COVER PAGE FOR UPLOADING OF AGREEMENTS ON CONTRACT REPOSITORY
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HIPP GUIDELINES FOR DRAFTING AND EXECUTION OF CONTRACTS
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HELLO FRIEDNS. WELCOME TO THE LEARNING MODULE FOR HIPP GUIDELINES AND EXECUTION OF CONTRACTS.
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In this module we are going to cover the following topics:.
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When Agreement becomes a Contract:. HIPP- GUIDELINES FOR DRAFTING AND EXECUTION OF CONTRACT IN HIPP.
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Steps involved to create an Agreement in HIPP. Parties ascertain the scope of services. The contracting department either provide the draft or request to prepare the draft for the agreed terms. In both the circumstances the Legal Department provide the draft or vet the draft, keeping the best interest of HIPP..
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Thus, the entire process is concluded into three major steps :.
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DRAFTING AND VETTING. HIPP- GUIDELINES FOR DRAFTING AND EXECUTION OF CONTRACT IN HIPP.
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Major check points while drafting any Agreement. STAMP PAPER.
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STAMP PAPER. VALUE OF STAMP PAPER. The value of stamp paper for Lease Agreements should be in accordance with respective State Stamp Acts. Lease agreements having a term more than one year or to be renewed after every 12 months are required to be registered. It is advisable to execute agreements, which are not required to be registered, on a stamp paper of Rs. 100..
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SCENARIO. PRITI SAN EXECUTED A CONTRACT DATED 01.04.2023 ON A STAMP PAPER DATED 02.04.2023..
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The date of Stamp paper cannot be after the date of execution of the Contract..
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SCENARIO. A LEASE AGREEMENT IS TO BE EXECUTED FOR AREA SALES OFFICE JAIPUR. THE OTHER PARTY HAS ITS REGISTERED OFFICE IN KOLKATA AND HEAD OFFICE IN CHENNAI. PRITI SAN BOUGHT A STAMP PAPER FROM GREATER NOIDA AND EXECUTED THE CONTRACT..
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The Stamp Paper should be bought from either of the following places : 1) KOLKATA 2) CHENNAI 3) JAIPUR.
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Other check points while drafting an agreement:. HIPP- GUIDELINES FOR DRAFTING AND EXECUTION OF CONTRACT IN HIPP.
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PRINTING AND SIGNING. HIPP- GUIDELINES FOR DRAFTING AND EXECUTION OF CONTRACT IN HIPP.
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Printing and Signing can be divided in three major steps:.
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All three major areas are summerised herein below:.
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UPLOADING CONTRACTS TO THE HIPP REPOSITORY. HIPP- GUIDELINES FOR DRAFTING AND EXECUTION OF CONTRACT IN HIPP.
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Purpose of submitting the Contracts into the Repository.
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Pre-requisites of submission of the Contract for uploading in the HIPP Repository.
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NFA should have following details:. A clipboard with a pen Description automatically generated.
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Common pitfalls while submitting the Contract to upload:.
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DIFFERENT TYPES OF AGREEMENTS. In HIPP we enter into many transactions resulting into various agreements, such as:.
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Following Contracts are required to be uploaded into the repository:.
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How to Renew a Contract:. Whenever term of a Contract is expired it can be renewed in following ways:.
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In this module we have covered the following topics:.
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THANK YOU. A red text on a black background Description automatically generated.