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Non Refundable Agreement
"I need a Non-Refundable Agreement for my property development company in Lahore, where buyers will make a 15% non-refundable deposit by March 2025 for off-plan apartment purchases, with specific clauses about payment schedules and construction milestones."
1. Parties: Identification and details of all parties involved in the agreement
2. Background: Context and purpose of the agreement, including the nature of the non-refundable transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Payment Terms: Detailed description of the non-refundable payment, including amount, payment method, and timing
5. Non-Refundable Nature: Clear statement and explanation of the non-refundable nature of the payment
6. Acknowledgments: Explicit acknowledgments by the paying party regarding understanding of the non-refundable nature
7. Representations and Warranties: Statements of fact and guarantees made by both parties
8. Terms and Conditions: General conditions governing the agreement and circumstances under which the payment is made
9. Obligations of Parties: Specific duties and responsibilities of each party
10. Force Majeure: Circumstances under which performance may be excused or delayed
11. Governing Law: Specification of Pakistani law as governing law and relevant jurisdictional details
12. Dispute Resolution: Process for handling disputes, including jurisdiction and arbitration provisions
13. Notices: Method and addresses for official communications between parties
14. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Shariah Compliance: Section addressing Islamic law compliance, required if the agreement needs to conform to Islamic banking principles
2. Tax Provisions: Detailed tax implications and responsibilities, needed if significant tax considerations exist
3. Confidentiality: Provisions for protecting confidential information, needed if sensitive information is involved
4. Intellectual Property: IP rights and protections, required if the agreement involves any intellectual property
5. Electronic Communications: Provisions for digital communications and transactions, needed if electronic means are primary mode of interaction
6. Assignment: Rules regarding transfer of rights, needed if assignment rights are important to either party
7. Insurance: Insurance requirements and provisions, needed if the transaction involves insurable interests
1. Schedule A - Payment Details: Detailed breakdown of payment amounts, schedules, and methods
2. Schedule B - Service or Product Specifications: Detailed description of services or products related to the non-refundable payment
3. Schedule C - Required Documents: List of supporting documents required for the transaction
4. Schedule D - Contact Information: Detailed contact information for all parties and authorized representatives
5. Appendix 1 - Compliance Checklist: Checklist ensuring compliance with relevant Pakistani laws and regulations
6. Appendix 2 - Terms Acknowledgment: Specific acknowledgment forms regarding the non-refundable nature of the payment
Authors
Applicable Law
Business Day
Confidential Information
Effective Date
Force Majeure Event
Non-Refundable Payment
Notice
Party/Parties
Payment Date
Payment Method
Purpose
Services
Term
Territory
Transaction
Working Hours
Authorized Representative
Breach
Commencement Date
Dispute
Good Faith
Intellectual Property Rights
Liability
Material Adverse Effect
Obligations
Payment Schedule
Shariah Principles
Termination Date
Writing/Written
Payment Terms
Non-Refundability
Acknowledgment and Acceptance
Representations and Warranties
Payment Process
Conditions Precedent
Force Majeure
Term and Termination
Confidentiality
Notices
Assignment
Amendment and Modification
Governing Law
Dispute Resolution
Entire Agreement
Severability
Waiver
Indemnification
Compliance with Laws
Islamic Law Compliance
Authority and Capacity
Third Party Rights
Counterparts
Further Assurance
Time of Essence
Relationship of Parties
Costs and Expenses
Anti-Money Laundering
Language
Real Estate
Education
Healthcare
Events and Entertainment
Tourism and Hospitality
Financial Services
Professional Services
Construction
Retail
Technology Services
Legal
Finance
Operations
Sales
Compliance
Risk Management
Commercial
Business Development
Customer Service
Administration
Legal Counsel
Contract Manager
Business Development Manager
Financial Controller
Operations Manager
Sales Director
Compliance Officer
Risk Manager
Property Manager
Account Executive
Project Manager
Commercial Director
Chief Financial Officer
General Manager
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