Adaobi Silva

CONTRACT AGREEMENT BETWEEN ………………………… (THE CONTRACTOR) AND MESSRS. JMT PLUS INTEGRATED LIMITED (THE COMPANY) CONTRACT AGREEMENT This Agreement is made the _____ day of June, 2019. BETWEEN …………………………………….., Maitama, Abuja, (hereinafter referred to as ‘THE CONTRACTOR’ which expression shall where the context so admits include his heirs, assigns, executors and successor-in-title) of the one part. AND MESSRS. JMT PLUS INTEGRATED LIMITED RC No-, a company registered under Companies and Allied Matters Act, of Suite 405, The Capital Hub Plaza, Banex, Gwarinpa Express-way, Jahi, Abuja, (hereinafter referred to as ‘THE COMPANY’ which expression shall where the context so admits include his heirs, assigns, executors and successors-in-title) of the other part. WHEREAS 1. The Contractor agrees to undertake the contract awarded by the ……………………………………………………………………………………………… ……………………………………………………………………………………………… ……………………………………… only, inclusive of taxes. 2. A Bank Account shall be opened by and with The Contractor as the sole signatory, payment of total contract sum shall be made to the said account. FEES The Company’s fee shall be 16% of the total contract sum. ACCOUNT 1. A Corporate Current Account with Zenith Bank Plc. shall be opened for the payment of the total contract sum, with the Contractor as the sole signatory to the account. 2. The Company agrees that the payment of the total contract sum must be made to the Corporate Current Account with Zenith Bank Plc. 3. The Company agrees to relinquish all rights to the Corporate Current Account with Zenith Bank Plc. to the Contractor once opened. 4. The Corporate Current Account with Zenith Bank Plc. shall subsist for the duration of the contract or until otherwise stated by the Contractor. DURATION This Agreement shall subsist until the contract is executed and all payments duly paid. THE STAKE It is hereby expressly agreed that the terms herein solely operate to protect the agreement between THE CONTRACTOR and THE COMPANY. OBLIGATIONS OF THE PARTIES a. Parties agree to mutual cooperation and collaboration to ensure the effective execution of this agreement. b. The rights and obligations of the parties to this agreement are non-transferable. AGREEMENT BINDING The provisions of this Agreement shall be binding upon all parties and supersede any other agreement or resolution. MUTUAL INDEMNITIES The parties hereby undertake to indemnify one another against all liabilities, claims, demands, actions, cost, damages or loss arising out of any breach by one party of any of the terms of this agreement. BREACH Any breach of the terms set forth in this Agreement, entitles each party to seek redress in any court of law with requisite jurisdiction in Nigeria. GOVERNING LAW This Agreement shall be governed by the Laws of the Federal Republic of Nigeria. IN WITNESS WHEREOF the parties have set their hands and seals/signature the date and year first above written. SIGNED, SEALED AND DELIVERED By the within named …………………………. ‘The Contractor’ _____________________ In the presence of; Name: ______________________________________________________ Address: ____________________________________________________ Occupation: __________________________________________________ Signature: ___________________________________________________ The common seal of the within named MESSRS. JMT PLUS INTEGRATED LIMITED ‘The Company’ is subscribed and duly delivered ___________________________ DIRECTOR In the presence of; Name: ___________________________________________ Address: ___________________________________ Occupation: _____________________________________ Signature: ________________________________________ ________________________ SECRETARY