MEMORANDUM OF UNDERSTANDING
This Memorandum of understanding is entered into on this the …….. day of …………., between:
M/s. ANGiO Management Consultants Private Limited (herein after referred to as ANGiO for the sake of brevity), having its office at X-67 Regency Park 2, DLF City Phase 4, Gurgaon 122009
AND
M/s ……………….. (herein after referred to as The Associate Consultant) represented by ………………………,
and having its office at ………………………….
M/s. ANGiO and The Associate Consultant are signing this Memorandum of Understanding, herein after referred to as ‘MoU’, where under The Associate Consultant is willing to exchange services with M/s. ANGiO, bound by a bilateral understanding of business ethics and fair practises including general clauses for non-compete and non- circumvention.
GOAL – The parties herein wish to secure an open and effective dialogue and give a working dimension to their co-operation in the business of consultancy and implementation of assignments for each other’s clients and prospective clients. In consideration of the above, the parties herein put forth certain common guidelines and understanding to organize their future co-operation and achieve the goal and have for the purpose agreed as follows:
SCOPE OF COOPERATION – The field of cooperation under this MoU covers the areas of Strategic Planning, Development and Execution of:
• Branding related activities
• Internal and external communication
• Creation of intellectual and/or material property and in other areas where under the parties may choose to work together. The parties shall be bound by this MoU and shall be duty bound to perform their part of the responsibility by complying with the others’ request to furnish data/information, depute personnel or authorized representative, and to do and undo and undertake any initiative that may be required to achieve the goal of this MoU.
GENERAL PRINCIPLES:
1.The parties herein will make their best efforts to improve mutual communication, formulate business products and services by exploring and testing various methods of cooperation, such as meetings and conferences between the representatives of the contracting parties or with the representatives of the contracting parties’ clients in furtherance of the scope under this MoU.
2.The Associate Consultant shall depute and delegate its authorized personnel at its own cost and responsibility, as and when required and whenever requested by M/s. ANGiO for the purpose of working and completing a particular task or assignment.
3.For the purpose of uninterrupted working, immediate access and availability the authorized personnel deputed and delegated for the purpose by The Associate Consultant may work with and at the premises of M/s ANGiO and under the direct coordination of M/s. ANGiO.
4.Before taking up an assignment under this MoU, it is expected of both the contracting parties to define and set forth on paper the work to be done, which needs to be tangible, measurable and achievable within the specified time as agreed to between the parties as per defined commercial terms. Changes effected shall be communicated to the other party well in advance.
5.For the purpose of faster communication and better co-operation both the parties shall
set up one representative each, to supervise the proceedings and developments under the subject assignment.
6.The representatives shall have at least one meeting every three months to review the performance and to plan out the future executions of the assignments. The statement, objectives, goals, position papers and deliverables achieved as on the date of the meeting must be endorsed by the representatives.
7.The representative may where appropriate prepare proposals for common actions which shall result in a valuable and tangible contribution to the task launched and undertaken, exploit fully the cooperation with other individuals or entities and if necessary with the coordinating help of consultants or experts.
8.This MoU can be terminated through intimation in writing by either party and after 7 days of acceptance by the other.
9.It shall be the bounden duty of the all the persons involved or otherwise in any subject assignment or task throughout and beyond the tenure of this MoU, to keep as confidential:
-every aspect of information, development, methods adopted, communications received and given by both the parties,
-all and any information pertaining to the clients of both the contracting parties,
-all and any information pertaining to the consultants, advisers etc of both the contracting parties,
-all and every information pertaining to the contracting parties, and all and every information that is deemed and expressed to be kept as confidential.
IN WITNESS WHEREOF, the parties have caused this MoU to be executed by their duly authorized officers and to be effective as of the Effective Date.
For The Associate Consultant : For ANGiO:
Witnesses: