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Product Specifications: All products supplied or manufactured by the auto industry must meet the specifications outlined in the agreement between the manufacturer and the buyer.
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Delivery Schedule: The auto industry shall adhere to the agreed-upon delivery schedule. Any delays must be communicated promptly to the buyer, along with revised delivery timelines.
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Quality Assurance: The auto industry ensures that all products meet the highest standards of quality and safety as per industry regulations and standards.
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Warranty: The auto industry provides warranties for its products as per industry standards. Warranty terms, including duration and coverage, will be clearly communicated to the buyer.
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Payment Terms: Payment terms shall be as agreed upon between the auto industry and the buyer. Any deviations from the agreed terms must be mutually discussed and approved.
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Intellectual Property Rights: The auto industry respects intellectual property rights and shall not infringe upon patents, trademarks, or copyrights of other entities.
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Confidentiality: Both parties agree to maintain the confidentiality of any proprietary information shared during the course of their business relationship.
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Compliance with Regulations: The auto industry shall comply with all relevant laws, regulations, and industry standards governing the manufacturing, sale, and distribution of automotive products.
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Dispute Resolution: Any disputes arising between the auto industry and the buyer shall be resolved amicably through negotiation and mediation.
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Termination Clause: Either party may terminate the agreement in writing with prior notice if the other party breaches any terms outlined in this agreement.
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Force Majeure: The auto industry shall not be liable for any delay or failure to perform its obligations under this agreement due to unforeseen circumstances beyond its control, including but not limited to acts of nature, war, terrorism, or government regulations.
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Governing Law: This agreement shall be governed by and construed in accordance with the laws of the jurisdiction in which the auto industry operates.
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Amendment: Any amendments or modifications to this agreement shall be made in writing and signed by both parties.
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Assignment: Neither party shall assign or transfer its rights or obligations under this agreement without the prior written consent of the other party.
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Entire Agreement: This agreement constitutes the entire understanding between the auto industry and the buyer and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter herein.
By entering into this agreement, both parties acknowledge that they have read, understood, and agree to abide by the terms and conditions outlined herein.