Compliance Agreement

Compliance Agreement

Signing Date of Agreement
Commencing Date of Agreement
Ending Date of Agreement
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“**COMPLIANCE AGREEMENT** THIS AGREEMENT is made on this ______ day of ___________, 20______ between: AND (1) [Name of the Government Body], a statutory body constituted under the [Act Name] and having its registered office at [Address] (hereinafter referred to as the “”Government””), which expression shall, unless repugnant to the context or meaning thereof, include its administrators, successors and assigns of the ONE PART; AND (2) [Name of the Other Party], a [Company/Individual] incorporated under the laws of [Country] and having its registered office at [Address] (hereinafter referred to as the “”Company/Individual””), which expression shall, unless repugnant to the context or meaning thereof, include its successors and assigns of the OTHER PART. **WHEREAS** (A) The Government, in the exercise of its powers, has established guidelines and regulations that must be complied with by the Company/Individual in its operations. (B) The Company/Individual has agreed to comply with the said regulations and guidelines as provided in this Agreement. **NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS CONTAINED HEREIN AND FOR OTHER GOOD AND VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, THE PARTIES AGREE AS FOLLOWS:** **1. DEFINITIONS AND INTERPRETATION** 1.1 Unless the context otherwise requires, the following terms whenever used in this Agreement have the following meanings: **2. BINDING TERMS** 2.1 The terms set forth in this Agreement, and any other documents incorporated by reference, constitute the entire and only agreement between the parties and supersede any and all prior or contemporaneous agreements, representations, warranties, and understandings relating to the subject matter of this Agreement. **3. NON-BINDING TERMS** 3.1 This Agreement is for the benefit of the parties and is not intended to confer upon any person or entity any rights or remedies hereunder. **4. DURATION OF THE AGREEMENT** 4.1 This Agreement shall commence on the Effective Date and continue in force until terminated by either party as provided in this Agreement. **5. COMPLIANCE WITH LAWS AND REGULATIONS** 5.1 The Company/Individual shall comply with all applicable laws, regulations, guidelines, and policies of the Government. **6. COMPLIANCE MONITORING** 6.1 The Government shall have the right to monitor the Company’s/Individual’s compliance with the provisions of this Agreement. **7. BREACH OF AGREEMENT** 7.1 In case of breach of any terms of this Agreement by the Company/Individual, the Government shall have the right to take appropriate legal action. **8. COMMERCIAL TERMS** 8.1 The commercial terms, if any, between the parties shall be in accordance with Schedule ________ attached to this Agreement. **9. JURISDICTION** 9.1 This Agreement shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of ________, India. **10. AMENDMENTS AND WAIVERS** 10.1 No amendment or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties. **11. SEVERABILITY** 11.1 If any provision of this Agreement is held to be illegal, invalid or unenforceable, the remaining provisions shall remain in full force and effect. **12. FORCE MAJEURE** 12.1 Neither party shall be liable for any failure or delay in performance under this Agreement due to circumstances beyond its reasonable control. **13. CONFIDENTIALITY** 13.1 The parties shall maintain the confidentiality of all information received from the other party under this Agreement. **14. INDEMNITY** 14.1 The Company/Individual shall indemnify and hold harmless the Government from and against all losses, damages, liabilities, costs, and expenses arising out of any breach of this Agreement by the Company/Individual. **15. TERMINATION** 15.1 This Agreement may be terminated by either party by giving ________ days’ written notice to the other party. **16. DISPUTE RESOLUTION** 16.1 Any dispute arising out of or in connection with this Agreement shall be settled by arbitration in accordance with the Arbitration and Conciliation Act, 1996. **17. NOTICES** 17.1 All notices under this Agreement shall be in writing and shall be sent to the address specified in this Agreement. **18. ASSIGNMENT** 18.1 Neither party may assign any of its rights or obligations under this Agreement without the prior written consent of the other party. **19. RELATIONSHIP OF THE PARTIES** 19.1 Nothing in this Agreement shall be construed to create a partnership, joint venture, agency or employment relationship between the parties. **20. ENTIRE AGREEMENT** 20.1 This Agreement, along with its schedules and annexures, constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, between the parties. **IN WITNESS WHEREOF,** the parties hereto have executed this Agreement as of the date first above written. _______________________ _______________________ Name of the Government Body Name of the Company/Individual _______________________ _______________________ Signature Signature **SCHEDULES** Attached hereto are the following schedules, which form an integral part of this Agreement: Schedule 1 – Commercial Terms Schedule 2 – Compliance Guidelines and Regulations Schedule 3 – Breach and Remedies Schedule 4 – Indemnification Provisions Schedule 5 – Termination Provisions Schedule 6 – Dispute Resolution Provisions (Note: Please consult with a legal expert before using this template as it might not suit your specific needs or circumstances. The information provided herein is for general informational purposes only and should not be considered as legal advice.)”
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