REVIEW
Based on the background information at page 2, it is evident that party A has good faith in regards to the contract. The background information is well drafted to suit the needs of both parties. For instance, the good faith can be seen in provision ‘A’ of the background information at the last line, “Party A is committed to protect the personal privacy and other legitimate rights of registered authors.” This provision protects the author fully and represents the authors legitimate rights like intellectual property (if any) and other rights and privileges accorded to the author by the contract and the law.
In reviewing a contract, there are important aspects to look for. This review will discuss the following;
- Terms
- You agree to surrender all your intellectual property rights in regards to the work and in return, Party A will remunerate you.
- Section 2.5 acts in your favor and it is a fair term of the contract
- Rights and responsibilities of both parties
Party B’s Undertakings (sec 3): the terms are reasonable.
Party B’s remuneration (sec 5): Sec 5.9 favors party B
Review sec 5.10 and Sec 5.11 to see if you agree with the full and sufficient consideration. It is prudent to do so, so that if you do something extra, you won’t demand for extra pay. If you are not okay with the provision, kindly ask for an adjustment clause so that the clause can cover you in case you perform any extra work that might require a pay.
- Confidentiality provision: Reasonable
- Remedies available to each party: Reasonable
- Termination
- Sec 2.7 is a reasonable term upon termination.
- Resolution of disputes: Arbitration is reasonable.
Remarks
The document had been drafted carefully to ensure fair terms that favors both parties.
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