Contract

 

between

 

Vijana Baiskeli Centre

PO Box XXXX

Nshamba

 

hereafter called

VBC

 

 

and

 

Mr. XXXX

Of XXX

P.O. BOX XXXX

MULEBA

 

hereafter called

Agent

 

 

dd/mm/yyyy

 

Article 1 - Object of the Contract

VBC entrusts to the Agent the sales of bicycles on its behalf.

 

Article 2 – Modalities of payment

Bicycles will be sold at the agreed price according to the list annexed to the present contract.

The Agent will withhold 10% of the agreed selling price for its own benefit.

The Agent must pay half of the total amount due to the VBC at the delivery of the bicycles and then another quarter of the amount after sale of half of the bikes and a final instalment of a quarter after sales of another quarter of bikes. The Agent must inform VBC on when the following instalment is paid according to the agreement.

Payments must be done on the following bank account by cash or cheque:

NMB

Muleba Branch

Vijana Baiskeli Centre

Account No XXXXXXXXXX

 

Article 3 - Payments

The total value of the bicycles mentioned in Annex 1 is TZS XXXXX

The total amount to be paid to VBC for the bicycles is TZS XXXX

The first instalment to be paid by the Agent to VBC after delivery is TZS XXX

The second and third (final) instalments to be paid by the Agent to VBC is TZS XXXX

 

Article 4 – Delivery notes

While receiving the bicycles, the Agent will sign the delivery note issued by the VBC.

 

Article 5 - General Provisions

5.1       Bicycles are considered sold when they leave the premises of the Agent. Transfer of bicycles from the agent to a sub-agent is to be considered as sale. Theft or damage caused to the bicycles by any event are under the responsibility of the agent.

5.2       Within the framework of this contract, VBC is liable only to the Agent. In the case of subcontracts or other contracts concluded by the Agent, the latter alone is responsible for the acts of third parties and does not engage the responsibility of the VBC.

5.2       The Agent informs VBC immediately and in writing of any exceptional situation arising during the execution of the contract which may endanger its execution and/or require substantial modification of its aims.

 

Article 7 - Annexes

The following document attached to the present contract is deemed to form an integral part of the said contract:

-       List of bicycles (Annex 1)

 

Article 8 - Amendments

Any amendment to the present contract shall be drawn up in writing.

 

Article 9 - Termination

In the event of default by one of the party with the fulfilment of obligation under this contract, the other party may terminate this contract with immediate effect.

In case of termination the VBC will remove the remaining bikes from the premises of the Agent. The agent will pay back to VBC the total amount of bikes sold, having deducted the previous instalments made.

 

Article 10 - Duration

The present contract starts on dd.mm.yyyy and covers the period up to dd.mm.yyyy. By signing this contract it shall come into force with effect of the date mentioned, and it shall end when each party has fulfilled all its contractual obligations.

 

Article 11 - Law Applicable and Court of Jurisdiction

The law applicable to this contract shall be the law of Tanzania. The place of jurisdiction shall be Muleba.

 

Done in two copies this dd mm yyyy at Nshamba

 

Vijana Biskeli Centre                                                       The Agent

 

…………………………………….                                       ………………………………………..

 

…………………………………….                                       ………………………………………..

 

Witness

 

…………………………………….

 

…………………………………….