Long Term Agreement Clause

This directive is written for a term of THREE YEARS. The premium is due and payable at the beginning of each insurance year. The insured may choose not to pay the premium for a subsequent year by declaring the business at any time before the policy`s birthday. The premium for each year is 15% less than the premium to be paid at the company`s current rates for that year. In the event that the insured exercises the option of not paying the premium for a subsequent year, the policy expires at the end of the year for which the premium was paid. In this case, the company charges the insured the 15% discount allowed in previous years, and this invoice is a legally enforceable debt. By accepting the policy that is attached to that consent, the insured accepts the above conditions. For many commercial transactions, it is useful for UNHCR to sign a long-term agreement with a supplier, whether it is goods or services. These are known as “framework agreements” and we have signed them with a large number of companies for items used daily by UNHCR staff, including vehicles, radios, telecommunications equipment, generators and office equipment, as well as for assistance, including tents, blankets, bed mats and kitchen kits. Generic clauses that constitute a long-term agreement for services.

The purpose of the framework agreements between UNHCR and its suppliers is to define the terms of the terms of the terms and conditions of the terms of the terms of the contracts to be signed over a specified period of time, including with regard to items, price, quality, quantity and delivery. These temporary agreements (usually 3-5 years) are usually falsified as a result of an open international tender. They ensure that UNHCR can quickly place fixed-price orders for its needs, but do not guarantee that the Agency will purchase a minimum or maximum quantity of goods for the duration of the agreement. UNHCR`s framework agreements are not exclusive. MR 313 – cover for internal fire, internal chemical explosion and direct lightning ..

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