PARTNER1
PARTNER1
PARTNER1
COMPANIES NAME
FULL ADDRESS
REFERENCE CODE
RECITALS
WHEREAS
1. PARTY 1 IS INTERESTED IN PROJECTS IN KSA SAUDI ARABIA AND HAS SPECIAL INTREST PARTS
OF THE NEOM PROJECTS .
2. PARTY 1 WILL WORK TOGETHR WITH PART2 AS PARTNERS.
3. PARTY 2 WILL INTRODUCE PARTY 1 TO THE DECISION MAKERS OF THE PROJECTS IN KSA SAUDI
ARABIA WITH THE INTENTION TO ACQUIRE PROJECTS FOR PARTY 1
4.PARTY 2 will receive a fee for services that lead to irrevocable signed contracts in KSA
5. The collaboration between PARTIES IS non-exclusive.
Taking into consideration above mentioned PARTY 1 and PARTY 2 want establish a joint venture
(the agreement) for purposes as mentioned in bullets 1 till 4.
In consideration of the mutual covenants and conditions set forth herein, and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
PARTIES, intend to be legally bound, hereby agree as follows:
4.PARTIES will work together as partners in KSA this implies that PARTIES will communicate
openly on ongoing projects, acquisitions, sales and establish a relationship not only but primarily
based on good faith
5.PARTY 1 is solely responsible for all final arrangements with the decision makers. PARTY 2 is
assist if requested and is primarily responsible for maximizing the opportunities and preparing
the singing of contracts.
6. PARTY 2 will receive a fixed fee of 1% of the project value. The payment will be done by PARTY
1 after irrevocable signing of the contract with the authorized decisionmakers and finalized
funding structure.
7. This agreement establishes a contractual relationship by and among the PARTIES and does not
constitute a separate legal entity. None of the parties is an officer, shareholder, employee or
affiliate of the other obligation by or on behalf of the other PARTY, and no PARTY is authorized to
unilaterally enter into any agreement or make any contractual or legal obligation by or on behalf
of the other PARTY
8. this agreement shall be governed by Dubai Law at an agreed venue, without regard to its
conflict of law's provisions.
9. this agreement constitutes the definitive and final agreement of the PARTIES and supersedes
any and all preceding agreements, contracts drafts and negotiations (whether oral or written)
10. any PARTY to this agreement including their successors agrees in writing to be bound by all of
the terms and conditions of this agreement.
6/01/2023(PARTY1)… 07/01/2023(PARTY2)…
JOINT VENTURE USC AND Abdulaziz AI-Ghamdi CONCERNING PROJECTS IN KSA
Will not in any manner solicit, nor accept any business from any party or entity, which was made
available by the other PARTY through this Agreement, without the expressly written permission
of the said PARTY.
b. Will maintain complete confidentiality regarding the business sources and/or Affiliates
released and will disclose such confidential business sources only with the prior expressly written
permission of the said PARTY.
c. Will not disclose names, addresses, email addresses, telephone and tele-facsimile or telex
numbers of any contacts released by either PARTY to ANY third parties and stipulate that such
contacts are the exclusive property of the Joint Venture's introducing party, and that they will not
enter into any direct negotiations or transactions with such contacts unless authorized in writing
by the introducing party;
d. Will not enter into business transactions with banks, investors, sources of funds or other
bodies, the names of which have been provided by the other PARTY, unless written permission
has been obtained from the introducing PARTY. For the purpose of this Agreement, it does not
matter whether information is obtained from a natural person or a legal entity. The PARTIES also
undertake not to make use of any third party to circumvent this clause.
e. This Agreement is effective upon execution by both PARTIES, and remains in effect until both
PARTIES agree to dissolve it. Even then, this Agreement will extend until such time as the last
portion of the Contracted Product is sold to the customer / client and the sale proceeds are
disbursed as provided in this Agreement.
f. This Agreement embodies the entire agreement of the PARTIES hereto, and no representations,
inducements or agreements, oral or otherwise, between the PARTIES not contained in this
Agreement shall be of any force or effect. This Agreement may not be amended or modified,
waived or terminated, except by a written instrument executed by the authorized
representatives of all of the PARTIES hereto.
g. The unenforceability, invalidity or illegality of any provision of this Agreement shall not render
the other provisions hereof unenforceable, invalid or illegal, but any unenforceable, invalid or
illegal provision shall simply be stricken from the Agreement and all of the other terms and
conditions of the Agreement shall remain in full force and effect.
h. The consideration stated herein is contractual and not a mere recital. The PARTIES hereto
execute and deliver this Agreement after being fully informed of its terms, contents, and legal
effect, and each represents that it has been fully advised by counsel concerning their rights with
respect to the execution of this Agreement, and that no compromise or representation of any
kind other than contained herein has been made to any of them, and that the giving of the
consideration mentioned above represents all of the money and/or other consideration to be
paid to or given on behalf of any of them.
I. This Agreement may be pleaded as a full and complete defense to and may be used as a basis
for an injunction against, any action, suit or other proceeding that may be instituted, prosecuted
or attempted by any PARTY hereto against the other, except as otherwise specifically provided
.herein
j. The PARTIES hereto certify that they have read this Agreement in its entirety, have consulted
with or had the opportunity to consult with competent counsel as to the meaning and intent of
the terms and conditions contained herein (or knowingly waived the opportunity to do so),
execute this Agreement having complete understanding of the consequences hereof, and are
legally entitled by company statute or in possession of a corporate resolution from their
respective corporations authorizing them to execute this Agreement on behalf of their respective
.party
k. The PARTIES agree and acknowledge that this Agreement is the result of their mutual efforts
and that they are both drafters of this Agreement, and that no court, arbitrator or other
adjudicating entity shall construe the terms of this Agreement against any PARTY as a result of its
authorship.
l. All notices required to be given by the terms of this Agreement to any PARTY shall be deemed
to have been received within Five (5) business days after having been sent by registered or
certified mail, return receipt requested, postage prepaid, or personally delivered to the
addresses of the party set forth in this Agreement. A copy of all notices shall be sent via e-mail.
The address for each PARTY is as follows, and may be changed at any time by written notice to all
:PARTIES
M. The second party is not responsible for any financial or legal obligation or any breach by the
first party in the contracts, and the 1% is considered as the effort for the consulting and providing
.projects only
N. Term of this contract 5 (Five) years from the Date of the activation of this contract with roll
and extension as per the needed of the work.
)xxxxxxxxxxxxxx) email address
O. The PARTIES are each bound by this Agreement and the partners, successors, executors, .0
administrators, and legal representatives of them, and their assignees are hereby bound to the
other party to this Agreement and to the partners, successors, executors, administrators, and
legal representatives (and all said assignees) of such other party, in respect of all covenants,
agreements, and obligations of this Agreement. The rights and liabilities of the PARTIES hereto
shall bind and inure to the benefit of their respective successors, assigns, heirs, executors, and
administrators, as the case may be, except that either PARTY may sublet, assign or otherwise
transfer this Agreement and/or any part hereof, or any of the obligations due hereunder,
(including, but without limitation, any monies which may become due hereunder) upon notice to
the other PARTY. Unless neither provided in any written consent to an assignment of rights under
this
SIGNATURE PAGE
For PARTY 1
For PARTY 2
Abalulaziz Alghamdi
.shall be deemed to exclude or limit liability for fraud or fraudulent misrepresentation 9.1
Party under or pursuant hereto shall constitute a waiver by that Party of that or any other right,
power
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or remedy
Governing Law and Jurisdiction
The interpretation construction and effect of this Agreement shall be governed and construed in
all respects in accordance with the Laws of the UK and the Parties hereby submit to the exclusive
.jurisdiction of the UK Court system
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Third Parties
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Publicity
Neither Party shall publicise the fact of this
.Agreement or the subject matter thereof without the prior written consent of the other Party
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Counterparts
The signatures of the Parties need not appear
No person who is not a Party to this
.Agreement shall have any right or benefit under it
Waiver
on the same copy of this Agreement or any Work Assignment or amendment to this Agreement,
so long
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as each Party signs at least one copy of this
Agreement (or, as applicable, Work Assignment or
No exercise or failure to exercise, or delay in exercising any right, power or remedy vested in any
.amendment) and the copies contain the same terms and conditions
In addition to the NDA the following. Any business that is derived from the introduction and
.follow up of Party 2, will result into a later to be discussed fee for services
Agreed for and on behalf of
)First Party(
Mr. A. Hajjari CEO
)Second Party(
Mr Abdulaziz Al-Ghamdi
January 6, 2023
January .., 2023
PARTY 2 will receive a yearly participation fee of 2,5% of the total yearly
rental of the projects in the Kingdom of Saudi Arabia.