ICC NON-CIRCUMVENT, NON-DISCLOSURE & WORKING AGREEMENT
All LNG CONSORTIUM PROJECT, LLC complies with all articels of the ICC NON-CIRCUMVENT, NON-DISCLOSURE & WORKING AGREEMENT and requires all MEMBERS to agree and sign the agreement for all transactions. The ICC INTERNATIONAL CHAMBER OF COMMERCE is recognized as the International Governing body for trade and the arbitrator for all disputes worldwide.
Under this agreement it lays out the commissions and terms of the international agreement and LNG CONSORTIUM PROJECT, LLC. involvedment in the deal and the commission of all parties on which the formal contract will be developed for each OIL, LNG, LPG, BUNKER FUEL , AVIATION FIRL, BONNIE CRUDE OIL deal is based.
WHEREAS the undersigned wish to enter into this Agreement to define certain parameters of the future legal obligations, are bound by a duty of Confidentiality with respect to their sources and contacts. This duty is in accordance with the International Chamber of Commerce.
WHEREAS the undersigned desire to enter a working business relationship to the mutual and common benefit of the parties hereto, including their affiliates, subsidiaries, stockholders, partners, co-ventures, trading partners, and other associated organizations (hereinafter referred to as “Affiliates”).
NOW THEREFORE in consideration of the mutual promises, assertions and covenants herein and other good and valuable considerations, the receipts of which is acknowledged hereby, the parties hereby agree as follows:
1. TERMS AND CONDITIONS
The parties will not in any manner solicit, nor accept any business in any manner from sources or their affiliates, which sources were made available through this agreement, without the express permission of the party who made available the source and,
The parties will maintain complete confidentiality regarding each other business sources and/or their Affiliates and will disclose such business sources only to the named parties pursuant to the express written permission of this party who made available the source, and,
That they will not in any of the transactions the parties are desirous of entering into and do, to the best of their abilities assure the other that the transaction codes established will not be affected.That they will not disclose names, addresses, e-mail address, telephone and tele-fax or telex numbers to any contacts by either party to third parties and that they each recognize such contracts as the exclusive property of the respective parties and they will not enter into any direct competition.
We the undersigned herewith referred as the Buyer, under penalty of perjury do hereby irrevocably confirm and irrevocably accept to pay all intermediaries and fee holders at the same time and in a manner as the seller is being paid for each and every transaction of this contract up to the completion of the contract plus rollovers and extensions and in accordance with the bank details to be specified in this contract.
We, the SELLER, irrevocably confirm that we will order and direct our bank to endorse automatic payment orders to the beneficiaries named below; furthermore, We, the SELLER, confirm that all pay orders shall automatically transfer funds as directed into each beneficiaries designated bank account within 1 (one) day after the date of closing and completion of each and every shipment of the product during the contract term plus any/or extensions and rollover of the specified contract. For the purpose of clarity, we confirm that the closing and completion of each and every shipment shall be deemed to take place when the letter of credit issued by the buyer has been drawn down at the counters of the issuing bank.
We, the SELLER agree to provide all beneficiaries with written evidence of the pay orders lodged with our bank together with acknowledgements of their acceptance. Furthermore, our bank shall be instructed to provide duly signed and stamped acknowledgement of this instruction as set out in the annex. Forming part of this agreement. It is understood that for the purposes of this Master Fee Protection Agreement, our bank shall be the same bank and this IMFPA acts as an integral part of it.
We the undersigned being THE SELLER or the seller named legally authorized representative as stated within the signed and legally binding main transaction, contract unconditionally agree and undertake to approve and originate all payments in USD currency to all beneficiaries named below as their rightful and payable commissions. This agreement also acts as a record confirming the commission amounts for each named beneficiary as set out below:-
TOTAL COMMISSION SHALL BE PAID BY THE SELLER/ BUYER AS FOLLOWS: (TOTAL USD $ XXXXXXXXXXXXX)The amount of delivered refinery should be settled as herein stated to be transferred into the account as follows:
A full copy will be foward to each party to the transaction when the SCO is signed and aopproved. Full and complete document contanies 11 pages.
A copy can be received by email@example.com
LNG CONSORTIUM PROJECT MEMBER
THE LNG CONSORTIUM PROJECT, LLC.