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PROCUREMENT MANDATE
AGREEMENT
_________________________________
BETWEEN
AND
AND:
T&I Servicios Globales, S.A.S. (“The Principal”)
Carrera 8va 15ª # 46, Piso 2, Ofic. 203-204. Centro.
Valledupar-Cesar. Zona Postal 20001. Colombia.
WHEREAS “The Agent” undertakes as part of its business the introduction and
promotion of the purchase and sale of products or goods in relation to strategic
Mineral described in Schedule A (“the Product(s)” or “Goods”).
It is agreed as follows:
1. PROCUREMENT RIGHTS
1.4. “The Agent” shall use his best efforts to procure “The Products(s)”
for the duration of the Procurement Rights. At the request from time to
time of “The Principal”, “The Agent” shall furnish “The Principal” with a
reasonably detailed, written report on his efforts in procure “The
Product(s)” or “Goods” detailed in Schedule A required in the period
specified by “The Principal”.
2.2. “The Agent” shall find “The Product(s)” or “goods” from reliable
and legally established Providers within the mentioned Territory in
Schedule B, in accordance with the terms agreed in this contract. “The
Agent” shall promote a negotiation with the selected providers by “The
Agent” and conclude the procurement of “The product(s)” or “goods”
detailed in Schedule A, previously received and approved by “The
Principal”.
2.3. “The Agent” is not entitled to make payments in the name and on
behalf of “The Principal” without its prior written authorization to that
effect. If “The Agent” has been authorized, it must transmit the
payments as soon as possible to the Provider and then secure “The
product(s)” or “goods” part of the specific deal, until final delivery in
port of shipment.
2.5. “The Agent” shall with due diligence keep “The Principal” informed
about its activity, and the market conditions. “The Agent” shall provide
all the necessary information in Spanish to “The Principal” available to
it, concerning the laws and regulations within the territory that shall
apply to the product(s) or goods, as well as its activity. “The Agent” shall
further send every (three months) a report on its activities.
2.6. “The Agent” shall perform its activity independently and shall, in
no case, be considered as an employee of “The Principal”.
3.4. “The Principal” shall in addition inform “The Agent” without any
delay of its acceptance or refusal of any offers/orders transmitted by
“The Agent”.
3.5.2. The offer does not meet “The Principal” expectations in terms of
product expected quality, economics or conditions.
3.5.3. The overall quantity proposals prepared by “The Agent” are below
the minimum overall expectation referred to in paragraph 3.3.
4. PRODUCT PRICES
“The Agent” shall find most reliable Provider within the Territory specified
within Schedule B and get best price possible for buying “The Product(s)”
or “Goods” described within the Schedule A and “The Principal” may only
buy the “Product(s)” or “Goods” at the buying price(s) fixed by “The Agent”,
after dealing with qualified and certified Providers according to the territory
law undertake. The final buying price shall be inclusive of all costs of “The
Product(s)” or “Goods” FOB except by “The Agent” commission.
“The Principal” has the right to accept or refuse the prices and conditions
offered by “The Agent”, as it shall not comply with “The Principal”
expectations, budget or plan at any particular moment; however as for the
duration of six continue months, there are not acceptance on any offer
presented by “The Agent” to “The Principal”, this could be intended as an
early Contract termination cause.
5. PURCHASE
6. COMMISSION
7. NON-COMPETITION
8. CONFIDENTIALITY
“The Agent” and “The Principal” shall keep “The Parties” business secrets,
including but not limited to customer service, logistical, financial, research
and development information, confidential and shall not disclose them to
any third party during and after termination of the Buying Rights.
9. RESTRICTION OF TERRITORY
“The Principal” shall not solicit orders (or negotiate and conclude contracts)
to any third party different than “The Agent”, within the territory described
in Schedule B, unless expressly agreed on writing by “The Agent”.
“The Principal” shall notify “The Agent” of any inquiry or proposal received
from inside the territory for anybody different than “The Agent”. Such
notification shall not entitle “The Principal” to perform any business with
these parties.
If “The Agent” breaks any term of this agreement, “The Principal” may
summarily terminate the Buying Rights on notice in writing to “The Agent”
whom address details are listed in Schedule B. On termination of the
Buying Rights for any reason, “The Agent” shall immediately cease to
describe himself as an authorized buying agent of “The Principal” and cease
buying “The Product(s)” or “goods”.
The termination of this contract for any reason shall not affect:
10.3. At the end of this contract, “The Principal” shall pay all and any
commissions due to “The Agent”.
11. MISCELLANEOUS
11.1. In this agreement the singular includes the plural and the
masculine includes the feminine and neuter and vice versa unless the
context otherwise requires.
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Authorized Signature Authorized Signature