Before You Sign. Contract Basics for the Emergency Physician (1996) Xxxxx Xxxxxxx and Xxxxxx X. Xxxxxxxx (authors)
Before You Sign. It is important for the parties to perform business and legal due diligence on each other. • Business Due Diligence: Contractual arrangements with physicians are based on both the personality and professionalism of the parties. Business due diligence will help reassure the parties that there is a reasonable personal and financial basis for the parties to enter into a contract. Business due diligence includes review and research into the following issues: What is the professional background of the parties — what is the professional and business reputation of each party? What kinds and how many malpractice actions have been filed? What managed care plans are in effect? What do the financial statements look like? Who are the parties’ accountants? Bankers? What has been the experience of each party in similar contractual arrangements?
Before You Sign. A Binding Contract The proposed agreement described in this disclosure represents the terms for a power purchase agreement (“PPA”) for a photovoltaic (“PV”) system that will be installed on your property. With a PPA, another party will own the system and you will purchase the electricity generated at a discounted, fixed rate. Because you will not own the PV system you are leasing, you are not eligible to take the federal income tax credit for PV system owners. The purpose of this form is to provide you with clear and accurate information about the terms of your agreement, but this form is not a substitute for your contract. Do not rely exclusively on this form for your PPA agreement. You should read your PPA agreement closely before you sign it. The Illinois Solar for All program requires that you are presented with this disclosure at least seven days before signing your PPA agreement. You may want to discuss the information presented here with an accountant or financial professional during those seven days. You will have another seven days after signing the contract to terminate that contract. Installation site information Customer Contact information Site Owner Name Name Street Street Apartment/Suite Apartment/Suite City City State State ZIP Zip Phone Phone Email Email Electric Utility Number of Units in Building If you have questions after reviewing this Disclosure Form, contact your Approved Vendor or Seller (these may be different companies). You can also contact the Illinois Solar for All Program Administrator via email at xxxx@XxxxxxxxXXX.xxx or via phone at 0-000-000-XXXX (4732). Seller Approved Vendor Name Name Street Street Apartment/Suite Apartment/Suite City City State State ZIP ZIP Phone Phone Email Email Financial Summary The following is a summary of important financial information you need to know about the PV system your Seller has designed for you. More detailed information about the system design, costs, and savings can be found further in this form. Any system size variations once submitted for approval that is plus or minus more than 5% of the specifications listed here will require completion and submission of a new Disclosure Form. The Disclosure Form should exactly match what is presented in the contract. S Y S T E M S I Z E kW AC kW DC S U M M A R Y O F C O S T S A N D S A V I N G S PPA Starting Rate Current Average Residential Electricity Rate $ / kWh
