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Material Agreement Linguee

April 10th, 2021 in by admin

The VVB submitted that ownership of the goods had been transferred to them in the free communication because they had included the “reported values” of the materials in the raw certification. Optilan submitted that neither the payment certificate nor the toll notification could constitute the receipt of the “payment” and that the abandonment had not taken place. To complicate matters, vvB has become insolvent. Optilan`s interpretation would mean that the amount payable for the materials was somehow “isolated” or “secure” by other issues that would have overestimated the estimate of the amount owed by the VVB, which may not be correct. In other words, the VVB`s promise was not to pay the value of the materials, but to include the corresponding amount in the next interim payment certificate and then address it with other certified items and in exchange for previous payments. A recent case highlights the role that vesting clauses and vesting certificates can play in the possession of materials. The Tribunal examined the conditions of the ambiguous free movement certificates to determine the existence of a transfer of ownership of goods and materials. A free movement clause is a contractual clause relating to the transfer of ownership of goods and materials and a certificate of free movement is a document attesting to the transfer of ownership of those goods or materials. When Optilan requested intermediate payment 39, the VVB issued a request for payment followed by a free notice attesting to the net payment to Optilan of “nil”. In the royalty-free communication, WWB used the raw valuations of the materials, which were broadly similar to Optilan`s request for payment, but then took into account various claims, which meant that the amount owed to Optilan was zero. Although indeed of general interest, the Tribunal`s approach is in interpreting the ambiguous wording on the diversion of quotas in the payment procedure for work contracts. When the removal of the materials relates to the payment transaction, it is likely that the interim payment transaction will allow the payable party to deduct the amount requested taking into account issues that are not the value of the materials.

The court decided, in favour of the VVB, that no actual payment should be made to Optilan in order for the materials to be transferred to VVB. The case of VVB M- E Group v Optilan Ltd [2020] EWHC 4 concerned a dispute between VVB, the subcontractor, and its subcontractor Optilan over the Crossrail project. Optilan was responsible for supplying specialized telecommunications systems equipment for the project. Although the language of the Vesting certificates was ambiguous, as it dealt with the immediate appropriation of a future event, the court found that the Vesting certificate was part of the payment process. This meant that the parties had agreed that the materials had been transferred to the VVB property, provided that the VVB included in the raw certification the agreed values against free movement materials. The contract required that the goods be delivered to VVB prior to delivery to the site. This objective should be achieved by issuing an Optilan vesting certificate. The particular text of the vesting certificate provided that “ownership in materials unconditionally … receiving the interim payment referred to above.”

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