Terms and Conditions
Invest in Agriculture : Get 2.5% Monthly ROI
Please, carefully read through the fine text, grace yourself with a better knowledge of our investment terms and conditions and proceed whence satisfied.
WHEREAS
The Business Owner is a businessman based in Nigeria and carries out his business primarily under the name Wisdom Kwati Premium Rice.
The Business Owner generally engages and specializes in the business of farming, processing, sale and distribution of premium rice.
The Investor is a businesswoman who carries on business in Nigeria as a silent investor and equity contributor.
The Investor is desirous of investing the investment sum in the business of the Business Owner that deals with the farming, processing, sale and distribution of rice and get Return of Investment (ROI) for such investment.
The Business Owner is also desirous of accepting the investment of the Investor under and subject to the terms and conditions contained in this investment agreement.
NOW THE PARTIES HEREBY AGREE AS FOLLOWS:
A.BUSINESS OF INVESTMENT
The business of the farming, processing, sale and distribution of rice at wholesale and retail outlets in Nigeria and neighbouring countries.
B..INVESTMENT
i.The Investor agrees to invest the sum of N…………………… (………………………………………. Naira Only) in the business of the company.
ii.In the event that the Investor is desirous of increasing the investment sum during the duration of investment, the Investor shall give a notice in writing to the Business Owner and obtain his consent before the Investment sum can be increased.
C..DURATION OF THE INVESTMENT
i.The Duration of the Investment shall be for a period of from the date of the payment of the Investment sum by the Investor subject to renewal by the parties either on existing terms or on such terms as shall be agreed between both parties.
ii.In the event that either of the party’s desire to renew the Investment, such party shall give notice at least one month to the expiration of the investment agreement to the other party stating that the Investment agreement be renewed either on existing terms or on new terms and the new terms shall be clearly stated in the notice.
iii.Where the new terms are agreed to by both parties, such agreed terms shall be contained in a written contract signed by both parties and shall form part of this agreement.
iv.In the event of a collapse or unprofitability of the business of the Investment during the subsistence of the Investment, the Investor shall be entitled to the investment sum.
D..RETURN OF INVESTMENT
i.In return for the investment ("ROI”), the Business Owner agrees to pay the Investor the 2.5% monthly of the Investment sum with such payments to be made to the Investor quarterly (every three months).
ii.The Business Owner shall without fail pay the ROI to the Investor not later than 7 (seven) days after the end of each quarter.
E..DEMAND FOR INVESTMENT
i.The Investor shall be at liberty to demand for the Investment sum or any part thereof PROVIDED ALWAYS that he gives the Business Owner 60 working days’ notice in writing of such intention.
ii.In the event the Investor decides to withdraw from the scheme before the expiration of this contract, the amount so far paid to the Business owner shall be refunded less 30% to the investor at the expiration of 60 working days upon submission of a written application/letter of refund.
MODUS OPERANDI
The business of the Investment shall be carried out with the discretion of the Business Owner and nothing in this investment shall make the investor a shareholder in the company of the Business Owner or get dividends or any payment made by the company of the Business Owner to shareholders or to any person whatsoever in connection to the business of the investment.
PAYMENTS
All payments in this transaction regarding the subject matter of this agreement shall be made either by issuing a bank cheque, draft and other bank instruments in the name of the Business owner or in favor of the Business owner or cash deposits paid directly by the Investor into the Business owner’s designated bank accounts. PROVIDED that upon any payment by the Investor, the Investor shall furnish the Business owner evidence of payment before the Business owner can be bound by such payment and official receipt of the Business owner acknowledging such payment shall be made to the Investor. PROVIDED further that no cash payments shall be made to any individual (staff and non-staff) regarding transactions with the Business owner in contravention to this agreement.
FORCE MAJEURE
Any event, situation or condition such as Acts of God — earthquakes, Storms, Fires, War, Governmental rules, stop-orders, blockades, strikes, prohibition of export/import, accidents and other circumstances beyond the parties’ control shall be force majeure and might occasion a delay in the completion of this project or the discharge of the duties of each party to this agreement. In the event of the occurrence of any of the above events extending over a period reasonable to the execution and consummation of this contract, the time schedule for doing an act with respect to the subject- matter of this agreement may be extended, provided the party affected is notified of such force majeure in writing within forty-five [45] days of its occurrence.
ENFORCEABILITY
The invalidity or un-enforceability of any provision of this agreement shall not affect the validity or enforceability of any other provisions, which shall remain in full force and effect.
VARIATION & AMENDMENT
No amendments of this agreement shall be valid except it is reduced into writing and duly executed by the parties hereto. No variation or amendment of this agreement or oral promise or commitment relating thereto shall be valid unless the same is reduced into writing and duly executed by the parties or their lawful representatives.
DISPUTE RESOLUTION
The parties hereby agree to resolve all disputes arising from the interpretation of the provisions of this agreement amicably or refer the matter to Arbitration by the appointment of one arbitrator to be mutually agreed by both parties and the judgment to be referred to the court for enforcement in accordance with Arbitration and Conciliation Act 2004 in Nigeria. Further to the above, the parties shall in the event of any Arbitration proceedings jointly and equally contribute to cover the cost of the entire proceedings as afore-mentioned. This is without prejudice to any claim[s] for damages, costs or other monetary remedy awarded to either party by the Arbitral panel.
CONFIDENTIALITY AND PUBLICITY
Neither party shall discuss or disclose any information or originate any publicity, news releases or other public announcements written or oral whether to the public press or stockholders or otherwise regarding the terms and conditions of this Agreement, or the performance by either party of its obligations under this Agreement.
However the parties may discuss, disclose or originate publicity, news releases, or other public announcements relating to information which
(a) is or becomes generally available to the public other than as a result of an unauthorized disclosure by either party;
(b) becomes available to either party in a manner that is not in contravention of any applicable laws from a source that is not bound by a confidential relationship with either party; or
(c) either party reasonably determines it is appropriate for disclosure under applicable law or is required to be disclosed by any law or court order or other legal process.
GOVERNING OF LAW
This Agreement shall be construed, governed, interpreted and applied in accordance with the laws, customs and usage applicable in Nigeria.
SEVERABILITY
In the event a court of competent jurisdiction declares any term or provision of this Agreement to be invalid or unenforceable for any reason this Agreement will remain in full force and effect, and either:
(a) the invalid or unenforceable provision(s) will be modified to the minimum extent necessary to make such provision(s) valid and enforceable; or
(b) if such a modification is not possible, this Agreement will be interpreted as if such invalid or unenforceable provision(s) were not a part of this agreement.
COUNTERPARTS
This agreement shall be executed in any number of counterparts, all of which will constitute one and the same instrument and will be an original of this Agreement.