The Common Agreement serves as a foundational legal instrument in Hong Kong's commercial landscape, designed to facilitate various business transactions and relationships. This document type is particularly valuable when parties need a robust yet flexible agreement that can be adapted to different commercial contexts while maintaining compliance with Hong Kong law. It incorporates key provisions required by Hong Kong legislation and common law principles, making it suitable for both domestic and international business dealings. The Common Agreement is frequently used when parties need a comprehensive yet standardized approach to documenting their legal relationship, particularly in situations where specialized agreement types may not be necessary. It includes essential elements such as clear party identification, detailed obligations, risk allocation, and dispute resolution mechanisms, all drafted in accordance with Hong Kong legal requirements.
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1. Parties: Identifies and provides full details of all parties to the agreement
2. Background: Sets out the context and purpose of the agreement
3. Definitions and Interpretation: Defines key terms and establishes interpretation rules
4. Scope of Agreement: Outlines the main subject matter and obligations
5. Duration and Term: Specifies the commencement date and duration of the agreement
6. Payment Terms: Details the payment obligations, amounts, and timing
7. Obligations and Responsibilities: Lists the specific duties of each party
8. Representations and Warranties: States the assurances given by each party
9. Termination: Specifies how and when the agreement can be terminated
10. Confidentiality: Establishes obligations regarding confidential information
11. Governing Law and Jurisdiction: Confirms Hong Kong law applies and jurisdiction for disputes
12. General Provisions: Contains standard boilerplate clauses
13. Execution: Signature blocks and execution formalities
1. Intellectual Property Rights: Include when IP rights are being transferred or licensed
2. Data Protection: Include when personal data processing is involved
3. Force Majeure: Include when protection against unforeseen events is needed
4. Non-Competition: Include when restricting competitive activities
5. Assignment and Subcontracting: Include when transfer rights need to be specifically addressed
6. Insurance: Include when specific insurance requirements exist
7. Audit Rights: Include when one party needs right to audit the other
8. Change Control: Include when formal process for changes is needed
1. Schedule 1 - Services/Products Description: Detailed description of services or products covered
2. Schedule 2 - Pricing and Payment Terms: Detailed breakdown of prices and payment structure
3. Schedule 3 - Service Levels: Performance metrics and service standards
4. Schedule 4 - Key Personnel: Details of key staff involved in delivery
5. Schedule 5 - Permitted Uses: Specific authorized uses of services/products
6. Appendix A - Technical Specifications: Technical details and requirements
7. Appendix B - Form of Notice: Template for formal notices under the agreement
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