CONTRACT AGREEMENT

BETWEEN

SHOA HOMES REAL ESTATE PLC

AND

BRAVE ELECTROMECHANICAL AND CONSULTANCY

PLC

FOR INSTALLATION OF PASSENGER ELEVATORS FOR

YOUR BUILING AROUND LOCATION BOLE BULBULLA

SEPTEMBER,2023
This agreement is made on the 11 SEPTEMBER, 2023 between BRAVE ELECTROMECHANICAL
AND CONSULTANCY PLC (TIN: 0076053489) hereinafter called the Contractor) of the one part and
SHOA HOMES REAL ESTATE PLC (TIN: 0059994481) (Hereinafter called the Employer) of the other
part.

ARTICLE 1

DEFINITION OF TERMS

In this contract unless otherwise stated:

1.1 “Contract" shall mean this contract

1.2 “The Employer" means SHOA HOMES REAL ESTATE PLC, its authorized representative

and assignee (s).

1.3 “The CONTRACTOR" means BRAVE ELECTROMECHANICAL AND CONSULTANCY

PLC, its authorized representative (s) and assignee (s).

1.4 “Contract price means the total price, which is stated in Proforma invoice except including

15% vat Birr 430,000.00 (Four Hundred Thirty Thousand Birr and 00/100 Cent).

1.5 “Days" mean calendar days.

1.6 “Elevator" means Two Simplex Passengers Elevator with a capacity of 11 stops with 630KG.

ARTICLE 2

OBJECTIVE OF CONTRACT

The objective of this contract is for the installation of two simplex passenger Elevator with 11

stops with 630KG of the new building of the Employer around location of Bole bulbulla, Addis

Ababa.
 ARTICLE 3

OBLIGATIONS AND RESPONSIBILITIES OF CONTRACTOR

1. "Contractor" shall install two simplex passenger elevators in the building of the EMPLOYER

at the location of Indicated under ARTICLE 2.

2. "Contractor" agrees to finish installation within 60 working days for each of the elevator from

the Date when advance payment is settled.

3. If the Contractor completes the works as required by the Employer, the Employer shall issue a
certificate of completion within one week from the date of completion.

ARTICLE 4

OBLIGATIONS AND RESPONSIBILITIES OF EMPLOYER

1. "EMPLOYER" agrees to supply two simplex passenger’s elevators including the whole

installation accessories.

2. "EMPLOYER" agrees to effect payment in the following installments.

• 30% of the total price shall be paid as an advance.

• 40% of the total price shall be paid after Completion of motor installation.

 20% of the total price shall be paid after Completion of electrical installation.

 10% of the total price shall be paid after Completion of test and commissioning.

3. "EMPLOYER" shall facilitate unrestricted entry to site for CONTRACTORS authorized

personnel.

4. The "EMPLOYER" shall accomplish "The site absolutes” indicated under the general terms of

technical Specifications before start the installation.

5. Employer shall avail electric power at the start of the installation work and provide the

necessary three Phase main power supply and circuit breaker.

6. Employer shall avail the shaft and site readiness where both parties shall confirm the

readiness of the Shaft.

7. The “CLIENT “shall make available lockable, space for keeping Contractor’s material,

equipment, tools and as changing room, etc.

8. The “CLIENT “shall be responsible for the arrangement of scaffolding, Chiseling and Civil

works.

ARTICLE 5

TERMINATION

"EMPLOYER" may without prejudice to any other remedy for breach of contract, by written

notice of default sent to CONTRACTOR, terminate this contract in whole or in part where

CONTRACTOR fails to achieve completeness of the contract works sufficient for the

requirement of the installation on or before the date stated.

ARTICLE 6

LANGUAGE AND LAW

1. The language of the contract documents shall be English.

2. The Ethiopian Law shall be applicable in all aspects and govern this contract.

ARTICLE 7

FORCE MAJEURE

1. The relevant provision of the Ethiopian Civil Code relating to Force Majeure shall apply to

this contract.

2. Each party shall notify the occurrence of Force Majeure within five days of its occurrence.

ARTICLE 8

SETTLEMENT OF DISPUTES
Both parties shall settle dispute that may arise between EMPLOYER and CONTRACTOR

regarding the execution of this contract amicably. If dispute cannot be settled amicably within

30 days of its occurrence, it shall be submitted to the court of appropriate jurisdiction in

Ethiopia.

ARTICLE 9

EFFECTIVE DATE

This contract shall have a binding effect on both parties as of the date of signature, by duly

authorized representation of the parties.

IN WITNESS, hereof the authorized representatives of the parties here to have signed the

contract on the day and year written under.

FOR EMPLOYER FOR CONTRACTOR

Name: .............................................. Name: ...........................................

Date: ................................................. Date: ..............................................

Signature: ......................................... Signature: ......................................