What Is The Meaning Of Clear Agreement

A fundamental principle of contract interpretation is to identify and carry out the objectively expressed will of the parties. What a party has tried to say without expressing it exactly does not count. Contractual terms generally take on their usual meaning (i.e., dictionary), unless the contract specifically defines them or the industry has assumed a particular meaning known to both parties. For the avoidance of doubt, such a netting agreement provides, inter alia, for compensation by LCH SA where Rule 2501A/3(i) is not applicable. Any dispute relating to this Agreement or any other agreement arising out of this Agreement shall be finally resolved in accordance with the Arbitration Rules of the Netherlands Arbitration Institute. Where a client uses the services of more than one clearing company, a clearing company is liable only to the extent that it has been engaged by that client to perform a particular cleared contract. For example, in most contracts, it will be superfluous to define what a “third party” is (for example. B, if it includes legal entities that are part of a Contracting Party`s group), which is covered by clauses referring to a “person” (e.g.B in addition to legal entities, does it also include government agencies?) or “business hours” (if the “response time” or “service availability” would not affect the economy of the underlying transaction would be weakened). What made you decide to seek the compensation agreement? Please let us know where you read or heard it (including the quote if possible). 4) Do not create a defined term if its simple meaning is clear and unambiguous. “Compensation Agreement.” Merriam-Webster.com Dictionary, Merriam-Webster, www.merriam-webster.com/dictionary/clearing%20agreement. Retrieved 1 December 2020.

In a recent case before the High Court, it was reiterated that while the meaning of words in a contract is clear and unambiguous, the common sense and intent of the parties are irrelevant. In addition, inconsistent use of terms such as “all” and “all” and the use of negatives in the Terms may cause the court to pronounce your contract differently from what you had intended. .

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