| PLEASE READ THE FOLLOWING TERMS AND CONDITIONS OF USE
AGREEMENT CAREFULLY
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| 1. Any business proposals will not be
disclosed to any third party without the specific knowledge and
permission of both parties, also will respect confidentiality of
Vendor data, as well as pledge not to explore business with these
sources either directly or indirectly now or in future, unless it
is with the permission of Amaltas Int. There will be no direct communications
with Amaltas Supplied vendors , any vendor approach to you will
be reported to Amaltas in writing within 24 hours. Any break in
communication or payment procedures therein will render all business
with you null and void with immediate effect. |
2. Amaltas will respect confidentiality
of customer’s data, as well as pledge not to explore business
with these sources either directly or indirectly now or in future,
unless it is with my permission. |
3. Amaltas will place the orders based
on vendor assessment and previous history of the supplier. However
in case I require that orders be placed with a particular vendor,
then this will be done with the understanding that this buyer stipulated
vendor is unknown to Amaltas. Quality and delivery schedule claims
that may arise in such cases is not the responsibility of Amaltas.
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4. Payments must be discussed prior
to orders being placed, no production will be initiated without
the same being put into place. I will accept and select one from
the following two options for payments. L/C at sight 40% Advance
Payment – balance 3 days before shipment. |
5. Details for orders, prices, and deliveries
will be strictly passed on to suppliers only by Amaltas personnel.
This is to ensure that all specs are met, and the delivery schedule
is realistically put into place. Information provided by vendors
during meetings are to be verified with Amaltas before executing
into purchase orders.
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6. In case there is a problem as below:
- Delivery is not made Customer cancels the orders Customers raises
a claim Vendor's payments are held up Vendor refuses to pay commissions
And other such related cases - |
Amaltas will expect to get full cooperation
from me in resolving these issues, wherein payments pending to be
cleared, or payments to be held until commissions are paid, etc.
Claims that are validated will be arbitrated by Amaltas however
there will be no liability for the same on Amaltas.] |
Amaltas Int. 604 Crystal Paradise, Datta Salve Road, off New
Link Road, Andheri (W)- 400053 Email: info@amaltas.com Tel: 91
22 26733292/3328 Telfax: 91 22 66757848
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All disputes will be resolved in an amicable manner, and may
be put up for arbitration before a mutually agreeable party. Failure
to resolve any dispute renders the above agreement terminated,
However, the conditions of the same will remain binding on both
parties until the next two years of the date of termination. Any
infringement of these terms will be open to penalty to the tune
of the commission amount that would have accrued from such business,
and if necessary legal recourse will be taken. Jurisdiction for
this agreement is under the Indian penal code, admissible in Mumbai.
This agreement and clauses therein may be used as a point of reference
for the same.
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Non disclosure terms: The contractual business and financial
arrangements between the divulging party and others with whom
it has business arrangements of whatever nature;
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1.1.1 all information peculiar to the business of the divulging
party which is not readily available to a competitor of the divulging
party in the ordinary course of business;
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1.1.2 the fact of and content of the discussion between the
parties referred to in 2.1 below as well as the existence and
content of this agreement and any agreement which may be concluded
between the parties pursuant to such discussions and the content
of such agreement;
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1.1.3 all other matters of a confidential nature which relate
to the divulging party’s business;
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1.1.4 generally, information which is disclosed in circumstances
of confidence or would be understood by the parties, exercising
reasonable business judgement, to be confidential
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But does not include information which –
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1.1.5 is or hereafter becomes part of the public domain, otherwise
than as a result of a breach or default of the receiving party
or of a representative or associate of the receiving party;
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1.1.6 can be shown to have been lawfully in the possession of
the receiving party or its associates prior to disclosure and
is not subject to an existing agreement between the parties or
any of its associates;
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1.1.7 is acquired by a party or its associates independently
from a third party who lawfully acquired such information without
restriction and who had not previously obtained the confidential
information directly or indirectly under a confidentiality obligation
from the divulging party or its associates;
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1.1.8 is acquired or developed by a party or its associates
independently of the other party and in circumstances which do
not amount to a breach of the provisions of this agreement;
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1.1.9 is disclosed or released by the receiving party to satisfy
an order of a court of competent jurisdiction or to otherwise
comply with the provisions of any law or regulation in force at
the time or the requirements of any recognised stock exchange;
provided that, in these circumstances, the receiving party shall
advise the divulging party to take whatever steps it deems necessary
to protect its interests in this regard and provided further that
the receiving party will disclose only that portion of the confidential
information which it is legally required to so disclose; and the
receiving party will use its reasonable endeavours to protect
the confidentiality of such information to the widest extent lawfully
possible in the circumstances (and the receiving party shall co-operate
with the divulging party elects to contest any such disclosure);
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1.2 "associate" a holding company and/or a subsidiary of a party
and/or a subsidiary "of" a holding company of a party and/or any
associated company of a party;
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1.3 "divulging party" the party disclosing confidential information
in terms of this agreement;
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1.4 "receiving party" The party receiving confidential information
from the divulging party;
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1.5 "the parties" Amaltas and customer
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2. PREAMBLE
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2.1 AMALTAS and the Customer wish to discuss the possibility
of the supply by Amaltas of certain services, detailed later in
this agreement, which Customer may wish to acquire.
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2.2 The parties anticipate that, in the course of their discussion
and, if an implementation of such agreement, a party may disclose
confidential information to the other party.
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2.3 If the confidential information so disclosed is used by
the receiving party for any purpose other than that for which
its use is authorised in terms of this agreement or is disclosed
or disseminated by the receiving party or another person or entity
which is not a party of this agreement, this may cause the divulging
party to suffer damages and material financial loss.
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2.4 The parties have agreed to enter into this confidentiality
and non-disclosure agreement, in the absence of which neither
party would have disclosed any of its confidential information
to the other.
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3. USE OF CONFIDENTIAL INFORMATION
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Any confidential information disclosed by a divulging party
shall be received and used by the receiving party only for the
limited purpose described in 2.1 above and in terms of any contract
concluded pursuant thereto, and for no other purpose.
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4. NON-DISCLOSURE
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4.1 The receiving party undertakes to the divulging party that
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4.1.1 the receiving party will treat the divulging party’s
confidential information as private and confidential and use the
highest standard of care to safeguard it accordingly;
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4.1.2 the receiving party will not use, whether for its own
benefit or the benefit of anyone else, (except as permitted in
3 above) or disclose or divulge or copy or reproduce or publish
or circulate or reverse or engineer and/or decompile or otherwise
transfer, whether directly or indirectly, the confidential information
of the other party to any other person or entity; and the receiving
party shall take all such steps as may be reasonably necessary
to prevent the divulging party’s confidential information falling
into the hands of unauthorized persons or entities;.
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4.1.3 the receiving party shall not, without the prior written
consent of the divulging party, disclose the confidential information
of the divulging party to any employee, consultant, professional
adviser, supplier or sub-supplier or agent of the receiving party
(collectively referred to herein as “representative”) of the
receiving party or an associate to the receiving party, nor shall
they be given access thereto by the receiving party; -
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4.1.3.1. unless it is strictly necessary for the purpose referred
to in 2.1 and 3 above; and
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4.1.3.2. the receiving party shall have procured that the representative
or associate and/or the associate’s representative to whom or
to which such information is disclosed or made available shall
have agreed, in writing, to be bound by all terms of this agreement,
and the receiving party hereby indemnifies the divulging party
against any loss, harm or damage which the divulging party may
suffer as a result of the unauthorized disclosure of confidential
information by such representative or associate.
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4.2 Any documentation or written record or other material containing
confidential information (in whatsoever form) which comes into
the possession of the receiving party shall itself be deemed to
form part of the confidential information of the divulging party.
The receiving party shall, on request, and in any event if the
discussions referred to in 2.1above should not result in an agreement,
return to the divulging party’s confidential information which
is in physical form (including all copies) and shall destroy any
other records (including, without limitation, those in machine
readable form) as far as they contain the divulging party’s
confidential information.
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5. DURATION
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This agreement shall commence or shall be deemed to have commenced
on the earlier of the date of signature of this agreement by the
last party to sign the agreement or the date on which the discussions
referred to in 2.1 above shall have commenced, if the commencement
of such discussions preceded the date of signature of this agreement
by the last party to sign the agreement, and shall remain in force
indefinitely thereafter (and, in any event, beyond the term of
this agreement).
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6. RELATIONSHIP OF THE PARTIES
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6.1 A party will not be obliged, by reason of this agreement,
to disclose any of its confidential information to the other party
or to enter into any further agreement or business relationship
with the other party.
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6.2 Each party shall retain the sole and exclusive ownership
of intellectual property rights to its respective confidential
information and no licence or any other interest of such confidential
information is granted in terms hereof or by reason of its disclosure.
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6.3 Other than the obligations set out in this agreement, no
legal obligation will arise between the parties until signature
of legal agreements between them in regard to the transaction
envisaged in 2.1 above.
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6.4 The termination of discussions without entering into an
agreement in regard to the transaction envisaged in 2.1 above
shall not release the parties from the obligations set out in
this agreement.
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7. ENFORCEMENT, GOVERNING LAWS AND JURISDICTION
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7.1 This agreement shall be governed by and interpreted according
to the laws of the Indian Jurisdiction. In the event of a conflict
between or inconsistency in the laws applicable in the various
provisions of Indian Penal code shall prevail.
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7.2 The parties irrevocably submit to the non-exclusive jurisdiction
of the High Court of Mumbai, India in respect of any action or
proceeding arising from this agreement.
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7.3 The parties agree that, in the event of a breach of this
agreement, monetary damages would not be an adequate remedy. In
the event of a breach or threatened breach of any provisions of
this agreement by the receiving party, the divulging party (and/or
its relevant associate) shall be entitled to injunctive relief
in any court of competent jurisdiction and the receiving party
shall reimburse the divulging party for any costs, claims, demands
or liabilities arising directly or indirectly out of a breach.
Nothing contained in this agreement shall be construed as prohibiting
a party or its associate from pursuing any other remedies available
to it for a breach or threatened breach.
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8. DOMICILIUM
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8.1 The parties choose as their domicilia the address indicated
in the heading to this agreement for the purposes of giving any
notice, the payment of any sum, the serving of any process and
for any other purpose arising from this agreement.
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8.2 Each of the parties shall be entitled from time to time,
by written notice to the other, to vary its domicilium to any
other address which is not a post office box or poste restante.
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8.3 Any notice required or permitted to be given in terms of
this agreement shall be valid and effective only in writing.
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8.4 Any notice given and any payment made by one party to the
other (“the addressee”) which –
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8.4.1 is delivered by hand during the normal business hours
of the addressee at the addressee’s domicilium for the time
being shall be presumed, until the contrary is proven, to have
been received by the addressee at the time of delivery.
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8.4.2 is posted by prepaid registered post from an address within
the Republic of India to the addressee at the addressee’s domicilium
for the time being shall be presumed, until the contrary is proved,
to have been received by the addressee on the forth day after
the date of posting.
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8.4.3 is transmitted by facsimile to the addressee’s receiving
machine shall be presumed, until contrary proved, to have been
received within one (1) hour of transmission where it is transmitted
during normal business hours or, if transmitted outside normal
business hours, with one (1) hour of the resumption of normal
business hours on the next normal business day.
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9. GENERAL
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9.1 The schedule annexed to this agreement shall be deemed to
be part of this agreement.
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9.2 No party shall be bound by any representation, warranty,
undertaking, promise or the like not recorded in this agreement.
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9.3 No addition to, variation or agreed cancellation of this
agreement shall be of any force or effect unless in writing and
signed by or on behalf of the parties.
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9.4 Any indulgence, which either party may show to the other
in terms of or pursuant to the provisions contained in this agreement,
shall not constitute a waiver of any of the rights of the party,
which granted such indulgence.
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9.5 The parties acknowledge that this agreement and the undertakings
given by it in terms hereof are fair and reasonable in regard
to their nature, extent and period and go no further than is reasonably
necessary to protect their interests of the parties.
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9.6 The parties agree that, if any provision of this agreement
is found by a court to be invalid,
void or unenforceable, the remaining provisions shall remain in
full force and effect.
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9.7 The parties hereby confirm that they have entered into this
agreement with full and clear understanding of the nature, significance
and effect thereof and freely and voluntarily and without duress.
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9.8 Neither party shall have the right to assign or otherwise
transfer any of its rights or obligations under this agreement.
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9.9 This agreement may be executed in several counterparts that
together shall constitute one and the same instrument.
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9.10 In this agreement, clause headings are for convenience
and shall not be used in its interpretation.
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7. Amaltas will place the orders based
on vendor assessment and previous history of the supplier. However
in case you require that orders be placed with a particular vendor,
then the same will be done, however with the understanding that
this buyer stipulated vendor is unknown to Amaltas. The degree of
responsibility for such orders are at 50%. |
8. Payments must be discussed prior
to orders being placed, no production will be initiated without
the same being put into place. There are only two options for payments.
L/C at sight 40% Advance Payment – balance 3 days before
shipment. |
9. Details for orders, prices, and deliveries
will be strictly passed on to suppliers only by Amaltas personnel.
This is to ensure that all specs are met, and the delivery schedule
is realistically put into place. Information provided by vendors
during meetings are to be verified with Amaltas before executing
into purchase orders. |
10. In case there is a problem as below:
- |
| • Delivery is not made • Customer
cancels the orders • Customers raises a claim • Vendor’s payments
are held up • Vendor refuses to pay commissions • And other
such related cases – |
Amaltas will expect to get full cooperation
from you in resolving these issues, wherein payments pending to
be cleared, or payments to be held until commissions are paid, etc.
Claims that are validated will be arbitrated by Amaltas however
there will be no liability for the same on Amaltas |
11. _____________________ will respect
confidentiality of Vendor data, as well as pledge not to explore
business with these sources either directly or indirectly now or
in future, unless it is with the permission of Amaltas Int. All
communications with Amaltas Supplied vendors will be c.c to Amaltas.
Any break in communication or payment procedures therein will render
all business with _____________________ null and void with immediate
effect. |
12. Amaltas will respect confidentiality
of customer’s data, as well as pledge not to explore business
with these sources either directly or indirectly now or in future,
unless it is with the permission of _____________________ |
13. Amaltas will place the orders based
on vendor assessment and previous history of the supplier. However
in case _____________________ requires that orders be placed with
a particular vendor, then the same will be done, however with the
understanding that this buyer stipulated vendor is unknown to Amaltas.
The degree of responsibility for such orders are at 50%. |
14. Payments must be discussed prior
to orders being placed, no production will be initiated without
the same being put into place. There are only two options for payments.
L/C at sight 40% Advance Payment – balance 3 days before shipment.
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15. Details for orders, prices, and
deliveries will be strictly passed on to suppliers only by Amaltas
personnel. This is to ensure that all specs are met, and the delivery
schedule is realistically put into place. Information provided by
vendors during meetings are to be verified with Amaltas before executing
into purchase orders. |
16. In case there is a problem as below:
- |
| • Delivery is not made • Customer
cancels the orders • Customers raises a claim • Vendor’s payments
are held up • Vendor refuses to pay commissions • And other
such related cases – |
Amaltas will expect to get full cooperation
from _____________________ in resolving these issues, wherein payments
pending to be cleared, or payments to be held until commissions
are paid, etc. Claims that are validated will be arbitrated by Amaltas
however there will be no liability for the same on Amaltas. |
Amaltas Int. 604 Crystal Paradise, Datta
Salve Road, off New Link Road, Andheri (W)- 400053 Email: info@amaltas.com
Tel: 91 22 26733292/3328 Telfax: 91 22 66757848 |
All disputes will be resolved in an
amicable manner, and may be put up for arbitration before a mutually
agreeable party. Failure to resolve any dispute renders the above
agreement terminated, However, the conditions of the same will remain
binding on both parties until the next two years of the date of
termination. Any infringement of these terms will be open to penalty
to the tune of the commission amount that would have accrued from
such business, and if necessary legal recourse will be taken. Jurisdiction
for this agreement is under the Indian penal code. This agreement
and clauses therein may be used as a point of reference for the
same. |
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For Amaltas Int. For _____________________
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( Partner) ( Director)
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Witness:
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1. Name: 2. Name
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Signature: Date: Signature: Date:
Place: Mumbai Place :
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