| Commentary

46 General

| Commentary

(d) Main Commercial Provisions

46 General

The main commercial provisions set out the main obligations of the parties, and usually commence with a short statement of the essence of the contract1. The advantages of this approach are that it indicates clearly to all parties (and anyone who relies on or needs sight of the contract):

  1. 46.1

        what is being provided;

  2. 46.2

        what is being provided in return for payment; and

  3. 46.3

        that the person making the payment has an obligation to make it.

The short statement will contain defined terms and/or references to other provisions of the agreement, and the schedules (if

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