Exclusive Distributorship Agreement
THIS AGREEMENT is made and entered into on this __________ day of ______________, by and between GlobalTech Innovations Inc., a corporation duly organized and existing under the laws of Taiwan with its principal place of business at Taipei, Taiwan (hereinafter referred to as “Seller”),
AND
InnoTech Ventures Limited, a company registered under the Companies Act, 1956, with its principal place of business at New Delhi, India (hereinafter referred to as “Distributor”).
WHEREAS Clause
WHEREAS, Seller is desirous of exporting the products stipulated in Article 4 hereof to the territory stipulated in Article 3 hereof, and WHEREAS, Distributor is desirous of importing from Seller and selling the said products in the said territory; NOW, THEREFORE, in consideration of the promises and the mutual covenants to be faithfully performed herein contained, IT IS HEREBY AGREED AND UNDERSTOOD AS FOLLOWS:
Article 1. Appointment
During the effective period of this agreement, Seller hereby appoints Distributor as its exclusive distributor, and Distributor accepts and assumes such appointment.
Article 2. Privity
The relationship hereby established between Seller and Distributor during the effective period of this Agreement shall be solely that of Seller and Distributor has no authority to assume or create any obligation in the name of or of any kind on behalf of Seller.
Article 3. Territory
The territory covered under this Agreement shall be expressly confined to the entire territory of INDIA (hereinafter called the “territory”).
Article 4. Products
The products covered under this agreement shall be expressly confined to Uninterruptedly Power Supply (UPS) (hereinafter called “Products”).
Article 5. Prices
As applicable from time to time and conveyed by the Seller to the Distributor in writing, and Distributor giving its consent in writing to the Seller.
Article 6. Technical Improvement and Patent Application
During the term of this Agreement, Seller shall furnish to Distributor any technical improvements and inventions relating to the Products made by Seller without any delay and free of charge. As Seller has the right to apply for the issuance of patents thereon, Distributor agrees to make reasonable efforts to obtain such protection in India. During the term of this Agreement, Distributor agrees to furnish to Seller all technical improvements and inventions related to the Products required by Distributor without any delay and free of charge in consideration of services in Article 6-1 above.
Article 7. After Sale Service
Seller will provide a one-year full guarantee to Distributor after the shipping date. In case of faulty Products, Seller shall replace the faulty units with new All-in-one PCB. Distributor shall send faulty PCB back to Seller for repairing. Whenever Seller has received a complaint about the products from the distributor, Seller shall immediately make an investigation and take proper action.
Article 8. Exclusive Right
In consideration of the exclusive right herein granted, Distributor shall not purchase, import, sell, distribute, or otherwise deal in any products competitive with or similar to Products in the Territory, and Seller shall not offer, sell, or export Products to Territory through another channel than Distributor during the effective period of this Agreement. The Seller shall not provide assistance, supply directly or indirectly, the technical details of the products to anyone in the Territory.
Article 9. Minimum Purchase
Distributor shall purchase at least US$ ……………………(U.S. Dollar …………………only ) of product during one (1) year (12 months) during the effective period of this Agreement and its extension thereof, if any.
Article 10. Individual Contract
Each individual contract under this Agreement shall be subject to this Agreement, but such contract shall be concluded and carried out by Seller’s sale note or confirmation, which shall set forth the terms, conditions, rights, and obligations of the parties hereto arising from or in relation to or in connection with such contract except those stipulated in this Agreement.
Article 11. Payment
Payment by either irrevocable letter of credit or remittance by telegraphic transfer through a bank. Letter of credit: Within 7 days after the receipt of Seller’s confirmation of order, Distributor shall cause an irrevocable confirmed Letter of Credit(s) available by Seller’s sight draft to be established with a prime bank satisfactory to Seller. Remittance by Telegraphic Transfer. Payment shall be received by Seller 7 days before the shipment effect.
Article 12. Information and Report
Both Seller and Distributor shall periodically and/or on the request of either party furnish information and market reports to each other to promote the sale of Products as much as possible. Distributor shall give Seller such reports as inventory, market conditions, and other activities of Distributor.
Article 13. Sales Promotion
Distributor shall diligently and adequately advertise and promote the sale of Products throughout the Territory. Seller shall furnish with or without charge to Distributor a reasonable quantity of advertising literatures, catalogues, leaflets, folders, etc
Exclusive Distributorship Agreement
THIS AGREEMENT is made and entered into on this __________ day of ______________, by and between GlobalTech Innovations Inc., a corporation duly organized and existing under the laws of Taiwan with its principal place of business at Taipei, Taiwan (hereinafter referred to as “Seller”),
AND
InnoTech Ventures Limited, a company registered under the Companies Act, 1956, with its principal place of business at New Delhi, India (hereinafter referred to as “Distributor”).
WHEREAS Clause
WHEREAS, Seller is desirous of exporting the products stipulated in Article 4 hereof to the territory stipulated in Article 3 hereof, and WHEREAS, Distributor is desirous of importing from Seller and selling the said products in the said territory; NOW, THEREFORE, in consideration of the promises and the mutual covenants to be faithfully performed herein contained, IT IS HEREBY AGREED AND UNDERSTOOD AS FOLLOWS:
Article 1. Appointment
During the effective period of this agreement, Seller hereby appoints Distributor as its exclusive distributor, and Distributor accepts and assumes such appointment.
Article 2. Privity
The relationship hereby established between Seller and Distributor during the effective period of this Agreement shall be solely that of Seller and Distributor has no authority to assume or create any obligation in the name of or of any kind on behalf of Seller.
Article 3. Territory
The territory covered under this Agreement shall be expressly confined to the entire territory of INDIA (hereinafter called the “territory”).
Article 4. Products
The products covered under this agreement shall be expressly confined to Uninterruptedly Power Supply (UPS) (hereinafter called “Products”).
Article 5. Prices
As applicable from time to time and conveyed by the Seller to the Distributor in writing, and Distributor giving its consent in writing to the Seller.
Article 6. Technical Improvement and Patent Application
During the term of this Agreement, Seller shall furnish to Distributor any technical improvements and inventions relating to the Products made by Seller without any delay and free of charge. As Seller has the right to apply for the issuance of patents thereon, Distributor agrees to make reasonable efforts to obtain such protection in India. During the term of this Agreement, Distributor agrees to furnish to Seller all technical improvements and inventions related to the Products required by Distributor without any delay and free of charge in consideration of services in Article 6-1 above.
Article 7. After Sale Service
Seller will provide a one-year full guarantee to Distributor after the shipping date. In case of faulty Products, Seller shall replace the faulty units with new All-in-one PCB. Distributor shall send faulty PCB back to Seller for repairing. Whenever Seller has received a complaint about the products from the distributor, Seller shall immediately make an investigation and take proper action.
Article 8. Exclusive Right
In consideration of the exclusive right herein granted, Distributor shall not purchase, import, sell, distribute, or otherwise deal in any products competitive with or similar to Products in the Territory, and Seller shall not offer, sell, or export Products to Territory through another channel than Distributor during the effective period of this Agreement. The Seller shall not provide assistance, supply directly or indirectly, the technical details of the products to anyone in the Territory.
Article 9. Minimum Purchase
Distributor shall purchase at least US$ ……………………(U.S. Dollar …………………only ) of product during one (1) year (12 months) during the effective period of this Agreement and its extension thereof, if any.
Article 10. Individual Contract
Each individual contract under this Agreement shall be subject to this Agreement, but such contract shall be concluded and carried out by Seller’s sale note or confirmation, which shall set forth the terms, conditions, rights, and obligations of the parties hereto arising from or in relation to or in connection with such contract except those stipulated in this Agreement.
Article 11. Payment
Payment by either irrevocable letter of credit or remittance by telegraphic transfer through a bank. Letter of credit: Within 7 days after the receipt of Seller’s confirmation of order, Distributor shall cause an irrevocable confirmed Letter of Credit(s) available by Seller’s sight draft to be established with a prime bank satisfactory to Seller. Remittance by Telegraphic Transfer. Payment shall be received by Seller 7 days before the shipment effect.
Article 12. Information and Report
Both Seller and Distributor shall periodically and/or on the request of either party furnish information and market reports to each other to promote the sale of Products as much as possible. Distributor shall give Seller such reports as inventory, market conditions, and other activities of Distributor.
Article 13. Sales Promotion
Distributor shall diligently and adequately advertise and promote the sale of Products throughout the Territory. Seller shall furnish with or without charge to Distributor a reasonable quantity of advertising literatures, catalogues, leaflets, folders, etc. Representatives of Seller may periodically visit Distributor and advise Distributor in methods and means best suited to promote the sale of Products throughout the Territory.
Article 14. Industrial Property Rights
Distributor may use the trade-mark(s) of Seller during the effective period of this Agreement only in connection with the sales of Products, provided that even after the termination of this Agreement Distributor may use the trade-mark(s) in connection with the sale of Products held by it in stock at the time of termination. Distributor shall also acknowledge that any and all patents, trademarks, copyrights, and other industrial property rights used or embodied in Products shall remain the sole properties of Seller and shall not dispute them in any way.
Article 15. Duration
This Agreement shall become effective on the day appearing at the first above written upon the signing of both Seller and Distributor and shall remain effective for a period of one year. At least three (3) months before the expiration of the term, Seller and Distributor shall consult with each other for renewal of this Agreement.
Article 16. Prohibition of Sale outside Territory
Unless prior notice and approval by Seller, Distributor shall not sell or export, nor cause any other person, firm, or corporation in Territory to sell or export Products outside Territory during the effective period of this Agreement.
Article 17. Assignment
Neither party shall assign and/or transfer this Agreement in whole or in part to any individual, firm, or corporation without the prior written consent of the other party.
Article 18. Observance of Secrecy
Both Seller and Distributor shall keep in strict confidence from any third party(s) and all important matters as to the business affairs and transactions covered by this Agreement.
Article 19. Notice
All notice which may or shall be given under this agreement shall be made by registered airmail or cable to the address mentioned below or to such address as are notified in writing by the parties hereto. If either party has changed its address, a written notice thereof shall be given to the other party. All notices shall also be deemed to have been given on the day when deposited in post.
[Address of Seller] [Address of Distributor]
Article 20. Assembling
To secure regular supplies in the territory, if both the parties agree, the seller shall provide all parts of the product to assemble the product in the territory. If the Seller wishes to establish its manufacturing unit in the territory, the Distributor shall be given preference to establish such a unit.
Article 21. Governing Law & Arbitration
This Agreement shall be governed and interpreted by the laws of India. In case any dispute or controversy arises out of or in relation to this Agreement between both parties shall be settled amicably but, in case of failure, these disputes or controversies shall be finally settled in London by arbitration in accordance with the International Commercial Arbitration Association where the award shall be final binding upon the parties hereto.
Article 22. Entire Agreement
This Agreement constitutes the entire and only agreement between the parties hereto and supersedes all previous negotiations, agreements, commitments relating to the sale of Products and shall not be released, discharged, changed, or modified in any manner, except by instruments signed by duly authorized officer or representative of each of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement in English and duplicate to be executed by their respective duly authorized officer or representative as of the day first above written.
For GlobalTech Innovations Inc. For InnoTech Ventures Limited
[Signature] [Signature] [Printed Name] [Printed Name] [Title] [Title] [Date] [Date]
