Dear [INSERT NAME],
The [INSERT AGREEMENT] is in progress of being drafted and I wanted to provide a high level list of what provisions will be included in [our / your] [INSERT AGREEMENT]. I believe this list captures the discussions we have had regarding the content and language of the Agreement.
- 1. [example: Name of Parties - HoundCo: John Smith Counterparty: Jane Joe]
- 2. [example: Term of agreement - 1 year]
- 3. [example: Renewal of agreement - Upon agreement of the parties]
- 4. [example: Fees to be paid - $1200 + HST per term]
- 5. [example: Description of Services/Delivery of product: Within 7 days of payment being processed]
- 6. [example: Termination of agreement - Upon consent of the parties or upon Term of agreement expiring]
- 7. [example: Insurance on product - Yes, to be paid by Counterparty with proof provided]
- 8. [example: Maintenance of product - Yes, to be paid by Counterparty]
- 9. [example: Default - If any of the following events occur (a) default in payments or performance of obligations, (b) equipment is seized by any third party, or (c) if Counterparty ceases to carry on business]
- 10. [example: Remedies upon default - (a) terminate the agreement, (b) sell the equipment, (c) demand payment immediately]
Please review these terms carefully as they [are / will] be drafted into the [INSERT AGREEMENT].
Thank you and we look forward to completing this agreement by [INSERT DATE].
Best Regards,
[INSERT NAME][insert position][HoundCo]