Explain the meaning and function of boilerplate clauses in commercial agreements.

b) Discuss the importance of the following boilerplate clauses which should be incorporated in a

commercial agreement:

(i) Retention of title

(ii) Price variation/escalation

(iii) Interest

(iv) Force majeure

(v) Hardship

(vi) Choice of law and Jurisdiction

(vii) Arbitration

(viii) Assignment and novation

(ix) Waivers

(x) Notices

(xi) Agents for service

(xii) Announcements

(xiii) Agency and partnership

(xiv) Entire agreement