Both the parties have agreed as under :
1) That the First Party has agreed to supply the Free Raw material for the making of Paper Plates 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 Paper Plates ) to the First Party in Fine / Good Conditions as per given below :
A) The Paper Plates with the Mixing different Size's shall not be accepted and all Pieces shall be Same Size as per specifications of the First Party.
B) The Paper Plates shall be Nice and in Case of out of size Paper Plates Or any Complaint shall not be accepted by the First Party.
C) That the each Bunch of Paper Plates (as per specification) shall be Packed Lawfully with the Provided Polythin Bags Properly.
3) That the First party undertakes to given the Profit / Conversion charges (as per given below) of Prepared Paper Plates to the Second party and it may be differ time to time.
A) Rs. 200/- per 1000 Pieces of 4” (inches)
B) Rs. 350/- per 1000 Pieces of 6” (inches)
C) Rs. 450/- per 1000 Pieces of 8” (inches)
D) Rs. 550/- per 1000 Pieces of 10” – 12” and 14” (inches)
4) The First party will intimate the Second Party regarding changes in the Sizes of the Paper Plate to match the Market Requirements and shall arrange for New Dies time to time.
5) That the Second party when ready with Prepared Paper Plates 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.
6) If the Raw Material or prepared paper plates will Lost / Destroyed at the place of Second Party, then the Cost of Raw Material will be charged Rs 80/- Per kg from the Second Party.
7) That the second party will assures the first party, that they will not approach Market directly / indirectly after / during the period of this M.O.U. for selling the Paper Plates 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. 10,000/- also as penalty charges to the first party.
8) That the First party will dispatch the Raw Material in Advance According the Production of Machine to Ensure Continuous Uninterrupted Production.
9) That the First party is Bound to Supply the Raw Material and to take Finished / Prepared Goods from the Second Party at least 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.
10) That this M.O.U. is valid for 05 ( Five ) Years, w.e.f. xx/xx/2021 to xx/xx/2025, the Second Party will inform the First Party before one Month, Expiry of the Agreement.
11) That 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. for any reason.
12) That the second party assures to the first party that he will only contact / correspondence to the first party regarding Raw Material / Payment and any Dispute etc.
13) 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.
14) That in case any Dispute Arising out of this Agreement ( related to Raw Material, Payments and Cheques ) shall be subject to the jurisdiction of the court of Delhi only.
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.
