What is a submission agreement, and what conditions are usually specified in such an agreement?
What will be an ideal response?
A submission agreement provides that a specific dispute will be resolved through arbitration. Usually, it specifies the following conditions:
1. How the arbitrator will be selected;
2. The nature of the dispute;
3. Any constraints on the arbitrator's authority to remedy the dispute;
4. The place where the arbitration will take place; and
5. A time by which the arbitration must be scheduled.
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Why might a company that highly values building long-term relationships with customers be reluctant to use a sales force compensation strategy that focuses on commissions?
What will be an ideal response?
If you sign a standard bank guarantee form, for which of the following would you be liable?
A) All debts and liabilities at any time owing by the principal debtor to the Bank. B) Loans made by the Bank to the principal debtor now or in the future, which remain unpaid C) Interest and legal costs D) No more than the loan advanced at the time you signed the guarantee E) A, B, and C