Contract Dispute
The Data Processing Agreement was entered into between Big Bank and Systems, Inc. And the agreement involved Systems Inc. agreeing to render data processing services to Big Bank. In this dispute the services rendered are not under dispute but instead the time that it took for the data services to be in place and all data converted. The contract sets out that the date services would be rendered "within a reasonable time following execution" of the Agreement. Big Bank agreed within the framework of the contract to cooperate with Systems Inc. And to make provision of all information and assistance that Systems Inc. might require to conduct a successful conversion of Big Bank's information files to "a form compatible with System Inc.'s systems and equipment so that System Inc. could provide the Services. Specifically, Big Bank agreed to "deliver conversion input information, in its entirety, in a mutually acceptable medium, within one week of the request of the information."
I. Contingencies in the Contract
There are several contingencies included in this contract. The first contingency states that System's Inc. retains the right to make the determination according to System's Inc.'s own procedures when the successful conversion of Big Bank's information files has been accomplished in terms of them being operation and ready for use by Big Bank. In addition Big Bank is under a requirement according to the terms of the contract to provide the necessary information within one (1) week's time upon request by Systems, Inc. In addition, according to the terms of the contract, Big Bank has entered into an agreement in which System's Inc. has the right reserved to postpone conversion of the information files of Big Bank if Big...
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