parties' obligations

Parties' obligations refer to the responsibilities each must fulfill as agreed in their contract or agreement. These obligations define what actions or services each party is expected to deliver, such as paying money, providing goods or services, or adhering to certain standards or deadlines. Fulfilling these duties ensures trust and smooth functioning of the relationship. If one party fails to meet their obligations, it can lead to remedies or legal action. Overall, obligations are the commitments that create mutual accountability and help achieve the purpose of the agreement.