Some clauses could be removed as they are superfluous. (9 and 10 [any abuse leads to consequence, kinda redundant]).
Also, it could motivate some bounty posters to hire only a select amount of mercs for blanket bounties. Instead of letting every single merc in the galaxy take on the targets.
This proposal is quite good. Though, a little bit of polishing is still needed. Nothing major though.
And thanks for presenting this to us before implementation. Kinda gives time to prepare ourselves mentally.