THIS Agreement is made between ORANGEWOODS LIMITED called THE COMPANY, of 32 Akhionbare Street off Ihama GRA Benin city, Edo state, Nigeria and The undersigned Investor (called “THE INVESTOR or CLIENT”) of INVESTOR ADDRESS.
It is hereby agreed as follows:
1. agreement:
1.1. Orangewoods Limited offers services of; Real Estate, Logistics and Technology.
1.2. The Investor desires to invest in the Logistics department of the above company.
1.3. The Investor is investing N550,000 for a bike in the above company.
1.4. The company will pay The Investor N50,000 monthly for 17 months or as agreed of this investment tenure.
1.5. The investment starts from the second month after the initial investment is made and it ends after completion of the duration.
1.6. On expiration of the investment tenure, bikes and other equipment becomes a property of The Company.
1.7. The Investor is entitled to 5% interest of the earnings of the months or duration The Company fails to pay the earnings when due.
1.8. In the case where the investor wants to terminate this agreement and needs a refund, all earnings paid will be deducted from the invested amount plus an extra 30% Administrative fee on the total sum before refunds will be made. This will come with a one month written notice to The Company and refunds will be made within 3 months after deductions as stated above.
2.1. Either party can terminate this Agreement before the end of the agreement provided the party terminating this Agreement shall give a one (1) month prior notice to the other party.
2.2. Orangewoods ltd or The Investor may terminate this Agreement where either party repeatedly breaches any of the terms and conditions of this Agreement in such a manner as to reasonably justify the opinion that his conduct is inconsistent with his having the intention or ability to give effect to the terms and conditions of this Agreement.
3.2. If the dispute cannot be resolved by the Parties within one month it may by agreement between the Parties be referred to a neutral adviser or mediator chosen by agreement between the Parties. All negotiations connected with the dispute shall be conducted in confidence and without prejudice to the rights of the Parties in any further proceedings.
3.3. If the Parties fail to appoint a Mediator within one month, or fail to enter into a written agreement resolving the dispute within one month of the Mediator being appointed, either Party may exercise any remedy it has under applicable law.
4. GOVERNING LAW
4.1. The rights, obligations and liabilities of the parties under this agreement shall be construed and determined in accordance with the substantive and procedural laws of Nigeria.
4.2. The parties hereby agree that the High Court of Edo State, shall have jurisdiction to determine any dispute arising from this agreement.
5. Force Majeure
5.1. Neither Party shall be liable for failure or delay in performing any obligation whatsoever under this Agreement arising from any circumstance beyond its reasonable control, including but not limited to natural disasters, acts of civil or military authority, epidemics, governmental restrictions, wars, riots, storms and floods.
5.2. The party affected by a force majeure shall promptly notify the other party of the occurrence of the force majeure.
5.3. The party affected by the force majeure shall do what is reasonably within its means to mitigate the effect(s) of the force majeure.
5.4. If such circumstances continue for a continuous period of more than 30 days, either Party may terminate this Agreement by written notice to the other Party.
6. AMENDMENT/ADDENDUM
6.1. No amendment/addendum shall be made to this agreement except such amendment/addendum is made with the written consent of both parties.
6.2. Such amendment/addendum shall not nullify this original document but shall only serve the purpose of correcting and/or replacing the section(s) of this Agreement which shall be so specified.
6. Miscellaneous
6.1. Neither Party hereto may assign its rights hereunder without written consent of the other Party.
6.2. This Agreement supersedes all other prior representations, understanding, or agreements, written or oral, by or between the Parties, and or their agents, and shall prevail notwithstanding any variance with terms and conditions of any such representation.
6.3. Failure of any party to insist upon the performance of any term(s) of this Agreement, by the other party shall not be treated or deemed to constitute a modification of such term(s). Nor shall such failure or election be deemed to constitute a waiver of the right of the other party at any time whatsoever thereafter to insist upon performance by the other party in accordance with any term or provision of this agreement, except such waiver was made in writing and signed by the waiving party.
6.4. The marginal headings are inserted for convenience only any do not form part of this agreement.
6.5. The illegality and unenforceability of any provision(s) of this agreement shall not affect the whole and the illegal or unenforceable provision(s) shall be construed as if it was never a part of this agreement.
This contract starts on DATE OF COMMENCEMENT and ends on END OF CONTRACT.