Memorandum of Agreement Template South Africa Word

MEMORANDUM OF AGREEMENT

ENTERED INTO BY AND BETWEEN:

[____________________________________________________] (Registration Number: [____________________]) A company duly incorporated and registered in accordance with the laws of the Republic of South Africa, having its registered office at [____________________________________________________] (hereinafter referred to as the "First Party")

AND

[____________________________________________________] (Registration Number/ID Number: [____________________]) A [company/individual] duly incorporated and registered in accordance with the laws of the Republic of South Africa, having its registered office/residence at [____________________________________________________] (hereinafter referred to as the "Second Party")

(The First Party and the Second Party are collectively referred to as the "Parties" and individually as a "Party".)

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1. BACKGROUND AND PURPOSE

The Parties have agreed to enter into this Memorandum of Agreement (“MOA”) to set out the terms and conditions under which they will collaborate regarding [____________________________________________________] (the “Project”).

2. DURATION

This MOA shall commence on [] (the "Effective Date") and shall remain in force until [] or upon the completion of the Project, unless terminated earlier in accordance with the provisions herein.

3. OBLIGATIONS OF THE PARTIES

3.1 The First Party shall: [__________________________________________________________________________]

3.2 The Second Party shall: [__________________________________________________________________________]

4. FINANCIAL TERMS

In consideration for the services/obligations provided, the Parties agree that: [__________________________________________________________________________] Payments shall be made within [____] days of receipt of a valid tax invoice.

5. CONFIDENTIALITY

Each Party acknowledges that they may receive confidential information belonging to the other Party. The Parties undertake to keep all such information strictly confidential and shall not disclose it to any third party without the prior written consent of the disclosing Party, except as required by law.

6. DISPUTE RESOLUTION

In the event of a dispute arising out of or in connection with this MOA, the Parties shall attempt to resolve the matter amicably through negotiation. Should the dispute remain unresolved within [____] days, the matter shall be referred to arbitration in accordance with the rules of the Arbitration Foundation of Southern Africa (AFSA).

7. DOMICILIUM CITANDI ET EXECUTANDI

The Parties choose their respective addresses as set out above as their domicilium citandi et executandi for all purposes arising out of this MOA.

8. GOVERNING LAW

This MOA shall be governed by and construed in accordance with the laws of the Republic of South Africa.

9. ENTIRE AGREEMENT

This MOA constitutes the entire agreement between the Parties and supersedes all prior discussions, representations, or agreements, whether written or oral. No amendment to this MOA shall be of any force or effect unless reduced to writing and signed by both Parties.

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THUS DONE AND SIGNED AT [] ON THIS [____] DAY OF [] 20[____].

AS WITNESSES:

1. ---

2. ---

FOR AND ON BEHALF OF THE FIRST PARTY:

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(Signature) Name: [] Title: []

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THUS DONE AND SIGNED AT [] ON THIS [____] DAY OF [] 20[____].

AS WITNESSES:

1. ---

2. ---

FOR AND ON BEHALF OF THE SECOND PARTY:

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(Signature) Name: [] Title: []