A labour market development contract is a contract which is signed between two bodies or entities to work on the development of the labour market of a particular area or section. Such contracts are formal in nature and are enforceable under law.
Sample labour market development contract:
Contract number: 345-k
Effective date of contract: 1st July, 2011
This contract has been entered into and among the British Government and the provinces of New Southall. This contract is in association with the aim of helping unemployed people find jobs and become independent.
Details of GOVERNMENT:
Representative name: Mr. John Gates
Details of PROVINCE
Representative name: Mr. Gordon Hackel
This contract has certain terms and conditions which are expected to be obliged by each of the parties. The following are those terms and conditions:
- Payment Specifications
The GOVERNMENT shall pay the PROVINCE and amount of $300000 in order to develop, design and deliver management and employment programs all across the area of the province.
This amount shall be valid throughout the contract period.
- Termination of contract:
This contract shall be valid till 1st January, 2012 and has a span of 6 months in all
This contract shall terminate in case of any misconduct or late payment from the GOVERNMENT’S side and also in the case when the PROVINCE doesnt manage to generate enough jobs.
- Both the parties must work honestly towards the cause and should be able to generate enough jobs for each unemployed person who is willing to work.
Signatures of the representatives:
John Gates Gordon Hackel