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What is Contract Modularity and Governance about?

Modularity of contracts refers to dividing a contract into distinct clauses that can be customized independently. The key clauses are: 1) Technical governance - Defines how parties will coordinate actions through routines, centralized authority, or decentralized authority. 2) Enforcement mode - Includes mechanisms like credible commitments, supervision, and external arbitration to ensure parties fulfill obligations. 3) Remuneration and risk sharing - Addresses how quasi-rent will be shared among partie

Author

Ritik Maheshwari

Language

EN