Question: provide revisions and improvements for this contract: Contract Between: ABC Medical Center (Healthcare Organization) XYZ MedTech Solutions (Equipment Supplier) 1. Scope of Agreement: XYZ MedTech
provide revisions and improvements for this contract: Contract Between: ABC Medical Center (Healthcare Organization) XYZ MedTech Solutions (Equipment Supplier) 1. Scope of Agreement: XYZ MedTech Solutions agrees to supply 50 MRI machines, handle delivery, installation, and provide training for ABC Medical Center staff. The contract includes a 2-year maintenance service plan for the machines. 2. Payment Terms: The total cost is $5 million, payable as follows: 40% ($2 million) upon contract signing. 40% ($2 million) upon delivery. 20% ($1 million) upon final installation and acceptance. Late payments will incur a 2% penalty per month on the outstanding balance. 3. Warranty and Maintenance: A 5-year warranty covers manufacturer defects. XYZ MedTech Solutions will provide repairs during the first 2 years as part of the maintenance plan. The warranty excludes damages due to misuse by hospital staff. 4. Termination Clause: Either party may terminate the contract with a 60-day notice for breach of terms. If ABC Medical Center terminates without cause before delivery, the 1st installment is non-refundable. 5. Dispute Resolution: Any disputes will be resolved through arbitration
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