JCT Measured Term Contract
Publisher one
Genie AISource file
jct_measured_term_contract_template.docxJurisdiction
England and WalesRelevant sectors
Type of legal document
🏡 Measured term contractBusiness activity
Create a contractA measure term contract is an agreement between two parties in which one agrees to provide a specified amount of goods or services to the other at agreed-upon intervals over a set period of time. This type of contract is often used in business arrangements where one company agrees to provide another company with a set amount of goods or services on a regular basis.
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This legal template provides a comprehensive framework for the establishment and operation of the escrow account. It covers important aspects such as the appointment and responsibilities of the escrow agent, the conditions for release of funds from the account, and the procedure to resolve any disputes related to the escrow arrangement.
Additionally, the template may also include provisions related to the obligations of the buyer and the seller, including their representations and warranties, indemnification clauses, dispute resolution mechanisms, and any specific conditions or contingencies that must be met before funds can be released from the escrow account.
This Share Purchase Escrow Letter under UK law is designed to offer legal certainty and protection for both parties involved in the share purchase transaction, ensuring that the funds held in escrow are appropriately managed and released in accordance with agreed-upon terms and conditions.