AG RE EM EN T
Ter m and termination:
the date mentioned in mentioned in the
Thi s Agreement is executed on eement shall be for a period
(Ag reem ent) betw een IRC CREDIT 2. This Agr term inat ed by eith er party by 1 mon th
the Annexure ITE D, a Anoexure, unless be ~enewed at
ES LIM and will
MA NA GE ME NT SERVIC ies Act, prior notice to the othe r here
in,
rpor ated und er the Com pan CM L. Term inat ion of this
company duly inco IA the option of IRC and liabilities
e at JOY VEL ENC obli gati ons
1956, having its registered offic Agreement, shall not affect any
106
MBA I, here in repr esen ted are accr ued prio r to effective
JVLR JOGESHWARI EAST MU to as of the Oth er Party that
einafter refe rred
by its authorized signatory, (her date of termination.
C'') AN D JAS H EN GIN EE RIN G LTD. the Bill ing & payment:
"IR
il, are as mentioned in 3. As per the consideration agreed in the Annexure, and
party, whose particulars, in deta
ent (hereinafter referred confirmation from IRC
the Anncxure of this Agreem after first obtaining the written
Par ty''). The expr essi ons shall, amo unt to be invo iced, the Oth er Part y
to as "the Other CML on the
tent with the con text or 7 days of subsequent mon th
unless repugnant to or inconsis shall send its invoice within
n and incl ude (as the case may rts and IRC CM L shall pay the
meaning thereof, mea along with repo
s, adm inis trato rs, wor king days of receipt,
be) their legal heirs, exec
utor undisputed amount within 30 Oth er Party
ns. on and veri fica tipn . The
successors and assig subject to validati or all tax
onsi ble for any
WHEREAS: ESfa shall be fully liable and resp rns, etc.
NA GEM ENT SER VIC , incl udin g filin g of retu
1. IRC CRE DIT MA and Risk related requirements
agem ent
LTD is engaged m Risk Man Conditions: ,
as per the
and Receivable Party shall provide the Services
Assessment Deb tor Analysis serv ices , 4. The Oth er
.
avail cert ain time to time
management and is looking to requirements of IRC CML from ble for and
to provide, and IRC Party shall be liable and responsi
which the Oth er Party offered y on non- 5. The Oth er
ing out of the
to enga ge the Oth er Part all risk s and con sequ ence s aris
CM L agreed also assume
conditions agreed sub -con trac tor related
exclusive basis, on te11Ils and Services being provided I and
herein. issues. , ,
T WI TN ESS ETH AS rights associated with IRC
NO W TH IS AG RE EM EN 6. The intellectual property
FOLLOWS: CML shall always vest with IRC CM L only.
s: er Part y shal l mai ntai n complete confidentiality
Ser vice
ed to be prov ided by the Oth er 7. The Oth tion of IRC CM L or such othe r
1. The services agre , of any or all informa
back grou nd veri fica tion l, that it com es to be in
Party herein shall include: (I) KYC, information, that are confidentia
of doc ume nts othe r than ~bli gati on shall survive the
of assets, checking othe r offic e possession' of; and , this
ables and Agreement.
supply of com pute r consum of termination or expiration of this
ices and Var ious Kin d nd, hold harmless, indemnify
automation related serv 8. The Oth er Party shall defe
Business Sup port Services whi
ch can incu rred from L frohl and against all
and keep indemnified IRC CM
aris ing out of acts and .
time to time. losses, damages, claims, etc.,
Part y, its sub -con tractors, etc.
deeds of the Oth er
not assi gn its rights and
9. The Oth er Party shall
Agr eem ent.
obligations under this
1
er Part y shal l at all time s be com plia nt of
10. The Oth
ents/licenses, including
stat utor y/ regulatory requirem
the exte nt app lica ble. The Oth er Part y
labour laws, to
le and responsible for
shall be and alone be fttlly liab
out of any non -com plia nce in
any consequences arising
lve IRC C:tv[L of any
this regard and shall fully abso
rd.
such consequences in this rega
to and finally settled
11. Any dispute shall be referred
by IRC CML, con duc ted
by sole arbitration app oint ed
ion and Conciliation Act
in accordance wi~ Arbitrat
as Eng lish and seat, place & venu~
1996, with language
Arb itra tor shall be final
' at Mumbai. The award of the
and binding on the Part ies.
erne d by and con stru ed in
12.This Agreement shall be gov sub ject
accord_an~e the laws of Indi a and shall be
Cou rts in Mum bai.
to the 1unsdict1on of the
