Original Source: Contract Standards

“The Equitable Relief clause (also known as a Specific Performance, Irreparable Harm or Injunctive Relief clause) is used to secure special, equitable, remedies for contract breach when money or legal damages would be inadequate.  

The clause typically contains four elements:

a statement that a breach of the agreement could result in irreparable damages or injury;

an acknowledgement that legal, monetary relief would not compensate for the breach;

the parties’ intent that the non-breaching party should be entitled to injunctive or other equitable relief; and that

the non-breaching party will not be required to post bond…”

https://www.contractstandards.com/public/clauses/equitable-relief

Contributors: Open Source
Categories: SIG U Resource, Tool
SRC Type: Governance, Risk Management, Sourcing Management