The Agent is not liable to the Principal for failure to Counter-party a deal struck with him at the expense of the Principal, except as provided by paragraph 3.4. Continue to learn more with: Dan Miller. this contract. In case of default Counterparty transactions concluded with him by the Agent, the Agent shall immediately notify the Principal, to gather the necessary evidence, and at the request of the Principal to give him the right to such a transaction. 3.4. The agent is responsible to the Principal for Counterparty failure to deal concluded with him by the Principal pursuant to this contract, when the agent is not shown due diligence in selecting the Contractor.
Agent is displayed the necessary diligence, when he carried out properly the following steps: 3.4.1. Check the foundation documents and powers of the representative of the counterparty. 4. force majeure 4.1. The parties are relieved from liability for partial or full default of obligations under this Agreement if such failure was caused by force majeure such as strikes, floods, fires, earthquakes and other natural disasters, and war or military operations that began after the conclusion of this contract. 4.2. In the circumstances referred to in paragraph 4.1, each party shall not later than five (5) calendar days, notify them in writing to the other side. The notice must contain information on the nature of the circumstances and, if possible, official and other documents certifying the existence of such circumstances and give an assessment of their impact on the ability Parties fulfill their obligations under this agreement.