What does it mean by counterparts?
Counterpart is a copy or duplicate of a legal instrument. Where an instrument, especially a contract, is signed by the parties on different copies, one of the copies is the original while the others are counterparts.
What is an example of a counterpart?
The definition of a counterpart is someone or something that is the equivalent to, or has the same features, functions and/or characteristics as someone or something else. An example of counterpart is when you fill the same role at your office as someone in a different branch office.
Can people be counterparts?
Someone’s or something’s counterpart is another person or thing that has a similar function or position in a different place. The female reporters were paid less than their male counterparts.
What is a counterpart on a team?
If you play soccer, your counterpart is the player on the other team who plays the same position. Definitions of counterpart. a person or thing having the same function or characteristics as another. synonyms: opposite number, vis-a-vis. types: match.
How do you run a counterpart?
A way of executing a document that is intended to have legal effect between two or more parties, which involves each party signing their own separate copy of the document and then exchanging their signed copy for the copy that has been signed by the other party.
Where can we use counterpart?
Someone’s or something’s counterpart is another person or thing that has a similar function or position in a different place. The Foreign Secretary telephoned his Italian counterpart to protest. The Finnish organization was very different from that of its counterparts in the rest of the Nordic region.
What is the opposite of a counterpart?
Antonyms. unequal disagree differ disjoin unbalance. twin duplication duplicate.
What is counterpart sentence?
Definition of Counterpart. an object or person that is comparable to another. Examples of Counterpart in a sentence. 1. The president met with his Canadian counterpart to talk about a trade treaty.
What is execute in counterparts?
Related Content. A way of executing a document that is intended to have legal effect between two or more parties, which involves each party signing their own separate copy of the document and then exchanging their signed copy for the copy that has been signed by the other party.
What is a counterpart clause?
A counterparts clause states that the parties signing the agreement don’t all need to sign the same copy. Any copy of the agreement may be treated as an original.
How do you use the word counterpart?
How to use Counterpart in a sentence
- The active contraction of muscular tissue has no counterpart in the plant.
- She grabbed the moisturizer and its cleansing counterpart and eye moisturizer.
- Thus an organ newly discovered in Scorpio was found to have its counterpart in Limulus.
What is the synonym of counterparts?
equivalent, opposite number, peer, equal, parallel, complement, match, twin, mate, fellow, brother, sister, analogue, correlative.
Why do you want a counterparts clause?
To sign a contract in counterparts means that each party to the contract will be signing different, but identical, copies of the contract. The purpose of a counterpart clause of a contract is to expressly allow for the parties to the contract to sign in counterparts — that is, to sign different copies of the contract.
What is opposite of counterpart?
Antonyms. juvenile misconstruction mismatched natural object different dissimilarity dissimilitude.
Is a counterparts clause required?
However, exchange of counterparts, whether there is a counterparts clause or not, will normally be enough to form a contract given that exchange generally constitutes acceptance. 2 Therefore, the inclusion of a counterparts clause is not strictly necessary.
What is a counterpart?
English Language Learners Definition of counterpart : someone or something that has the same job or purpose as another : a person or thing that is very like or equivalent to another person or thing : one of two corresponding or duplicate copies of a legal instrument
Do we know who the counterparty is on a trade?
In fact, with typical exchange trading, we do not ever know who our counterparty is on any trade, and often times there will be several counterparties each making up a piece of the trade. A counterparty is simply the other side of a trade – a buyer is the counterparty to a seller.
Who is the counterparty in a general contract?
In any instances where a general contract is met or an exchange agreement takes place, one party would be considered the counterparty, or the parties are counterparties to each other. This also applies to forward contracts and other contract types. A counterparty introduces counterparty risk into the equation.
Who are the counterparties in the bond market?
In terms of financial markets, the bond seller and bond buyer are counterparties. In certain situations, multiple counterparties may exist as a transaction progresses. Each exchange of funds, goods or services in order to complete a transaction can be considered as a series of counterparties.