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1. www.procore.com › library › construction-closeoutConstruction Closeout Documents: What’s Included & Why

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   4 days ago · Warranties. Contract specifications should clearly state what warranties should be included in closeout documents. There are usually two types: workmanship and manufacturer. Contractors on the project give workmanship warranties, which state their work was done correctly and that, if problems arise, they will fix them.

2. www.handinlaw.com › understanding-the-basics-ofEssential Contract Law Terminology For Business Owners

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   1 day ago · Contract law is a branch of law that governs the agreements between two parties in a transaction. In the business landscape, a legally binding agreement follows the rules outlined by contract law. Contract law is applicable in various business circumstances, from establishing business partnerships and forming employment relationships to ...

3. legalvision.com.au › market-standard-warrantiesMarket Standard Warranties in Commercial Contracts - LegalVision

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   3 days ago · Warranties are included in commercial contracts to give parties the confidence to enter into an agreement with the other side. Certain warranties may relate to the quality of the goods or the capacity of the other side entering into a contract with you.

4. legalvision.com.au › difference-between-warrantyWhat's the Difference Between Warranties and ... - LegalVision

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   3 days ago · Warranties are assurances within the contract from the seller of the business to the buyer. The warranties layout information about the company, including: who owns the company before the sale; assets of the company; financial accounts; and. whether the company is subject to any legal proceedings.

5. aaronhall.com › insights › what-is-a-guaranteeWhat Is a Guarantee Agreement Clause? - aaronhall.com

   aaronhall.com › insights › what-is-a-guarantee

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   5 days ago · A warranty agreement clause is a contractual provision that outlines the specific terms and conditions under which one party assumes liability for another party's debt or obligation in the event of default. This clause defines the scope of the warranty, including the specific circumstances under which the warrantor's liability is triggered.

6. www.procore.com › library › construction-closeoutThe Construction Closeout Process Explained | Procore

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   4 days ago · Many requirements for closeout — such as warranties or documents for obtaining a certificate of occupancy — are easier to collect while work is ongoing. For example, a general contractor must collect a number of documents from each subcontractor, such as manuals, warranties, or lien waivers .

7. People also ask

   What is a warranty in business?

   • What is a Warranty? Warranties are assurances within the contract from the seller of the business to the buyer. The warranties layout information about the company, including: whether the company is subject to any legal proceedings. What Are the Purposes of Warranties?

   What's the Difference Between Warranties and Indemnities? - LegalVision

   legalvision.com.au/difference-between-warranty-indemnity-ma-transaction/

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   Why are warranties included in commercial contracts?

   • Warranties are included in commercial contracts to give parties the confidence to enter into an agreement with the other side. Certain warranties may relate to the quality of the goods or the capacity of the other side entering into a contract with you.

   Market Standard Warranties in Commercial Contracts | LegalVision

   legalvision.com.au/market-standard-warranties/

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   Should you include warranties in your transaction documents?

   • Including warranties in the transaction documents encourage the seller to disclose information to the buyer about the company. You will, therefore, have a contractual safety net if you suffer loss as a result of the seller breaching a warranty.

   What's the Difference Between Warranties and Indemnities? - LegalVision

   legalvision.com.au/difference-between-warranty-indemnity-ma-transaction/

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   What is a warranty clause in a commercial agreement?

   • Certain warranties may relate to the quality of the goods or the capacity of the other side entering into a contract with you. They are a useful tool to improve your chances of being able to make a warranty claim if things go wrong. Therefore, you should look closely at the warranties clause in any commercial agreement.

   Market Standard Warranties in Commercial Contracts | LegalVision

   legalvision.com.au/market-standard-warranties/

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8. legalvision.com.au › what-to-know-aboutSubcontractor Warranties: What You Should Know | LegalVision

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   3 days ago · Subcontractor warranties are any warranties you give to the principal related to your performance. As a subcontractor, you may have to pay damages to the principal for breach of warranty. That said, a breach of warranty does not necessarily entitle the innocent party to terminate the agreement.