2213079

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CUMULATIVE INTERNAL ASSESSMENT - 1

BUSINESS LAW
(BBA632)

Submitted to Professor Mallika Sankar M.

Topic/ CIA details- Preparation of Business Contract

Submitted by Akshat Arora


Registration Number- 2213079
Class- 6BBAT
BUSINESS SERVICE AGREEMENT

This Service Agreement is entered into on the ___ day of _______ 2024, by and between:

Service Provider: InnovateEdge Solutions Pvt. Ltd., a technology services firm established
under the Companies Act, 2013, with its registered office located at 45 Skyline Avenue,
Whitefield, Bangalore, Karnataka, India (hereinafter referred to as the "Service Provider,"
including its successors and assigns unless specified otherwise).

Client: Mr. Akshat Arora, residing at 78 Blue Ridge Residency, Koramangala, Bangalore,
Karnataka, India (hereinafter referred to as the "Client," including his heirs and assigns unless
specified otherwise).

RECITALS

• The Client has expressed a need for customized digital marketing and IT consultancy
services to enhance his business’s online presence and operational efficiency.
• The Service Provider has agreed to render such services under the terms and
conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual promises and agreements outlined


herein, the parties agree as follows:

1. SCOPE OF SERVICES

1.1 The Service Provider shall deliver the following services as detailed in Annexure A:

• Search Engine Optimization (SEO) and content strategy.


• Website design and development.
• Social media management.
• IT consultancy services for e-commerce integration.

1.2 All services shall be performed in adherence to industry standards and within the
timelines agreed upon by the parties.

1.3 Any additional services, including but not limited to graphic design, video production, or
advanced data analytics, may be requested in writing and will be charged as per the terms
outlined in Annexure B.

1.4 Deliverables include detailed monthly progress reports and performance metrics.
2. TERM AND TERMINATION

2.1 Term: This Agreement shall commence on the effective date and continue for a period of
twelve (12) months, unless terminated earlier under this Agreement’s provisions.

2.2 Termination for Cause: Either party may terminate this Agreement if the other party
materially breaches its obligations and fails to remedy such breach within 30 days of
receiving written notice.

2.3 Termination for Convenience: Either party may terminate this Agreement by providing
60 days' prior written notice.

2.4 Effect of Termination: Upon termination, the Service Provider shall cease all services,
and all outstanding payments shall be settled per the terms of this Agreement.

2.5 Post-Termination Obligations: Both parties agree to return all confidential information
and materials obtained during the Agreement and resolve any pending disputes amicably.

3. PAYMENT TERMS

3.1 Service Fees: The Client agrees to pay service fees as specified in Annexure B.

3.2 Payment Schedule: Payments shall be made as follows:

• 25% of the total fees as an advance upon signing this Agreement.


• 50% of the fees upon delivery of the initial project phase.
• 25% of the fees upon project completion.

3.3 Late Payment Penalty: Any overdue payments shall attract a penalty of 2% per month.

3.4 Additional Costs: Any costs incurred, such as travel or procurement of specialized tools,
shall be reimbursed by the Client, provided prior approval is obtained.

3.5 Invoice Submission: All payments shall be made within 15 days of receiving the invoice
from the Service Provider.

4. RESPONSIBILITIES OF THE PARTIES

4.1 Client Responsibilities:

• Provide all necessary information and documentation for the timely execution of the
project.
• Offer prompt feedback and approvals during the project phases.
• Ensure proper access to relevant platforms or physical locations, if applicable.
4.2 Service Provider Responsibilities:

• Deliver high-quality services in alignment with the agreed-upon specifications.


• Maintain open communication regarding project progress.
• Assign qualified personnel to ensure smooth and efficient project execution.

4.3 Mutual Obligations: Both parties agree to cooperate in good faith and promptly address
any disputes or delays encountered.

5. INTELLECTUAL PROPERTY RIGHTS

5.1 All intellectual property created under this Agreement, including but not limited to
designs, strategies, and tools, shall remain the exclusive property of the Service Provider
unless explicitly transferred to the Client through a supplementary agreement.

5.2 The Client shall have a limited, non-exclusive license to use deliverables solely for his
business operations.

5.3 The Client agrees not to duplicate, reverse-engineer, or distribute the Service Provider’s
proprietary content without written consent.

5.4 Upon completion of the project, the Client shall gain access to finalized deliverables but
not to the proprietary methodologies or code frameworks used.

6. CONFIDENTIALITY

6.1 Both parties agree to maintain strict confidentiality regarding proprietary business
information shared during the engagement.

6.2 Confidential information shall not be disclosed to any third party without prior written
consent, except as required by law.

6.3 A breach of confidentiality shall entitle the affected party to seek legal remedies,
including compensation for damages incurred.

7. LIABILITY AND INDEMNIFICATION

7.1 Neither party shall be held liable for indirect or consequential damages such as loss of
profit or business interruptions.

7.2 Each party agrees to indemnify the other against claims or liabilities arising from
negligence, misconduct, or breach of contract.
7.3 The total liability of either party shall not exceed the total service fees paid under this
Agreement.

7.4 Legal expenses incurred during dispute resolution shall be borne by the responsible party.

8. FORCE MAJEURE

8.1 Neither party shall be held liable for delays or failures in performance due to unforeseen
circumstances beyond their reasonable control, including but not limited to natural disasters,
strikes, or government-imposed restrictions.

8.2 The affected party shall notify the other party in writing within seven (7) days of the force
majeure event.

9. DISPUTE RESOLUTION

9.1 All disputes shall initially be addressed through negotiation between the senior
representatives of both parties.

9.2 If unresolved, disputes shall be referred to arbitration in accordance with the Arbitration
and Conciliation Act, 1996. Arbitration proceedings shall take place in Bangalore and be
governed by Indian law.

9.3 Both parties agree to accept the arbitrator’s decision as final and binding.

10. MISCELLANEOUS

10.1 Governing Law: This Agreement shall be governed by the laws of India.

10.2 Entire Agreement: This document constitutes the entire agreement and supersedes all
prior discussions and understandings.

10.3 Notices: Notices shall be delivered to the designated addresses of both parties in writing.

10.4 Amendments: Modifications to this Agreement must be documented and signed by


both parties.

10.5 Survival: Provisions regarding confidentiality, indemnification, and dispute resolution


shall survive the termination of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first
written above.

SIGNATURES

For InnovateEdge Solutions Pvt. Ltd.:

Signature: ________________________
Name: ____________________________
Designation: _______________________

For Mr. Akshat Arora:

Signature: ________________________
Name: Akshat Arora
Address: 78 Blue Ridge Residency, Koramangala, Bangalore, Karnataka, India

Annexures

Annexure A – Scope of Services

1. SEO strategy development and keyword research.


2. Custom website design using responsive frameworks.
3. Social media branding and campaign management.
4. IT consultancy for setting up e-commerce platforms.

Annexure B – Payment Details

• Total Service Fee: ₹1,00,000.


• Advance Payment: ₹25,000.
• Payment Milestones:
o ₹50,000 upon Phase 1 completion.
o ₹25,000 upon final deliverable approval.

Annexure C – Progress Reports

• Monthly performance reports with metrics on:


o Website traffic improvements.
o Social media engagement rates.
o ROI on digital campaigns.

References

• Ministry of Corporate Affairs, Government of India. (n.d.). Companies Act, 2013.


Retrieved from https://www.mca.gov.in
• Reserve Bank of India. (n.d.). Banking Regulation Act, 1949. Retrieved from
https://www.rbi.org.in

• Ministry of Law and Justice, Government of India. (1996). The Arbitration and
Conciliation Act, 1996. Retrieved from https://legislative.gov.in

• Securities and Exchange Board of India. (n.d.). Guidelines on Corporate Governance.


Retrieved from https://www.sebi.gov.in

• Indian Ministry of Finance. (n.d.). Income Tax Act, 1961. Retrieved from
https://www.incometaxindia.gov.in

• International Chamber of Commerce. (n.d.). Guidelines on Commercial Contracts.


Retrieved from https://iccwbo.org

• World Bank. (n.d.). International Financial Regulations. Retrieved from


https://www.worldbank.org

• Legal Information Institute. (n.d.). Contract Law Principles. Retrieved from


https://www.law.cornell.edu

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