AGREEMENT
FOR
ACQUISITION AND OPERATION OF A 2 MILLION BARREL/MONTH X 12 MONTHS
CRUDE OIL EXPORT/SALES LICENSE, UNDER THE ADMINISTRATION OF THE
MINISTRY OF POWER AND PETROLEUM OF THE VENEZUELAN GOVERNMENT
BY AND BETWEEN:
Alvarez Bellorin
(Business Dev. Director, Venezuelan Ministry of Power And
Petroleum)
WHOSE ADDRESS FOR SERVICE IS
Av. Sanatorio del Avila, Complejo Ciudad Center, Torre B, Piso 4, Boleita, Caracas
1075, Venezuela
HEREIN REFFERED TO AS PARTY A
AND
XXXXXXX
WHOSE ADDRESS FOR SERVICE IS
XXXXXXXXX
HEREIN REFFERED TO AS PARTY B
THIS AGREEMENT IS MADE THIS DAY OF 27th Day of August 2017
BACKGROUND
The provisions of this Contract Agreement constitute the terms and
conditions for the acquisition and operating of a Crude Oil (Product)
Export/Sales License up to 2,000,000 barrels per month for 12 months (1
years) under the administration of the Venezuelan Ministry of Power And
Petroleum.
PARTY A ______________________ PARTY B ______________________
OBLIGATION OF PARTNERS:
4.1. The obligations of PARTY A are to:
Handle the facilitation for award, and direct the operations of the
Crude Oil Lifting/Sales Licenses.
Facilitate the execution of a startup 12 months Sales/Purchase
Contract Agreement between the Venezuelan Ministry of Power
And Petroleum (as seller/Title holder), Party B (as license
holder/Exporter) and Fawley Refining Company (UK) Limited (as
buyer).
Oversee monthly Product allocation and authority to load approvals,
Loading procedures, shipment etc.
Look out of more business opportunities for the partnership within
the Venezuelan Ministry of Power And Petroleum and other areas of
strength.
4.2. WHEREAS, the obligations of PARTY B are to:
Involve in the decision making process of the partnership.
Co-participate in the obligations leading to securing of the license and
further initial start-up operations prior to first profit to the
partnership.
Provide the operations bank account for the license operations,
including receiving of commission payments, and overseeing the
disbursement/sharing of commissions receivable from the
operations of the license to the other parties/interest groups as
indicated.
Party Bs nominated License Operations Bank Account is herein given
as:
Bank Name:
Bank Address:
Account Name:
Account No.:
Swift Code:
PARTY A ______________________ PARTY B ______________________
IBAN:
DISTRIBUTION FORMULAR
This proceeds of each monthly sales will be share and distributed by party B
on a 60/40 basis and on the terms described below:
A. 60% will be paid to the Venezuelan Ministry of Power And Petroleum's
payments receiving agent in the United Arab Emirates to the banking details
below:-
This Contract Agreement indicates that both parties have agreed to
share monthly commission revenues on the following terms:
Bank Name: Emirates NBD
Bank Address: Emirates Tower. Sheikh Zayed Rd, Dubai, U.A.E
Account Name: Zafar Holdings & Investments LLC
Account No.: 1024725236302
Swift Code: BILAEAD
B. 40% will be shared equally (50/50) between party A and party B. Party A's
receving bank account details are given below:
Bank Name: ABC Banking Corporation Ltd
Address: 2nd Floor, ABC Centre, Military Road, Port-Louis
Mauritius
SWIFT Code: ABCKMUMU
Beneficiary: Grecko Consulting Limited
Account No.: 1001681901006 (USD)
Any cost spent by any Party related to this Agreement shall be reimbursed
from net proceed/profit received under this Agreement prior to any
disbursements/sharing.
PARTY A ______________________ PARTY B ______________________
Subject to the terms and provisions hereof, this Agreement shall
continue in force until the sales and supply of the total quantities
of Products is completed on the licenses or cancelled through
mutual agreement.
This agreement is entered into on the later of the dates respectively
inserted below by each of the parties when fixing their signatures hereto
The both parties with full legal, corporate authority and responsibility,
under penalty of perjury, certifies, represents and warrants that they
have agreed to engage in this partnership agreement. Both parties make
an irrevocable firm commitment to work together in achieving the
objectives stated herein throughout the duration/life span of the license
and warrants that they can fulfill the requirements of this Agreement.
NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND
PROMISES HEREIN CONTAINED, THE PARTIES AGREE AS FOLLOWS:
GOVERNING LAW AND JURISDICTION:
This document shall be governed and construed in accordance with
current English or I.C.C 400/500/600 signed between partners NCND
laws.
ARBITRATION:
All parties agree to refer any disputes between the parties arising out of
or in connection with this agreement including any questions regarding
its existence, validity or termination to arbitration rules of the
international arbitration center (I.A.C). The appointed arbitrator shall
hold the proceedings in any country chosen by the parties and the rules
of the IAC shall apply.
EFFECTIVE DATE OF AGREEMENT AND TERM:
This Agreement shall come into effect on the date that the Agreement is
signed by both parties in the Contract Agreement and shall be valid
for the total period of time the license remains valid, even if
PARTY A ______________________ PARTY B ______________________
extended.
CONFIDENTIALITY, NON-DISCLOSURE AND NON CIRCUMVENTION:
The Parties to this Agreement each agree that this Agreement shall be
kept in the strictest confidence between them.
The Parties hereby agree not to circumvent one another or disclose the
identities of the Parties to third parties and to abide by the
standards of International Chamber of Commerce (ICC) regarding
Non-Circumvention and Non-Disclosure.
The Parties agrees not to knowingly furnish, directly or indirectly
Information concerning this transaction to a third party.
THE PARTIES AGREE THAT FAX/EDT SIGNED AND SEALED COPIES OF THIS
AGREEMENT WILL BE IN FULL FORCE AND EFFECT.
EDT (ELECTRONIC DOCUMENT TRANSMISSIONS)
EDT (ELECTRONIC DOCUMENT TRANSMISSIONS) SHALL BE DEEMED VALID AND ENFORCEABLE
IN RESPECT OF ANY PROVISIONS OF THIS CONTRACTAGREEMENT. AS APPLICABLE, THIS
AGREEMENT SHALL BE:- INCORPORATE U.S. PUBLIC LAW 106-229, ELECTRONIC SIGNATURES IN
GLOBAL AND NATIONAL COMMERCE ACT OR SUCH OTHER APPLICABLE LAW CONFORMING TO
THE UNCITRAL MODEL LAW ON ELECTRONIC SIGNATURES (2001) AND ELECTRONIC COMMERCE
AGREEMENT ( ECE/TRADE/257, GENEVA, MAY 2000) ADOPTED BY THE UNITED NATIONS CENTRE
FOR TRADE FACILITATION AND ELECTRONIC BUSINESS (UN/CEFACT). EDT DOCUMENTS SHALL BE
SUBJECT TO EUROPEAN COMMUNITY DIRECTIVE NO. 95/46/EEC, AS APPLICABLE. EITHER
PARTY MAY REQUEST HARD COPY OF ANY DOCUMENT THAT HAS BEEN PREVIOUSLY
TRANSMITTED BY ELECTRONIC MEANS PROVIDED HOWEVER, THAT ANY SUCH REQUEST SHALL
IN NO MANNER DELAY THE PARTIES FROM PERFORMING THEIR RESPECTIVE OBLIGATIONS AND
DUTIES UNDER EDT INSTRUMENTS.
PARTY A ______________________ PARTY B ______________________
THIS DOCUMENT IS SIGNED AND ACCEPTED BY THE PARTIES WITHOUT
CHANGE AND ELECTRONIC SIGNATURES SHALL BE VALID AS A HAND
SIGNATURE.
PARTY A
Full name: Alvarez Bellorin
Represented by: Alvarez Bellorin
Signature/Seal:
Date: 27th August 2017
PARTY B
Full name:
Represented by:
Signature/Seal:
Date:
PARTY A ______________________ PARTY B ______________________
