Handling of Insurance and Liabilities
Parties shall maintain individual insurance coverage for their healthcare facilities during the duration of this contract. The obtained insurance shall cover general liability, professional liability, and any other coverage prescribed by jurisdictional laws.
The parties acknowledge that certain liabilities may arise from shared activities or resources. In such cases, parties shall share the responsibility based on the agreed-upon methodology.
Billing and Payment Procedures
The parties shall establish a clear and transparent billing process for the services rendered under the partnership. It's the responsibility of each party to submit invoices promptly and accurately based on the established schedule. Parties shall also submit required supporting documentation when invoicing.
Invoices for payments shall be submitted (Insert Invoicing Schedule, monthly, weekly, annually, etc.), and payments for invoices shall be made within (Insert Payment Duration) of invoicing. Payments delayed by (Insert Timeframe) shall be subject to a (Insert figure or percentage) late fee.
It's the individual responsibility of the involved parties to maintain accurate and complete financial records during the duration of this agreement. Parties shall avail these records for audit, inspection, or any other reasonable request upon receipt of a written request.
Indemnification and Liability
Indemnification of Each Party by the Other
Party A (Hospital Facility 1) agrees to indemnify and hold harmless Party B (Hospital Facility 2), its officers, directors, employees, agents, and representatives (collectively referred to as "Indemnitees") from and against any and all claims of damages, liabilities, losses, expenses, and costs (including reasonable attorney's fees) arising out of or related to:
i. Any negligent acts or omissions of Party A, its employees, agents, or representatives in performing its obligations under this partnership agreement.
ii. Any breach of representation, warranty, or covenant made by Party A under this agreement.
iii. Any violation of applicable federal, state, or local laws, regulations, or standards by Party A or its personnel in connection with the services provided under this partnership agreement.