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Appendix(2) (To be submitted by email / fax by Successful Bidder of Reverse Auction within 24 hours from the end of Reverse Auction event) To, Canara Bank, Integrated Treasury Wing, Mumbai Date :
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Business rules and terms are guidelines and conditions that govern the operations and practices of a business, outlining how decisions are made and the expected behaviors in various scenarios.
Typically, businesses that engage in regulated activities or those that have formal agreements with stakeholders, including partners and vendors, are required to file business rules and terms.
To fill out business rules and terms, organizations must gather relevant data, define the rules clearly, ensure compliance with legal standards, and submit the document according to the regulatory body's specifications.
The purpose of business rules and terms is to provide a clear framework for business operations, ensure compliance, minimize disputes, and establish expectations for behavior and performance among parties involved.
Business rules and terms must report information such as the scope of business activities, compliance requirements, roles and responsibilities, dispute resolution processes, and any specific conditions or obligations of the parties.
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