Hello,
I am writing behalf of Bandana Infotech, Kolkata. We made a business agreement with Logacia Craetion India (http://www.logicalcreationindia.com). For providing Business deals with a yearly agreement of 25, 000 INR. In the agreement they mentioned if they unable to provide deals then they refund us our agreement deposit money worth 25, 000 INR after first 3 months. They provide us a PDC also but the cheque is bounced back due to insufficient funds...
For details of the agreement paper please see the attachment document...
MOU DETAILS
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TERMS OF THE MEMORANDUM OF UNDERSTANDING ARE AS GIVEN HEREUNDER
1. The parties acknowledge that the purpose of the relationship created herein shall be an independent Contractor relationship only and that none of the parties shall act as or, in any event, be deemed to be an Agent or employee of the other for any purpose.
2. The terms "the First Party" and "the Second Party" wherever the context so admit or permit shall mean and include themselves, their respective successors in interest and assigns.
3. This Memorandum of Understanding shall be for a perpetual term and shall not terminate until and unless either party terminates this Memorandum of Understanding by issuing to the other party a 30 day written notice stating its intention to terminate the Memorandum of Understanding. Any campaign in progress will continue to be in progress at the discretion of the first party. The second party will pay commission to first party on such campaign as per this agreement.
4. Whereas the First Party’s client plans to run various campaigns at the center provided by the Second Party, the First Party has approached the Second Party to run the campaign.
5. And whereas the Second Party is engaged in various BPO and KPO activities which the First Party will use.
6. The First Party’s client or the first party directly will issue with all the terms, conditions, guidelines, scripts, marketing material, work instructions etc., and provide it to the second party.
7. The Second Party agrees that all copy rights, trademarks; products belong to their respective owners.
8. The First Party’s client or the First Party will enter into an agreement with Second Party for each campaign that the First Party refers to the Second Party.
9. Financial arrangements will be agreed upon in a separate Financial Addendum, on project basis, which shall be added to this agreement.
10. Second Party will have direct contact with the client and provide itself negotiation since First Party is only referring the client information and has previously agreed to send any call center his way to discuss about the process, legal’s, and negotiation between the client and Second Party. The Second Party shall make the verification of the client before accepting any assignment. The Second Party shall take the responsibility of the verification of the clients referred by the consultant.
11. Second Party will negotiate with the client for terms and conditions, and if terms are not agreeable, the company has the right not to accept such contract, in which case this agreement will be null void.
12. The Second Party agrees not to bypass the First Party, and also agrees not to circumvent or approach the end client or agent First Party introduces it to, for business. This clause is effective during first 12 months from the date of termination of the agreement. Should the Second Party be found guilty of circumventing the First Party, they shall pay a damage of $30, 000.
13. The second party agrees to indemnify the first party for any consequences arising out of any violations by the Second Party of any work instructions, guidelines issued to it by the First Party.
14. The courts in the city of Bangalore shall have jurisdiction to try any matter of dispute in relation to this agreement In Witness whereof, the Parties hereto have signed this deed of Memorandum of Understanding on the day, month and year first above written in the presence of the following witnesses.
FIRST PARTY: SECOND PARTY
2nd Party:
Addendum
1. The Second Party will pay the First Party a Royalty fee of 25% of every billing for the lifetime of the Project and another 10% to the referring consultant. TDS and EC will be deducted at the rating rules and Certificate will be issued.
2. Fees will be paid only on net value of the invoice (that is after deducting the service tax)
3. Fees will be paid by Via DD payable at the respective locations of each party (first party and `referring consultant) or Bank Transfer ONLY and within 24 hours of receiving payment from end client.
4. If Company extends to not pay fees within 3 days after receiving payment from client they will be a charge of 1% extra per day for obstructing the commitment.
5. The first centre will refer the clients or any reference centre to the company and if the company wishes to take other assignments from the client/s which is/are referred by the first party; in that case the second party should take the same through the first party.
6. Company starts with 500 seats and is responsible to pay the royalty earned for the same and also for all the new seats added in future.
7. The Second Party should not directly approach to the clients or the referring consultant for assignment or will have to pay damages worth 67 lakhs to First Party
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T & R,
Bandana Infotech
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