Contingency Contract Template for India

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Contingency Contract

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Contingency Contract

"I need a Contingency Contract for a software development project where payment of $500,000 is contingent upon successful system implementation and user acceptance testing, to be completed by March 2025, with specific performance metrics and verification procedures."

Document background

The Contingency Contract is a specialized legal instrument used in Indian business and commercial transactions where parties wish to create binding obligations that are dependent on the occurrence of specified future uncertain events. This document type is particularly relevant when businesses need to manage risk, establish conditional obligations, or create performance-based agreements. The contract draws its legal framework from the Indian Contract Act, 1872, specifically Sections 31-36, which define and govern contingent contracts. It is commonly used in scenarios such as performance-based agreements, milestone-based payments, insurance contracts, or business arrangements where certain obligations are triggered only upon specific conditions being met. The document includes comprehensive provisions for defining the contingent events, establishing verification mechanisms, and outlining the resulting obligations, while ensuring compliance with Indian legal requirements and business practices.

Suggested Sections

1. Parties: Identification and details of all parties to the contingent contract

2. Background: Context of the agreement and relationship between parties

3. Definitions: Definitions of key terms, including specific definition of the contingent event(s)

4. Contingent Event: Detailed description of the contingent event(s) upon which the contract is dependent

5. Conditions Precedent: Any conditions that must be satisfied before the contingent obligations become effective

6. Rights and Obligations: Detailed description of parties' rights and obligations upon occurrence of the contingent event

7. Determination of Occurrence: Process and criteria for determining whether the contingent event has occurred

8. Time Frames: Specific timeframes for performance of obligations after contingent event occurs

9. Payment Terms: Details of any payments to be made, including timing and conditions

10. Representations and Warranties: Standard and specific representations and warranties by all parties

11. Term and Termination: Duration of the agreement and termination provisions

12. Governing Law and Jurisdiction: Confirmation of Indian law as governing law and jurisdiction details

13. Dispute Resolution: Mechanism for resolving disputes related to the contingent event or contract terms

14. Notices: Process for serving notices and communications between parties

15. Execution: Signature blocks and execution formalities

Optional Sections

1. Force Majeure: Include when external events might affect the contingent event's occurrence

2. Assignment: Include when rights under the contingent contract may need to be transferable

3. Confidentiality: Include when sensitive information is involved in determining or monitoring the contingent event

4. Insurance: Include when specific insurance is required related to the contingent event

5. Step-In Rights: Include when one party needs rights to take over certain obligations if contingent event occurs

6. Third Party Rights: Include when the contingent event involves or affects third parties

7. Indemnification: Include when specific indemnities are needed related to the contingent event

8. Performance Security: Include when security for performance of contingent obligations is required

Suggested Schedules

1. Schedule 1 - Contingent Event Details: Detailed technical or commercial parameters of the contingent event

2. Schedule 2 - Performance Metrics: Specific metrics or criteria for measuring occurrence of contingent event

3. Schedule 3 - Payment Schedule: Detailed breakdown of payments linked to contingent events

4. Schedule 4 - Required Notices: Forms of notices required for various circumstances

5. Schedule 5 - Contact Details: Detailed contact information for all parties and key personnel

6. Appendix A - Supporting Documents: Any reference documents needed to determine contingent event occurrence

7. Appendix B - Compliance Requirements: List of regulatory or compliance requirements related to the contingent event

8. Appendix C - Technical Specifications: Technical details relevant to the contingent event if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Insurance

Construction

Real Estate Development

Information Technology

Manufacturing

Energy

Infrastructure

Financial Services

Agriculture

Mining

Professional Services

Healthcare

Relevant Teams

Legal

Finance

Risk Management

Compliance

Operations

Commercial

Business Development

Project Management

Technical Operations

Strategy

Insurance

Treasury

Relevant Roles

Legal Counsel

Contract Manager

Risk Manager

Business Development Manager

Project Manager

Chief Financial Officer

Compliance Officer

Operations Director

Commercial Manager

Insurance Manager

Technical Director

Finance Manager

Chief Legal Officer

Business Unit Head

Strategy Director

Find the exact document you need

Lease Agreement Form

An Indian law-compliant agreement establishing terms and conditions between property owner and tenant for the rental of residential or commercial property.

How a Sales & Marketing Lead uses Genie AI to reduce contract drafting time by 95%

Let's create your Contingency Contract

Authors

Alex Denne

Find the exact document you need

Lease Agreement Form

Evergreen Contract

Contract For Deed

Bespoke Contract

Supplementary Agreement

Public Contract

Partnership Agreement In Written Form

Business Agreement

Warrant Agreement

Triple Net Lease Agreement

Surety Agreement

Subscription Agreement

Sub Tenancy Agreement

Short Term Contract

Scheduling Agreement

Probationary Contract

Purchase Proposal

Novation Agreement (Real Estate)

Novation Agreement

Option Contract (Real Estate)

Material Contract

Labor Contract

Lease Deed

Informal Contract

Individual Contract

Franchise Agreement

Form For Independent Contractor

Encroachment Agreement

Executive Contract

Contingency Contract

Consent Agreement

Business To Business Contract

Barter Agreement

Master Contract

Notarial Contract

Basic Ordering Agreement

Guarantee Contract

Tenancy Agreement Form

General Tenancy Agreement

Contract Agreement Form

Cross Purchase Buy Sell Agreement

Money Agreement Between Two Parties

Terms Of Employment Contract

Simple Contract

Side Agreement

Mutual Agreement Between Two Parties

Formal Agreement

Fixed Term Tenancy Agreement

Business Transfer Agreement

Amended Contract

Tooling Agreement

Representation Agreement

Notary Rent Agreement

Model Tenancy Agreement

Lease With Option To Buy

Common Terms Agreement

Buyer Agency Agreement

Sale Agreement Form

Basic Contract

Divorce Contract

Catering Contract

Lawn Care Contract

Shipment Contract

Handyman Contract

House Construction Agreement Between Owner Contractor

Co Broker Agreement

Sublet Lease

International Sales Contract

Promissory Contract

Intent To Purchase Agreement

Professional Services Retainer Agreement

Supply Contract Form

Sale Of Business Contract

Maintenance Contract

Contract For Construction Work