What does signed in counterpart mean?
The term “counterpart” is used in legal documents to describe a copy of a contract that is signed and is considered legally binding, in the same way as the original. In many cases, several copies of a contract document are prepared, so that all parties and signatories can have a copy of the contract.
What is a counterpart clause?
Counterpart clauses are often used when the parties to an agreement are executing separate copies of that agreement. They are primarily used: in any other transaction where circumstances prevent a single copy of an agreement being signed by all parties to it on the signing date.
Can be signed in counterparts clause?
In short, contracts and deeds can usually be signed in counterpart. The absence of a specific counterpart clause should not affect the validity of a deed where a deed has been executed in counterpart. However, having such a clause can help to prevent another party from claiming that an agreement is not binding.
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.
Are counterparts clauses necessary?
Including counterpart clauses, while not necessary, does reduce risk. Counterpart clauses are especially useful for contracts with many parties that are unable to be physically present to sign. Conversely, a counterpart clause will be irrelevant if all parties are able to meet to sign a single copy of the contract.
How do you execute a counterpart?
A way of executing a document that is intended to have legal effect between two or more parties, which involves each party signing their own separate copy of the document and then exchanging their signed copy for the copy that has been signed by the other party.
What is the purpose of the counterparts provision in an agreement?
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.
Can a deed be executed in counterparts Singapore?
Any Singapore law governed contract or deed can be executed in counterparts, regardless of whether a counterparts clause is included.
How is a counterpart document may be proved?
61. The contents of documents may be proved either by primary or by secondary evidence. Where a document is executed in counterpart, each counterpart being executed by one or some of the parties only, each counterpart is primary evidence as against the parties executing it. Explanation 2.
Is a scanned copy of a signed document legal?
In security terms, that means it is easily forged. Indeed, in the absence of proof, a scanned signature is considered to be a copy, and not an authentic signature! It is therefore not legally valid, particularly when contractual documents are concerned.
What is a male counterpart?
Someone’s or something’s counterpart is another person or thing that has a similar function or position in a different place. The female reporters were paid less than their male counterparts.
Can a facsimile agreement be signed in counterparts?
Execution in Counterparts; Facsimile Signatures This Agreement may be executed in counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original, and all of which counterparts, taken together, shall constitute one and the same instrument even if both Parties have not executed the same counterpart.
Can a signed agreement be signed in counterparts?
Agreement May Be Signed in Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. Confirmation of execution by electronic transmission of a facsimile signature page shall be binding on a party so confirming.
When do counterparts become effective in a contract?
This agreement. may be signed in any number of counterparts, each of which is an original and all of which taken together form one single document, and. shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party.
How is an agreement executed in an counterparts?
Execution Counterparts This Agreement may be executed in any number of counterparts, each of which shall be regarded as an original and all of which shall constitute but one and the same instrument.