Submitted by: Submitted by maazT
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Category: Business and Industry
Date Submitted: 12/02/2012 01:35 PM
MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding (“MOU”) is made at Karachi on this day of , 2012 (“Effective Date”)
By and Between
Health and Nutrition Development Society (HANDS), a non-profit organization established having its registered office at (hereinafter referred to as “HANDS” which expression shall wherever the context so permits mean and include its successors-in-interest and permitted assigns) of the other part.
And
Mr/Ms(name of DEM)- (name of the district) which expression shall, wherever the context so permits, mean and include its successors- in-interest, nominees, legal representatives and permitted assigns) of the one part;
District Executive Manager (DEM) and Health and Nutrition Development Society (HANDS) may hereinafter collectively be referred to as the “Parties” and individually as a “DEM” and “ HANDS”.
The Main Features of the agreement/MOU are as follows:
The DEM can change the location of the display centre if the existing location is not considered suitable with prior intimation to HO. However, the entire cost of shifting/installation will be borne by District Office.
• HANDS HO will pay all arrears before the implementation of agreement.
• HANDS will pay seed money for 6 month for working capital for sustainability of display centre.
• The products of HANDS Hunarmand and Pakistani artisans/manufacturers can be sold.
• The entire investment at display centres at the District Office is the sole ownership of HANDS.
• The display centres will enjoy a grace period of six months from the date of signing of this agreement. After the expiry of grace period the seed money of Rs ------- will be redeemed to HANDS HO 10% per month, i.e in ten equal monthly instalments, either from funds generated from the operations or recovered from the salaries of DEM/GM/Manager on prorate basis.
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• DEM will establish incentive based remuneration system....