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Stefania Passera, MA Doctoral Defense, Aalto University School of Science, 18.08.201 7 Beyond the wall of contract text Visualizing contracts to foster understanding and collaboration within and across organizations

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Page 1: PhD defense public lecture

Stefania Passera, MADoctoral Defense, Aalto University School of Science, 18.08.2017

Beyond the wall of contract textVisualizing contracts to foster understandingand collaboration within and across organizations

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Contractvisualizationthe use of diagrams, images,and visually structured layoutsto make contracts more searchable,readable, and understandable.

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Business contracts

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JYSE 2009 SERVICES

were not known about when making the tender and that the service provider can demonstrate grounds for the price change. Accordingly the price of the service shall change from the date when the above-mentioned changes come into force. The serv-ice provider shall also have the above-mentioned right when the price is fixed.

10.7 If the price is not fixed, the service provider shall have the right during the contract period to adjust the price corresponding to the general cost trend of the service. The service provider must deliver a price adjustment notification in writing at least two (2) months before the price adjustment comes into force. The service provider must present to the customer an appropriate explanation of the cost trend and the reasons for the price adjustment. If no unanimity is reached on the price adjustment, the cus-tomer shall have the right to give notice of terminating the contract from the time that the price adjustment comes into force. The giving of notice must be made in writing before the new prices come into force. If the customer does not give notice of termi-nating the contract, the contract shall continue using the new prices notified by the service provider or other prices agreed together by the contracting partners in price adjustment negotiations.

10.8 If the price is not fixed, the customer shall have the right during the contract period to propose a price adjustment corresponding to the general cost trend of the supplies. If no unanimity is reached on the price adjustment and the customer considers that it cannot continue the contract under the prevailing prices, the customer shall have the right to terminate the contract with a notice period of two (2) months. Notice of termination must be made in writing. If the customer does not give notice of termi-nating the contract, the contract shall continue using the prices prevailing before the price adjustment proposal or using other prices agreed together by the contracting partners in price adjustment negotiations after the price adjustment proposal.

10.9 If not otherwise agreed, the contracting parties may propose price adjustments in the ways described in Paragraphs 10.7 and 10.8 at the earliest twelve (12) months after the contract came into force and at intervals of not less than twelve (12) months.

10.10 In the event of the customer giving notice of terminating the contract on the grounds presented in this section, the service provider shall be obliged if the customer so wishes to deliver the supplies at the prevailing prices, if the notice of termination has been made on the basis of Paragraph 10.8, or according to the prices notified by the service provider in the price adjustment notification, if the notice of termination has been made on the basis of Paragraph 10.7, until the time notified by the customer, however at most six (6) months from the ending of the contract.

11 Terms of payment

11.1 Payments shall be paid against an invoice. If not otherwise agreed, the invoice shall be due for payment twenty-one (21) days from the arrival of an acceptable invoice.

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JYSE 2009 SERVICES

were not known about when making the tender and that the service provider can demonstrate grounds for the price change. Accordingly the price of the service shall change from the date when the above-mentioned changes come into force. The serv-ice provider shall also have the above-mentioned right when the price is fixed.

10.7 If the price is not fixed, the service provider shall have the right during the contract period to adjust the price corresponding to the general cost trend of the service. The service provider must deliver a price adjustment notification in writing at least two (2) months before the price adjustment comes into force. The service provider must present to the customer an appropriate explanation of the cost trend and the reasons for the price adjustment. If no unanimity is reached on the price adjustment, the cus-tomer shall have the right to give notice of terminating the contract from the time that the price adjustment comes into force. The giving of notice must be made in writing before the new prices come into force. If the customer does not give notice of termi-nating the contract, the contract shall continue using the new prices notified by the service provider or other prices agreed together by the contracting partners in price adjustment negotiations.

10.8 If the price is not fixed, the customer shall have the right during the contract period to propose a price adjustment corresponding to the general cost trend of the supplies. If no unanimity is reached on the price adjustment and the customer considers that it cannot continue the contract under the prevailing prices, the customer shall have the right to terminate the contract with a notice period of two (2) months. Notice of termination must be made in writing. If the customer does not give notice of termi-nating the contract, the contract shall continue using the prices prevailing before the price adjustment proposal or using other prices agreed together by the contracting partners in price adjustment negotiations after the price adjustment proposal.

10.9 If not otherwise agreed, the contracting parties may propose price adjustments in the ways described in Paragraphs 10.7 and 10.8 at the earliest twelve (12) months after the contract came into force and at intervals of not less than twelve (12) months.

10.10 In the event of the customer giving notice of terminating the contract on the grounds presented in this section, the service provider shall be obliged if the customer so wishes to deliver the supplies at the prevailing prices, if the notice of termination has been made on the basis of Paragraph 10.8, or according to the prices notified by the service provider in the price adjustment notification, if the notice of termination has been made on the basis of Paragraph 10.7, until the time notified by the customer, however at most six (6) months from the ending of the contract.

11 Terms of payment

11.1 Payments shall be paid against an invoice. If not otherwise agreed, the invoice shall be due for payment twenty-one (21) days from the arrival of an acceptable invoice.

GENERAL TERMS OF THE TENANCY AGREEMENT 01.01.2014

Helsingin seudun opiskelija-asuntosäätiö, kotipaikka Helsinki ja Y-tunnus 0116514-9 Helsingin yliopisto Vuolukiventie, kotipaikka Helsinki, Y-tunnus 0246242-8 Helsingin yliopiston ylioppilaskunta, kotipaikka Helsinki, Y-tunnus 0199976-8 Kt Oy Juus-Fastighets Ab, kotipaikka Kauniainen, Y-tunnus 0823393-3

1. Premise The Foundation’s student apartments are meant for full-time students during the period in which they are studying in institutions of higher learning in the Helsinki, Vantaa, Espoo and Kauniainen regions. HYY-Student-Housing is meant for full-time students who are members of the HYY (i.e. the Students’ Union of the Helsinki University). These agreement terms also concern the real estate companies owned together by the foundation and the municipality, and apartments whose Lessor is the Helsinki University. In addition to the terms of this agreement, tenants are subject to the law concerning rental apartments (AHVL 481/95), the rules and regulations of the housing company, the instructions and regulations given in resident notifications, the residence Guide, Tenant Charge Sheet, the Tenant Responsibility Chart, and other instructions and regulations that are currently in effect and available on the HOAS website, as well as the law (1190/93) concerning the use, relinquishing and buying of State subsidised low-income rental apartments and housing projects. 2. Tenancy period The tenancy agreement is for a fixed period or subject to notification. Only full-time students are allowed to sign tenancy agreements that are subject to notification or, in cases where the co-operation company is concerned, the Tenant of the housing department of the municipality according to the principles decided upon by the Board of Directors of the company. A fixed period tenancy agreement ends when the period is completed, unless there is an occurrence contingent on points 16 or 17 below. An agreement made for less than 6 months or a fixed-term-agreement in international exchange student housing quota cannot be terminated by giving notice. Agreements that are subject to notification end upon giving notice, upon cancellation or termination, or by mutual agreement. The Tenant is committed to handing over the apartment to the Lessor for the duration of summer months 1.6.-31.8. to be used as a summer hostel or other such activity. 3. Deposit When leasing an apartment the Tenant will pay a deposit to the Lessor. The deposit will be returned to the payer of the deposit within one month after the termination of the tenancy only if the Tenant has returned the keys to the apartment, the apartment is in a clean and normal condition and there are no outstanding payments nor any other outstanding obligations. The Lessor may use the deposit for settlement of any outstanding payments mentioned above without consulting the Tenant. Returned deposit does not absolve the tenant from the general terms of the tenancy agreement. During the tenancy period the Tenant does not have the right to request that the deposit be used to cover the cost of rent. The Tenant will not receive interest on the deposit. 4. Move-in day The Tenant is entitled to take possession of the apartment at the beginning of the tenancy period. However, if the tenancy period starts on a weekend or on a national holiday, the possession right begins the next weekday. The Tenant’s liability to pay rent comes into effect the day the tenancy period starts as stated in the tenancy agreement. At the termination of the tenancy, the apartment must be vacated by the last day of the tenancy agreement. 5. Keys The Tenant gets the keys at the beginning of the tenancy period. The keys are for the use of the tenant only, and they are to be handled with care and responsibility.Tenant must notify the Lessor immediately, if a key is lost or damaged. If a key is lost, the Tenant will be responsible for the costs (inc.rekeying costs). Making copies of the keys is prohibited. The Tenant is responsible for collecting and returning the keys to the Lessor in a manner stated by the Lessor. Any neglect concerning the keys will be charged from the tenant according to the valid resident price sheet. A security lock may only be installed with the Lessor’s permission, at the Tenant’s own expense. The Tenant commits to providing the Lessor with a key to the security lock. When moving out, the said lock must be left as installed and all keys handed over to the Lessor without charges. 6. Handing over the apartment to another person The Tenant living in student housing may not, without the permission of the Lessor, hand over the apartment or part of it, or have persons living there who are not covered by the tenancy agreement, or transfer the tenancy agreement. The Lessor requires that the apartment be used for student housing (AHVL 17, 18, 44 and 45§). 7. The Tenant’s responsibilities during occupancy The Tenant is responsible for giving written notification to the Lessor concerning details of moving in or out or when vacating the apartment for a longer period of time, for more than one month. The Tenant is also responsible for notifying the Lessor of any changes concerning the identity or number of people living in the apartment during occupancy. The Tenant is responsible for cleaning, taking care of and carefully maintaining the apartment and equipment therein, the courtyard or terrace area immediately attached to it and to follow the instructions given by the Lessor. The Tenant is responsible for buying, installing, and maintaining a fire alarm. The Tenant is not responsible for the normal wear and tear of the apartment, but the Tenant is required to compensate for any damage caused by him/herself. The Tenant is adviced to take a comprehensive home insurance. In the beginning of tenancy any complaints concerning the condition of the apartment must be made directly to the Lessor, in the way the Lessor has specified, within two weeks of receiving the keys. You must notify the Lessor directly immediately after moving in if there are any complaints concerning the way the apartment was cleaned. The Tenant must notify the Lessor or a representative of the Lessor of any defects in the condition of the apartment within two weeks of moving in, and defects in the final cleaning immediately when moving in. During the period of occupancy the Tenant is also required to immediately inform the Lessor of any damage or defects occurring in the apartment.The Tenant must notify the Lessor of any damage or defects that the Lessor is responsible for repairing. The notification must be done immediately when the damage/defect is running the risk of getting worse if not fixed right away. A Tenant who does not notify the Lessor, will be held responsible for the resulting damage. The tenant is required to inform the Lessor immediately if he/she finds bugs, pests etc. so that the Lessor can take action and start the prevention. The Lessor reserves a right to carry out prevention acts without a separate advance notification if necessary. A room in a shared apartment is meant for one person (the Tenant). It is forbidden to house any person not included in the tenancy agreement. Smoking is forbidden in shared apartments and in all apartments with tenancy agreements commencing after May 31st 2010, as well as in hallways, staircases and other common areas. If the tenant smokes regardless of the rules, any costs resulting from the cleaning, ozonization, painting etc. of the apartment will be charged to the tenant.No pets are allowed in shared apartments and HYY-apartments. The Tenant is responsible for cleaning the apartment during tenancy, and for the final cleaning of the apartment at the termination of tenancy. When tenant changes the apartment is checked, which may cause charges if the responsibilities/cleaning request have not been carried out. The lessor has the right to have the apartment cleaned or repaired at the Tenants expense if necessary. All tenants are jointly responsible for the condition of the common areas of shared apartments. The amount of compensation that the tenant has to pay for damage is determined by the Tenant Charge Sheet and the Tenant Responsibility Chart that are in effect at the time. These documents are available on the Hoas website. However, the tenant is always responsible for the full cost of repairing the damage, even where it exceeds the charges in the aforementioned documents, or in the case that the particular cost/damage is not listed in the documents.

8. Common areas of the apartment All the Tenants in the apartment are jointly responsible and liable for the condition and upkeep of the common areas, and of the furniture and equipment in them. The Tenant is responsible for informing the Lessor or representative of the Lessor of any changes in the condition of these areas and the equipment. 9. HOASnet If the apartment is connected to HOASnet, the Tenant, by signing the tenancy agreement, acknowledges and agrees to the terms of delivery. Hoas is not responsible for the possible short disconnections in the Internet service. Berliininkatu 5, Brysselinkatu 3, Rörstrandinkatu 3 have been connected to Arabianranta local network, the Tenant acknowledges and agrees to the terms of delivery. The same principles are in effect also in the Trinet network of Otaverkko Oy. Using the previously mentioned services is voluntary, but not using them does not entitle to reconsideration of the rent. 10. Compensation For such time as the apartment cannot be occupied, or is not in the required or agreed upon condition, and the Tenant has fullfilled his responsibility to notify the Lessor as stated on point 7, the Tenant has the right to apply for compensation. A written notification of the matter must be made immediately, after which compensation can be agreed upon. The Tenant may apply for compensation for the amount of rent or immediate expenses that is equivalent to the time period and amount of the inconvenience caused by the defect (AHVL 23 § 2 mom.). Compensation is paid under the condition that the damage or defect can be determined to be the fault of the Lessor through neglect or other carelessness (AHVL 23 § 3 mom.). Any outstanding payments to the Lessor may be subtracted from the compensation to the Tenant. The Lessor and the property owners have the right to carry out general repairs in the building and in the tenant’s apartment during the tenancy, without the tenant being compensated for the time of repairs. The companies that supply heat, water, electricity, telecommunication and Internet services are solely responsible for the operation of these services in accordance with their general delivery terms, regardless of whether the costs of these services are included in the rent or paid for separately. HOAS is liable only for damages caused by its own negligence. 11. The Lessor’s right to enter the apartment To lease and supervise the condition and upkeep of the apartment the Tenant must allow a representative of the Lessor to enter the apartment without delay as soon as convenient. Should need be or in cases that need immediate acts, a representative of the Lessor has the right to inspect an apartment without the Tenant’s consent. Hoas inspects all apartments at the termination of the tenancy. An apartment inspection may include two inspection visits, the first of which is a preliminary check that is carried out while the current tenant is still living in the apartment. There may be a second check after the tenant has moved out and the new tenant has just signed a tenancy agreement. The tenant will not be notified of either inspection and they will be carried out by using a master key. Repair work may be carried out during the inspections, or a cleaning may be scheduled as a result of the second inspection. 12. Transferring the tenancy agreement On grounds of expediency, the Lessor may, in accordance with the terms of notice, transfer the tenancy to an equivalent apartment or an equivalent part of an apartment that is under the Lessor’s authority. 13. Rent and other charges Rent is determined according to the amount that is needed, in conjunction with other earnings, to cover expenses and financing the upkeep of the apartment and related areas in accordance with good property maintenance. Rent will be adjusted in accordance with changes in the amounts listed above. The rent in different buildings and apartments may be averaged. Rent is set at monthly rates, of which the average rent per square metre for each estate is calculated. Rent will be checked annually or when necessary according to these principles even if the restrictions on State subsidised low-income rentals have ended. In addition to the rent the Tenant agrees to pay the current utility charges, for example, the charges for electricity, sauna and parking, and fees according to the Resident charge sheet. Spouses, and other parties of a joint agreement are jointly responsible for the rent and utility charges during the entire period of the tenancy agreement. 14. Notification of changes in rent and charges The Lessor will inform the Tenant of changes in rent and charges in writing before they come into effect. 15. Payment/collection Rent and other charges will be paid monthly in advance to the Lessor’s bank account, at latest the sixth day of each month. A penalty interest rate and collection fee will be added to overdue charges in accordance with the law. Tenant’s account will be referred to a collection agency at the latest when outstanding payments equal two month’s rent. 16. Termination and dissolving of the tenancy agreement When either party gives notice, the agreement will dissolve after the term of notice is over. The Tenant’s term of notice is one (1) month, which is calculated from the last day of the month in which notice is given. Cancellation of termination of tenancy agreement will be charged according to the resident price sheet in force at the time of cancellation. When the Lessor gives notice of the tenancy agreement, the term of notice is three (3) months. If the tenancy has, prior to the giving of notice, continued uninterruptedly for at least one year, the term of notice for the Lessor is six (6) months. A fixed period agreement will end without a separate notice, unless after having made an agreement such matters come to light that make the validity of the agreement unreasonable to either party. The notice of termination shall always be made with the form for notice of termination. The notice of termination for a family agreement and other joint agreements must be done by all tenancy agreement signatories. The Lessor has a right to terminate the tenancy agreement due to renovations that are scheduled for the property but primarily the Lessor tries to arrange a temporary accommodation from Hoas for the period of the renovation. The tenancy agreement can also be terminated because of, for example, unpaid rent or causing disturbance. If such is the case, the agreement may be terminated either immediately upon notice or at a later date, as stated by the person terminating the agreement. 17. Verifying the right of occupancy It is the responsibility of the Tenant to inform the Lessor of changes in the circumstances which were reported at the start of the tenancy agreement relating to the Tenant’s studies, such as the discontinuation of studies, graduating or other pertinent information. Furthermore, the Tenant is bound to supply the information about his/her right of occupancy as requested and to allow the Lessor to obtain from the educational institution information about his/her studies. Full-time studying and credit units are verified according to the valid credit unit limit in conjunction with the right of occupancy, the regulations on which are confirmed by the Board of Directors or a body authorised by it. Concerning university, art and polytechnic students the credit unit limit is specified to be 30 credits/calendar year or 60 credits/two calendar years. Giving false information or refusing to supply information can lead to the Lessor giving notice or cancelling the tenancy agreement.

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were not known about when making the tender and that the service provider can demonstrate grounds for the price change. Accordingly the price of the service shall change from the date when the above-mentioned changes come into force. The serv-ice provider shall also have the above-mentioned right when the price is fixed.

10.7 If the price is not fixed, the service provider shall have the right during the contract period to adjust the price corresponding to the general cost trend of the service. The service provider must deliver a price adjustment notification in writing at least two (2) months before the price adjustment comes into force. The service provider must present to the customer an appropriate explanation of the cost trend and the reasons for the price adjustment. If no unanimity is reached on the price adjustment, the cus-tomer shall have the right to give notice of terminating the contract from the time that the price adjustment comes into force. The giving of notice must be made in writing before the new prices come into force. If the customer does not give notice of termi-nating the contract, the contract shall continue using the new prices notified by the service provider or other prices agreed together by the contracting partners in price adjustment negotiations.

10.8 If the price is not fixed, the customer shall have the right during the contract period to propose a price adjustment corresponding to the general cost trend of the supplies. If no unanimity is reached on the price adjustment and the customer considers that it cannot continue the contract under the prevailing prices, the customer shall have the right to terminate the contract with a notice period of two (2) months. Notice of termination must be made in writing. If the customer does not give notice of termi-nating the contract, the contract shall continue using the prices prevailing before the price adjustment proposal or using other prices agreed together by the contracting partners in price adjustment negotiations after the price adjustment proposal.

10.9 If not otherwise agreed, the contracting parties may propose price adjustments in the ways described in Paragraphs 10.7 and 10.8 at the earliest twelve (12) months after the contract came into force and at intervals of not less than twelve (12) months.

10.10 In the event of the customer giving notice of terminating the contract on the grounds presented in this section, the service provider shall be obliged if the customer so wishes to deliver the supplies at the prevailing prices, if the notice of termination has been made on the basis of Paragraph 10.8, or according to the prices notified by the service provider in the price adjustment notification, if the notice of termination has been made on the basis of Paragraph 10.7, until the time notified by the customer, however at most six (6) months from the ending of the contract.

11 Terms of payment

11.1 Payments shall be paid against an invoice. If not otherwise agreed, the invoice shall be due for payment twenty-one (21) days from the arrival of an acceptable invoice.

GENERAL TERMS OF THE TENANCY AGREEMENT 01.01.2014

Helsingin seudun opiskelija-asuntosäätiö, kotipaikka Helsinki ja Y-tunnus 0116514-9 Helsingin yliopisto Vuolukiventie, kotipaikka Helsinki, Y-tunnus 0246242-8 Helsingin yliopiston ylioppilaskunta, kotipaikka Helsinki, Y-tunnus 0199976-8 Kt Oy Juus-Fastighets Ab, kotipaikka Kauniainen, Y-tunnus 0823393-3

1. Premise The Foundation’s student apartments are meant for full-time students during the period in which they are studying in institutions of higher learning in the Helsinki, Vantaa, Espoo and Kauniainen regions. HYY-Student-Housing is meant for full-time students who are members of the HYY (i.e. the Students’ Union of the Helsinki University). These agreement terms also concern the real estate companies owned together by the foundation and the municipality, and apartments whose Lessor is the Helsinki University. In addition to the terms of this agreement, tenants are subject to the law concerning rental apartments (AHVL 481/95), the rules and regulations of the housing company, the instructions and regulations given in resident notifications, the residence Guide, Tenant Charge Sheet, the Tenant Responsibility Chart, and other instructions and regulations that are currently in effect and available on the HOAS website, as well as the law (1190/93) concerning the use, relinquishing and buying of State subsidised low-income rental apartments and housing projects. 2. Tenancy period The tenancy agreement is for a fixed period or subject to notification. Only full-time students are allowed to sign tenancy agreements that are subject to notification or, in cases where the co-operation company is concerned, the Tenant of the housing department of the municipality according to the principles decided upon by the Board of Directors of the company. A fixed period tenancy agreement ends when the period is completed, unless there is an occurrence contingent on points 16 or 17 below. An agreement made for less than 6 months or a fixed-term-agreement in international exchange student housing quota cannot be terminated by giving notice. Agreements that are subject to notification end upon giving notice, upon cancellation or termination, or by mutual agreement. The Tenant is committed to handing over the apartment to the Lessor for the duration of summer months 1.6.-31.8. to be used as a summer hostel or other such activity. 3. Deposit When leasing an apartment the Tenant will pay a deposit to the Lessor. The deposit will be returned to the payer of the deposit within one month after the termination of the tenancy only if the Tenant has returned the keys to the apartment, the apartment is in a clean and normal condition and there are no outstanding payments nor any other outstanding obligations. The Lessor may use the deposit for settlement of any outstanding payments mentioned above without consulting the Tenant. Returned deposit does not absolve the tenant from the general terms of the tenancy agreement. During the tenancy period the Tenant does not have the right to request that the deposit be used to cover the cost of rent. The Tenant will not receive interest on the deposit. 4. Move-in day The Tenant is entitled to take possession of the apartment at the beginning of the tenancy period. However, if the tenancy period starts on a weekend or on a national holiday, the possession right begins the next weekday. The Tenant’s liability to pay rent comes into effect the day the tenancy period starts as stated in the tenancy agreement. At the termination of the tenancy, the apartment must be vacated by the last day of the tenancy agreement. 5. Keys The Tenant gets the keys at the beginning of the tenancy period. The keys are for the use of the tenant only, and they are to be handled with care and responsibility.Tenant must notify the Lessor immediately, if a key is lost or damaged. If a key is lost, the Tenant will be responsible for the costs (inc.rekeying costs). Making copies of the keys is prohibited. The Tenant is responsible for collecting and returning the keys to the Lessor in a manner stated by the Lessor. Any neglect concerning the keys will be charged from the tenant according to the valid resident price sheet. A security lock may only be installed with the Lessor’s permission, at the Tenant’s own expense. The Tenant commits to providing the Lessor with a key to the security lock. When moving out, the said lock must be left as installed and all keys handed over to the Lessor without charges. 6. Handing over the apartment to another person The Tenant living in student housing may not, without the permission of the Lessor, hand over the apartment or part of it, or have persons living there who are not covered by the tenancy agreement, or transfer the tenancy agreement. The Lessor requires that the apartment be used for student housing (AHVL 17, 18, 44 and 45§). 7. The Tenant’s responsibilities during occupancy The Tenant is responsible for giving written notification to the Lessor concerning details of moving in or out or when vacating the apartment for a longer period of time, for more than one month. The Tenant is also responsible for notifying the Lessor of any changes concerning the identity or number of people living in the apartment during occupancy. The Tenant is responsible for cleaning, taking care of and carefully maintaining the apartment and equipment therein, the courtyard or terrace area immediately attached to it and to follow the instructions given by the Lessor. The Tenant is responsible for buying, installing, and maintaining a fire alarm. The Tenant is not responsible for the normal wear and tear of the apartment, but the Tenant is required to compensate for any damage caused by him/herself. The Tenant is adviced to take a comprehensive home insurance. In the beginning of tenancy any complaints concerning the condition of the apartment must be made directly to the Lessor, in the way the Lessor has specified, within two weeks of receiving the keys. You must notify the Lessor directly immediately after moving in if there are any complaints concerning the way the apartment was cleaned. The Tenant must notify the Lessor or a representative of the Lessor of any defects in the condition of the apartment within two weeks of moving in, and defects in the final cleaning immediately when moving in. During the period of occupancy the Tenant is also required to immediately inform the Lessor of any damage or defects occurring in the apartment.The Tenant must notify the Lessor of any damage or defects that the Lessor is responsible for repairing. The notification must be done immediately when the damage/defect is running the risk of getting worse if not fixed right away. A Tenant who does not notify the Lessor, will be held responsible for the resulting damage. The tenant is required to inform the Lessor immediately if he/she finds bugs, pests etc. so that the Lessor can take action and start the prevention. The Lessor reserves a right to carry out prevention acts without a separate advance notification if necessary. A room in a shared apartment is meant for one person (the Tenant). It is forbidden to house any person not included in the tenancy agreement. Smoking is forbidden in shared apartments and in all apartments with tenancy agreements commencing after May 31st 2010, as well as in hallways, staircases and other common areas. If the tenant smokes regardless of the rules, any costs resulting from the cleaning, ozonization, painting etc. of the apartment will be charged to the tenant.No pets are allowed in shared apartments and HYY-apartments. The Tenant is responsible for cleaning the apartment during tenancy, and for the final cleaning of the apartment at the termination of tenancy. When tenant changes the apartment is checked, which may cause charges if the responsibilities/cleaning request have not been carried out. The lessor has the right to have the apartment cleaned or repaired at the Tenants expense if necessary. All tenants are jointly responsible for the condition of the common areas of shared apartments. The amount of compensation that the tenant has to pay for damage is determined by the Tenant Charge Sheet and the Tenant Responsibility Chart that are in effect at the time. These documents are available on the Hoas website. However, the tenant is always responsible for the full cost of repairing the damage, even where it exceeds the charges in the aforementioned documents, or in the case that the particular cost/damage is not listed in the documents.

8. Common areas of the apartment All the Tenants in the apartment are jointly responsible and liable for the condition and upkeep of the common areas, and of the furniture and equipment in them. The Tenant is responsible for informing the Lessor or representative of the Lessor of any changes in the condition of these areas and the equipment. 9. HOASnet If the apartment is connected to HOASnet, the Tenant, by signing the tenancy agreement, acknowledges and agrees to the terms of delivery. Hoas is not responsible for the possible short disconnections in the Internet service. Berliininkatu 5, Brysselinkatu 3, Rörstrandinkatu 3 have been connected to Arabianranta local network, the Tenant acknowledges and agrees to the terms of delivery. The same principles are in effect also in the Trinet network of Otaverkko Oy. Using the previously mentioned services is voluntary, but not using them does not entitle to reconsideration of the rent. 10. Compensation For such time as the apartment cannot be occupied, or is not in the required or agreed upon condition, and the Tenant has fullfilled his responsibility to notify the Lessor as stated on point 7, the Tenant has the right to apply for compensation. A written notification of the matter must be made immediately, after which compensation can be agreed upon. The Tenant may apply for compensation for the amount of rent or immediate expenses that is equivalent to the time period and amount of the inconvenience caused by the defect (AHVL 23 § 2 mom.). Compensation is paid under the condition that the damage or defect can be determined to be the fault of the Lessor through neglect or other carelessness (AHVL 23 § 3 mom.). Any outstanding payments to the Lessor may be subtracted from the compensation to the Tenant. The Lessor and the property owners have the right to carry out general repairs in the building and in the tenant’s apartment during the tenancy, without the tenant being compensated for the time of repairs. The companies that supply heat, water, electricity, telecommunication and Internet services are solely responsible for the operation of these services in accordance with their general delivery terms, regardless of whether the costs of these services are included in the rent or paid for separately. HOAS is liable only for damages caused by its own negligence. 11. The Lessor’s right to enter the apartment To lease and supervise the condition and upkeep of the apartment the Tenant must allow a representative of the Lessor to enter the apartment without delay as soon as convenient. Should need be or in cases that need immediate acts, a representative of the Lessor has the right to inspect an apartment without the Tenant’s consent. Hoas inspects all apartments at the termination of the tenancy. An apartment inspection may include two inspection visits, the first of which is a preliminary check that is carried out while the current tenant is still living in the apartment. There may be a second check after the tenant has moved out and the new tenant has just signed a tenancy agreement. The tenant will not be notified of either inspection and they will be carried out by using a master key. Repair work may be carried out during the inspections, or a cleaning may be scheduled as a result of the second inspection. 12. Transferring the tenancy agreement On grounds of expediency, the Lessor may, in accordance with the terms of notice, transfer the tenancy to an equivalent apartment or an equivalent part of an apartment that is under the Lessor’s authority. 13. Rent and other charges Rent is determined according to the amount that is needed, in conjunction with other earnings, to cover expenses and financing the upkeep of the apartment and related areas in accordance with good property maintenance. Rent will be adjusted in accordance with changes in the amounts listed above. The rent in different buildings and apartments may be averaged. Rent is set at monthly rates, of which the average rent per square metre for each estate is calculated. Rent will be checked annually or when necessary according to these principles even if the restrictions on State subsidised low-income rentals have ended. In addition to the rent the Tenant agrees to pay the current utility charges, for example, the charges for electricity, sauna and parking, and fees according to the Resident charge sheet. Spouses, and other parties of a joint agreement are jointly responsible for the rent and utility charges during the entire period of the tenancy agreement. 14. Notification of changes in rent and charges The Lessor will inform the Tenant of changes in rent and charges in writing before they come into effect. 15. Payment/collection Rent and other charges will be paid monthly in advance to the Lessor’s bank account, at latest the sixth day of each month. A penalty interest rate and collection fee will be added to overdue charges in accordance with the law. Tenant’s account will be referred to a collection agency at the latest when outstanding payments equal two month’s rent. 16. Termination and dissolving of the tenancy agreement When either party gives notice, the agreement will dissolve after the term of notice is over. The Tenant’s term of notice is one (1) month, which is calculated from the last day of the month in which notice is given. Cancellation of termination of tenancy agreement will be charged according to the resident price sheet in force at the time of cancellation. When the Lessor gives notice of the tenancy agreement, the term of notice is three (3) months. If the tenancy has, prior to the giving of notice, continued uninterruptedly for at least one year, the term of notice for the Lessor is six (6) months. A fixed period agreement will end without a separate notice, unless after having made an agreement such matters come to light that make the validity of the agreement unreasonable to either party. The notice of termination shall always be made with the form for notice of termination. The notice of termination for a family agreement and other joint agreements must be done by all tenancy agreement signatories. The Lessor has a right to terminate the tenancy agreement due to renovations that are scheduled for the property but primarily the Lessor tries to arrange a temporary accommodation from Hoas for the period of the renovation. The tenancy agreement can also be terminated because of, for example, unpaid rent or causing disturbance. If such is the case, the agreement may be terminated either immediately upon notice or at a later date, as stated by the person terminating the agreement. 17. Verifying the right of occupancy It is the responsibility of the Tenant to inform the Lessor of changes in the circumstances which were reported at the start of the tenancy agreement relating to the Tenant’s studies, such as the discontinuation of studies, graduating or other pertinent information. Furthermore, the Tenant is bound to supply the information about his/her right of occupancy as requested and to allow the Lessor to obtain from the educational institution information about his/her studies. Full-time studying and credit units are verified according to the valid credit unit limit in conjunction with the right of occupancy, the regulations on which are confirmed by the Board of Directors or a body authorised by it. Concerning university, art and polytechnic students the credit unit limit is specified to be 30 credits/calendar year or 60 credits/two calendar years. Giving false information or refusing to supply information can lead to the Lessor giving notice or cancelling the tenancy agreement.

CONFIDENTIAL 4(18)

2.4. Based on these aforementioned documents the Purchaser shall have the final foundation draw-ings (hereinafter “Final Foundation Drawings”) done. These Final Foundation Drawings shall be approved by the Supplier before the execution of the foundation shall begin.

2.5. The Supplier shall deliver to the Purchaser drawings of the design of the Equipment, and

shall not be entitled to deliver the Equipment to the Purchaser prior to Purchaser’s approv-al of the design.

2.6. The delivery of the Equipment shall include all necessary technical and other documentation

relating to the Equipment. Any technical documentation shall be delivered to the Purchaser without any additional costs to the Purchaser. The language of the documentation shall be the language of the Agreement or English.

2.7. For maintenance purposes, the Supplier shall submit to the Purchaser sufficient manufac-

turing drawings, including material and part lists, of all parts which wear down during oper-ation and which must be replaced or reconditioned regularly during the estimated lifetime of the Equipment.

2.8. Documents shall be delivered in accordance with Appendix 3, which specifies the agreed

delivery times for the documentation. If any of the documents have not been delivered in agreed times, clause 18 “Delay in delivery” shall apply.

3. REQUIREMENTS 3.1. Details on the requirements regarding quality, safety and CE markings of the Equipment

are provided in Appendix 13.

Price and Payment

4. PURCHASE PRICE 4.1. For the fulfilment of all obligations and undertakings under the terms and conditions of

this Agreement, the Purchaser shall pay to the Supplier a purchase price equal to five hundred thousand (500 000) euro (hereinafter the “Purchase Price”).

4.2. Prices and/or pricing principles may be specified in the price specifications (Appendix 4).

All prices shall be fixed prices for the term of the Agreement, and shall include all taxes (exclusive of value added tax (VAT)), duties, levies and charges imposed under the ap-plicable legislation. In addition to the agreed prices, the Purchaser shall be liable to pay the Supplier only the VAT, if applicable. All prices are quoted and payments shall be made in euros.

4.3. Additional work and changes, and compensation thereof, shall be agreed between the

Parties as specified in clause 16 “Additional work and Changes”. The prices specified herein and in Appendix 4 are fixed and valid until the Final Acceptance of the Equipment. The compensation for approved additional work and changes together with the Pur-chase Price shall form the final total compensation for the Equipment (hereinafter the “Total Purchase Price”).

5. PAYMENT TERMS 5.1. The Purchaser shall pay the Purchase Price specified above in accordance with the fol-

lowing payment schedule (hereinafter “Payment Schedule”) and against the Supplier’s in-voice. The right to invoice arises on the fulfilment of the terms of payment stated below:

Page 7: PhD defense public lecture

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JYSE 2009 SERVICES

were not known about when making the tender and that the service provider can demonstrate grounds for the price change. Accordingly the price of the service shall change from the date when the above-mentioned changes come into force. The serv-ice provider shall also have the above-mentioned right when the price is fixed.

10.7 If the price is not fixed, the service provider shall have the right during the contract period to adjust the price corresponding to the general cost trend of the service. The service provider must deliver a price adjustment notification in writing at least two (2) months before the price adjustment comes into force. The service provider must present to the customer an appropriate explanation of the cost trend and the reasons for the price adjustment. If no unanimity is reached on the price adjustment, the cus-tomer shall have the right to give notice of terminating the contract from the time that the price adjustment comes into force. The giving of notice must be made in writing before the new prices come into force. If the customer does not give notice of termi-nating the contract, the contract shall continue using the new prices notified by the service provider or other prices agreed together by the contracting partners in price adjustment negotiations.

10.8 If the price is not fixed, the customer shall have the right during the contract period to propose a price adjustment corresponding to the general cost trend of the supplies. If no unanimity is reached on the price adjustment and the customer considers that it cannot continue the contract under the prevailing prices, the customer shall have the right to terminate the contract with a notice period of two (2) months. Notice of termination must be made in writing. If the customer does not give notice of termi-nating the contract, the contract shall continue using the prices prevailing before the price adjustment proposal or using other prices agreed together by the contracting partners in price adjustment negotiations after the price adjustment proposal.

10.9 If not otherwise agreed, the contracting parties may propose price adjustments in the ways described in Paragraphs 10.7 and 10.8 at the earliest twelve (12) months after the contract came into force and at intervals of not less than twelve (12) months.

10.10 In the event of the customer giving notice of terminating the contract on the grounds presented in this section, the service provider shall be obliged if the customer so wishes to deliver the supplies at the prevailing prices, if the notice of termination has been made on the basis of Paragraph 10.8, or according to the prices notified by the service provider in the price adjustment notification, if the notice of termination has been made on the basis of Paragraph 10.7, until the time notified by the customer, however at most six (6) months from the ending of the contract.

11 Terms of payment

11.1 Payments shall be paid against an invoice. If not otherwise agreed, the invoice shall be due for payment twenty-one (21) days from the arrival of an acceptable invoice.

GENERAL TERMS OF THE TENANCY AGREEMENT 01.01.2014

Helsingin seudun opiskelija-asuntosäätiö, kotipaikka Helsinki ja Y-tunnus 0116514-9 Helsingin yliopisto Vuolukiventie, kotipaikka Helsinki, Y-tunnus 0246242-8Helsingin yliopiston ylioppilaskunta, kotipaikka Helsinki, Y-tunnus 0199976-8 Kt Oy Juus-Fastighets Ab, kotipaikka Kauniainen, Y-tunnus 0823393-3

1. PremiseThe Foundation’s student apartments are meant for full-time students during the period in whichthey are studying in institutions of higher learning in the Helsinki, Vantaa, Espoo and Kauniainenregions. HYY-Student-Housing is meant for full-time students who are members of the HYY (i.e. theStudents’ Union of the Helsinki University). These agreement terms also concern the real estatecompanies owned together by the foundation and the municipality, and apartments whose Lessor isthe Helsinki University. In addition to the terms of this agreement, tenants are subject to the lawconcerning rental apartments (AHVL 481/95), the rules and regulations of the housing company, theinstructions and regulations given in resident notifications, the residence Guide, Tenant Charge Sheet, the Tenant Responsibility Chart, and other instructions and regulations that are currently in effect and available on the HOAS website, as well as the law (1190/93) concerning the use, relinquishing and buying of State subsidised low-income rental apartments and housing projects. 2. Tenancy period The tenancy agreement is for a fixed period or subject to notification. Only full-time students are allowed to sign tenancy agreements that are subject to notification or, in cases where the co-operation company is concerned, the Tenant of the housing department of the municipality according to the principles decided upon by the Board of Directors of the company. A fixed period tenancy agreement ends when the period is completed, unless there is an occurrence contingent on points 16 or 17 below. An agreement made for less than 6 months or a fixed-term-agreement in international exchange student housing quota cannot be terminated by giving notice. Agreements that are subject to notification end upon giving notice, upon cancellation or termination, or by mutualagreement. The Tenant is committed to handing over the apartment to the Lessor for the duration of summer months 1.6.-31.8. to be used as a summer hostel or other such activity. 3. Deposit When leasing an apartment the Tenant will pay a deposit to the Lessor. The deposit will be returned to the payer of the deposit within one month after the termination of the tenancy only if the Tenant has returned the keys to the apartment, the apartment is in a clean and normal condition and there are no outstanding payments nor any other outstanding obligations. The Lessor may use the deposit for settlement of any outstanding payments mentioned above without consulting the Tenant. Returned deposit does not absolve the tenant from the general terms of the tenancy agreement. During the tenancy period the Tenant does not have the right to request that the deposit be used to cover the cost of rent. The Tenant will not receive interest on the deposit. 4. Move-in day The Tenant is entitled to take possession of the apartment at the beginning of the tenancy period. However, if the tenancy period starts on a weekend or on a national holiday, the possession right begins the next weekday. The Tenant’s liability to pay rent comes into effect the day the tenancy period starts as stated in the tenancy agreement. At the termination of the tenancy, the apartment must be vacated by the last day of the tenancy agreement. 5. Keys The Tenant gets the keys at the beginning of the tenancy period. The keys are for the use of the tenant only, and they are to be handled with care and responsibility.Tenant must notify the Lessor immediately, if a key is lost or damaged. If a key is lost, the Tenant will be responsible for the costs (inc.rekeying costs). Making copies of the keys is prohibited. The Tenant is responsible for collecting and returning the keys to the Lessor in a manner stated by the Lessor. Any neglect concerning the keys will be charged from the tenant according to the valid resident price sheet. A security lock may only be installed with the Lessor’s permission, at the Tenant’s own expense. The Tenant commits to providing the Lessor with a key to the security lock. When moving out, the said lock must be left as installed and all keys handed over to the Lessor without charges. 6. Handing over the apartment to another person The Tenant living in student housing may not, without the permission of the Lessor, hand over the apartment or part of it, or have persons living there who are not covered by the tenancy agreement, or transfer the tenancy agreement. The Lessor requires that the apartment be used for student housing (AHVL 17, 18, 44 and 45§). 7. The Tenant’s responsibilities during occupancy The Tenant is responsible for giving written notification to the Lessor concerning details of moving in or out or when vacating the apartment for a longer period of time, for more than one month. The Tenant is also responsible for notifying the Lessor of any changes concerning the identity or number of people living in the apartment during occupancy. The Tenant is responsible for cleaning, taking care of and carefully maintaining the apartment and equipment therein, the courtyard or terrace area immediately attached to it and to follow the instructions given by the Lessor. The Tenant is responsible for buying, installing, and maintaining a fire alarm. The Tenant is not responsible for the normal wear and tear of the apartment, but the Tenant is required to compensate for any damage caused by him/herself. The Tenant is adviced to take a comprehensive home insurance. In the beginning of tenancy any complaints concerning the condition of the apartment must be made directly to the Lessor, in the way the Lessor has specified, within two weeks of receiving the keys. You must notify the Lessor directly immediately after moving in if there are any complaints concerning the way the apartment was cleaned. The Tenant must notify the Lessor or a representative of the Lessor of any defects in the condition of the apartment within two weeks of moving in, and defects in the final cleaning immediately when moving in. During the period of occupancy the Tenant is also required to immediately inform the Lessor of any damage or defects occurring in the apartment.The Tenant must notify the Lessor of any damage or defects that the Lessor is responsible for repairing. The notification must be done immediately when the damage/defect is running the risk of getting worse if not fixed right away. A Tenant who does not notify the Lessor, will be held responsible for the resulting damage. The tenant is required to inform the Lessor immediately if he/she finds bugs, pests etc. so that the Lessor can take action and start the prevention. The Lessor reserves a right to carry out prevention acts without a separate advance notification if necessary. A room in a shared apartment is meant for one person (the Tenant). It is forbidden to house any person not included in the tenancy agreement. Smoking is forbidden in shared apartments and in all apartments with tenancy agreements commencing after May 31st 2010, as well as in hallways, staircases and other common areas. If the tenant smokes regardless of the rules, any costs resulting from the cleaning, ozonization, painting etc. of the apartment will be charged to the tenant.No pets are allowed in shared apartments and HYY-apartments. The Tenant is responsible for cleaning the apartment during tenancy, and for the final cleaning of the apartment at the termination of tenancy. When tenant changes the apartment is checked, which may cause charges if the responsibilities/cleaning request have not been carried out. The lessor has the right to have the apartment cleaned or repaired at the Tenants expense if necessary. All tenants are jointly responsible for the condition of the common areas of shared apartments. The amount of compensation that the tenant has to pay for damage is determined by the Tenant Charge Sheet and the Tenant Responsibility Chart that are in effect at the time. These documents are available on the Hoas website. However, the tenant is always responsible for the full cost of repairing the damage,even where it exceeds the charges in the aforementioned documents, or in the case that the particular cost/damage is not listed in the documents.

8. Common areas of the apartmentAll the Tenants in the apartment are jointly responsible and liable for the condition and upkeep of thecommon areas, and of the furniture and equipment in them. The Tenant is responsible for informingthe Lessor or representative of the Lessor of any changes in the condition of these areas and theequipment.9. HOASnetIf the apartment is connected to HOASnet, the Tenant, by signing the tenancy agreement, acknowledges and agrees to the terms of delivery. Hoas is not responsible for the possible shortdisconnections in the Internet service. Berliininkatu 5, Brysselinkatu 3, Rörstrandinkatu 3 have been connected to Arabianranta local network, the Tenant acknowledges and agrees to the terms of delivery. The same principles are in effect also in the Trinet network of Otaverkko Oy. Using the previously mentioned services is voluntary, but not using them does not entitle to reconsideration of the rent. 10. Compensation For such time as the apartment cannot be occupied, or is not in the required or agreed upon condition, and the Tenant has fullfilled his responsibility to notify the Lessor as stated on point 7, the Tenant has the right to apply for compensation. A written notification of the matter must be made immediately, after which compensation can be agreed upon. The Tenant may apply for compensation for the amount of rent or immediate expenses that is equivalent to the time period and amount of the inconvenience caused by the defect (AHVL 23 § 2 mom.). Compensation is paid under the condition that the damage or defect can be determined to be the fault of the Lessor through neglect or other carelessness (AHVL 23 § 3 mom.). Any outstanding payments to the Lessor may be subtracted from the compensation to the Tenant. The Lessor and the property owners have the right to carry out general repairs in the building and in the tenant’s apartment during the tenancy, without the tenant being compensated for the time of repairs. The companies that supply heat, water, electricity, telecommunication and Internet services are solely responsible for the operation of these services in accordance with their general delivery terms, regardless of whether the costs of these services are included in the rent or paid for separately. HOAS is liable only for damages caused by its own negligence. 11. The Lessor’s right to enter the apartment To lease and supervise the condition and upkeep of the apartment the Tenant must allow a representative of the Lessor to enter the apartment without delay as soon as convenient. Should need be or in cases that need immediate acts, a representative of the Lessor has the right to inspect an apartment without the Tenant’s consent. Hoas inspects all apartments at the termination of the tenancy. An apartment inspection may include two inspection visits, the first of which is a preliminary check that is carried out while the current tenant is still living in the apartment. There may be a second check after the tenant has moved out and the new tenant has just signed a tenancy agreement. The tenant will not be notified of either inspection and they will be carried out by using a master key. Repair work may be carried out during the inspections, or a cleaning may be scheduled as a result of the second inspection. 12. Transferring the tenancy agreement On grounds of expediency, the Lessor may, in accordance with the terms of notice, transfer the tenancy to an equivalent apartment or an equivalent part of an apartment that is under the Lessor’s authority. 13. Rent and other chargesRent is determined according to the amount that is needed, in conjunction with other earnings, to cover expenses and financing the upkeep of the apartment and related areas in accordance with good property maintenance. Rent will be adjusted in accordance with changes in the amounts listed above. The rent in different buildings and apartments may be averaged. Rent is set at monthly rates, of which the average rent per square metre for each estate is calculated. Rent will be checked annually or when necessary according to these principles even if the restrictions on State subsidised low-income rentals have ended. In addition to the rent the Tenant agrees to pay the current utility charges, for example, the charges for electricity, sauna and parking, and fees according to the Resident charge sheet. Spouses, and other parties of a joint agreement are jointly responsible for the rent and utility charges during the entire period of the tenancy agreement. 14. Notification of changes in rent and charges The Lessor will inform the Tenant of changes in rent and charges in writing before they come into effect. 15. Payment/collection Rent and other charges will be paid monthly in advance to the Lessor’s bank account, at latest the sixth day of each month. A penalty interest rate and collection fee will be added to overdue charges in accordance with the law. Tenant’s account will be referred to a collection agency at the latest when outstanding payments equal two month’s rent. 16. Termination and dissolving of the tenancy agreement When either party gives notice, the agreement will dissolve after the term of notice is over. The Tenant’s term of notice is one (1) month, which is calculated from the last day of the month in which notice is given. Cancellation of termination of tenancy agreement will be charged according to the resident price sheet in force at the time of cancellation. When the Lessor gives notice of the tenancy agreement, the term of notice is three (3) months. If the tenancy has, prior to the giving of notice, continued uninterruptedly for at least one year, the term of notice for the Lessor is six (6) months. A fixed period agreement will end without a separate notice, unless after having made an agreement such matters come to light that make the validity of the agreement unreasonable to either party. The notice of termination shall always be made with the form for notice of termination. The notice of termination for a family agreement and other joint agreements must be done by all tenancy agreement signatories. The Lessor has a right to terminate the tenancy agreement due to renovations that are scheduled for the property but primarily the Lessor tries to arrange a temporary accommodation from Hoas for the period of the renovation. The tenancy agreement can also be terminated because of, for example, unpaid rent or causing disturbance. If such is the case, theagreement may be terminated either immediately upon notice or at a later date, as stated by the person terminating the agreement. 17. Verifying the right of occupancy It is the responsibility of the Tenant to inform the Lessor of changes in the circumstances which were reported at the start of the tenancy agreement relating to the Tenant’s studies, such as the discontinuation of studies, graduating or other pertinent information. Furthermore, the Tenant is bound to supply the information about his/her right of occupancy as requested and to allow the Lessor to obtain from the educational institution information about his/her studies. Full-time studying and credit units are verified according to the valid credit unit limit in conjunction with the right of occupancy, the regulations on which are confirmed by the Board of Directors or a body authorised by it. Concerning university, art and polytechnic students the credit unit limit is specified to be 30 credits/calendar year or 60 credits/two calendar years. Giving false information or refusing to supply information can lead to the Lessor giving notice or cancelling the tenancy agreement.

CONFIDENTIAL 4(18)

2.4. Based on these aforementioned documents the Purchaser shall have the final foundation draw-ings (hereinafter “Final Foundation Drawings”) done. These Final Foundation Drawings shall be approved by the Supplier before the execution of the foundation shall begin.

2.5. The Supplier shall deliver to the Purchaser drawings of the design of the Equipment, and

shall not be entitled to deliver the Equipment to the Purchaser prior to Purchaser’s approv-al of the design.

2.6. The delivery of the Equipment shall include all necessary technical and other documentation

relating to the Equipment. Any technical documentation shall be delivered to the Purchaser without any additional costs to the Purchaser. The language of the documentation shall be the language of the Agreement or English.

2.7. For maintenance purposes, the Supplier shall submit to the Purchaser sufficient manufac-turing drawings, including material and part lists, of all parts which wear down during oper-ation and which must be replaced or reconditioned regularly during the estimated lifetime of the Equipment.

2.8. Documents shall be delivered in accordance with Appendix 3, which specifies the agreed delivery times for the documentation. If any of the documents have not been delivered in agreed times, clause 18 “Delay in delivery” shall apply.

3. REQUIREMENTS 3.1. Details on the requirements regarding quality, safety and CE markings of the Equipment

are provided in Appendix 13.

Price and Payment

4. PURCHASE PRICE4.1. For the fulfilment of all obligations and undertakings under the terms and conditions of

this Agreement, the Purchaser shall pay to the Supplier a purchase price equal to fivehundred thousand (500 000) euro (hereinafter the “Purchase Price”).

4.2. Prices and/or pricing principles may be specified in the price specifications (Appendix 4). All prices shall be fixed prices for the term of the Agreement, and shall include all taxes(exclusive of value added tax (VAT)), duties, levies and charges imposed under the ap-plicable legislation. In addition to the agreed prices, the Purchaser shall be liable to paythe Supplier only the VAT, if applicable. All prices are quoted and payments shall be made in euros.

4.3. Additional work and changes, and compensation thereof, shall be agreed between the Parties as specified in clause 16 “Additional work and Changes”. The prices specified herein and in Appendix 4 are fixed and valid until the Final Acceptance of the Equipment.The compensation for approved additional work and changes together with the Pur-chase Price shall form the final total compensation for the Equipment (hereinafter the “Total Purchase Price”).

5. PAYMENT TERMS5.1. The Purchaser shall pay the Purchase Price specified above in accordance with the fol-

lowing payment schedule (hereinafter “Payment Schedule”) and against the Supplier’s in-voice. The right to invoice arises on the fulfilment of the terms of payment stated below:

CONFIDENTIAL 15(18)

Property Rights of the Purchaser without the Purchaser’s explicit written consent and notfor any other purpose than the delivery of Equipment in accordance with the Agreement.Furthermore, the Supplier shall not use the technical data and other information and mate-rial provided by the Purchaser hereunder for any other purpose than the proper perfor-mance of the Agreement. Any violation of this clause by the Supplier shall be regarded assubstantial breach of the Agreement.

22.2. The Supplier warrants and shall be liable to ensure that the delivered Equipment is free

from any rights or claims of third parties and that the Equipment does not infringe any In-tellectual Property Rights or other rights of third parties.

22.3. If the Equipment is found or alleged to be infringing Intellectual Property Rights or otherrights of third parties, the Supplier undertakes, without any expenses to the Purchaser and with the Purchaser’s consent, to modify or replace the Equipment so that it no longer vio-lates any third party rights or to obtain and maintain such license and rights from the third party as are required for the unrestricted, continuous use of the Equipment for the pur-pose it was originally intended under the Agreement.

22.4. The above clause shall remain in force also after the termination, cancellation or expiry of

the Agreement.

23. CONFIDENTIALITY 23.1. The Parties shall keep confidential, and shall not disclose at any stage to any third par-

ties, the content of this Agreement as well as any Confidential Information received fromthe other Party or otherwise learned in connection with the Agreement without the priorwritten consent of the other Party. The Parties shall not use Confidential Information re-ceived from the other Party for any other purposes than the proper performance of the Agreement or the fulfilment of their rights and obligations under the Agreement.

23.2. Any and all documents and information disclosed by the Parties to each other pursuantto this Agreement shall be considered as the property of the disclosing Party, exceptany drawings and documents, or their copies, delivered by the Supplier to the Purchas-er that shall be considered as a part of the Equipment and are necessary for the instal-lation, operation and maintenance of the Equipment.

23.3. The Supplier shall ensure the confidentiality of the Purchaser’s Confidential Information at least with the same degree of security as it exercises to its own Confidential Infor-mation.

23.4. The confidentiality obligation stipulated herein shall not be applied to material and in-formation which:

o has become generally available or otherwise public prior to its submission by the other Party;

o becomes generally available or otherwise public due to a reason other than the negligence or omission of the receiving Party or its personnel or other actions in violation of this Agreement or the applicable legislation;

o the Party has lawfully received from a third party without any obligation of confi-dentiality;

o was lawfully in the possession of the receiving Party prior to receipt of the same from the other Party without any obligation of confidentiality related thereto;

o a Party has developed independently without using material or information re-ceived from the other Party; or

o a Party shall disclose pursuant to law, decree or other order issued by competentregulatory or governmental body or other public authority or a judicial order, in

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were not known about when making the tender and that the service provider can demonstrate grounds for the price change. Accordingly the price of the service shall change from the date when the above-mentioned changes come into force. The serv-ice provider shall also have the above-mentioned right when the price is fixed.

10.7 If the price is not fixed, the service provider shall have the right during the contract period to adjust the price corresponding to the general cost trend of the service. The service provider must deliver a price adjustment notification in writing at least two (2) months before the price adjustment comes into force. The service provider must present to the customer an appropriate explanation of the cost trend and the reasons for the price adjustment. If no unanimity is reached on the price adjustment, the cus-tomer shall have the right to give notice of terminating the contract from the time that the price adjustment comes into force. The giving of notice must be made in writing before the new prices come into force. If the customer does not give notice of termi-nating the contract, the contract shall continue using the new prices notified by the service provider or other prices agreed together by the contracting partners in price adjustment negotiations.

10.8 If the price is not fixed, the customer shall have the right during the contract period to propose a price adjustment corresponding to the general cost trend of the supplies. If no unanimity is reached on the price adjustment and the customer considers that it cannot continue the contract under the prevailing prices, the customer shall have the right to terminate the contract with a notice period of two (2) months. Notice of termination must be made in writing. If the customer does not give notice of termi-nating the contract, the contract shall continue using the prices prevailing before the price adjustment proposal or using other prices agreed together by the contracting partners in price adjustment negotiations after the price adjustment proposal.

10.9 If not otherwise agreed, the contracting parties may propose price adjustments in the ways described in Paragraphs 10.7 and 10.8 at the earliest twelve (12) months after the contract came into force and at intervals of not less than twelve (12) months.

10.10 In the event of the customer giving notice of terminating the contract on the grounds presented in this section, the service provider shall be obliged if the customer so wishes to deliver the supplies at the prevailing prices, if the notice of termination has been made on the basis of Paragraph 10.8, or according to the prices notified by the service provider in the price adjustment notification, if the notice of termination has been made on the basis of Paragraph 10.7, until the time notified by the customer, however at most six (6) months from the ending of the contract.

11 Terms of payment

11.1 Payments shall be paid against an invoice. If not otherwise agreed, the invoice shall be due for payment twenty-one (21) days from the arrival of an acceptable invoice.

GENERAL TERMS OF THE TENANCY AGREEMENT 01.01.2014

Helsingin seudun opiskelija-asuntosäätiö, kotipaikka Helsinki ja Y-tunnus 0116514-9 Helsingin yliopisto Vuolukiventie, kotipaikka Helsinki, Y-tunnus 0246242-8 Helsingin yliopiston ylioppilaskunta, kotipaikka Helsinki, Y-tunnus 0199976-8 Kt Oy Juus-Fastighets Ab, kotipaikka Kauniainen, Y-tunnus 0823393-3

1. Premise The Foundation’s student apartments are meant for full-time students during the period in which they are studying in institutions of higher learning in the Helsinki, Vantaa, Espoo and Kauniainen regions. HYY-Student-Housing is meant for full-time students who are members of the HYY (i.e. the Students’ Union of the Helsinki University). These agreement terms also concern the real estate companies owned together by the foundation and the municipality, and apartments whose Lessor is the Helsinki University. In addition to the terms of this agreement, tenants are subject to the law concerning rental apartments (AHVL 481/95), the rules and regulations of the housing company, the instructions and regulations given in resident notifications, the residence Guide, Tenant Charge Sheet, the Tenant Responsibility Chart, and other instructions and regulations that are currently in effect and available on the HOAS website, as well as the law (1190/93) concerning the use, relinquishing and buying of State subsidised low-income rental apartments and housing projects. 2. Tenancy period The tenancy agreement is for a fixed period or subject to notification. Only full-time students are allowed to sign tenancy agreements that are subject to notification or, in cases where the co-operation company is concerned, the Tenant of the housing department of the municipality according to the principles decided upon by the Board of Directors of the company. A fixed period tenancy agreement ends when the period is completed, unless there is an occurrence contingent on points 16 or 17 below. An agreement made for less than 6 months or a fixed-term-agreement in international exchange student housing quota cannot be terminated by giving notice. Agreements that are subject to notification end upon giving notice, upon cancellation or termination, or by mutual agreement. The Tenant is committed to handing over the apartment to the Lessor for the duration of summer months 1.6.-31.8. to be used as a summer hostel or other such activity. 3. Deposit When leasing an apartment the Tenant will pay a deposit to the Lessor. The deposit will be returned to the payer of the deposit within one month after the termination of the tenancy only if the Tenant has returned the keys to the apartment, the apartment is in a clean and normal condition and there are no outstanding payments nor any other outstanding obligations. The Lessor may use the deposit for settlement of any outstanding payments mentioned above without consulting the Tenant. Returned deposit does not absolve the tenant from the general terms of the tenancy agreement. During the tenancy period the Tenant does not have the right to request that the deposit be used to cover the cost of rent. The Tenant will not receive interest on the deposit. 4. Move-in day The Tenant is entitled to take possession of the apartment at the beginning of the tenancy period. However, if the tenancy period starts on a weekend or on a national holiday, the possession right begins the next weekday. The Tenant’s liability to pay rent comes into effect the day the tenancy period starts as stated in the tenancy agreement. At the termination of the tenancy, the apartment must be vacated by the last day of the tenancy agreement. 5. Keys The Tenant gets the keys at the beginning of the tenancy period. The keys are for the use of the tenant only, and they are to be handled with care and responsibility.Tenant must notify the Lessor immediately, if a key is lost or damaged. If a key is lost, the Tenant will be responsible for the costs (inc.rekeying costs). Making copies of the keys is prohibited. The Tenant is responsible for collecting and returning the keys to the Lessor in a manner stated by the Lessor. Any neglect concerning the keys will be charged from the tenant according to the valid resident price sheet. A security lock may only be installed with the Lessor’s permission, at the Tenant’s own expense. The Tenant commits to providing the Lessor with a key to the security lock. When moving out, the said lock must be left as installed and all keys handed over to the Lessor without charges. 6. Handing over the apartment to another person The Tenant living in student housing may not, without the permission of the Lessor, hand over the apartment or part of it, or have persons living there who are not covered by the tenancy agreement, or transfer the tenancy agreement. The Lessor requires that the apartment be used for student housing (AHVL 17, 18, 44 and 45§). 7. The Tenant’s responsibilities during occupancy The Tenant is responsible for giving written notification to the Lessor concerning details of moving in or out or when vacating the apartment for a longer period of time, for more than one month. The Tenant is also responsible for notifying the Lessor of any changes concerning the identity or number of people living in the apartment during occupancy. The Tenant is responsible for cleaning, taking care of and carefully maintaining the apartment and equipment therein, the courtyard or terrace area immediately attached to it and to follow the instructions given by the Lessor. The Tenant is responsible for buying, installing, and maintaining a fire alarm. The Tenant is not responsible for the normal wear and tear of the apartment, but the Tenant is required to compensate for any damage caused by him/herself. The Tenant is adviced to take a comprehensive home insurance. In the beginning of tenancy any complaints concerning the condition of the apartment must be made directly to the Lessor, in the way the Lessor has specified, within two weeks of receiving the keys. You must notify the Lessor directly immediately after moving in if there are any complaints concerning the way the apartment was cleaned. The Tenant must notify the Lessor or a representative of the Lessor of any defects in the condition of the apartment within two weeks of moving in, and defects in the final cleaning immediately when moving in. During the period of occupancy the Tenant is also required to immediately inform the Lessor of any damage or defects occurring in the apartment.The Tenant must notify the Lessor of any damage or defects that the Lessor is responsible for repairing. The notification must be done immediately when the damage/defect is running the risk of getting worse if not fixed right away. A Tenant who does not notify the Lessor, will be held responsible for the resulting damage. The tenant is required to inform the Lessor immediately if he/she finds bugs, pests etc. so that the Lessor can take action and start the prevention. The Lessor reserves a right to carry out prevention acts without a separate advance notification if necessary. A room in a shared apartment is meant for one person (the Tenant). It is forbidden to house any person not included in the tenancy agreement. Smoking is forbidden in shared apartments and in all apartments with tenancy agreements commencing after May 31st 2010, as well as in hallways, staircases and other common areas. If the tenant smokes regardless of the rules, any costs resulting from the cleaning, ozonization, painting etc. of the apartment will be charged to the tenant.No pets are allowed in shared apartments and HYY-apartments. The Tenant is responsible for cleaning the apartment during tenancy, and for the final cleaning of the apartment at the termination of tenancy. When tenant changes the apartment is checked, which may cause charges if the responsibilities/cleaning request have not been carried out. The lessor has the right to have the apartment cleaned or repaired at the Tenants expense if necessary. All tenants are jointly responsible for the condition of the common areas of shared apartments. The amount of compensation that the tenant has to pay for damage is determined by the Tenant Charge Sheet and the Tenant Responsibility Chart that are in effect at the time. These documents are available on the Hoas website. However, the tenant is always responsible for the full cost of repairing the damage, even where it exceeds the charges in the aforementioned documents, or in the case that the particular cost/damage is not listed in the documents.

8. Common areas of the apartment All the Tenants in the apartment are jointly responsible and liable for the condition and upkeep of the common areas, and of the furniture and equipment in them. The Tenant is responsible for informing the Lessor or representative of the Lessor of any changes in the condition of these areas and the equipment. 9. HOASnet If the apartment is connected to HOASnet, the Tenant, by signing the tenancy agreement, acknowledges and agrees to the terms of delivery. Hoas is not responsible for the possible short disconnections in the Internet service. Berliininkatu 5, Brysselinkatu 3, Rörstrandinkatu 3 have been connected to Arabianranta local network, the Tenant acknowledges and agrees to the terms of delivery. The same principles are in effect also in the Trinet network of Otaverkko Oy. Using the previously mentioned services is voluntary, but not using them does not entitle to reconsideration of the rent. 10. Compensation For such time as the apartment cannot be occupied, or is not in the required or agreed upon condition, and the Tenant has fullfilled his responsibility to notify the Lessor as stated on point 7, the Tenant has the right to apply for compensation. A written notification of the matter must be made immediately, after which compensation can be agreed upon. The Tenant may apply for compensation for the amount of rent or immediate expenses that is equivalent to the time period and amount of the inconvenience caused by the defect (AHVL 23 § 2 mom.). Compensation is paid under the condition that the damage or defect can be determined to be the fault of the Lessor through neglect or other carelessness (AHVL 23 § 3 mom.). Any outstanding payments to the Lessor may be subtracted from the compensation to the Tenant. The Lessor and the property owners have the right to carry out general repairs in the building and in the tenant’s apartment during the tenancy, without the tenant being compensated for the time of repairs. The companies that supply heat, water, electricity, telecommunication and Internet services are solely responsible for the operation of these services in accordance with their general delivery terms, regardless of whether the costs of these services are included in the rent or paid for separately. HOAS is liable only for damages caused by its own negligence. 11. The Lessor’s right to enter the apartment To lease and supervise the condition and upkeep of the apartment the Tenant must allow a representative of the Lessor to enter the apartment without delay as soon as convenient. Should need be or in cases that need immediate acts, a representative of the Lessor has the right to inspect an apartment without the Tenant’s consent. Hoas inspects all apartments at the termination of the tenancy. An apartment inspection may include two inspection visits, the first of which is a preliminary check that is carried out while the current tenant is still living in the apartment. There may be a second check after the tenant has moved out and the new tenant has just signed a tenancy agreement. The tenant will not be notified of either inspection and they will be carried out by using a master key. Repair work may be carried out during the inspections, or a cleaning may be scheduled as a result of the second inspection. 12. Transferring the tenancy agreement On grounds of expediency, the Lessor may, in accordance with the terms of notice, transfer the tenancy to an equivalent apartment or an equivalent part of an apartment that is under the Lessor’s authority. 13. Rent and other charges Rent is determined according to the amount that is needed, in conjunction with other earnings, to cover expenses and financing the upkeep of the apartment and related areas in accordance with good property maintenance. Rent will be adjusted in accordance with changes in the amounts listed above. The rent in different buildings and apartments may be averaged. Rent is set at monthly rates, of which the average rent per square metre for each estate is calculated. Rent will be checked annually or when necessary according to these principles even if the restrictions on State subsidised low-income rentals have ended. In addition to the rent the Tenant agrees to pay the current utility charges, for example, the charges for electricity, sauna and parking, and fees according to the Resident charge sheet. Spouses, and other parties of a joint agreement are jointly responsible for the rent and utility charges during the entire period of the tenancy agreement. 14. Notification of changes in rent and charges The Lessor will inform the Tenant of changes in rent and charges in writing before they come into effect. 15. Payment/collection Rent and other charges will be paid monthly in advance to the Lessor’s bank account, at latest the sixth day of each month. A penalty interest rate and collection fee will be added to overdue charges in accordance with the law. Tenant’s account will be referred to a collection agency at the latest when outstanding payments equal two month’s rent. 16. Termination and dissolving of the tenancy agreement When either party gives notice, the agreement will dissolve after the term of notice is over. The Tenant’s term of notice is one (1) month, which is calculated from the last day of the month in which notice is given. Cancellation of termination of tenancy agreement will be charged according to the resident price sheet in force at the time of cancellation. When the Lessor gives notice of the tenancy agreement, the term of notice is three (3) months. If the tenancy has, prior to the giving of notice, continued uninterruptedly for at least one year, the term of notice for the Lessor is six (6) months. A fixed period agreement will end without a separate notice, unless after having made an agreement such matters come to light that make the validity of the agreement unreasonable to either party. The notice of termination shall always be made with the form for notice of termination. The notice of termination for a family agreement and other joint agreements must be done by all tenancy agreement signatories. The Lessor has a right to terminate the tenancy agreement due to renovations that are scheduled for the property but primarily the Lessor tries to arrange a temporary accommodation from Hoas for the period of the renovation. The tenancy agreement can also be terminated because of, for example, unpaid rent or causing disturbance. If such is the case, the agreement may be terminated either immediately upon notice or at a later date, as stated by the person terminating the agreement. 17. Verifying the right of occupancy It is the responsibility of the Tenant to inform the Lessor of changes in the circumstances which were reported at the start of the tenancy agreement relating to the Tenant’s studies, such as the discontinuation of studies, graduating or other pertinent information. Furthermore, the Tenant is bound to supply the information about his/her right of occupancy as requested and to allow the Lessor to obtain from the educational institution information about his/her studies. Full-time studying and credit units are verified according to the valid credit unit limit in conjunction with the right of occupancy, the regulations on which are confirmed by the Board of Directors or a body authorised by it. Concerning university, art and polytechnic students the credit unit limit is specified to be 30 credits/calendar year or 60 credits/two calendar years. Giving false information or refusing to supply information can lead to the Lessor giving notice or cancelling the tenancy agreement.

CONFIDENTIAL 4(18)

2.4. Based on these aforementioned documents the Purchaser shall have the final foundation draw-ings (hereinafter “Final Foundation Drawings”) done. These Final Foundation Drawings shall be approved by the Supplier before the execution of the foundation shall begin.

2.5. The Supplier shall deliver to the Purchaser drawings of the design of the Equipment, and

shall not be entitled to deliver the Equipment to the Purchaser prior to Purchaser’s approv-al of the design.

2.6. The delivery of the Equipment shall include all necessary technical and other documentation

relating to the Equipment. Any technical documentation shall be delivered to the Purchaser without any additional costs to the Purchaser. The language of the documentation shall be the language of the Agreement or English.

2.7. For maintenance purposes, the Supplier shall submit to the Purchaser sufficient manufac-

turing drawings, including material and part lists, of all parts which wear down during oper-ation and which must be replaced or reconditioned regularly during the estimated lifetime of the Equipment.

2.8. Documents shall be delivered in accordance with Appendix 3, which specifies the agreed

delivery times for the documentation. If any of the documents have not been delivered in agreed times, clause 18 “Delay in delivery” shall apply.

3. REQUIREMENTS 3.1. Details on the requirements regarding quality, safety and CE markings of the Equipment

are provided in Appendix 13.

Price and Payment

4. PURCHASE PRICE 4.1. For the fulfilment of all obligations and undertakings under the terms and conditions of

this Agreement, the Purchaser shall pay to the Supplier a purchase price equal to five hundred thousand (500 000) euro (hereinafter the “Purchase Price”).

4.2. Prices and/or pricing principles may be specified in the price specifications (Appendix 4).

All prices shall be fixed prices for the term of the Agreement, and shall include all taxes (exclusive of value added tax (VAT)), duties, levies and charges imposed under the ap-plicable legislation. In addition to the agreed prices, the Purchaser shall be liable to pay the Supplier only the VAT, if applicable. All prices are quoted and payments shall be made in euros.

4.3. Additional work and changes, and compensation thereof, shall be agreed between the

Parties as specified in clause 16 “Additional work and Changes”. The prices specified herein and in Appendix 4 are fixed and valid until the Final Acceptance of the Equipment. The compensation for approved additional work and changes together with the Pur-chase Price shall form the final total compensation for the Equipment (hereinafter the “Total Purchase Price”).

5. PAYMENT TERMS 5.1. The Purchaser shall pay the Purchase Price specified above in accordance with the fol-

lowing payment schedule (hereinafter “Payment Schedule”) and against the Supplier’s in-voice. The right to invoice arises on the fulfilment of the terms of payment stated below:

CONFIDENTIAL 15(18)

Property Rights of the Purchaser without the Purchaser’s explicit written consent and not for any other purpose than the delivery of Equipment in accordance with the Agreement. Furthermore, the Supplier shall not use the technical data and other information and mate-rial provided by the Purchaser hereunder for any other purpose than the proper perfor-mance of the Agreement. Any violation of this clause by the Supplier shall be regarded as substantial breach of the Agreement.

22.2. The Supplier warrants and shall be liable to ensure that the delivered Equipment is free

from any rights or claims of third parties and that the Equipment does not infringe any In-tellectual Property Rights or other rights of third parties.

22.3. If the Equipment is found or alleged to be infringing Intellectual Property Rights or other

rights of third parties, the Supplier undertakes, without any expenses to the Purchaser and with the Purchaser’s consent, to modify or replace the Equipment so that it no longer vio-lates any third party rights or to obtain and maintain such license and rights from the third party as are required for the unrestricted, continuous use of the Equipment for the pur-pose it was originally intended under the Agreement.

22.4. The above clause shall remain in force also after the termination, cancellation or expiry of

the Agreement.

23. CONFIDENTIALITY 23.1. The Parties shall keep confidential, and shall not disclose at any stage to any third par-

ties, the content of this Agreement as well as any Confidential Information received from the other Party or otherwise learned in connection with the Agreement without the prior written consent of the other Party. The Parties shall not use Confidential Information re-ceived from the other Party for any other purposes than the proper performance of the Agreement or the fulfilment of their rights and obligations under the Agreement.

23.2. Any and all documents and information disclosed by the Parties to each other pursuant to this Agreement shall be considered as the property of the disclosing Party, except any drawings and documents, or their copies, delivered by the Supplier to the Purchas-er that shall be considered as a part of the Equipment and are necessary for the instal-lation, operation and maintenance of the Equipment.

23.3. The Supplier shall ensure the confidentiality of the Purchaser’s Confidential Information at least with the same degree of security as it exercises to its own Confidential Infor-mation.

23.4. The confidentiality obligation stipulated herein shall not be applied to material and in-formation which:

o has become generally available or otherwise public prior to its submission by the other Party;

o becomes generally available or otherwise public due to a reason other than the negligence or omission of the receiving Party or its personnel or other actions in violation of this Agreement or the applicable legislation;

o the Party has lawfully received from a third party without any obligation of confi-dentiality;

o was lawfully in the possession of the receiving Party prior to receipt of the same from the other Party without any obligation of confidentiality related thereto;

o a Party has developed independently without using material or information re-ceived from the other Party; or

o a Party shall disclose pursuant to law, decree or other order issued by competent regulatory or governmental body or other public authority or a judicial order, in

4

IV The supply of goods and services to any of the sites, described in I to III above, unless such insurances or reinsurances shall exclude the perils of irradiation and contamination by Nuclear Material.

Except as undernoted, Nuclear Energy Risks shall not include:-

(i) any insurance or reinsurance in respect of the construction or erection or installation or replacement or repair or maintenance or decommissioning of Property as described in I to III above (including contractors' plant and equipment);

(ii) any Machinery Breakdown or other Engineering insurance or reinsurance not coming within the scope of (i) above.

Provided always that such insurance or reinsurance shall exclude the perils of irradiation and contamination by Nuclear Material.

However, the above exemption shall not extend to:-

1. The provision of any insurance or reinsurance whatsoever in respect of:-

(a) Nuclear Material; (b) Any Property in the High Radioactivity Zone or Area of any Nuclear Installation as from the introduction of Nuclear Material or - for reactor installations - as from fuel loading or first criticality where so agreed with the relevant local Nuclear Insurance Pool and/or Association.

2. The provision of any insurance or reinsurance for the undernoted perils:

- Fire, lightning, explosion;

- Earthquake;

- Aircraft and other aerial devices or articles dropped therefrom;

- Irradiation and radioactive contamination;

- Any other peril insured by the relevant local Nuclear Insurance Pool and/or Association;

in respect of any other Property not specified in 1 above which directly involves the Production, Use or Storage of Nuclear Material as from the introduction of Nuclear Material into such Property.

Definitions

"Nuclear Material" means:

(i) Nuclear fuel, other than natural uranium and depleted uranium, capable of producing energy by a self-sustaining chain process of nuclear fission outside a Nuclear Reactor, either alone or in combination with some other material; and

(ii) Radioactive Products or Waste.

"Radioactive Products or Waste" means any radioactive material produced in, or any material made radioactive by exposure to the radiation incidental to the production or utilisation of nuclear fuel, but does not include radioisotopes which have reached the final stage of fabrication so as to be usable for any scientific, medical, agricultural, commercial or industrial purpose.

"Nuclear Installation" means:

(i) Any Nuclear Reactor;

(ii) Any factory using nuclear fuel for the production of Nuclear Material, or any factory for the processing of Nuclear Material, including any factory for the reprocessing of irradiated nuclear fuel; and

(iii) Any facility where Nuclear Material is stored, other than storage incidental to the carriage of such material.

"Nuclear Reactor" means any structure containing nuclear fuel in such an arrangement that a self-sustaining chain process of nuclear fission can occur therein without an additional source of neutrons.

"Production, Use or Storage of Nuclear Material" means the production, manufacture, enrichment, conditioning, processing, reprocessing, use, storage, handling and disposal of Nuclear Material.

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sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness

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sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness sameness

all contracts look and feel the same, even though they areaddressed to different users, with different needs & skills,and are produced by differentorganizations to regulate avariety of different transactionswith different goals.

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Contracts are the “glue of business”, but all too oftenthey are hard to understand and implement.

Contracts are not designed keeping in mindthe needs and activities of thoseworking with and through contracts everyday,(whose goal is business success, not winning in court).

Problem:

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Contracts are written by lawyers for lawyers,thinking only about winning possible disputes.

Traditionally, contracts are studied as legal-economicsafeguarding and enforcing mechanisms– not as actual documents, or business tools.

Why?

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“A proactive contract is crafted for the parties, especiallyfor the people in charge of its implementation in the field, not for a judge who is supposed to decideabout the parties’ failures.

... the proactive contracting process and documentsseek to align and express the interests of both sidesof the contract in order to create value for both.”

Gerlinde Berger-Walliser, Robert C. Bird & Helena Haapio (2011)

A Proactive Approach

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A Proactive Approachtranslated into practice, requires clear, actionable communication.

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Contractvisualizationis a practical manifestation of the proactive approach.

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RQ1 RQ2 RQ3 RQ4

Pub. I Pub. II Pub. III Pub. IV Pub. V Pub. VIConceptual Empirical Empirical EmpiricalEmpirical Conceptual

Contract visualization is a novel practice:exploration through a mixed method approach

QualitativeQuantitative

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What types of visualizations are suitablefor representing the type of informationencoded in contracts, in a way that is suitablefor contract users?

RQ1

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keydesignpatterns

6

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keydesignpatterns

6 Repeatable “model” solutions to recurring problems> not strict rules> emerging from practice & lit.

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To clarify a sequence of events in time,milestones, the duration of time periods...

Timelines

Date of signingIf not so terminated,the Agreement continuesuntil either party givesat least 3 months’ notice

6 3

01.01.2012 31.12.2014

If terminated with at least6 months notice, the Agreement ends 3 years from date of signing

This Agreement shall be valid for an initial period of three (3) years from the date of signing. Unless either Party gives notice of termination at least six (6) months before the expiry of the three-year period, it shall remain in force untilfurther notice, with a notice period of at least three (3) months. Notice shall be given in writing.

> Example from a B2B framework agreement

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To clarify a process with multiple decision points,what-ifs and alternative outcomes

Flowcharts

NOT FIXEDPRICES

Does the Supplieragrees to theadjustmentssuggested by thePurchaser?

Does the Supplierannounce in writ-ing its intentions tochange the pricesat least 2 monthsbefore the newprices will enter inforce?

NEGOTIATIONS:Can the Partiesreach unanimityon the adjustedprices?

The contract shallcontinue using theprices announcedby the Supplier.

§10.7

§10.7

§10.7

§10.7

YES

The Purchaser has the right to propose price adjustments corre-sponding to the general cost trend of the supplies.

The contract con-tinues under theproposed prices

The contract contin-ues under the new, agreed prices.

§10.7§10.7

§10.7

No right to change prices.

§10.7 §10.7

The Purchaser has the right to termi-nate the agreement. Does the Purchaser provide a written termination notice during a 2 months notice period?

NO

TO DO

TERMINATIONThe supplier shall be obliged, if the customer so wishes, to deliver the service at the prices notified by the in the price adjustment notification, until at most 6 months from the ending of the contract.

§10.10

YES

YES YES

NO

NONO

> Example from the JYSE Visual Guide to Finnish Terms & Conditions for Public Procurement of Services

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To organize systematically informationin a more searchable, comparable & skimmable way

Tables

Ownership (10.1)

Royalty-free Access Right(non-exclusive, irrevocable and perpetual licence and right to use FI in R&D work and business operations) (10.5)

Rights tO FORegROund inFORmAtiOn (Fi)

Rights tO tRAnsFeROwneRship Rights tO sublicence duRAtiOn OF the Rights

Yes, as long as (10.3):

- Rights and obligations arising from this Agreement and/or from applicable rules of a public funding organisation are transferred as well;

- Other Parties have priority over third parties until 24 months from the end of Programme.

no

no

Only if (10.7):

- To subcontractors for Party’s own research or development work or business operations

- To users of a Party’s end product or service, if elements of FI are included in a Party’s product or distributed appended to it

no

no time limit unlessOwnership is transferred

whO

inVenting pARtY

OtheR pARties &theiR gROup entities

subcOntRActORs

Royalty-free limitedAccess Right(non-exclusive right to use FI to the extent it is neces-sary for carrying out work within the Programme) (10.8)

Yes, but (10.4):

- Not exclusively;

- Obligation to inform the other Parties during Programme within 30 days from the execution of license.

For as long Access Right to Fi is necessary for carrying out work within programme.

no time limit.Note however that a license to Background Information may be needed.

> Example from the FIMECC (now DIMECC) Consortium Agreement

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To clarify the parties’ areas ofresponsibility, and assign rights,duties, tasks, etc.

When it makes and commissions changes to material transferred by the service provider, the customer must ensure that none of the service provider’s business or professional secrets are divulged

IP RIGHTS

IP OBLIGATIONS &RESPONSIBILITIES

If any claims are presented against the customer concerning IPR relating to the services or related material, the serviceprovider shall be obliged to meet these claims on the custo-mer’s behalf and at its own expense.

The service provider shall be responsible to the customer for ensuring that no legal costs, damages, other compensation payable to a third party or other liabilities towards a third party are incurred by the customer through claims or obli-gations arising from IPR relating to the services or related material.

§19.3

The service provider shall be responsible for ensuring that the provided services or related material do not, when they are used, violate a third party’s patent, copyright or other intellectual property rights which are valid in Finland.

§19.1

All material that the parties transfers before or after the signing of the cont-ract shall remain the property ofthe transferor of the material.

The customer has an irrevocable right of use to the end results of the service as well as to other material trans-ferred to it by the service provider for a purpose related to the use of service in accordance with the contract. Right of use shall include the right to use, copy and make or commission changes.

IPR to the end results or documentation of the service shall not be transferred to the customer.

The customer shall have the right to transfer material to the party whom the customer’s tasks are transferred.

Service SupplierCustomer

§19.1

§19.1

§19.2

§19.1

§19.1

Swimlanes

> Example from the JYSE Visual Guide to Finnish Terms & Conditions for Public Procurement of Services

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To make information more salient,findable, and memorable

Companion icons In addition to the terms of this agreement, tenants are subject to:• The law concerning rental apartments (AHVL 481/95)• The law (1190/93) concerning the use, relinquishing and buying of State subsidised low-income rental apartments and housing projects• Rules and Regulations of the Housing Company• Residence Guide• Tenant Responsibility Chart• Instructions and regulations given in resident notifications• Tenant Charge Sheet• Other instructions and regulations that are currently in effect and available on the HOAS website

• When leasing an apartment the Tenant will pay a deposit to the Lessor.• The deposit will be returned to the payer of the deposit within one month after the termination of the tenancy only if: + the Tenant returned the keys to the apartment + apartment is in a clean and normal condition + there are no outstanding payments nor any other outstanding obligations• The Lessor may use the deposit for settlement of any outstanding payments without consulting the Tenant• the Tenant does not have the right to request that the deposit be used to cover the cost of rent• The Tenant will not receive interest on the deposit.

• The Tenant gets the keys at the beginning of the tenancy period• Keys are for the use of the Tenant only, and they are to be handled with care and responsibility• Making copies of the keys is forbidden• If keys are lost or damaged, the Tenant: + must notify the Lessor immediately + is responsible for all costs of rekeying etc.• The Tenant is responsible for collecting and returning the keys to the Lessor in a manner stated by the Lessor• Any neglect concerning keys will be charged according to the valid resident price sheet

• The Tenant may install a security lock: + at own expense + only with the Lessor permission + the Tenant commits to providing the Lessor with a key to the security lock + when moving out, the said lock must be left as installed and all keys handed over to the Lessor without charges

5. Keys

3. Deposit

2. Tenancy period

2. Tenancy Agreement subject to notification• Only for full-time students• An agreement subject to notification ends: - upon giving notice - or, upon cancellation or termination - or, by mutual agreement• The Tenant is committed to hand over the apartment for the summer months (1.6.-31.8.) to be used as summer hostel

1. Fixed Term Tenancy Agreement• A fixed term agreement ends: - when the period is completed - or, if there is an occurrence contingent on points 8.3 or 13 below• A fixed term agreement cannot be terminated if: - the tenancy period is made for less than 6 months - or, it is a fixed-term agreement in international exchange student housing quota• The Tenant is committed to hand over the apartment for the summer months (1.6.-31.8.) to be used as summer hostel

The tenancy agreement is for a fixed period or subject to notification.

• The Tenant is entitled to take posssession of the apartment: - at the beginning of the tenancy period - or, if the tenancy period starts on a weekend or on a national holiday, the possession right begins the next weekday• The Tenant must vacate the apartment by the last day of the tenancy agreement

4. Move-in day

1. Premise

General Terms of the Tenancy Agreement

• The Tenant’s liability to pay rent comes into effect the day the tenancy period starts as stated in the tenancy agreement• Rent is set at monthly rates, of which the average rent per square metre for each estate is calculated• In addition to rent, the Tenant agrees to pay the current utility charges, e.g. electricity, sauna and parking, and fees according to the Resident charge sheet• Rent and other charges shall be paid by the sixth day of each month to the Lessor’s bank account• Spouses and other parties of a joint agreement are jointly responsible for the rent and charges for the whole tenancy period

Delay in payment

• A penalty interest and a collection fee will be added to overdue charges, in accordance with the law• The Tenant’s account will be referred to a collection agency at latest when outstanding payments equal 2 months’ rent

6. Payment of rent and other charges

R€NT

1. Upkeeping, cleaning, preventing• Cleaning, taking care and maintaining the apartment and equipment therein, the courtyard or terrace area immediately attached to it and to follow the instructions given by the Lessor• Final cleaning of the apartment at the end of the tenancy period, as instructed by the Lessor• All Tenants of a shared apartment are jointly responsible and liable for the condition and upkeep of common areas of the apartment, and furniture and equipment therein• Buying, installing and maintaining a fire alarm• The Tenant is adviced to take a comprehensive home insurance

2. Giving timely notifications to the Lessor (in the way the Lessor has specified)• About details of moving in/moving out, or if vacating the apartment for a period longer than 1 month• About changes in the identity and /or number of people living in the apartment• In the beginning of tenancy: + about any defects in the condition of the apartment within 2 weeks of moving in + about defects in the final cleaning of the apartment immediately when moving in• During the period of occupancy: + about any damages or defects occurring in the apartment, immediately after noticing them + about any change in the condition of common areas, immediately after noticing them + about any bugs, pests etc, immediately after noticing them

3. Verifying the right of occupancy • Tenant is bound to supply the information about his/her right of occupancy as requested and to allow the Lessor to obtain from the educational institution information about his/her studies • Concerning university, art and polytechnic students the minimum amount of credits to be considered a full-time student and maintain the right of occupancy is specified to be 30 credits/calendar year or 60 credits/two calendar years• The Tenant must communicate changes in his/her own student status that affect the right of occupancy (e.g. discontinuation of studies, graduation, etc.) • Giving false information or refusing to supply information can lead to the Lessor giving notice or cancelling the tenancy agreement

4. Prohibitions• A room in a shared apartment is mean only for one person, the Tenant.• It is forbidden to house any person not included in the tenancy agreement• Smoking is forbidden in all apartments with tenancy agreements starting after 31.05.2010, as well as hallways, staircases and common areas• No pets are allowed in shared apartments or HYY-apartments

5. Accountability over property damages• The Tenant is not responsible for normal tear and wear of the apartment• The Tenant must notify the Lessor of any damage or defects that the Lessor is responsible for repairing. The notification must be done immediately when the damage/defect is running the risk of getting worse if not fixed right away. A Tenant who does not notify the Lessor, will be held responsible for the resulting damage.• The Tenant is required to compensate for any damage caused by him/herself• The amount of compensation that the tenant has to pay for damage is determined by the Tenant Charge Sheet and the Tenant Responsibility Chart that are in effect at the time. However, the Tenant is always responsible for the full cost of repairing the damage, even where it exceeds the charges in the aforementioned documents, or in the case that the particular cost/damage is not listed in the documents• If the Tenant smokes regardess of the rules, s/he will be charged any costs resulting from the cleaning, ozonization, painting, etc. of the apartment• The Tenant will be charged, at the end of the tenancy period, if the cleaning/maintaining responsibilities were not carried out properly. The Lessor has the right to have the apartment cleaned and/or repaired at the Tenant’s expense, if necessary

• In order to supervise the condition and upkeep of the apartment, the Tenant must allow a representative of the Lessor to enter the apartment without delay as soon as convenient• Should need be or in cases that need immediate acts, a representative of the Lessor has the right to inspect an apartment without the Tenant’s consent• Hoas inspects all apartments at the termination of the tenancy. An apartment inspection may include two inspection visits, the first of which is a preliminary check that is carried out while the current tenant is still living in the apartment. There may be a second check after the tenant has moved out and the new tenant has just signed a tenancy agreement. The tenant will not be notified of either inspection and they will be carried out by using a master key• Repair work may be carried out during the inspections, or a cleaning may be scheduled as a result of the second inspection

9. Lessor’s right to enter the apartment

• The Lessor will notice the Tenant of changes in rent and other charges in writing before they come into effect• Rent will be adjusted according to the amount that is needed to cover expenses and finance the upkeep of the apartment, related areas and the estate in accordance with good property maintenance. The rent in different buildings and apartments may be averaged• Rent will be checked annually or when necessary according to these principles even if the restrictions on State subsidised low-income rentals have ended

7. Changes in rent and other charges

%

8. Tenant’s responsibilities during occupancy

• If the apartment is connected to HOASnet, Arabianranta local network or the Trinet network of Otaverkko oy, the Tenant, by signing the tenancy agreement, acknowledges and agrees to the terms of delivery• Using the above mentioned services is voluntary, but not using them does not entitle to reconsideration of the rent

10. Internet connection

• The Tenant may not, without the Lessor’s permission, hand over the apartment, part of it or transfer the agreement to another person. Additionally, the apartment can only be used for student housing (AHVL 17, 18, 44 and 45§).• On grounds of expediency, the Lessor may, in accordance with the terms of notice (Point 13), transfer the tenancy to an equivalent apartment or an equivalent part of an apartment that is under the Lessor’s authority.

11. Transferring the agreement

13. Termination of the tenancy agreement and notice periods

1. Termination by the Tenant• The Tenant’s term of notice is 1 month, which is calculated from the last day of the month in which notice is given• The notice of termination shall always be made with the form for notice of termination• The notice of termination for a family agreement and other joint agreements must be done by all tenancy agreement signatories• Cancellation or termination of tenancy agreement will be charged according to the resident price sheet in force at the time of cancellation

2. Termination by the Lessor• The Lessor’s term of notice is 3 months. However, if the tenancy has, prior to giving of notice, continued uninterruptedly for at least one year, the term of notice for the Lessor is 6 months• The Lessor has a right to terminate the tenancy agreement due to renovations that are scheduled for the property but primarily the Lessor tries to arrange a temporary accommodation from Hoas for the period of the renovation• The Lessor can terminate the agreement because of unpaid rent or causing disturbance. In this case, the agreement may be terminated either immediately upon notice or at a later date, as stated by the terminating party

3. Exceptions regarding fixed term agreements• A fixed-period agreement will end without a separate notice, unless, after having signed the agreement, such matters come to light that make the validity of the agreement unreasonable to either party

When either party gives notice, the agreement will dissolve after the term of notice is over

• For such time as the apartment cannot be occupied, the Tenant has the right to apply for a compensation: + under the condition that the damage/defect can be determined to be the fault of the Lessor through neglect or other carelessness (AHVL 23 § 3 mom.) + for the amount of rent or immediate expenses that is equivalent to the time period and amount of the inconvenience caused by the defect (AHVL 23 § 2 mom.) + it was not a condition that was previously agreed upon (e.g. summer break at Point 2) + the Tenant fulfilled his/her responsibility to notify immediately the Lessor as stated in to Point 8.2, in written form• Any outstanding payments to the Lessor may be subtracted from the compensation to the Tenant

• The Tenant is not entitled to a compensation for the time of repairs caused by: + general repairs in the building and in the tenant’s apartment that the Lessor and the property owners have the right to carry out + operations of a company other than the Lessor (e.g. the companies that supply heat, water, electricity, Internet and telecommunication services) regardless of whether the costs of these services are included in the rent or paid for separately

12. Compensation

> Example from a student apartment tenancy agreement

Page 25: PhD defense public lecture

To clarify the moment when risk and cost are transferred from supplier to buyer

Delivery diagrams

> Example from a sales of goods agreement

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To what extent do visualizations enhance thecomprehension of contract documents amongtheir intended users – operating in an everyday,non-adversarial organizational scenario?

RQ2

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Onlytext

3.06

4.35

1

2

3

4

6

5M

ean

Ans

wer

ing

Acc

urac

y(o

n 6

ques

tions

)

With visuals

Onlytext

4.62

6.00

1

2

3

4

6

5

Mea

n A

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ccur

acy

(on

7 qu

estio

ns)

7

With visuals

Onlytext

3.59

4.21

1

2

3

4

5

Mea

n A

nsw

erin

g A

ccur

acy

(on

5 qu

estio

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With visuals

> B2B contract> 122 int’l managers

> Tenancy agreement> 48 int’l master students

> Public procurement T&C’s> 76 finnish civil servants

Moreaccuratecomprehension

Onlytext

1079

897

100

200

300

400

With visuals

Mea

n A

nsw

erin

g Ti

me

(in s

econ

ds, o

n 6

ques

tions

)

700

500

600

800

1100

900

1000

Onlytext

990

818

With visuals

Mea

n A

nsw

erin

g Ti

me

(in s

econ

ds, o

n 5

ques

tions

)

100

200

300

400

700

500

600

800

1100

900

1000

Onlytext

896

586

Mea

n A

nsw

erin

g Ti

me

(in s

econ

ds, o

n 7

ques

tions

)

With visuals

100

200

300

400

700

500

600

800

1100

900

1000

Fastercomprehension

Three experiments, with different contracts & user groups

Page 28: PhD defense public lecture

Contract visualization works equally wellfor different people.

Visual contracts are easier/faster to understandeven for “verbalizers”, lawyers, experts familiarwith the subject matter, and older professionals.

in fact...

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Control group(textual contract)

Treatment group(visual contract)

2

3

5

4

0

1

6

4.3854.289

3.394

2.435

Mea

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Native SpeakersNonnative Speakers

© 2016 Stefania Passera. Used with permission.

Native speakers are (obviously) more accurate in comprehension than non-native speakers.

However, this differencedisappears when both groups use visualized contracts.

The B2B study shows one interaction effectwith key implications for global business

Page 30: PhD defense public lecture

TextualTenancyAgreement

In the Public Procurement andTenancy Agreement studies:

Contracts which include visualelements are perceived asmore useful /usable andmore gratifying to use byresearch participants.

VisualPublic ProcurementT&C’s

VisualTenancyAgreement

Contract visualization improves user experience

TextualPublic ProcurementT&C’s

Hedonic/Utilitarian Scale of user attitude (Spangenberg et al. 1997 ; Voss et al. 2003)

Page 31: PhD defense public lecture

Contract visualization improves user experience

In the Public Procurement study:

Research participants experienceda higher level of positive emotionsand a lower level of negativeemotions when using visualizedcontracts, as compared to using text-only contracts.

International Positive and Negative Affect Schedule, Short Form (Thompson, 2007)

10

15

20

25

5Visual Textual

17,98

7,07

15,83

9,03

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How and why do contract creators use contractvisualizations in contract documents?What knowledge-related problems are they tryingto solve by employing visualizations in contracts?

RQ3

Page 33: PhD defense public lecture

Results from a qualitative case study(sales of operation & maintenance outsourcing services in the paper industry)

Betweenprofessions

Betweenfirms

Betweenprocess stages

3 knowledge gaps(= lack of common understanding which threatens collaboration)

Page 34: PhD defense public lecture

Results from a qualitative case study(sales of operation & maintenance outsourcing services in the paper industry)

Betweenprofessions

Betweenfirms

Betweenprocess stages

3 knowledge gaps(= lack of common understanding which threatens collaboration)

Clarification

Framing

How contract visualizationsare used (= strategies tominimize theknowledge gaps)

Page 35: PhD defense public lecture

What approaches can facilitate contract creatorsin selecting, creating, modifying, and deployingvisualizations in contracts?

RQ4

Page 36: PhD defense public lecture

Three approaches

Pattern libraries

Visual templates

Automation bysoftware

Professionals rely on firm-specific semi-modifiable templates(e.g. in PowerPoint), adapting them to the specific contracting case at hand. The instance of the template can evolve during negotiation, and get crystallized upon contract signature.

Professionals input case-specific variables into an IT system, which then automatically generates the needed textualclauses and accompanying explanatory visualizations.

Professionals can find and apply suitable patterns from“collections of solutions” shared and built by theircommunity of practice or within their firms.

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To conclude...

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This dissertation contributesmethodologically rigorous evidenceabout the psychological and behavioraleffects of contract visualization(and its possibilities for organizations)

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It helps expanding the meaning of contract design

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It helps expanding the meaning of contract design

Choosing legal-economic enforcement/safeguardmechanisms suitable for a given transaction

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Choosing specific provisions (and how they arewritten/framed) to be included in contract documents

Choosing legal-economic enforcement/safeguardmechanisms suitable for a given transaction

It helps expanding the meaning of contract design

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Strategically designing all aspects of a contract document to achieve business goals:understanding u decisions u actions u goals

Choosing legal-economic enforcement/safeguardmechanisms suitable for a given transaction

Choosing specific provisions (and how they arewritten/framed) to be included in contract documents

It helps expanding the meaning of contract design

Page 43: PhD defense public lecture

Stefania Passera, MADoctoral Defense, Aalto University School of Science, 18.08.2017

Thank you!