MoU

                                 Memorandum of Understanding
 
 
                                                           BETWEEN

                             Zhejiang Huasheng Resin Chemical Industry Co., Ltd.

                                                               AND

                                               Kinetic Global Ventures



1. Parties

Zhejiang Huasheng Resin Chemical Industry Co. Ltd., referred to as the “Supplier”, with a principal address at No.10, Shanquan Road , Huangyan City , Zhejiang Province , 318020 China.


Kinetic Global Ventures, referred to as the “Consultant”, with a principal address at
15759-26 Taman Putri Indah 2, Kg. Padang Mengkuang, 21400 Marang, Terengganu, Malaysia.



2. Purpose

This Memorandum of Understanding is for the purpose of arranging suitable Buyer(s) for the Supplier’s products. Consultant will use its buyer database to achieve this purpose.



3. Background

Supplier is a trading company/ manufacturer dealing with chemical raw materials .

Consultant is a consulting firm providing consulting services to international buyers worldwide.

Consultant maintains an international buyer database with active buyers in it . Supplier wishes to do business with buyers in that buyer database.



4. Terms

This MOU will commence on 20th June 2008 and will remain in place until reviewed .

The Parties may review the terms of this MOU at anytime by written agreement and following consultations between the Parties.



5. Compensation

For the performance of the Consultant in introducing Buyer(s) to the Supplier , for the purpose of purchasing the Supplier’s products, the Supplier agrees to compensate the Consultant according to the rates listed below –

Consulting Fee of 5.5% of the net invoice price of ALL sales to Buyer(s) sourced by the Consultant. This will include sales from repeat orders or further orders placed by the Buyer(s) with the Supplier. This is applicable as long as the Buyer(s) is/are still buying the products from the Supplier. “Net invoice price” shall mean the FOB price charged to the Buyer(s) for the products exclusive of transportation and delivery costs , insurance , special discounts , value added tax(VAT) , import duties and other taxes .

The Supplier will make the payment to the Consultant via Telegraphic Transfer into the Consultant‘s banking account within THREE(3) business days after receiving the full payment from the Buyer(s). The Consultant shall provide the Supplier with the proper banking coordinates and instructions.



6. NON CIRCUMVENTION, NON DISCLOSURE CLAUSE

The Supplier agrees not to circumvent the commercial relationship between the Consultant and the Buyer(s) that the Consultant is actively engaged in negotiations with. Including but not limited to ; avoiding, or bypassing due payments or divisions of commissions or fees, in connection with this Agreement.

Furthermore, the Supplier and Consultant irrevocably agree that they shall not disclose or otherwise reveal any confidential information provided by one party to the other, particularly non disclosure of contract terms, confidential product information, proprietary or confidential manufacturing processes, confidential product pricing schedules, commission rates and fees, contact details or financing arrangements.



7. Termination

This Memorandum of Understanding may be terminated by either party, with or without cause, by giving the other party NINETY(90) days’ written notice to be sent via REGISTERED post. On termination, payment will be made only in respect of orders finalized or closed on or before the termination date and which are subsequently completed and paid for. Save for any special payments, the aforesaid shall represent the sole remuneration to be receivable by the Consultant who will bear his own operational costs and expenses.



8. Acceptance


Name : Mr. Zhang Ming Way
Job Title : Managing Director
Company : Zhejiang Huasheng Resin Chemical Industry Co., Ltd.
Address :  No.10, Shanquan Road , Huangyan City , Zhejiang Province , 318020 China.

Signature :                                                        Company stamp :





———————————————-

Printed Name :
Date :
      
      

 
Name : Mr. Shafie Wahab
Job Title : Director
Company  : Kinetic Global Ventures
Address :  15759-26 Taman Putri Indah 2, 21400 Marang, Terengganu, Malaysia.

Signature :                                                        Company stamp :





———————————————-

Printed Name :
Date :