agreement of financial assistance (internatinal moun group inc.)abdull jubbar ismail draft

8/3/2019 Agreement of Financial Assistance (Internatinal Moun Group Inc.)Abdull Jubbar Ismail Draft

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AGREEMENT OF FINANCIAL PARTNERSHIPS

AGREEMENT REFERENCE: ______/ ___/ ____

This Agreement is m ade on this____ of___________2010 by between:

M/ S. ______________________________A corporation registered under theAddressed at :______________________________________________________________________________. Dully represented by Mr. ______________________the _______________ who acts on behalf of the Company, with full power tounderwrite this contract, hereinafter referredto as PARTY I

AND

Mr.___________________________, an entrepreneur based in _______,________________, acts on own behalf. Who acts as authorized signatory with fullpowers to underwrite this contract, hereinafter referred to as PARTY II

THE PARTIES DECLARE THEIR INTENTION TO CONCLUDE THE PRESENTAGREEMENT AND IT S HEREBY AGREED AS FOLLOWS:

1. The PARTY Iis Ready, Willing and able to provide cash funds hereinafterreferred as FUNDS for a face value of000 ,000,000.00 US Dollar.(____________ Million US Dollar) The Funds are free and clear of any liens orencumbrances legally earned for INVESTMENT in the MIDDLE EAST to benefitboth parties.

2. The PARTY IIis Ready, Willing and able to accept the Cash FUNDSprovided by PARTY Ifor investment in real estate and developmentprojects in the GCC States out of which PARTY Iand PARTY IIwill

both benefit from the profits derived from the Transaction. PARTY IIFurther guarantees that the subject FUNDS shall be use for the purposeintended and the investments shall be legal.

Now , therefore in consideration of the mutual convents, undertakings andagreements the Parties agree as follows:

3. PARTY I Obligations:

1. The PARTY Iis fully and legally responsible for providing theCASH FUNDS.


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4. PARTY II Obligations:

2. The PARTY IIis obliged directly or through its organizationto provide the necessary security and guarantees for the FUNDS

entrusted to them by PARTY Iand shall be responsible forthe safe keeping, transportation and utilized such FUNDS as perthe terms and conditions of this agreement.

3. The PARTY IIwill put into effect the obligations stipulated tosatisfy PARTY I.

5. PARTY I and PARTY II Obligations:

Release of Debts

4. No PARTYshall compound, release, or discharge any debt thatshall be due or owing to the partnership, without receiving thefull amount of the debt, unless that partner obtains the priorwritten consent of the other partners to the discharge of theindebtedness.

Covenant against Reveali ng Trade Secrets

5. No PARTYshall be terminated during the continuance of thepartnership or for FIVE (5) years after it is termination, by anymeans divulge to any person not a member of the firm anytrade secret, special information employed in or conducive tothe partnership business and which may come to the partnersknowledge in the course of this partnership without the consentin writing of the other partners, or of the other partners heirs,administrators, or assign

6. Both PARTIES can renew the agreement for the same periodfor FIVE(5) years

6. Payment of Fees

7. PARTY IIshall be obliged to meet the fee payments as perpre-arranged agreements.

8. Each PARTYobliged to pay the Insurance Company of _._%(One point Two Percent) of the total amount of the Capital.

9.

PARTY IIshall be obliged to meet the fee payment asIrrevocable Fee Protection for the Broker.


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10.Both PARTIES agreed to distribute the investment net profit as80% (Eighty Percent) for Party One, 20% (Twenty Percent)for Party Two and 2% (Two Percent) for Broker that will be

deducted to the Party Two given after the deal was settled.

7. Duration and Validity of the Agreement and other Terms:

I. This Agreements shall be in place and valid for a period ofFIVE(5) YEARS from the date signing it, and in any case it willterminate in Six (6) Months after the maturity time frame of theprojects, distribution of funds, repayment of Capital and Profitsharing.

II. The facsimile copy of this contract, signed by both Parties, islegally valid; the originals will follow by courier.

III. This Contract is made in three (3) copies all having legal force.

IV. All the Attachments are integral parts to this contract.

V. Any modification, amendment and / or alternation to thepresent terms and conditions must be in writing and agreed by

both parties.

VI. The Contract must be signed by all Parties for acceptance andvalidity

8. Execution of Agreement

All Parties confirm they are fully empowered, legally qualified and dulyauthorized (if relevant) by Resolution of their Board of Directors and that theywill bound by the terms and conditions of this Agreement.

9.

Force Majeure

The customary force Majeure clauses of the International Chamber ofCommerce (ICC) Paris are to be applying to this Contract being the latestedition or revision of those clauses.

It is understood and agreed that in the event of Force Majeure, War or CivilCommotion which may occurs in one or more of the Countries identified inthis contract shall have partial or total effect and which may cause one orboth Parties to become non performing will cause the Contract to be

stopped terminated.


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10.Non-Circumvention, Non-Disclosure and Non-Solicitation Rules

The Non-Circumvention, Non-Disclosure and Non-Solicitation rules are thoseestablished by the ICC-400,500 latest edition or revision.

The rules stated by the above Publications will remain in force for Three (3)years after the expiry of this Contract.

11.Recitals

Whereas the Party Ideclares his financial capabilities and expresses hisdesire and interest in investing an amount of $ 000,000,000.00 USD(_________ Million US Dollar) in a feasible project in cooperating with theParty IIas an expert businessperson.

Moreover, whereas the Party IIdeclares that he has good business,management and investment experience, and he declares that he has somefeasible project and he interests and seeks for a financier partner tocooperate with him in the investment fields, thereof both Parties desire tojoin for the pursuit of common business goals.

Both Parties desire to enter into a partnership agreement as the mostadvantageous business form for their mutual purposes.

In consideration of the mutual promises contained in this agreement, Partiesagree as follows:

Name, Purpose, and Domicile

11.The name of the Parties shall be from__________________andthe Parties will be conduct forthe purposes of REAL ESTATE ACQUISITIONS AND VARIOUSOTHER BUSINESSES. The principal place of business shall be inany Arabian Country, unless relocated by majority consent ofthe Parties.

Division of Profits and Losses

12.The Party Ishall be entitled to 80% (Eighty Percent) and the20% (Twenty Percent) and 2% (Two Percent) Commission willdeducted to the 20% (Twenty Percent).

13.The net profits of the business, and all losses occurring in thecourse of the business shall be borne in the same proportion,unless the losses are occasioned by the wilful neglect or default,and not the mere mistake or error, of any of the parties,

14. In which case the loss so incurred shall be good by the partiesthrough whose neglect or default the losses shall arise.


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15.Distribution of profits will make on the____Day ofeach year. Advance Draws

16.Each parties shall be at liberty to draw out of the business inanticipation of the expected profits any sums that may bemutually agreed on, and the sums are to be drawn only afterthere has been entered in the books of the partnership theterms of agreement, giving the date, the amount to be drawnby the respective partners, the time at which the sums shall bedrawn, and any other conditions or matters mutually agreed on

17.The signatures of each party will be affix on the books of thepartnership.

18.The total sum of the advanced draw for each parties shall bededucted from the sum that parties is entitled to under thedistribution of profits as provided for in Article Ten.

Salary

19.No Party shall receive any salary from the partnership, and theonly compensation to be paid shall be as provided in ArticlesTen and Eleven

.12.Arbitration

Any dispute, controversy or claim arising from and between the associatedParties to this Agreement and which cannot be directly settled between theparties, shall be settled by arbitration in accordance with the rules of the ICC(latest revision), Paris and its decision shall be final.

It is therefore, now agreed that the result of the Arbitration is deemed to beenforceable under any jurisdiction to which one of the Parties is subject, and

this shall be binding on either of the Parties to this Contract.

13. Jurisdiction Clause

Swiss Law and associated relevant rules shall govern this Agreement andshall apply to any action directly or indirectly related to this Contract.The place of jurisdiction shall be Zurich.

IN WITNESS THEROF, the Parties have hereto set unto their hands to confirm

the terms and conditions of this Agreement.


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SIGNED AND SEALED THIS DAY,____ of___________2010, IN KUALALUMPUR, MALAYSIA FOR AND ON BEHALF OF BOTH PARTIES:

PARTY I

SIGNED ) _____________________________NAME ) Mr.PASSPORT NO )TITLE & AUTHORITY )DATE ) ____of_____________2010

WITNESSED BY: ) _____________________________NAME: )

[SEAL]

PARTY II

SIGNED ) _____________________________NAME ) Mr.PASSPORT NO )TITLE & AUTHORITY ) BENEFICIARYDATE ) ____of_____________2010

SIGNED ) _____________________________NAME )PASSPORT NO )TITLE & AUTHORITY ) BENEFICIARYDATE ) ____of ___________ 2010

WITNESSED BY ) _____________________________NAME )

[SEAL]

agreement of financial assistance (internatinal moun group inc.)abdull jubbar ismail draft

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