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CONTRACT AGREEMENT
This Agreement made the _____ day of _____, _____
between
_________________, a private organization duly incorporated and existing under the laws of _____________, with its principal office located at _______________ (hereinafter called “the Employer”) of the one part, and
_________________, a company duly organized and existing under the laws of ___________, with its principal office located at ____________ (hereinafter called “the Contractor”) as the member party,
Whereas the Employer desires that the Works known as _____________ should be executed by the Contractor, and has accepted the Proposal by the Contractor for the execution and completion of these Works and the remedying of any defects therein,
The Employer and the Contractor agree as follows:
1. In this Agreement words and expressions shall have the same meanings as are
respectively assigned to them in the Conditions of Contract hereinafter referred to.
2. The following documents shall be deemed to form and be read and construed
as part of this Agreement. For the purposes of interpretation, the priority of the documents shall be in accordance with the following sequence:
(a) (b) (c) (d) (e) (f) (g) (h)
The Contract Agreement and its amendments (if any); Appendix;
The Particular Conditions;
The General Conditions of Contract; The Employer’s Requirements; Feasibility Study; The Schedules;
Any other documents forming part of the Contract.
3. In consideration of the payments to be made by the Employer to the
Contractor as hereinafter mentioned, the Contractor hereby covenants with the Employer to design, execute and complete the Works and remedy any defects therein, in conformity with the provisions of the Contract.
4. The Employer hereby covenants to pay the Contractor the total amount of
______________ (hereinafter called "Accepted Contract Amount"), in consideration of the execution and completion of the Works and the remedying of defects therein, the Contract Price at the times and in the manner prescribed by the Contract.
5. The Contract Agreement shall come into force on the date when all of the
following conditions have been fulfilled:
(a) Signing of the Contract Agreement by the authorized representatives of both
Parties,
(b) Effectiveness of Loan Agreement.
In Witness whereof the parties hereto have caused this Agreement to be executed the day and year first before written.
For and on behalf of the Employer
Name:
For and on behalf of the Contractor
Name:
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