Tripartite Agreement Draft

Any tripartite agreement (“TPA”) is an agreement between the parties to the contract mentioned below and a member of a dispute resolution commission. The identical TPA is used for all DB members. This agreement did that……. Day of ………. 2018 between the employer, i.e. DAKSHIN HARYANA BIJLI VITRAN NIGAM (`owner or DHBVN whose expression includes its directors, company under the Companies Act, 1956`), on the one hand, and M/S,.. having its registered office at The Bank, it agrees not to enter into an agreement with any other party to assume primary responsibility for this tripartite agreement without the prior written consent of the client. Notwithstanding Covenants 6, 7 and 8, if the contracts are not renewed or terminated, this tripartite agreement between the customer, the contractor and the bank is automatically terminated by the service of a written notification to the bank. This tripartite agreement shall terminate automatically at the end of the period referred to in point 6 above. The CUSTOMER will request from the bank a credit (irrevocable, insofar as obligations are contracted when the bank has acted in accordance with the instructions of the contractor) in favor of the account. The customer authorizes the bank to submit a request for 1031 draw down (the “draw-down”) against the flow-through, in accordance with the draw down instructions agreed by the parties (the “draw down instructions”) to the competent Federal Reserve Bank. Applications are limited to the number of (a) cheques and other goods, including electronic transfer (EFT) items issued by or on behalf of the holder and subject to daily payment or likely to be subject to payment (individually”, “item”, and together “items”); (b) all withdrawals or charges from the Account, in accordance with the usual procedures for processing Items, including adjustments and refunds related to Items (the “Adjustments”) and (c) prior overdrafts, if any, net of other recovered deposits.

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