1. A reference or description of the underlying relationship between the parties. 2. A statement on issues that are subject to a status quo between the parties. 3. The effective date of the status quo period, the length of that period and whether and how the period can be extended. 4. A statement on deeds (for example. B the introduction or follow-up of an action) that are prescribed during the status quo period and whether the corresponding statute of limitations are prescribed. 5. That one or more parties accept, given the status quo period, one of the ancillary limitations of their capabilities (for example. B, no operations outside of ordinary activity or governance changes). 6.
A statement on reciprocal obligations during the status quo, such .B the obligation of the parties to agree to negotiate or arbitrate the contentious issues. 7. The question of whether and to what extent relations between the parties should proceed normally and are not covered by the status quo agreement. 8. A declaration of corrective action in the event of a violation of the status quo agreement by a party. 9. Usual and customary provisions relating to the representation of the power to enter into the status quo agreement, the enforcement of the agreement electronically and/or in return, warning addresses, jurisdiction and jurisdiction in the event of a claim resulting from the breach of the status quo agreement, and whether or not legal fees may or may not be awarded to the party in power in the event of a breach of the status quo agreement. While we cannot support the ABA model of agreement as a „one document for all,” this can serve as a good starting point for a concrete intermediate basis for maintaining an existing business relationship. The different stories, facts and circumstances involved in any such relationship require the assistance of a business advisor who is sensitive to each client`s concerns, in order to prepare the form of an agreement that advances and does not prejudge the rights and remedies of his client.
Given the current economic uncertainties, companies or individuals in a business relationship can plan in advance for a temporary agreement on this relationship, while the economy stabilizes. Whether it is sellers, creditors, debtors, lenders, tenants or other things, an agreement to „stand still” for a certain period of time may be exactly what is necessary to preserve the relationship or, at the very least, set the ground rules for maintaining the relationship for a transitional period.