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    A.K. Traders

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    SHRI SAI AASS ENTERPRISES
    The document is a deed of joint venture between A.K. Traders (First Party) and Mr. Alok Agarwal (Second Party) to run a seasonal goods business under the name A.K. Traders. The Second Party contributes a 345 square foot shop space, while the First Party provides capital and management. Key terms include the First Party paying 0.5% of daily sales or Rs. 25,500 monthly as rent, a 11 month initial term, and provisions for extending, modifying or terminating the agreement. Disputes will be settled via arbitration.

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    © All Rights Reserved
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    A.K. Traders

    Uploaded by

    SHRI SAI AASS ENTERPRISES
    37 views4 pages
    The document is a deed of joint venture between A.K. Traders (First Party) and Mr. Alok Agarwal (Second Party) to run a seasonal goods business under the name A.K. Traders. The Second Party contributes a 345 square foot shop space, while the First Party provides capital and management. Key terms include the First Party paying 0.5% of daily sales or Rs. 25,500 monthly as rent, a 11 month initial term, and provisions for extending, modifying or terminating the agreement. Disputes will be settled via arbitration.

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    a.k. traders.docx

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    The document is a deed of joint venture between A.K. Traders (First Party) and Mr. Alok Agarwal (Second Party) to run a seasonal goods business under the name A.K. Traders. The Second Party contributes a 345 square foot shop space, while the First Party provides capital and management. Key terms include the First Party paying 0.5% of daily sales or Rs. 25,500 monthly as rent, a 11 month initial term, and provisions for extending, modifying or terminating the agreement. Disputes will be settled via arbitration.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    37 views4 pages

    A.K. Traders

    Uploaded by

    SHRI SAI AASS ENTERPRISES
    The document is a deed of joint venture between A.K. Traders (First Party) and Mr. Alok Agarwal (Second Party) to run a seasonal goods business under the name A.K. Traders. The Second Party contributes a 345 square foot shop space, while the First Party provides capital and management. Key terms include the First Party paying 0.5% of daily sales or Rs. 25,500 monthly as rent, a 11 month initial term, and provisions for extending, modifying or terminating the agreement. Disputes will be settled via arbitration.

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    © All Rights Reserved
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    DEED OF JOINT VENTURE

    THIS DEED OF JOINT VENTURE (J.V.) is executed this the ____________________2020 by and between
    A. K. TRADERS hereinafter referred to as the FIRST PARTY which term or expression shall unless excluded
    by or repugnant to the subject or context to be deemed to mean and include it’s successor and/or
    successors in premises/interest and assigns being represented by one of its Director, Mr. ARUN KUMAR,
    S/o – Late Binod Kumar, by faith Hindu, By occupation - Business, Pan No. – ECCPK7296E, resident of
    Naya Bazar, Jugsalai, PO + PS – Jugsalai, East Singhbhum, Jharkhand 831006.
    AND
    Mr. Alok Agarwal, S/o – Late L.R. Agarwal, by faith Hindu, by occupation Business, residing at: Station
    Road, Jugsalai, Near Pradeep Mishra Chowk, Bagbera, East Singhbhum, Jharkhand, pin - 831002
    hereinafter be called the SECOND PARTY.

    JOINT VENTURE WITNESSETH AS FOLLOWS:

    Whereas the above named First Party already running business name firm named A.K. TRADERS, dealing
    in Seasonal Festival Items, Fire Crackers, Rakhi and Gift Items.

    And Whereas the Second Party entered in the said business firm A.K. TRADERS as a partner and First
    Party as Director of the said firm entered to this joint venture for running the said business under the
    firm name A. K. TRADERS.

    Whereas the shop premises, of area measuring approx 23’ ft x 15’ ft will be used for running outlet for
    selling items of Seasonal Festival Items, Fire Crackers, Rakhi and Gift Items with valid permission from
    Govt. Authority concern in the name of First Party as a working and active partner of the said business.
    TERMS & CONDITIONS

    1. That both parties wished running the business under the firm namely A.K. TRADERS through the
    said Second party’s shop premises which description is given in schedule below.
    2. That, the commencement for the business is from ___________________2020 running upto 11
    months till _____________________ 2021.
    3. That, the First Party will pay 0.5% amount of per day sale or Rs. 25,500/- (Rupees Twenty Five
    Thousand Five Hundred) per month whichever is higher to the Second party. Be it noted that if
    the First Party delays to pay the said amount to the second party by one month, in that event
    the second party have right to lock up the said premises and recover his balance amount by
    selling the Goods which is inside the premises.
    4. That the agreement will automatically be cancelled after expiration of the aforesaid date and
    said terms of deed may extend with the concern of the second party with the increasing rate or
    as per his choice.
    5. Electricity, Water and Maintenance as per actual and any government taxes and duties if
    applicable, will be paid by the first party.

    6. The SECOND PART would contribute his place about 345 sqft approx on the Ground Floor. Any
    other capital required to be introduced is the responsibility of the FIRST PARTY.
    7. Second party will not be liable for any losses damages or Govt. Dues in this business and second
    party will not responsible for any legal and illegal activity whatsoever done by the first party and
    for such first party will be fully responsible for such legal and illegal work and he shall be
    punished accordingly to the law. The first party has to maintain the peace and healthy relation
    with the surroundings and the nearby peoples.
    8. That the management & responsibilities of the business shall remain upon the FIRST PARTY.
    9. That the shop premises is in the name of the Second party and the First party will use the said
    shop only for selling the Seasonal Festival Items, Fire Crackers, Rakhi and Gift Item products.
    10. The Bank Account of A.K. Traders will be used as the bank account of the joint venture will be
    operated by the First Party.
    11. That each party shall have the right to retire himself from the business during the continuance
    of the joint venture and he can exercise this right by giving three calendar month’s previous
    notice to the other party.
    12. That no party shall, without the previous consent in writing of the other party, assigns, transfer
    or mortgages his share or interest in the business or introduces any other part with him therein,
    except that any part may introduce a son or a daughter into the whole or any part of this share
    to him/her.
    13. The parties shall be entitled to modify the above terms by executing supplementary deed and
    any such shall have effect, unless otherwise provided, from the first day of the accounting
    period in which such supplementary deed is executed and shall form part of this deed.
    14. Any dispute arising out of the terms of this agreement shall be referred to be the arbitration
    from decision and award, which shall be binding on both the parties and the provisions of the
    arbitration Act, 1940 shall apply in this behalf. The arbitrator will be appointed by mutual
    consent of both the parties, as and when desired all the adjusted any, shall be subject to the
    jurisdiction of the concerned court.
    15. That both the party have to abide by all the terms and conations as per the joint venture.

    SCHEDULE

    A Shop situated at Pradeep Mishra Chowk, Station Road, Jugsalai, Jamshedpur, East Singhbhum,
    measuring 345 sqft approx which is bounded by:

    North : Main Station Road

    South : Tin Shad

    East : Vikash Redimed

    West : Shre Sai Aass Enterprises (Cyber Café)


    In witness whereof both the party have singed this the day, month and year mentioned above.

    1. Witness:

    ----------------------------------------------------

    ---------------------------------------------- M/s A. K. Traders

    ---------------------------------------------- For

    ---------------------------------------------- Mr. Arun Kumar (FIRST PARTY)

    2. Witness:

    ----------------------------------------------------

    ---------------------------------------------- Mr. Alok Agarwal

    ---------------------------------------------- (Second Party)

    ----------------------------------------------

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