The following outlines the standard terms and conditions of engagement that apply to all NZIER contract research unless other terms are agreed before the work starts between NZIER and the client.
Confidentiality: NZIER undertakes to accord the research the degree of confidentiality required by the client. If the client makes a public statement based on but contradictory to the research findings NZIER reserves the right to advise all parties of the actual report content and findings.
Intellectual Property: All rights to the intellectual property developed in the course of providing the services under this Agreement and all data and factual information that NZIER collects and for which the client has paid, will belong to the client.
Disclaimer: While NZIER will use the highest professional standards of analysis and all reasonable endeavours in undertaking the work and producing the report to ensure the information is as accurate as practicable, the Institute, its contributors, employees, and Board shall not be liable (whether in contract, tort (including negligence), equity or on any other basis) for any loss or damage sustained by any person relying on the work whatever the cause of such loss or damage.
Liability: In the event that the exclusion of NZIER’s liability set out above is held inapplicable or unenforceable, NZIER’s liability under or in connection with, or arising out of any use, reproduction or modification of the work (by the client of any other person) is limited to the contract fee paid by the client for the work.
Terms of Payment: Payment is required on all invoices in full and within 14 days of the invoice date. All fees and other costs will be stated as net of GST. All fees and costs are payable in New Zealand dollars unless agreed otherwise by NZIER.
Timing of Payments: For jobs with a value of $15,000 (net of GST) or more, the client agrees 25% of the full contract fee shall be due on the signing of this Agreement. This will be invoiced by NZIER.
Penalty Interest: NZIER reserves the right to charge penalty interest on overdue amounts to reflect the cost of late payments to NZIER. Interest will be calculated from the day after payment was due until the day payment is made at the current 3 month deposit rate offered by the National Bank.
Arbitration: If there is a dispute between NZIER and the client in relation to this Agreement, or any other matter arising from it, the Parties will in good faith in the first instance use their best endeavours to resolve the dispute themselves. If they cannot resolve it then they agree to explore whether it can be resolved by an alternative resolution technique. If the dispute still remains unresolved both parties agree to refer the matter to arbitration by a sole arbitrator under the provisions of the Arbitration Act 1996.
Legal basis for Agreement: This agreement is governed by New Zealand Law, and the New Zealand courts have jurisdiction in respect of this Agreement.
The Client engages NZIER to provide the services described and NZIER agrees to perform the services for the fee and any extra costs identified above. Both parties agree to be bound by the provisions of this agreement and any special terms noted. Once signed this Agreement will replace all or any oral agreements previously reached between the parties.