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Mou Peef Marine

This memorandum of understanding establishes a joint venture between PEEF MARINE GLOBAL SERVICES LIMITED and BELLAFEM OIL AND GAS CONSULTING SERVICES LIMITED to cooperate on arranging financial transactions for mutual benefit. PEEF MARINE will be entitled to 60% of contract sums for any jobs secured with BELLAFEM receiving 50% of the remaining 40%. Both parties will split any remaining profit equally. The agreement is valid for one year and protects confidential information exchanged between the parties.

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Talha A Ahmad
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311 views6 pages

Mou Peef Marine

This memorandum of understanding establishes a joint venture between PEEF MARINE GLOBAL SERVICES LIMITED and BELLAFEM OIL AND GAS CONSULTING SERVICES LIMITED to cooperate on arranging financial transactions for mutual benefit. PEEF MARINE will be entitled to 60% of contract sums for any jobs secured with BELLAFEM receiving 50% of the remaining 40%. Both parties will split any remaining profit equally. The agreement is valid for one year and protects confidential information exchanged between the parties.

Uploaded by

Talha A Ahmad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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JOINT VENTURE CO-OPERATION ON TRANSACTIONS.

MEMORANDUM OF UNDERSTANDING

BETWEEN

PEEF MARINE GLOBAL SERVICES LIMITED

AND

BELLAFEM OIL AND GAS CONSULTING SERVICES LIMITED


This Memorandum of Understanding is made and entered into effective as of this
_07TH _ day of February, 2022, by PEEF MARINE GLOBAL SERVICES LIMITED of
KM3 DSC EXPRESSWAY, OPPOSITE LEVANT CONSTRUCTION, OTOKUTU
JUNCTION, DELTA STATE, NIGERIA and represented by AMB.PRINCE EBIMENE
FETIMI herein referred to as the First Party and BELLAFEM OIL AND GAS
CONSULTING SERVICES LIMITED of- 120 BOSUN ADEKOYA STREET, ONIRU,
LAGOS NIGERIA .and represented by ALKALI MOHAMMAD herein referred to as the
Second Party (Each of The PEEF MARINE GLOBAL SERVICES LTD, and
BELLAFEM OIL AND GAS CONSULTING SERVICES LIMITED are sometimes
referred to herein as a “Party” and, collectively, as the “Parties”). Except as otherwise
provided below, the terms and conditions of this Memorandum of Understanding are
binding.

PARTIES AND PURPOSE

The undersigned are potentially and mutually desirous of doing business with respect to
the arranging of a financial transaction in cooperation with one another and with potential
third parties for the mutual benefit of all. It is their intention that the information
exchanged among the signatories in the course of doing business, as well as the
documents which will be generated subsequent to the execution of this Agreement,
including but not limited to Buyers, Financers and Sellers identity, their websites or any
electronic information and data, letters of intent, full corporate offers, bank comfort
letters, contract terms and conditions, project plans and details, business and finance
plans, financial and banking details or pre-advised payment instruments, and/or any
information contained in such documents, will not be passed, under any circumstance, to
another intermediary or broker or trader of any other company or private person who is
not an end buyer or end supplier, without prior specific written consent of the party or
parties generating or without proprietary rights to such information and/or
documentation.
JOINT VENTURE CO-OPERATION ON TRANSACTIONS.

This Agreement shall obligate the undersigned parties and their partners, associates,
employers, employees, affiliates, subsidiaries, parent companies, nominees,
representatives, successors, clients and assigns (hereinafter collectively referred to as
‘The Parties’) jointly, severally, mutually and reciprocally for the term of and to the
performance of the terms and conditions expressly stated and agreed to below.

NOW, THEREFORE, in consideration of the mutual promises and covenants


contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

Agreement

1. The Parties agree to negotiate in good faith following the execution of this
Memorandum of Understanding in order to pursue the Award of Service
Contracts and Procurement of Items specified by the Awarding Companies
(International Oil Companies) to be given to PEEF MARINE GLOBAL
SERVICES LIMITED for execution. While BELLAFEM OIL AND GAS
CONSULTING SERVICES LTD is expected to receive an agreed portion of the
expected profit from the ultimate beneficiary as compensation for the role played
in securing the Award Letter and a Letter of Instruction to Mobilize to site.

2. PEEF MARINE GLOBAL SERVICES LIMITED confirms that it has the requisite
technical know-how to handle jobs of the nature being sort for and BELLAFEM OIL
AND GAS CONSULTING SERVICES LTD confirms that it has the much required
connections to play the role of securing the Jobs for the mutual benefits of both parties
and all involved.

3. Both parties agree that PEEF MARINE GLOBAL SERVICES LIMITED shall be
entitled to 60% of any contract sum as the real amount to execute any contract Job
secured.

4. Both parties agree that BELLAFEM OIL AND GAS CONSULTING SERVICES LTD
will be entitled to 50% of the remainder of 40% left from the total amount of the secured
Job. Hence it is hereby agreed that, both parties will split the available profit on a 50/50
basis. Both parties shall be responsible for settling their facilitators for the transaction

5. Both parties agree that this MOU shall hold for a period of 1 year and parties could
seek extensions.

6. Both parties also agree that other terms and information required for the protection of
all but not captured in this MOU will be included through written request after the
endorsement of this MOU.
JOINT VENTURE CO-OPERATION ON TRANSACTIONS.

AGREEMENT NOT TO DISCLOSE The Parties irrevocably agree that they shall not
disclose or otherwise reveal directly or indirectly to any unauthorized individual or entity
any confidential information provided by one party to another, including but not limited
to contract terms, product information or manufacturing processes, prices, fees, financial
agreements, schedules and information concerning the identity of sellers, producers,
buyers, lenders, borrowers, consultants distributors, refiners, manufacturers, technology
owners, or the representatives of any of the above, as well as names, addresses, principals
or telex/fax/telephone numbers, references to product or technology information and/or
any other information deemed confidential or privileged within the broadest possible
scope of The Project or The Transaction without prior specific written consent of the
party or parties generating or with proprietary rights to such information.

AGREEMENT NOT TO CIRCUMVENT The Parties agree not to circumvent or


attempt to circumvent this agreement in an effort to gain fees, commissions,
remunerations or considerations to the benefit of the one or more of The Parties with the
full knowledge and acquiescence of all necessary Parties, whether or not such fees,
commissions remunerations or considerations gained through circumvention would
otherwise be deemed the rightful property of any one or several of The Parties.

FORCE MAJEURE Each of the Parties shall not be considered or adjudged to be in


violation of this Agreement when the violation is due to circumstances beyond its
reasonable control, including but not limited to Acts of God, natural disasters, civil
disturbances, war, fire, floods, strikes and failure of third parties to perform their
obligations to either Party. As a condition to the claim of no-liability the party
experiencing the difficulty shall give the other prompt written notice, with full details
following the occurrence of the cause.

GOVERNING LAW. This Memorandum of Understanding shall be governed in all


respects by, and be construed in accordance with relevant International Laws governing
Agreements.

TERMINATION. This Memorandum of Understanding may be terminated: by mutual


written consent of all of the Parties hereto on completion of the transaction governing this
Memorandum of Understanding. Upon termination of this Memorandum of
Understanding, the Parties shall have no further obligations hereunder.
JOINT VENTURE CO-OPERATION ON TRANSACTIONS.

IN WITNESS WHEREOF, the Parties have executed this Memorandum of


Understanding to become effective as of the date first written above.

[Party 1]

COMPANY SEAL/SIGNATURE

Company Name : PEEF MARINE GLOBAL SERVICESLIMITED

Name : AMB.PRINCE EBIMENE FETIMI

Designation : C.E.O.

Date : 07th February, 2o22

[Party 2]

COMPANY SEAL/SIGNATURE

Company Name : BELLAFEM OIL AND GAS CONSULTING SERVICES


LIMITED
Name:
Representing : C.E.O.

Date : 07th February, 2o22


JOINT VENTURE CO-OPERATION ON TRANSACTIONS.
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