tion of any of such laws, ordinances, rules and orders, and will indemnify the General Contractors for any loss or damage resulting to them by reason of any such violation.

10. Should the proper, workmanlike and accurate performance of any work under this contract depend in any way upon the proper, workmanlike or accurate performance of any work by another contractor on said building, the Sub-Contractor agrees to use all means necessary to discover any defects in such contractor's work, and to report the same, in writing, to the General Contractors before proceeding with his work which is so dependent; and shall allow to the General Contractors a reasonable time to remedy such defect, it being the intention of the parties hereto that the entire work on said building shall be properly performed in a workmanlike manner.

11. The General Contractors will provide all labor and materials not included in this contract in such manner as not to delay the material progress of the work, and in the event of failure so to do, thereby causing loss to the Sub-Contractor, agree that they will reimburse the Sub-Contractor for such loss; and the Sub-Contractor agrees that if he shall delay the material progress of the work so as to cause any damage for which the General Contractors shall become liable, then he shall make good to the General Contractors any such damage over and above any damage for general delay herein otherwise provided; the amount of such loss or damage, in either case, to be fixed and determined by the Architect, or by arbitration as provided in paragraph 3 of this contract.

12. It is hereby mutually agreed by the parties hereto that the sum to be paid by the General Contractors to the SubContractor for said work and materials shall be..

100

00 dollars (હ. 100) subject to additions or deductions, as hereinbefore provided, and that such sum shall be paid in current funds by the General Contractors to the Sub-Contractor in monthly payments on account, not to exceed in amount .per cent. of the cost of the work actually erected in the building, provided that the Sub-Contractor furnishes to the General Contractors a written requisition, on a form to be supplied by the General Contractors not less than twelve days

before payment is required, it being understood that the final payment shall be made within forty days after this contract has been completely performed and all drawings, plans and specifications have been returned to the General Contractors by the Sub-Contractor; and provided that before each payment, if required, the Sub-Contractor shall give the General Contractors good and sufficient evidence that the premises are free from all liens and claims chargeable to the said SubContractor; and further that if, at any time, there shall be any lien or claim or conditional contract for which, if established, the General Contractors or the said premises might be made liable, and which would be chargeable to the said SubContractor, the General Contractors shall have the right to retain out of any payment then due, or thereafter to become due, an amount sufficient to completely indemnify against such lien or claim, until the same shall be effectually satisfied, discharged or cancelled, and should there prove to be any such claim after all payments are made, the Sub-Contractor shall refund to the General Contractors all moneys that the latter may be compelled to pay in discharging any lien on said premises made obligatory in consequence of the former's default.

13. It is further mutually agreed between the parties hereto that no payment made under this contract, shall be conclusive evidence of the performance of this contract, either wholly or in part, against any claim of the General Contractors, and no payment shall be construed to be an acceptance of any defective work.

14. In case the nature of the damages or defects of any particular work or works is such that in the judgment of the General Contractors it is not expedient to have the work corrected, the General Contractors shall have the right to take such sums of money from the amount due to the Sub-Contractor, on the final settlement of the accounts as the General Contractors consider a fair and reasonable remuneration for the difference in value of the material or work furnished from that specified, or for the damage to the complete work.

15. The Sub-Contractor will insure the works to cover his interest in the same from time to time; and for any loss of the

Sub-Contractor by fire the General Contractors will not, under any circumstances be answerable or accountable; but the General Contractors may protect the works at their option by insurance to cover their interest when payments have been made to the Sub-Contractor.

16. The Sub-Contractor is to furnish a competent representative who is to be kept constantly on the ground to represent the Sub-Contractor for the purpose of receiving notices, orders, and instructions. The Sub-Contractor is also, when called upon by the General Contractors to report the general progress of the work at the building or elsewhere.

17. In case of day work all vouchers for same are to be delivered to the General Contractors at latest during the week following that in which the work may have been done, and only such day work is to be allowed for as such as may have been authorized by the General Contractors in writing to be so done.

18. The Sub-Contractor further agrees in all cases of additions and deductions, omissions or substitutions to charge or credit the amounts of same at market rates, and to furnish schedule of unit prices for the purpose of checking up requests for payment on account.

19. The Sub-Contractor shall not let, assign or transfer this contract or any part thereof or any interest therein, without the written consent of the General Contractors, and the SubContractor agrees that in the event that any part of the work included in these Articles of Agreement is sub-let by him, that he will exact from his Sub-Contractor compliance with the General Conditions of the Specifications, together with all the Articles of this Agreement, and that he will execute with his Sub-Contractor a contract by which the latter shall expressly agree to this provision.

20. The Sub-Contractor shall make no claim for additional work unless the same shall be done in pursuance of written order from the General Contractors, and notice of all such claims shall be made to the General Contractors in writing before the next ensuing payment, or shall be considered as abandoned by the Sub-Contractor. Bills for any additional work shall be rendered at such time and in such form as directed

by the General Contractors. For the purpose of checking such bills, the Sub-Contractor shall upon request produce any and all data required to determine the correctness of the charges.

21. Wherever notice in writing to be given to Sub-Contractor is herein provided for, a notice mailed to the last known address of the Sub-Contractor shall be sufficient.

22. The Sub-Contractor further agrees not to display on or about the premises any sign, trade-mark or other advertisement, and to remove everything of an advertising nature when so directed by the General Contractors.

23. Before final payment is made, the Sub-Contractor agrees to execute a written guarantee for his work, agreeing to make good, without cost to the Owner or General Contractors, any and all defects due to imperfect workmanship or materials, which may appear during a reasonable time, the length of such time to be determined by the General Contractors.

24. The Sub-Contractor further agrees that all disputes arising between himself and his employees shall be adjusted according to the joint arbitration plan of the...

as set forth in.

and the representatives of the...

25. The Sub-Contractor further agrees.

And the said General Contractors hereby promise and agree with the said Sub-Contractor to employ, and do hereby employ him to provide the materials and to do the said work according to the terms and conditions herein contained and referred to for the price aforesaid, and hereby contract to pay the same at the time, in the manner and upon the conditions above set forth.

And the said parties for themselves, their heirs, executors, administrators and assigns, do hereby agree to the full performance of the covenants herein contained.

IN WITNESS WHEREOF, the parties to these presents have hereunto set their hands and seals, the day and year first written above.

COMMERCIAL CONTRACTS

LETTERS OF CREDIT 1

Letter of Advice

(AMERICAN CONFERENCE FORM A)

1. Revocable and Unconfirmed Letter of Advice. No..

8. opened a credit available by your drafts on.

9.

10.

11. of.

12.

13. for invoice cost of.

has

at

up to an aggregate amount

(figures) (words)

21. As we have not been advised that this is an irrevocable 22. credit, it is subject to modification or cancellation by our 23. correspondent or ourselves at any time without notice, 24. and this advice, being simply for your guidance in preparing documents, conveys no engagement.

25. In any event, drafts presented on us after.. will not be honored.

26.

1 These forms were prepared and have been approved by the Merchants' Association of New York and by a conference of other commercial organizations and banks.