[Lee-kl]

Is it something like this you are after Default Liability. 11.1 The Parties agree and confirm that, if any Party (the “Defaulting Party”) breaches substantially any of the agreements made under this Agreement, or fails substantially to perform any of the obligations under this Agreement, such a breach shall constitute a default under this Agreement (a “Default”), then the non-defaulting Party whose interest is damaged thereby shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of the non-defaulting Party notifying the Defaulting Party in writing and requiring it to rectify the Default, then the non-defaulting Party shall have the right, at its own discretion, to (1) terminate this Agreement and require the Defaulting Party to indemnify it fully for the damage; or (2) demand the enforcement of the Defaulting Party’s obligations hereunder and require the Defaulting Party to indemnify it fully for the damage. This link has some good examples https://www.lawinsider.com/clause/default-liability

• This reply was modified 1 year, 9 months ago by  Lee-kl.

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[Kohar]

Bricky, many thanks for this, which is a great help indeed ! If I may ask you a follow-up question, what are the one, two or three main, typical, if not expected breaches of the defaulting party, say, a utility company, pursuant to which the default clause kicks in ?

[morag-janet-of-the-hill-family]

What webinars have you watched and what modules have you purchased?

[Kohar]

I am simply asking in order to get my head around the full-acceptance-on-one’s-own-terms (“Notice of Payment”) that Mark explains in his 3-day workshop in London in October 2012.

So, if one adds the default and liability clause to the Notice of Payment, which you send off together with a separate Money Order, what breach of the contract can you expect upon which you can exercise your right under the default and liability clause ?

Grateful for your reply.