Professional Documents
Culture Documents
ON
XX Project of XX
Between
Royal Orchard (Pvt) Ltd
Plaza # 11, Jinnah Boulevard, Sector A,
Near Gate 1, DHA Phase 1, G.T Road, Islamabad
Tel: 051-111-444-475
WHERAS
Royal Orchard (Pvt) Ltd and INSPUR have entered into this agreement where
Royal Orchardas a business developer is cooperating with INSPUR in relation to
the project named IT Solution, (hereinafter is referred to as IT Solution)
1. Liabilities of
Parties/Areas of Cooperation
2. Exclusivity
and INSPUR shall, during the term of this Agreement, negotiate
exclusively with the other in relation to the matters of the Projects
mentioned by this Agreement
3. Confidentiality
This MOU at all times shall be kept strictly confidential by both parties for the
purpose of the project. This information can only be disclosed to a third party
with a written approval or consent from the other party.
If any party leaked out confidential information of the other partys writing
consent, the affected party shall legally apply for compensation caused by
other party.
This Memorandum of Understanding shall enter into force on the date of its
signing and shall remain in force unless it is revoked by the consent of the
Parties.
Either Party may at any time give written notice to the other Party of its
intention to terminate this Memorandum of Understanding in which case it
shall terminate after such notice has been given in writing.
Termination of this Memorandum of Understanding shall not affect any
ongoing activities initiated under this Memorandum of Understanding but not
5. Amendment
All disputes in connection with this Agreement or the execution hereof shall
be settled through friendly negotiations. Should the parties fail to reach such
amicable settlement of disputes, either party may submit such dispute to the
arbitration. Such dispute shall be governed by and construed in accordance
with HONGKONG law and settled through the arbitration at the Hong Kong
International Arbitration Center (HKIAC). The proceeding shall be conducted
in English. The award of the arbitration of the above Arbitration Institute shall
be final and binding on both parties.
This MOU may be signed in duplicate, and each party will hold one, and shall
enter into force and effect on the date (Effective Date) when it is duly
signed by all the Parties.
8. Miscellaneous
If any provision of this MOU is for any reason found invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
will not affect the validity of any remaining portion, which will remain in
effect as if the invalid portion were never a part of this MOU when it was
executed.
For matters not mentioned herein, both parties shall sign supplemental
contract through negotiation. If such supplementary agreement conflict with
this agreement, the provisions of the supplementary agreement shall prevail.