MOU & Partnership Agreement
Party-1: Company Name-1. is an incorporated company in Bangladesh having its office at Office Address
Party-2: Partner Company Name-2, is a company incorporated in ………… having its office at Office Address-2 (the “Party-2”).
Both parties agreed with the following terms and conditions under a partnership revenue sharing agreement so that each party’s business values can be protected.
Terms and Conditions:
- Party-1 has software/ IT service solutions, details are here (www.cloudsolutionltd.com), Party-2 will market, sell the solutions of party-1 and will get revenue sharing as per defined percentage.
- Party-2 can rebrand (Rename) the product name and provide the solution by the partner domain name.
- Freelancer/Partner/Agent will learn or get training about software products and services. He/she/they will promote our product to prospective clients via an online/digital approach. Like Email, Facebook, on-spot client visits, personal client references, any other reference.
- Pipelined or matured client lists need to be recorded to the PCS database to ensure revenue sharing.
- If multiple partners record the same client name then only a successful referral will get the revenue share.
- Freelancing staff will keep in touch with his/her referenced client for regular payment and ensure his % payment from party-1.
- Party-1 will provide the first implementation to 5 new clients required by Party-2.
- Party-1 will provide all product-related material in soft copy, document template so that staff can take action with minimum effort.
- Party-2 will maintain the secrecy of all party-1 official documents, business plans, client’s data, digital data, digital assets which are produced by party-1 employees as well as yourself.
- The documents, products are assets of party-1. Party-2 will not hand over to 3rd party, sell or reuse for other business purposes which can lose party-1’s potential business value.
- This document will be considered as a non-disclosure agreement for maintaining business secrecy and privacy among party-1 & party-2.
- Party-2 will offer the solution to clients as a SAAS (Software as a Service) with a monthly payment mode with one month advance. If clients are not happy then Party1- & Party-2 will return only one month’s subscription fee.
- If a dispute arises in the operation of the agreement between the parties involved both the parties will try to resolve the dispute through mutual discussion and failing which the dispute will be referred to the court of law in accordance with the country’s Arbitration Act
- Each sale referenced party-2 will get 40% revenue and party-1 will get 60% until the client is terminated or a maximum of 8 years
- To increase sale possibility there will be limited flexibility to provide discounts within the possible range. Both parties’ target will be to increase sale value so that both parties gain the business.
- Party-2 shall have to share Client agreement papers with party-1 and payment status will be audited on a trustworthy basis.
- Party-1 will settle the payment with party-1 each month via an online transaction channel by Bank Transfer or PayPal or other suitable channels. (We can arrange an online payment mechanism so that clients directly can pay and it will be distributed among both parties within one month as per agreed percentage).
Termination & Escalation
- The Party-1 shall be at liberty one-month time by notice in writing summarily terminate the service of the partner if
She/he is guilty of misconduct;
- Create a bad reputation of party-1 with a fake commitment to clients or a bad reputation by misbehaving, unfair delegation.
- Agreement amount and paid information are hidden from party-1.
- Upon termination of the partnership, party-2 will immediately hand over all documents developed by party-1. Party-2 will pay all dues within 1 month.
- The agreement will be active for 2 years. And will be auto-renewed for one year recursively until any of the party’s written requests for cancellation of business partnership.
- Party-2 shall commit to delivering at least 24 clients within 2 years.
Party-1 shall extend exclusive partnership only if Party-2 can complete the target agreed.
|Party-1 Role:||Party-2 Role:|
Support & Service
- There will be a support ticket system. It can be raised by clients or partners through the partner portal and application support panel.
- Level-1 support will be provided by the corresponding selling partner. PCS will provide the training on how to provide support like business operation and configuration.
- Level-2 support will be provided by Party-1.
- Level-3 support will be provided by the oracle technical team in case critical technical issues arise.
Sign of Both Parties: