination
Either party may terminate this Agreement for any reason by providing written notice to the other party at least 30 days in advance. Upon termination, Party A shall pay for all the completed work up to the effective date of termination.
6. Dispute Resolution
Any disputes arising from this Agreement will be resolved through mutual agreement. If the parties cannot resolve the dispute, they agree to engage in mediation. If mediation fails, the dispute will be submitted to binding arbitration under the rules of the [Local Arbitration Association].
7. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior oral or written agreements, understandings, or arrangements between them relating to the subject matter of this Agreement.
Signatures
By signing below, both parties acknowledge they have read the terms of this Agreement and agree to them. This Agreement becomes effective on the date it is signed by both parties.
[Your Name]
[DATE SIGNED]
[Name of Contractor]
[DATE SIGNED]
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