Both the Parties have Agreed as Under :

 

1) That the First Party has agreed to Supply the Free Raw Material for the Converting of Reels to the Second Party and Transportation Charges of Both side will be borne by the First Party.

2) That the Second Party has agreed to deliver the Finished / Prepared Goods (i.e.Reels) to the First Party in Fine / Good Conditions as per given below :      

        a) The Reels with the Mixing Colour shall not be accepted by the First Party and all Pieces to be Same Size / Equal weight as per specifications of the First Party.

        b) The Reels shall be Nice on the Top and in Case of Disbalanced Reels Or Not Equal Reels Or any Complaint shall not be accepted by the first party.

        c) That the All Reels shall be Covered / Packed Lawfully (as per specification) and shall be Packed in a Provided Plastic Bags Properly.

3) That the First party Undertakes to given the Profit / Conversion Charges of Rs.150/- Per Kg. of Finished / Converted Product i.e. 300 mtrs to 600 mtrs Reels to the Second Party and it may be differ time to time and the First party will intimate the Second Party regarding changes in the Sizes of the Reels to match the Market Requirement.  

4) That the Second Party when ready with Prepared/Finished Goods will inform the First Party to depute Distributer / Sales Man to Collect the Finished Goods and Salesmen of the First Party will visit to the Place of Second Party Once on Every Week to Collect the Finished Product and the Distributer / Sales Man of the First party will make Lot wise Payment instantly in Cash only to the Second Party.  

5) That the After Six Months Distributer / Sales Man of the First party will Release the Payment duly deducting Rs. xxxxx/- Per Month (Rs.xxxx/- to be Recovered) towards /Till the last and Final Payment of other / Second Machinery.

6) If the Raw Material Or Prepared Goods will Lost / Destroyed at the place of Second Party, then the Cost of Raw Material will be charged Rs 300/- Per kg from the Second Party which will be adjusted from Deposited Security Money of   Second Party, if required..

7) That the second party will assures the first party, that they will not approach market directly / indirectly after this M.O.U. for selling the Reels / Cones and If the Second Party is found selling the same to any other person, then Second Party shall give total cost of Sold Materials and Rs.5,000/- also as penalty charges to the First Party.

8) That the First Party will dispatch the Machinery (If required by the second party) and Raw Material according the production of Machine after receiving the 75% payment of total amount in advance, and will install the Machine within 03 days after receiving Balance 25% payment of Machinery from the Second Party.

9) That the After Complete the Fitting & Training of the Second Party the First party will dispatch the Raw Material in Advance According the Production of Machine to Ensure Continuous Uninterrupted Production.

10) That the Threads winding Machine Once sold will not be Taken Back or Exchange in any Situations / Conditions as the First Party Purchased the said Machine as their own by giving the order of the same, for the Second Party But the Brand New Machine will have 5 years Warrantee in full and the First Party will Provide Total Support to Ensure the Machine does not disrupt Agreed Production.

11) That During the Warrantee Period, If the Technician is Required by the Second Party any time in Future then the Second Party has to Arrange only Accommodation and Meal / Food to the Technician / Trainer and the Technician / Trainer will Ensure the Peak Production Capacities.

12) That the First party is bound to Supply the Raw Material and to take Finished / Prepared Goods from the Second Party atleast for Continuous Period, till the Expiry of this M.O.U. otherwise will Refund the whole invested Money and the first party is not responsible for any Refund to the Second Party, if the Second Party is not willing to Continue, till the Expiry of this M.O.U.

13) That this M.O.U. is valid for 5 (Five) Years, w.e.f. xx/xx/2018 to xx/xx/2023, the Second Party will inform the First Party before One Month, Expiry of the Agreement.

14) That, if the Second Party will not approach to the first party within one month without any Correspondence / information, then the first Party has right to Cancel the M.O.U. and the Second Party shall have no right to claim anything against the First Party.

15) That any Dispute Arising out of the aforesaid Agreement shall be settled through the Arbitration as per the Provision of Indian Arbitration Reconciliation Act, 1996, the both Parties have the absolute power to appoint the sole Arbitration whose award shall be binding on Both the Parties.