When it comes to conducting business, contracts are an essential part of the process, outlining the terms and conditions of an agreement between two or more parties. Oftentimes, certain phrases or terms are used within these contracts that may not be immediately clear to everyone. One such phrase is “as per contract.” In this article, we`ll explore what “as per contract” means and how it applies to various business scenarios.
“As per contract” is a legal term used to indicate that a particular action or decision is in accordance with the terms of a contract. Essentially, it means that a party is following the agreed-upon guidelines set forth in the contract. This phrase is often used in legal documents, contracts, and business agreements where adherence to the terms of the agreement is critical.
For example, let`s say that two companies have agreed to a partnership where one company will supply the other with certain products. The contract lays out the terms and conditions of the partnership, including pricing, delivery timelines, and product specifications. If the supplying company delivers the agreed-upon products at the agreed-upon time and price, they are acting “as per contract.” On the other hand, if they deliver the wrong product or miss a delivery deadline, they would not be acting “as per contract,” and the other company could rightfully take action to address the breach of the agreement.
“As per contract” can also be used to limit liability in a business context. For example, if a company is providing a service to a client, the contract may state that the company is not responsible for any damages or losses incurred by the client while using the service. This clause would protect the company from legal action if something went wrong while the client was using the service “as per contract.”
In some cases, the phrase “as per contract” may be shortened to “per contract,” but the meaning remains the same. It`s important to note that “as per contract” is a legal term, and its use should be limited to situations where legal compliance is a factor.
In conclusion, “as per contract” is a phrase used to indicate that a particular action or decision is in accordance with the terms of a contract. This phrase is often used in legal documents, contracts, and business agreements where adherence to the terms of the agreement is critical. It`s important to understand the meaning of this phrase because it can have significant legal implications for businesses and individuals alike. Always make sure to carefully review any contracts before signing them and seek legal advice if you have any questions or concerns.