Memorandum of Agreement-gsi Rev1

7/27/2019 Memorandum of Agreement-gsi Rev1

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MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement made and executed, byand between:

SJCLC IT SERVICES, a sole proprietorship business, dulyorganized and existing under Philippine Laws with residence andpost office address at Talisay City represented herein by itsmanaging owner, ELIAS SAAVEDRA,, hereinafter referred to asthe PROVIDERof I.T. Services;

-and-

GOLDENTEK SOLUTIONS INC. (GSI), a stock corporation dulyorganized and existing under Philippine Laws with residence andpost office address at 5F:501, Club Ultima - Tower II, OsmenaBlvd., Cebu City represented herein by its President, NOLITO

DAYANAN, hereinafter referred to as the BUSINESS PARTNERof the I.T. Services of the Provider.

Witnesseth:

For purposes of brevity, the following acronyms are beingadopted in this agreement;

a. PBC - for Provincial Business Centerb. MBC - for Municipal or City Business Center

c. IBP - Individual Business Partner

The parties hereby bind themselves to undertake a Memorandumof Agreement for the purpose of marketing www.pinoychikka.comand such other I.T. Products and Services provided by SJCLC ITSERVICES under the following terms and conditions, to wit:

1. The PROVIDER shall give the BUSINESS PARTNERthe exclusive office rights as official ProvincialBusiness Center (PBC) for the Province of Cebu

for the sole purpose of marketing, conducting trainingsto business network associates, specifically theIndiviual Business Partner (IBP), & assist thedevelopment of Municipal/City Business Centers
http://www.pinoychikka.com/http://www.pinoychikka.com/


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Executed by and between SJCLC IT SERVICES & GOLDENTEK SOLUTIONS INC.

(MBC) in the Province of Cebu of all the services andproducts of the PROVIDER;

2. The PROVIDERshall give full technical support to the

BUSINESS PARTNER in order to ensure qualityproducts and services catered to the public;

3. Both parties agreed that as a PBC, the BUSINESSPARTNERshall be awarded and shall enjoy a BusinessShare of 5%, less applicable tax, of the TotalAdvertisement and Business generated of all products& services marketed in the networking system in theProvince of Cebu regardless the sale is consummatedoutside the province but being advertise or

implemented in the province.

4. Both parties agreed that for every sales directlytransacted either by the PBC and its affiliate MBC, and

associate IBP (and to all member of the businessnetwork of the said province) the following businesssharing scheme shall apply;

a. 20% of the total consideration which can be

directly taken from the proceeds less any & allapplicable tax.

b. 5% on the sales volume of the 1st Level IBP which will be deposited directly to your account nolater than 15 days from the end of each month.

c. 5% on the sales volume of the 2nd Level IBP which will be deposited directly to your account nolater than 15 days from the end of each month.

5. Both parties agreed that the BUSINESS PARTNER is

not constrained to transact business outside itsjurisdiction. Hence, it is allowed to do businessanywhere in the country and in the world.

6. Both parties agreed that any & all other salesassociate, IBPs, coming from different ProvincialBusiness Centers may likewise transact business intheir area.

7. The PROVIDERshall promptly ensure that incentives,commissions, packages and/or perks be issued,released, given, awarded and disposed, within areasonable time to the BUSINESS PARTNER, (as wellas the share of their associate MBC & IBP) asstipulated in item 4. The provincial business share of

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PBC, as stipulated in Item No. 3, shall likewise bereleased no later than on 15th of each month subject tothe conformity of both parties of the amount of total

sales volume of the province of the applicable monthasmay be determined by the accounting system designedfor that purpose to duly verify all accounts and thevalidity of all documents properly submitted andindorsed to the PROVIDER.

8. The PROVIDER shall adopt a strategic scheme, plan,and disbursement policy in order to avoid delay as mayresult to a business compromise affecting the salesperformance of the BUSINESS PARTNER, the latters

derivative MBCS & IBPS;

9. The PROVIDER, upon consultation with theBUSINESS PARTNER when need arises, may createproduct lines that may be productive and viable to themarket;

10. The PROVIDER in partnership and in cooperation withthe BUSINESS PARTNER may adopt marketingstrategy to bolster projected sales vis--vis thetechnical support of the former;

11. The PROVIDERis the on-line or web technical supplierof the products and services being marketed by theBUSINESS PARTNER, hence any technical complaints,subscription postings of the clienteles or technicalarrangements relative thereto shall belong to thePROVIDER;

12. The BUSINESS PARTNER shall see to it that theproducts and services of the PROVIDER will beproperly marketed according to the mission and visionof the PROVIDER that is to give quality products andservices to the public;

13. The BUSINESS PARTNER shall see to it that theiroffice will be use solely for purpose of marketing theproducts & services of the PROVIDER;

14. The BUSINESS PARTNER being the front liner andpremier distributor of the products and servicessupplied by the PROVIDERshall be given incrementaland exclusive rights to operate a PBCoffice to affectample representation to the public in their awarded

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business jurisdiction or area. In view thereof, theBUSINESS PARTNERshall be given visible slot that isstrategically found on the web portal of

www.pinoychikka.com on the specific province ascovered by this agreement, so that the existence of theBUSINESS PARTNER as PBC will be properlyrecognized, advertised, and represented for and onbehalf of the PROVIDER.

15. To preserve harmony among PBCs, no BUSINESSPARTNER is allowed to advertise their company, evenif they are willing to pay for the advertisementinvestment, on provincial areas other than their own.

16. The BUSINESS PARTNER shall see to it that theaccreditation ofMBCs under them shall be completedand developed within a two (2) year period from thesigning of this agreement.

17. The BUSINESS PARTNER shall open the businesscenter no later than sixty (60) working days from thesigning of this agreement

18. There is no employer-employee relationship betweenthe PROVIDERand the BUSINESS PARTNER;

19. The duration of the partnership of the PROVIDERandthe BUSINESS PARTNERshall remain as long as theweb portal of www.pinoychikka.com or its derivativename, its infrastructure or on-line technical backboneand other I.T. services, continuous to exists. However,business performance ofBUSINESS PARTNERwill be

subject for evaluation and audit every after five yearsof operation or maybe less if needed to ensure mutualsuccess of both parties in the implementation of allprograms and development of the business.

20. Any violation of the foregoing will warrant thecancellation of the Memorandum of Agreement withinthirty (30) days upon notice initiated by either of theparties;

21. This Memorandum of Agreement shall become effectiveupon signature of both parties and implementation willbegin immediately and shall continue to be validhereafter until written notice is given by either party

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http://www.pinoychikka.com/http://www.pinoychikka.com/http://www.pinoychikka.com/http://www.pinoychikka.com/


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Memorandum of Agreement-gsi Rev1

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