Estoppel Cert Clause is a contractual clause that requires one party to a contract to certify or confirm that all prior representations or statements made by the other party are true and correct. It typically requires the party making the certificate to confirm that the other party has performed all its obligations under the contract, that the contract is in full force and effect, and that there are now pending or asserted claims or disputes between the two parties. Estoppel certificates are used to protect one party from falsely relying on the other party’s representations, and to provide assurance that the contract remains valid. There are three types of estoppel certificates: * Qualified Estoppel Certificate: This type of estoppel certificate is issued by one party and is not legally binding on the other party. It states that the signatory party has no knowledge of any breach of the contract or any other claims by one of the parties. * Unqualified Estoppel Certificate: This type of estoppel certificate is legally binding on both parties. It certifies that all the representations, warranties, and agreements made in the contract are true and correct. * Limited Estoppel Certificate: This type of estoppel certificate is similar to an unqualified one, but it is limited in scope and only applies to some representations, warranties, and agreements in the contract.
Estoppel Clause
Description
How to fill out Estoppel Cert Clause?
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