Expenditure released:

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sophiasophie

Senior Member
Chinese
Hi,

The following appears in a cooperation agreement between two parties (the "partners") under which they agree to undertake some projects jointly:

Costs not to be balanced are:

.......

any other expenditure that is not to be balanced in the sense of subsection (3) and that has not been agreed upon between the partners in advance and has not been released in writing by the other partner in a project.

What does "release" mean here?
 
  • Glenfarclas

    Senior Member
    English (American)
    It's difficult to tell from the sentence fragment you've provided us, but does "the other partner" here refer to the partner that did not make the expenditure?

    Also, what is the normal mechanism provided in this contract for approval of expenditures?

    Third, what is the nationality of the person who drafted this contract?
     
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