Efet Master Agreement



b) Decrease in negotiations: each party negotiates without delay in good faith to agree with the other of a PPU or a method of determination. In the absence of an agreement before the 5th business day following the settlement date, the following return mechanism applies; One party is not liable to the other party for the damage suffered by the other party, with the exception of z.B for non-delivery and acceptance remedies, unless the damage is due to gross negligence, deliberate delay or fraud by a party. Conversely, this means that a party is still responsible for non-delivery or acceptance, whether the party acted with light or serious negligence, deliberate delay or fraud. Since damages may be invoked for any type of “fault” or motive, such a provision must be properly considered in order to avoid any misunderstanding or misinterpretation of the agreement in this regard. The basic concept of the EFET agreement is to regulate the conditions for the supply and receipt of electricity. Paragraph 8 therefore analyses in detail the non-compliance with these commitments. EFET has commissioned legal opinions on the applicability of general power and gas agreements for many European countries, which are available to EFET members. The applicability of the general terms of sale of EFET in each country may vary according to local laws and customs. A list of countries and the cost of obtaining such legal advice are available on the EFET website (www.efet.org). During the duration of the EFET agreement, the financial situation of the parties will vary. In the event that one party`s financial situation deteriorates significantly, also known as a material adverse change1, the other party should be able to act quickly and require a performance guarantee.2 This insurance generally has the form of additional credit support. The agreements and the EFET library associated with it, with additional documentation, are currently the industrial standards applied throughout Europe to the trade in physical energy and gas.

The EFET-Master contract is avaiblabe: www.efet.org/Cms_Data/Contents/EFET/Media/Documents/Public%20Contracts/EFET%20General%20Agrement%20Power% 20%202.1 (a)%20F%20September%20200 7%20 (version%203).pdf (access: 8 February 2013) The same is true for the species. 12, par. 3 A) of the EFET`s director contract, as it clarifies that liability in the event of consequential damage under the agreement is not unlimited in time, but is limited to voluntary delays, fraud or acts that compromise the fundamental legal or contractual rights of a contracting party.


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