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| Performance Contracts |
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Yes, TIBS enters into performance contracts with customers. In the
contract TIBS spells out the rights and responsibilities of both the
customer and TIBS. |
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A typical contract period is one year. We enter into yearly contracts with our customers. |
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At
the end of each year, subject to the contract getting extended into
another year, both the customer and TIBS shall have the right to
request a price revision. |
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At any point in time, the customer or TIBS can initiate contract termination by providing a month's notice for termination. |
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