What is a counterpart in a contract?

Counterpart is a copy or duplicate of a legal instrument. Where an instrument, especially a contract, is signed by the parties on different copies, one of the copies is the original while the others are counterparts.

What is a counterpart of a document?

A counterpart of a document is a copy. It is usually created: (a) to accommodate situations where parties are unable to execute a single document at the same time or. place – because they may be, for example, located in different cities, countries, time zones or otherwise. unavailable at the time of signing.

What does a counterpart clause do?

A counterpart clause is a clause that allows parties to a deed (or agreement) to execute separate copies of the same deed (or agreement). So, even though all parties signatures don’t appear on the same deed or agreement, separately, they are still binding. ​This Deed may be executed in any number of counterparts.

How do you execute a counterpart?

Counterparts. Simple contracts and deeds are often executed in counterparts. This means that each party to the contract will sign separate but identical copies of the same document. The signed copies will together form a single binding agreement.

What do you mean by ” signed in counterparts “?

Counterparts Signed in Counterparts. This agreement may be signed in any number of counterparts. All Counterparts Original. Each counterpart is an original. Counterparts Form One Document. Together, all counterparts form one single document. Tags NeutralExchange AgreementsCounterparts About Clause Taxonomy: Counterparts Organization: Public

What does the counterparts clause in a contract mean?

The Counterparts clause states that parties need not sign the same copy of an agreement and any of the copies can be treated as an original for evidentiary purposes. Some clauses stipulate that the agreement is not effective until one party delivers their signed agreement to the other.

When do you use counterparts in a statement of work?

In a Statement of Work for a Freelancer: Execution by Counterparts/Facsimile. This SOW may be executed and delivered in counterparts by facsimile, each of which so executed and delivered counterpart is original, and such counterparts, together, shall constitute but the same instrument.

What’s the difference between a counterpart and a counterpart?

Counterparts Signed in Counterparts. This agreement may be signed in any number of counterparts. All Counterparts Original. Each counterpart is an original. Counterparts Form One Document. Together, all counterparts form one single document.