ARBITRATION AGREEMENT
This Arbitration Agreement dated ________ ("Effective Date") entered into at Andaman and Nicobar Islands,
BY AND BETWEEN
________ (Company), with its registered office located at: ________, ________, Andaman and Nicobar Islands, ________, IN (hereinafter referred to as ("First Party") which expression shall unless repugnant to the meaning or context thereof also mean its sister concerns, subsidiaries, its successors and permitted assigns).
AND
________ (Company), with its registered office located at: ________, ________, Andaman and Nicobar Islands, ________, IN (hereinafter referred to as ("Second Party") which expression shall unless repugnant to the meaning or context thereof also mean its sister concerns, subsidiaries, its successors and permitted assigns).
WHEREAS Parties entered into the following agreement: ________ ("Original Agreement") on ________.
WHEREAS this Agreement will be construed as a part of the Original Agreement and will be binding on the Parties.
WHEREAS the Parties agree to resolve any disputes arising out of or in relation to the aforementioned Agreement will be resolved by referring such matter for arbitration.
NOW THEREOF the Parties by their execution of this Agreement accept the terms and conditions of this Agreement.
1. GENERAL TERMS
(a). Any conflict, dispute, or controversy arising from or in relation to the Original Agreement, including but not limited to any dispute concerning the construction, validity, interpretation, enforceability, or breach of the Original Agreement, shall be exclusively resolved by binding arbitration conducted in accordance with this Agreement.
(b). The terms of this Agreement serve as a bar to any suit, action, or proceeding instituted in any other court in respect to the disputes which require being referred to arbitration as per this Agreement.
(c). Upon submission of the conflict, dispute, or controversy to arbitration, the submitting Party shall notify the other Party within ________ (________) days by sending a notice to the address provided under this Agreement.
(d). Nothing contained in this Agreement shall be deemed to give the arbitrators any power, right or authority to change, amend, modify, add, or alter any provisions as provided in the Original Agreement between the Parties.
(e). The arbitration provisions of this Agreement, with respect to controversy or dispute which requires being arbitrated, shall survive the termination/expiration of the ________ dated ________.
2. PROCEDURES
(a). Whenever a dispute arises between the Parties:
(I). The Party who raises the issue ("Claimant") must usually state the facts supporting his/her claim, the points at issue and the relief or remedy sought, and the Party on the opposite side ("Respondent") must state his/her defence in respect of these particulars, and any counterclaim or set-off he/she seeks to claim while filing his/her statement of claim and defence, respectively.
(II). Parties can submit with their statements all documents they consider to be relevant or add a reference to the documents or other evidence they will submit.
(III). Either Party can amend or supplement his/her claim or defence during the course of arbitral proceedings unless the arbitrator considers it inappropriate.
(IV). The Arbitrator must as far as possible, hold oral hearings for the presentation of evidence or for oral argument on a day-to-day basis, not grant any adjournments unless sufficient cause is made out, and can impose costs including exemplary costs on the Party seeking adjournment without any sufficient cause.
(V). The Parties must be given sufficient notice in advance of any hearing and of any meeting of the Arbitrator for the purposes of inspection of documents, goods, or other property.
(VI). If without showing sufficient cause, the Claimant fails to communicate his/her statement of claim, the Arbitrator must terminate the proceedings.
(VII). If without showing sufficient cause, either Claimant or Respondent fails to appear at an oral hearing or to produce documentary evidence, the Arbitrator can continue the proceedings and make the arbitral award on the evidence before it.
(b). The Arbitrator will convince an initial conference to consider preliminary matters in the dispute and give detailed instructions to the Parties of proceedings of arbitration.
(c). Additional conferences may be convened by the Arbitrator if necessary by serving notice to the Parties.
(d). Whenever possible the conference will be conducted through video conferencing. The Arbitrator may at his/her sole discretion require the Parties and/or their counsel to attend the conference in person by serving a notice of reasonable period.
3. LAW AND RULES
(a). The Arbitration and Conciliation Act, 1996 will govern this Agreement.
(b). Any disputes arising out of or in relation to this Agreement will be referred to the DIAC (Delhi International Arbitration Centre) and the rules and regulations of DIAC (Delhi International Arbitration Centre) will be followed.
4. ARBITRATORS
(a). The committee of arbitrators shall consist of ________ arbitrator(s) appointed mutually by the Parties.
(b). The Arbitrator must have the following qualifications to be eligible for appointed as an arbitrator:
________
(c). The arbitrator's decision will be final and binding.
(d). The arbitrator shall issue a written arbitration decision revealing essential findings and conclusions upon which the decision and/or award is based.
(e). Unless the Parties agree otherwise, a replacement arbitrator shall be appointed by the concerned authority in case of the death or resignation of any arbitrator during the course of proceedings.
5. SEAT OF ARBITRATION
The seat of the Arbitration shall be as follows: ________, wherein the venue may be mutually decided upon by either the Parties themselves or the appointed arbitrators.
6. LANGUAGE OF ARBITRATION
The language of the arbitration shall be as follows: ________.
7. AWARD
The Parties agree to abide by any award issued by the arbitrator and the judgement of any court with jurisdiction may be entered on the award.
8. 88855885588 88555
(________). 552 82828 22 252 55882552822 8888 82 82882 82 252 2552828 528288 225258882 5222528225 82 252 5588255225. 552 2552828 8888 82 52822288882 225 25285 282 8828252822 2228. 552 5588255225 252 58555 522 2228 25 82828 22 252 2528588822 25522 25585522 22 5228885882 82525228 25 8582 858 82 252 255885882822.
(________). 888 2552828 588222 22822 525 8282558 5282228888882828 225 252 85882552822 2228. 552585 5 25522 5225582 22 5 2522222 58528225 82 252 8588255225 2522 8588255225 252 5282825 252 25282525822 2522222 2522 252 22525 25522 25 2552828 82 85885 28222 252 252822 25522 25 2552828 85588 5582 5 58252 22 822258522 52825582 2522 252 222-252822 25522 25 2552828.
9. SERVICE AND COMMUNICATIONS
(a). The notice address of the First Party under this Agreement is as follows:
Address: ________, ________, Andaman and Nicobar Islands, ________, IN
Email: ________
(b). The notice address of the Second Party under this Agreement is as follows:
Address: ________, ________, Andaman and Nicobar Islands, ________, IN
Email: ________
(c). Any communication with the Arbitrator shall be copied contemporaneously to the other Party at the address for service nominated in this Agreement.
(d). Each Party to this Agreement shall notify others in writing of any changes in the address or communication details pursuant to entering into this Agreement. If the Party fails to update the changes in writing, any notices or correspondence to the address mentioned above will be treated as valid and binding.
(e). Email and documents in electronic form are preferred unless otherwise directed.
(f). The written notice must specify the claims asserted against the other Party. Notice of any claim sought to be arbitrated must be served within the limitations period under the applicable law.
10. CONFIDENTIALITY
(a). The Parties understand that during the course of any negotiations or discussions undertaken prior to and/or in pursuance of this Agreement, during arbitration proceedings. and the Original Agreement, either Party may become privy and to and/or come into possession of information of proprietary nature (hereinafter referred to as "Receiving Party"), belonging to other Party (hereinafter referred to as "Disclosing Party"). Such proprietary information is herein referred to as "Confidential Information" and shall include information whether written, visual or oral in any other medium, including information, or data disclosed to the Receiving Party by the Disclosing Party or by a third Party on behalf of the Disclosing Party and shall (i) any information having been disclosed prior to the date of this Agreement; (ii) any information relating to the Disclosing Party's business, procedures, products, training modules, processes, plans, know-how, designs, trade secrets, market opportunities, computer programs; (iii) this Agreement or any terms and conditions thereof.
(b). Confidential Information shall not include any information that (i) is or becomes publicly available without breach of the terms of this Agreement; (ii) becomes lawfully available to the Receiving Party from a third Party free from any confidentiality restriction; or (iii) was previously in the possession of the Receiving Party and which was not acquired directly or indirectly from the Disclosing Party, as evidenced by written records.
(c). Receiving Party or any Party to whom it transmits the Confidential Information pursuant to this Agreement may disclose the Confidential Information if it becomes legally compelled to do so under any relevant law, regulation or order of the court, provided the Disclosing Party is given prompt notice of such requirement or such order and (where possible) provided reasonable opportunity to contest it and scope of such disclosure is limited to the extent possible.
(d). The Receiving Party agrees and covenants with the Disclosing Party (i) to maintain confidentiality with respect to the Confidential Information coming into its knowledge and possession before or during the term of this Agreement; (ii) to use the same solely for the purpose as envisaged under this Agreement; (iii) to inform the Disclosing Party of any incident of breach of the Receiving Party's confidentiality obligations under this Agreement within 24 hours from the occurrence of such incident.
11. FORCE MAJEURE
(a). "Force Majeure" means an event beyond the control of the Parties, which prevents a Party from complying with any of its obligations under this Agreement, including but not limited to:
(I). act of God (such as but not limited to, fires, explosions, earthquakes, drought, tidal waves and floods);
(II). war, hostiles, invasion, the act of foreign enemies, requisition or embargo;
(III). rebellion, revolution, insurrection or military power, civil war;
(IV). riot, commotions, strikes;
(V). act or threats of terrorism, and pandemic.
(b). The Parties shall not be liable for any failure to perform their respective obligations under this Agreement if such failure is caused due to a Force Majeure Event and in such case, the obligations of the relevant Party shall be suspended for so long the Force Majeure Event prevails.
(c). Upon the occurrence of a Force Majeure Event, the non-performing Party/affected Party shall immediately inform the other Party of the same and continue to use commercially reasonable efforts to comply with this Agreement whenever and to whatever extent possible without delay.
(d). The Parties shall consult together in relation to the above matters following the occurrence of the Force Majeure Event to mitigate the losses and ensure this Agreement's smooth functioning.
12. MODIFICATION OF AGREEMENT
In the event any provision of this Agreement is determined to be invalid by any court or other entity of competent jurisdiction, the provision of this Agreement shall be deemed to have been amended and the Parties hereto agree to execute all documents necessary to evidence such amendment so as to eliminate or modify any such invalid provision so as to carry out the intent of this Agreement as far as possible and to render this Agreement enforceable in all respects as so modified.
13. NO WAIVER
The failure of any Party hereto to enforce any provision of this Agreement shall in no way be construed to be a waiver of such provisions or to affect the validity of this Agreement or any part thereof or the right of either Party to enforce each and every provision in accordance with its terms.
14. HEADINGS
The headings in this Agreement are included for the convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect.
15. INTERPRETATION
The Parties acknowledge and agree that each Party has reviewed and negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. Accordingly, the rule of construction to the effect that ambiguities are resolved against the drafting Party shall not be employed in the interpretation of this Agreement. Rather, the terms of this Agreement shall be construed fairly as to both Parties and not in favour or against either Party.
16. SURVIVAL OF OBLIGATION
Notwithstanding any other provisions of this Agreement, at termination, expiration or completion of this Agreement, any provisions of this Agreement which would by their nature be expected to survive termination, expiration or completion shall remain in provisions which are explicitly stated to survive termination, expiration or completion shall remain in full force and effect, including but not limited to any provisions which are explicitly stated to survive termination, expiration or completion.
17. COUNTERPARTS
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument.
18. ENTIRE AGREEMENT
Both the Parties represent and agree that they have read this Agreement, understand its terms and the fact that it releases all claims each might have entered into this Agreement without duress or coercion from any source. This Agreement supersedes all other Agreements entered into between the Parties.
19. MISCELLANEOUS
Except as expressly modified herein, the terms of ________ dated ________ remains unchanged and continues in full force and effect.
IN WITNESS WHEREOF, the Parties hereto have executed this agreement on ________.
SIGNED ON BEHALF OF THE FIRST PARTY:
_________________________
Signature
________
Name of authorized signatory: ________ (________)
Date: ________
SIGNED ON BEHALF OF THE SECOND PARTY:
_________________________
Signature
________
Name of authorized person: ________ (________)
Date: ________
The undersigned, being a duly appointed Notary Public, located at ________ on this date, the above-named, appeared before me and properly identified to me and did sign the forgoing.
IN TESTIMONY WHEREOF I subscribe my name and affix my seal notarial on this ___ day of ________ 20___
_______________________
Signature
Notary Public
Address:
ARBITRATION AGREEMENT
This Arbitration Agreement dated ________ ("Effective Date") entered into at Andaman and Nicobar Islands,
BY AND BETWEEN
________ (Company), with its registered office located at: ________, ________, Andaman and Nicobar Islands, ________, IN (hereinafter referred to as ("First Party") which expression shall unless repugnant to the meaning or context thereof also mean its sister concerns, subsidiaries, its successors and permitted assigns).
AND
________ (Company), with its registered office located at: ________, ________, Andaman and Nicobar Islands, ________, IN (hereinafter referred to as ("Second Party") which expression shall unless repugnant to the meaning or context thereof also mean its sister concerns, subsidiaries, its successors and permitted assigns).
WHEREAS Parties entered into the following agreement: ________ ("Original Agreement") on ________.
WHEREAS this Agreement will be construed as a part of the Original Agreement and will be binding on the Parties.
WHEREAS the Parties agree to resolve any disputes arising out of or in relation to the aforementioned Agreement will be resolved by referring such matter for arbitration.
NOW THEREOF the Parties by their execution of this Agreement accept the terms and conditions of this Agreement.
1. GENERAL TERMS
(a). Any conflict, dispute, or controversy arising from or in relation to the Original Agreement, including but not limited to any dispute concerning the construction, validity, interpretation, enforceability, or breach of the Original Agreement, shall be exclusively resolved by binding arbitration conducted in accordance with this Agreement.
(b). The terms of this Agreement serve as a bar to any suit, action, or proceeding instituted in any other court in respect to the disputes which require being referred to arbitration as per this Agreement.
(c). Upon submission of the conflict, dispute, or controversy to arbitration, the submitting Party shall notify the other Party within ________ (________) days by sending a notice to the address provided under this Agreement.
(d). Nothing contained in this Agreement shall be deemed to give the arbitrators any power, right or authority to change, amend, modify, add, or alter any provisions as provided in the Original Agreement between the Parties.
(e). The arbitration provisions of this Agreement, with respect to controversy or dispute which requires being arbitrated, shall survive the termination/expiration of the ________ dated ________.
2. PROCEDURES
(a). Whenever a dispute arises between the Parties:
(I). The Party who raises the issue ("Claimant") must usually state the facts supporting his/her claim, the points at issue and the relief or remedy sought, and the Party on the opposite side ("Respondent") must state his/her defence in respect of these particulars, and any counterclaim or set-off he/she seeks to claim while filing his/her statement of claim and defence, respectively.
(II). Parties can submit with their statements all documents they consider to be relevant or add a reference to the documents or other evidence they will submit.
(III). Either Party can amend or supplement his/her claim or defence during the course of arbitral proceedings unless the arbitrator considers it inappropriate.
(IV). The Arbitrator must as far as possible, hold oral hearings for the presentation of evidence or for oral argument on a day-to-day basis, not grant any adjournments unless sufficient cause is made out, and can impose costs including exemplary costs on the Party seeking adjournment without any sufficient cause.
(V). The Parties must be given sufficient notice in advance of any hearing and of any meeting of the Arbitrator for the purposes of inspection of documents, goods, or other property.
(VI). If without showing sufficient cause, the Claimant fails to communicate his/her statement of claim, the Arbitrator must terminate the proceedings.
(VII). If without showing sufficient cause, either Claimant or Respondent fails to appear at an oral hearing or to produce documentary evidence, the Arbitrator can continue the proceedings and make the arbitral award on the evidence before it.
(b). The Arbitrator will convince an initial conference to consider preliminary matters in the dispute and give detailed instructions to the Parties of proceedings of arbitration.
(c). Additional conferences may be convened by the Arbitrator if necessary by serving notice to the Parties.
(d). Whenever possible the conference will be conducted through video conferencing. The Arbitrator may at his/her sole discretion require the Parties and/or their counsel to attend the conference in person by serving a notice of reasonable period.
3. LAW AND RULES
(a). The Arbitration and Conciliation Act, 1996 will govern this Agreement.
(b). Any disputes arising out of or in relation to this Agreement will be referred to the DIAC (Delhi International Arbitration Centre) and the rules and regulations of DIAC (Delhi International Arbitration Centre) will be followed.
4. ARBITRATORS
(a). The committee of arbitrators shall consist of ________ arbitrator(s) appointed mutually by the Parties.
(b). The Arbitrator must have the following qualifications to be eligible for appointed as an arbitrator:
________
(c). The arbitrator's decision will be final and binding.
(d). The arbitrator shall issue a written arbitration decision revealing essential findings and conclusions upon which the decision and/or award is based.
(e). Unless the Parties agree otherwise, a replacement arbitrator shall be appointed by the concerned authority in case of the death or resignation of any arbitrator during the course of proceedings.
5. SEAT OF ARBITRATION
The seat of the Arbitration shall be as follows: ________, wherein the venue may be mutually decided upon by either the Parties themselves or the appointed arbitrators.
6. LANGUAGE OF ARBITRATION
The language of the arbitration shall be as follows: ________.
7. AWARD
The Parties agree to abide by any award issued by the arbitrator and the judgement of any court with jurisdiction may be entered on the award.
8. 88855885588 88555
(________). 552 82828 22 252 55882552822 8888 82 82882 82 252 2552828 528288 225258882 5222528225 82 252 5588255225. 552 2552828 8888 82 52822288882 225 25285 282 8828252822 2228. 552 5588255225 252 58555 522 2228 25 82828 22 252 2528588822 25522 25585522 22 5228885882 82525228 25 8582 858 82 252 255885882822.
(________). 888 2552828 588222 22822 525 8282558 5282228888882828 225 252 85882552822 2228. 552585 5 25522 5225582 22 5 2522222 58528225 82 252 8588255225 2522 8588255225 252 5282825 252 25282525822 2522222 2522 252 22525 25522 25 2552828 82 85885 28222 252 252822 25522 25 2552828 85588 5582 5 58252 22 822258522 52825582 2522 252 222-252822 25522 25 2552828.
9. SERVICE AND COMMUNICATIONS
(a). The notice address of the First Party under this Agreement is as follows:
Address: ________, ________, Andaman and Nicobar Islands, ________, IN
Email: ________
(b). The notice address of the Second Party under this Agreement is as follows:
Address: ________, ________, Andaman and Nicobar Islands, ________, IN
Email: ________
(c). Any communication with the Arbitrator shall be copied contemporaneously to the other Party at the address for service nominated in this Agreement.
(d). Each Party to this Agreement shall notify others in writing of any changes in the address or communication details pursuant to entering into this Agreement. If the Party fails to update the changes in writing, any notices or correspondence to the address mentioned above will be treated as valid and binding.
(e). Email and documents in electronic form are preferred unless otherwise directed.
(f). The written notice must specify the claims asserted against the other Party. Notice of any claim sought to be arbitrated must be served within the limitations period under the applicable law.
10. CONFIDENTIALITY
(a). The Parties understand that during the course of any negotiations or discussions undertaken prior to and/or in pursuance of this Agreement, during arbitration proceedings. and the Original Agreement, either Party may become privy and to and/or come into possession of information of proprietary nature (hereinafter referred to as "Receiving Party"), belonging to other Party (hereinafter referred to as "Disclosing Party"). Such proprietary information is herein referred to as "Confidential Information" and shall include information whether written, visual or oral in any other medium, including information, or data disclosed to the Receiving Party by the Disclosing Party or by a third Party on behalf of the Disclosing Party and shall (i) any information having been disclosed prior to the date of this Agreement; (ii) any information relating to the Disclosing Party's business, procedures, products, training modules, processes, plans, know-how, designs, trade secrets, market opportunities, computer programs; (iii) this Agreement or any terms and conditions thereof.
(b). Confidential Information shall not include any information that (i) is or becomes publicly available without breach of the terms of this Agreement; (ii) becomes lawfully available to the Receiving Party from a third Party free from any confidentiality restriction; or (iii) was previously in the possession of the Receiving Party and which was not acquired directly or indirectly from the Disclosing Party, as evidenced by written records.
(c). Receiving Party or any Party to whom it transmits the Confidential Information pursuant to this Agreement may disclose the Confidential Information if it becomes legally compelled to do so under any relevant law, regulation or order of the court, provided the Disclosing Party is given prompt notice of such requirement or such order and (where possible) provided reasonable opportunity to contest it and scope of such disclosure is limited to the extent possible.
(d). The Receiving Party agrees and covenants with the Disclosing Party (i) to maintain confidentiality with respect to the Confidential Information coming into its knowledge and possession before or during the term of this Agreement; (ii) to use the same solely for the purpose as envisaged under this Agreement; (iii) to inform the Disclosing Party of any incident of breach of the Receiving Party's confidentiality obligations under this Agreement within 24 hours from the occurrence of such incident.
11. FORCE MAJEURE
(a). "Force Majeure" means an event beyond the control of the Parties, which prevents a Party from complying with any of its obligations under this Agreement, including but not limited to:
(I). act of God (such as but not limited to, fires, explosions, earthquakes, drought, tidal waves and floods);
(II). war, hostiles, invasion, the act of foreign enemies, requisition or embargo;
(III). rebellion, revolution, insurrection or military power, civil war;
(IV). riot, commotions, strikes;
(V). act or threats of terrorism, and pandemic.
(b). The Parties shall not be liable for any failure to perform their respective obligations under this Agreement if such failure is caused due to a Force Majeure Event and in such case, the obligations of the relevant Party shall be suspended for so long the Force Majeure Event prevails.
(c). Upon the occurrence of a Force Majeure Event, the non-performing Party/affected Party shall immediately inform the other Party of the same and continue to use commercially reasonable efforts to comply with this Agreement whenever and to whatever extent possible without delay.
(d). The Parties shall consult together in relation to the above matters following the occurrence of the Force Majeure Event to mitigate the losses and ensure this Agreement's smooth functioning.
12. MODIFICATION OF AGREEMENT
In the event any provision of this Agreement is determined to be invalid by any court or other entity of competent jurisdiction, the provision of this Agreement shall be deemed to have been amended and the Parties hereto agree to execute all documents necessary to evidence such amendment so as to eliminate or modify any such invalid provision so as to carry out the intent of this Agreement as far as possible and to render this Agreement enforceable in all respects as so modified.
13. NO WAIVER
The failure of any Party hereto to enforce any provision of this Agreement shall in no way be construed to be a waiver of such provisions or to affect the validity of this Agreement or any part thereof or the right of either Party to enforce each and every provision in accordance with its terms.
14. HEADINGS
The headings in this Agreement are included for the convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect.
15. INTERPRETATION
The Parties acknowledge and agree that each Party has reviewed and negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. Accordingly, the rule of construction to the effect that ambiguities are resolved against the drafting Party shall not be employed in the interpretation of this Agreement. Rather, the terms of this Agreement shall be construed fairly as to both Parties and not in favour or against either Party.
16. SURVIVAL OF OBLIGATION
Notwithstanding any other provisions of this Agreement, at termination, expiration or completion of this Agreement, any provisions of this Agreement which would by their nature be expected to survive termination, expiration or completion shall remain in provisions which are explicitly stated to survive termination, expiration or completion shall remain in full force and effect, including but not limited to any provisions which are explicitly stated to survive termination, expiration or completion.
17. COUNTERPARTS
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument.
18. ENTIRE AGREEMENT
Both the Parties represent and agree that they have read this Agreement, understand its terms and the fact that it releases all claims each might have entered into this Agreement without duress or coercion from any source. This Agreement supersedes all other Agreements entered into between the Parties.
19. MISCELLANEOUS
Except as expressly modified herein, the terms of ________ dated ________ remains unchanged and continues in full force and effect.
IN WITNESS WHEREOF, the Parties hereto have executed this agreement on ________.
SIGNED ON BEHALF OF THE FIRST PARTY:
_________________________
Signature
________
Name of authorized signatory: ________ (________)
Date: ________
SIGNED ON BEHALF OF THE SECOND PARTY:
_________________________
Signature
________
Name of authorized person: ________ (________)
Date: ________
The undersigned, being a duly appointed Notary Public, located at ________ on this date, the above-named, appeared before me and properly identified to me and did sign the forgoing.
IN TESTIMONY WHEREOF I subscribe my name and affix my seal notarial on this ___ day of ________ 20___
_______________________
Signature
Notary Public
Address:
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