CCIP Clause Samples
The CCIP (Cross-Chain Interoperability Protocol) clause establishes the framework for enabling secure and reliable communication between different blockchain networks within the context of the agreement. In practice, this clause outlines the technical standards, protocols, and responsibilities for parties when transferring data or assets across chains, ensuring that interoperability is maintained and that transactions are executed as intended. Its core function is to facilitate seamless cross-chain operations, reducing the risk of miscommunication or loss of assets when interacting with multiple blockchain platforms.
POPULAR SAMPLE Copied 3 times
CCIP. A project specific insurance program initiated and administered by the Contractor to provide any or all of the insurance requirements set forth in Article 11. Insurance and Bonds, that will insure the interest of the Contractor, any Subcontractor or Sub-subcontractor performing Work at or incidental to the Project site.
CCIP. The City and Contractor will entertain participating in a contractor- controlled insurance program (CCIP) for the construction phase of the Project if the City determines, in its sole discretion, that the CCIP is to its financial benefit. Any approval of a CCIP shall be subject to the prior written approval of the City.