mou
DESCRIPTION
MOU for consultantsTRANSCRIPT
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MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding is being made this 12th day of June, 2014 by and
Consultant ........................................................................................................
............................................................................................................................................
..................................., Hyderabad City & district. (hereinafter addressed to as
"Consultant") and M/s. SAI ANUSHA CONSTRUCTIONS, represented by its Managing
Partner, Sri. Yaralgadda Venkata Sudhakar, S/o. Sri. Y. Gopala Krishnaiah, aged 50
years, Occupation: Business, R/o. Flat. No. G - 2, Plot No. 45 & 46, Venkata Sai
Enclave, Eshwar Villas Road, Nizampet, Hyderabad (hereinafter addressed to as the
"Company").
Company hereby proposes the consultant to perform the following services in
accordance with the terms and conditions set forth in this Memorandum of
Understanding.
Consultant would provide the requisite financial resources for the development of the
business affairs of the company.
TERMS OF MEMORANDUM OF UNDERSTANDING.
1. This Memorandum of Understanding will begin and will end on mutually
consented terms. Either party may cancel this Memorandum of Understanding on
thirty (10) days notice to the other party in writing, by certified mail or personal
delivery.
2. Consultant would provide financial resources for the development of the
Company, on legally valid collateral security given by the company.
3. The property to be securitized hereunder shall be conveyed by the standard legal
documentation duly executed by the Company.
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4. Company promises and agrees to convey good, clear, and marketable title to all
the property to be securitized hereunder, the same to be free and clear of all
liens and encumbrances.
5. Consummation of the contract would be with payment by the Financier of the
mutually consented loan payment, and the delivery of the proposed property by
the Company with legally valid requisite documentation.
PLACE WHERE SERVICES WILL BE RENDERED.
Consultant will perform services in accordance with this contract at a location of
consultant's discretion. In addition the consultant will perform services being a
telecommuter and at such other places as necessary to perform these services in
accordance with this Memorandum of Understanding.
PAYMENT TO CONSULTANT.
Consultant will be paid at the rate of…………………… for work performed in
accordance with this Memorandum of Understanding. The consultant will submit an
itemized statement setting forth the time spent and services rendered, and the company
will pay the consultant the amounts due as indicated by statements submitted by the
consultant after the receipt of statement.
INDEPENDENT PROFESSIONAL.
Both the company and the consultant agree that the consultant will act as an
independent professional in the performance of duties under this contract. Accordingly,
the company shall be responsible for payment of all taxes arising out of the consultant's
activities in accordance with this contract, as required.
CONFIDENTIAL INFORMATION.
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Consultant agrees that any information received by the consultant during any
furtherance of the consultant's obligations in accordance with this contract, which
concerns the personal, financial or other affairs of the company will be treated by the
consultant in full confidence and will not be revealed to any other persons, firms or
organizations.
EMPLOYMENT OF OTHERS.
Consultant may from time to time request the company to arrange for the requisite
services of others. All costs to the consultant for those services will be paid by the
company but in no event shall the consultant employ others without the prior
authorization of the company.
TERMINATION
1. To terminate this contract, Company should send the consultant a written notice
stating that Company is canceling the contract. Mail the notice by state postage /
mail with the correct postage, and send it to us at our address (see Part V
below). Cancellation would take effect from / on the date of receipt ofthe notice.
Company can also cancel this contract by delivering a written notice of
cancellation to our address, in person.
2. If Company cancels the contract for its own reasons, Consultant would not refund
any fees which Company has paid. Consultant would charge the Company for
the services as if the Consultant has actually, necessarily and reasonably
performed on Company’s behalf, as per the contract. Consultant would retain all
the charges for services performed during the period Company knew that
Consultant would perform those services and as Company have agreed in this
contract that Consultant would perform them.
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3. Company may cancel this contract at any time if Consultant fails to provide the
services or to give a copy of this Memorandum of Understanding before
providing services to the Company. Company may cancel this contract at any
time if Company has a relevant legal cause regarding the consultant. If Company
cancels this contract for any of these reasons, Consultant would refund in full any
fees which Company has paid.
ADVOCATES'S FEES AND COSTS
In the event of suit or damages arising from this contract or to enforce any of its
provisions, the court may award the prevailing party their advocate’s fees and costs.
THIS CONTRACT IS NOT VALID OR BINDING UNTIL THE LEGAL DOCUMENT HAS
BEEN GIVEN TO ALL THE PARTIES TO THIS CONTRACT A FULLY EXECUTED
COPY OF IT, INCLUDING AN ACCURATE TRANSLATION OF IT IN ANY LANGUAGE
OTHER THAN ENGLISH THAT THE PARTIES TO THIS CONTRACT UNDERSTAND
AND THAT WAS PRINCIPALLY USED IN ANY ORAL BUSINESS PRESENTATION
OR NEGOTIATION LEADING TO EXECUTION OF THE MEMORANDUM OF
UNDERSTANDING / CONTRACT.
CONS ULTANT COMPANY