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ATTACHMENT 2 CONTRACT TERMSEXHIBIT A STANDARD PROVISIONS1. INDEMNIFICATIONThe Contractor shall indemnify, defend (with counsel satisfactory to the State), and save harmless the State and its officers,
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Provide details of the essence, which can include the purpose, importance, or significance of the time.
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Who needs time of essence?

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Time of essence is commonly required in various situations, including:
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- Business contracts and agreements, where time sensitivity is crucial.
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- Legal proceedings or court documents, to establish deadlines or time limits.
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- Real estate transactions, to outline important dates and deadlines.
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- Project management, to emphasize critical milestones or deadlines.
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- Shipping and logistics, to specify delivery timelines or commitments.
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- Any situation or task that requires a clear and enforceable timeframe.

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Time of essence refers to the legal principle that emphasizes the importance of adhering to specific time frames in a contract. If a contract states that time is of the essence, any delay in performance can result in a breach of contract.
Typically, the party seeking to enforce the time of essence provision in a contract, often the party who needs to perform within the stipulated timeframe, is required to file a notice of time of essence.
To fill out a notice of time of essence, one would typically need to include details such as the names of the parties involved, the specific obligations tied to the timeline, any relevant dates, and a statement indicating that time is of the essence.
The purpose of time of essence is to create a sense of urgency and to clarify that timely performance is a critical component of the contractual agreement. It protects parties from potential delays.
The time of essence notice must typically include the date and nature of the obligation, any relevant deadlines, names of involved parties, and a notification that the time for performance is crucial.
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