Master Agreement Account Change Notification Obligation

Definition

Master Agreement Account Change Notification Obligation. The obligtation to notify the counterparty to this agreement, of any changes in account details.

Example

Example text: "Either party may change its account for receiving a payment or delivery by giving notice to the other party at least five Local Business Days prior to the scheduled date for the payment or delivery to which such change applies unless such other party gives timely notice of a reasonable objection to such change." Note that the notice period is given as a fact about the general kind of obligation which is Master Agreement Change notification Obligation.

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.