CONTRACT CREATION / EXECUTION Clause Samples
The CONTRACT CREATION / EXECUTION clause defines the process by which a contract becomes legally binding between the parties. It typically outlines the necessary steps for formalizing the agreement, such as requiring signatures from authorized representatives, specifying the effective date, and detailing any conditions that must be met before the contract is enforceable. This clause ensures that all parties clearly understand when and how their obligations commence, thereby preventing disputes over the validity or enforceability of the contract.
CONTRACT CREATION / EXECUTION. Except for contracts governed by Article 11-B of the State Finance Law, subject to and upon receipt of all required approvals as set forth in the Bid Specifications, a Contract shall be deemed executed and created with the successful Bidder(s) upon the Commissioner’s mailing or electronic communication to the address on the Bid/Contract of: (i) the final Contract Award Notice; (ii) a fully executed Contract; or (iii) a Purchase Order authorized by the Commissioner.