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Q27. How can the proposed agreement with Quality Trade be terminated?

02 Nov 2021

The contract can only be terminated by QualityTrade if IAF Database LLC is in material breach of the contract. QualityTrade agrees to underwrite the cost of developing and maintaining IAF CertSearch for a period of five years. This will be vital during the first twelve months as the costs of hosting and maintenance exceed revenue. If IAF Database LLC terminates the agreement with due cause, QualityTrade would grant IAF Database LLC a licence in perpetuity to use the coding in IAF CertSearch and transfer it to another IT Service Provider.