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Continued from Previous Page A statement setting forth with specificity the facts alleged to exist which it contends give rise to said claim. The nature, extent and dollar amount of the damages sustained or which claimant believes in good faith may be sustained. The names and addresses of any individual or individuals claiming to possess knowledge of said facts, together with a statement as to the facts so claimed to be possessed. The name and address of any third parties who have reviewed said claim at the request of the claimant or anyone acting on claimant's behalf. Within thirty (30) days after receipt of said notice of claim, the party receiving the claim shall advise the other party in writing of the name and address of the person chosen by it to serve as an arbiter hereunder. Within thirty (30) days after receipt of the notice of appointment contemplated by the immediately proceeding paragraph, the claiming party shall advise the other in writing of the name and address of the person chosen by it to serve as an arbiter hereunder. Within sixty (60) days after the appointment of the second of the first two arbiters, they shall meet and shall appoint, by mutual agreement, a third arbiter. The three arbiters thus chosen shall constitute the arbitration panel. In the event that, for any reason whatsoever, the two arbiters initially chosen cannot agree upon the selection of the third arbiter, the same may be appointed by any court of competent jurisdiction upon application of either party. For a period of one hundred eighty (180) days following the determination of the arbitration panel, the parties shall in good faith negotiate in an effort to amicably conclude and resolve the matter. In the event the dispute is not resolved by the negotiations contemplated by the immediately preceding paragraph within a period of one hundred eighty (180) days following the determination of the arbitration panel, and conditioned upon full and faithful compliance with each of the provisions required herein relating to nonbinding arbitration, then and in that event the party asserting the claim may file legal action in the same manner and subject to the same conditions, requirements and limitations as this arbitration had not occurred. Provided, however, that no action regardless of form may be brought be either party more than one (1) year after the cause of action has arisen or six (6) months after the determination of the arbitration panel, which ever is later. In the arbitration each of the parties shall bear its own attorney's fees, costs and other expenses, including the fees and expenses of the arbiter appointed by it. Further, each party shall be responsible for one-half (1/2) of the costs and expenses of the independent third party arbiter, and each shall indemnify and hold the other harmless from those costs for which it is responsible pursuant hereto. In the event legal action is required, the prevailing party shall be entitled to recover all reasonable costs incurred in the defense of the claim, including staff time, court costs, attorney's fees and other claim related expenses. SCHEDULES. Unless otherwise specified in the agreement, BANKPOLICIES.COM shall be obligated to perform within a reasonable period of time. BANKPOLICIES.COM shall not be responsible for delays in the completion of its services created by reason of any unforeseeable cause or causes beyond the control and/or without the fault or negligence of BANKPOLICIES.COM, including but not restricted to acts of God or the public enemy, acts of the Government of the United States or of the several states, or any foreign country, or any of them acting in their sovereign capacity, acts of other contractors with CLIENT, fire, unforeseen circumstances, electronic media malfunction, epidemics, riots, quarantine restrictions, strikes, civil insurrections, freight embargoes, and computer malfunction. Should completion of any portion of the services to be rendered by BANKPOLICIES.COM be delayed beyond the estimated date of completion for any reason which is beyond the control of or without default or negligence of BANKPOLICIES.COM, then and in that event CLIENT and BANKPOLICIES.COM shall mutually agree on the terms and conditions upon which the services may be continued or terminated. INVOICES. BANKPOLICIES.COM shall submit monthly progress invoices to CLIENT, and a final bill shall be submitted upon completion of the Services. Within thirty (30) days after receipt of an invoice, CLIENT shall pay the full amount of the invoice. If CLIENT objects to all or any portion of any invoice, it shall so notify BANKPOLICIES.COM of the same within thirty (30) days from the date of receipt of said invoice and shall pay that portion of the invoice not in dispute, and the parties shall immediately make every effort to settle the disputed portion of the invoice. If CLIENT fails to make payment within thirty (30) days after receipt of an invoice, then CLIENT shall pay an additional service charge of twenty percent (20%) on all such amounts outstanding. The additional charge shall not apply to any disputed portion of any invoice resolved in favor of CLIENT. Further, BANKPOLICIES.COM may, at its sole option and discretion, refuse to perform any further work irrespective of payment from CLIENT. In the event that all or any portion of the twenty percent (20%) service charge provided for herein is deemed to be an interest charge, then and in that event said interest charge shall be limited to the maximum amount legally allowed by law. ASSIGNMENTS. CLIENT shall not assign this contract or any portion thereof to any other person or entity without the express written consent of BANKPOLICIES.COM. Nothing contained in this contract or a part shall be construed to create a right in any third party whosoever, and nothing herein shall inure to the benefit of any third party. GOVERNING LAW. This Agreement shall be governed by and construed under the laws of the State of Nevada. SUCCESSORS AND ASSIGNS. This Agreement shall be binding on and made to the benefit of BANKPOLICIES.COM and CLIENT and their respective successors and assigns. MODIFICATION OF AGREEMENT. This Agreement is the complete and exclusive agreement between the parties, and supersedes all proposals and prior agreements, oral and written and all other communication between the parties, relating to the subject matter of this Agreement. This Agreement may only be amended by the parties of the written agreement. WAIVER. The waiver or failure of either party to exercise in any respect any right provided for herein not be deemed a waiver of any further right hereunder. Back to Home Page |
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Services Agreement - Part Two |