THE REPUBLIC OF UGANDA

THE CONTRACTS ACT No. 7 OF 2010

MEMORANDUM OF UNDERSTANDING

BETWEEN

GIRL CHILD CHARACTER SAVING AND

INVESTMENT INITIATIVE (“the Scheme”)

AND

[….insert name….]
(“the Partner”)

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THIS AGREEMENT made this ………………day of ……………………… 2020

BETWEEN

GIRL CHILD CHARACTER SAVING AND INVESTMENT

INITIATIVE of P.O. Box ……….,, Kampala-Uganda (hereinafter referred to as “the
Scheme”) of the one part;
AND

[….insert name of Partner….] P. O Box ……….., Kampala (herein after referred to as

“the Partner”) of the other part;

Collectively referred to as the “Parties”

RECITALS

WHEREAS;
a) The Scheme is an Investment Initiative project intended to end poverty
amongst communities in Uganda, which will partner with organised
groups of people, to train and support them for development wherever
they are located. It is an project under the Girl Child Character organisation;
b) The Scheme will set up income generating activities to generate enough
resources to empower as many people as possible;
c) The Partner is agreeable to contributing to the scheme by investing its money
through the Scheme;

NOW THEREFORE the parties hereto HEREBY AGREE as follows:

1. REGISTRATION OF THE PARTNER:

The Partner shall make sure that it submits a list of all members to the Scheme for
purposes of registration of the Partner as a contributor. Upon registration, the
Partner shall be given an account number on which all the transactions and those
of members shall be conducted.

2. CONTRIBUTIONS TO THE SCHEME:

The Partner shall make a minimum periodic contribution to the account which
will be reinvested by the Scheme to realize profit.

3. OPERATION AND WITHDRAW OF FUNDS FROM THE ACCOUNT

3.1 During the first year of the Partner’s membership, all the contributions from the
partner will be recorded well on the Partner’s account.
3.2 After a year, the Partner is entitled and may access the funds held by the Scheme
subject to the terms as may be set by the Scheme.

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3.3 An individual member of the Partner may be allowed to borrow in his/her
individual capacity. However, no member shall be allowed to borrow unless he or
she is seconded or otherwise supported by the Partner.
3.4 Where an individual, supported of seconded by the Partner borrows money in
accordance with the foregoing clause, the Scheme shall charge an interest not
exceeding 1% for the period as may be agreed by the Scheme. Where the
individual fails to pay, the loan will attract an interest rate of 10% as if he or she
was not a member of the Partner.

4. INVESTMENT AND INTEREST

4.1 The Scheme shall be responsible for reinvesting the funds received from the
Partner as it deems fit and for the best interest of the Scheme and the Partner.
4.2 Any monies under the Scheme shall be used towards fulfilling the Scheme’s
mission.

5. EMERGENCY AND RELIEF CONTRIBUTION

The individual members of the Partner shall contribute a fee of UGX 2000 in case
a situation arises that affects any member of the partner of other Partners of the
Organization.

6. DISPUTE RESOLUTION
6.1 The Parties hereby agree to use every effort and endeavor to amicably settle any
dispute, claim, controversy, disagreement and/or difference of whatever nature
(‘Dispute’) arising out of, or in connection with this Agreement or relating to the
legality, interpretation, performance, breach, termination, rescission, frustration,
validity, or enforceability thereof. To this end, the disputing Parties shall each
promptly appoint representatives who shall meet and attempt to amicably resolve
any dispute arising between them.
6.2 In the event that an amicable settlement has not been reached within thirty (30)
working days after the Parties’ representatives meeting pursuant to the foregoing
clause, the Parties hereby agree to refer such Dispute for settlement in accordance
with the Arbitration and Conciliation Act, as Amended from time to time.

7. TERMINATION

7.1 This Agreement may be terminated, At any time by mutual written agreement by
either party giving the other at least 30 days prior written notice. On the expiry of
the period this Agreement shall terminate but without prejudice to the accrued
rights of the parties hereto;
 
8. MISCELLANEOUS.

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 a) Notices - Any and all notices or other communications required or permitted by
this Agreement or by law to be served on or given to either the Scheme or the
Partner by the other party shall be in writing and shall be deemed duly served and
given when delivered to the party to whom it is directed.

b) Interpretation and Governing Law - This Agreement shall not be construed

against the Party hereto who prepared it, but shall be construed as though
prepared by both Parties. This Agreement has been made and entered into and
shall be construed, interpreted and governed by the laws of the Republic of
Uganda.

c) Assignment - This Agreement shall be assignable or transferable (and the

performance of any obligations hereunder subcontracted) by either Party with the
prior written consent of the other but no such attempted assignment shall relieve
the assignor of any of its obligations hereunder without the written consent of the
other Party.

d) Entire Agreement - This Agreement contains the entire Agreement between the
Parties hereto and supersedes all prior oral and written agreements and statements
between the Parties hereto with respect to the subject matter hereof.

e) Force Majeure – The Parties shall not be liable for failure of performance of any
obligations stated herein if the failure arises from causes beyond the control and
without the fault or negligence of the liable party. In the event that the force
majeure persists for a continuous period of 30 days, either Party may immediately
terminate the Agreement.

IN WITNESS WHEREOF, the undersigned have executed this instrument as of the date
first written above.

THE SCHEME:
The Common Seal/Stamp of
SCHEME was affixed hereto in the presence of its authorized Principal Officer(s)

Name: ______________________________

Signature: ______________________________

In the presence of

Name: ______________________________

Signature: ______________________________

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PARTNER

Name: ______________________________

Signature: ______________________________

In the presence of

Name: ______________________________

Signature: ______________________________