General Terms of Contract are essential for businesses operating in Hong Kong that engage in repeated transactions with their commercial partners. This document type is particularly valuable when parties anticipate an ongoing business relationship involving multiple transactions over time. The terms establish a framework that governs all future dealings, reducing negotiation time and transaction costs while ensuring consistency in commercial relationships. By incorporating Hong Kong law requirements and common commercial practices, these General Terms of Contract provide comprehensive coverage of key issues such as contract formation, performance standards, risk allocation, and dispute resolution mechanisms. They are designed to be flexible enough to accommodate various types of goods or services while providing sufficient certainty and protection for all parties involved.

1. Parties: Identifies and defines the contracting parties with their full legal names and addresses

2. Background: Sets out the context and purpose of the general terms

3. Definitions and Interpretation: Defines key terms used throughout the document and establishes interpretation rules

4. Scope of Agreement: Outlines the general scope and application of the terms

5. Formation of Contract: Describes how individual contracts are formed under these general terms

6. Obligations of the Parties: Sets out the general obligations and responsibilities of each party

7. Prices and Payment: Establishes pricing principles, payment terms, and invoicing requirements

8. Term and Termination: Specifies the duration of the agreement and grounds for termination

9. Confidentiality: Establishes obligations regarding confidential information

10. Intellectual Property: Addresses ownership and usage rights of intellectual property

11. Liability and Indemnification: Sets out liability limitations and indemnification obligations

12. Force Majeure: Addresses circumstances beyond parties' control affecting performance

13. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes

14. General Provisions: Contains standard boilerplate clauses including notices, assignment, and entire agreement