Other information: Overview, definition, and example
What is other information?
Other information refers to any additional data, documents, or materials that a party may be required to provide under an agreement, outside the primary obligations or explicitly listed disclosures. This term is often used to cover supplementary or ancillary details that support the performance of the contract, compliance, or decision-making.
For example, in a loan agreement, other information might include providing updates on financial statements, compliance certifications, or material changes to the borrower’s business operations.
Why is other information important?
Other information is important because it ensures transparency, facilitates informed decision-making, and supports the effective performance of contractual obligations. For businesses, including provisions for sharing other information reduces misunderstandings, maintains trust, and ensures compliance with regulatory or contractual requirements.
By defining what constitutes other information, parties can avoid disputes about the scope and relevance of data that must be shared during the agreement’s term.
Understanding other information through an example
Imagine a supplier agreement where the buyer requests quarterly updates on the production status of goods. These updates, not explicitly covered in the main obligations, fall under the category of other information. The supplier provides these updates to ensure smooth communication and fulfillment of the agreement.
In another example, a lender includes a clause in a loan agreement requiring the borrower to disclose any significant changes to its management team or business operations during the loan term. This disclosure helps the lender assess the borrower’s ongoing risk profile.
An example of an other information clause
Here’s how an other information clause might look in a contract:
“Each Party agrees to provide, upon the reasonable request of the other Party, any additional information necessary to fulfill the obligations and purposes of this Agreement. Such other information shall be accurate, complete, and provided in a timely manner.”
Conclusion
Other information provisions ensure that parties share relevant and necessary data beyond the explicitly stated obligations in a contract. These clauses promote transparency, reduce risks, and facilitate effective performance and compliance.
By including clear provisions for other information in agreements, businesses can enhance communication, prevent disputes, and ensure that all necessary details are available to support the success of the contractual relationship.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.