What Is Agreement Types

A variety of general commercial contracts are available, including: An agreement involving two parties who wish to combine resources to submit a government contract proposal. The agreement will specify which party will act as the Principal Recipient of the award and which will act as a sub-recipient of the sub-award if the proposal is selected for funding. The remunerated main party is then legally obliged to award the sub-beneficiary a lower price within a reasonable time after receipt of the contract. II Indemnity Agreement: The indemnification contract is a special type of agreement in which one person compensates the other in the event of damage or loss. .

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