MEMOREMDUM OF
UNDERSTANDING
This
mutual memorandum of understanding is made on 16th January, 2013
between the below parties:
Mohammad
Nadim Haider Rouf- represents Managing Director of RPM Garments Ltd, address: Mosharaf Tower
( 3rd and 4th floor), Rajbari road, Dhaka-1213.-
First Party
Between
Md.Rakibul
Hasan ( Al-Amin)- proprietor of Rabbi swing center, address: Khaleque Sharker
Market, ( south of new surma hotel), maymansing road, chandana-chourasta,
Gazipur.- Second party
Both
party will be mutually agreed to run
factory of sub contact business as soon as possible to follow below terms and
conditions:
1)
First
party will be responsible to pay monthly expanses as below:
A) Factory Monthly Rant for only 3rd
floor
B) Factory Monthly Electricity
Bill per printer bill.
C) Factory others utility and
telephone bill.
2)
First
Party----RPM garments owner will provide – machine and other equipment facilities as
listed below:
1) Machine: Plain Machine: 2o pcs/
Flad Lock Machine: 10 pcs / Over Lock Machine: 13pc,Cutting Machine-01pcs, GSM
Machine-01pcs, Weight Machine-01 pcs, Label Cutter Machine-01pcs,fire
extinguisher-05 pcs,Numbering Machine-01pcs, iron table set-05pcs, line
iron-01pcs, compresher machine-01 pcs, Hit seal machine-01psc, exhust machine:
02 pcs,MGM cutter-01 pcs, rib cutter-01pcs, cutting table-30sft, finishing
table-08pcs, Boiler-01pcs, weight Scale Machine 01pcs, Scisser-10pcs, servicing
bill-01 packet and Generator etc.
2) Second party will be responsible
marketing and taking sub contact order of knit garments with profitable price
from outsource.
3) Second party will be
responsible to pay by cash as a working capital and day to day business
activity with petty cash such as below:
A) Worker wages or labor
contractor bill day to day and monthly.
B) Monthly Staff Salary
C) Loose tools , entertainment and
conveyance
D) Generator disel bill.
5) 1st party also responsible
to manage and pay Machine rent if require as per work load.
4) Jute and other left over sales
will be added in the company income or sales account.
5) Profit and loss sharing ratio
between the parties 50%-------50%
6) Profit calculation is below:
Total Monthly Sub contact bill and other bill XXXX
Less:
1st party paid (Rent, electricity and other utility bill) (XXX)
Less: 2nd party paid
(contactor bill+ staff salary+ other working cost) (XXX)
Net Profit and loss is divided
50% --- 50% between the parties XXX
8) Staff recruitment will be controlled by the
first party and they are designated as RPM family. But second party will follow
up to them properly for the good selves of the company.
9)
1st party is the solely power and operate Bank account and books of
account by own of this sub contact activity from one hand and the second party
is a business and working partner of RPM Sub contact activity and also they can
see the accounts in any time. All payment and receipt will be maintains from
accounts department by taking voucher and signature as per proper manner.
10)
Second party will not take any such loans and advance from outside people or any
other organization by using the name of RPM Garments Ltd, if they do, they will
fully responsible to pay.
11)
Every Friday will have a management meeting with the both party in the factory
building to discuss business growth and accounts and other factory related
activity.
12) this agreement will be Valid on 31st
July,2013. it will be renewed further mutually both parties will think fit.
10)
this contact also dismissed if it is not getting profit starting from next 2nd
month.
Both
party will sign below in front of the witness:
__________________ ________________________
Ist
Party 2nd
Party
Md.Nadim
Haider Rouf Md.Rakibul
Hasan (Alamin)
Witness:
1)
2)
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