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What is preliminary provision?

Updated: 4/12/2024
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13y ago

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In any contract or agreement, there are conditions which must be met by all parties involved. Provisions are used in an agreement or contract to make sure that all parties are satisfied, thereby provisions are "actions provided" to ensure every party has recourse if not satisfied. A preliminary provision is action that could be, but is not required to be taken by any one or all parties of the contract before the contract is even signed, so that there is no misunderstandings going into the agreement or contract from the start.

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