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Forex Investment Agreement

This agreement is between Royal Brand Nigeria Limited and Olamijulo Oluwatoduroti Andrew regarding a 1 year forex investment. The investor will provide N1,000,000 for trading and is entitled to a 10% annual return. If Royal Brand defaults on payment after 15 days, it has a 7 day grace period before incurring a 2% penalty. The investor can terminate if default exceeds 90 days. Royal Brand is responsible for any investment losses and 50% of losses if the investor rolls over the investment. The agreement is governed by Nigerian law and disputes will be resolved through arbitration.

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161 views6 pages

Forex Investment Agreement

This agreement is between Royal Brand Nigeria Limited and Olamijulo Oluwatoduroti Andrew regarding a 1 year forex investment. The investor will provide N1,000,000 for trading and is entitled to a 10% annual return. If Royal Brand defaults on payment after 15 days, it has a 7 day grace period before incurring a 2% penalty. The investor can terminate if default exceeds 90 days. Royal Brand is responsible for any investment losses and 50% of losses if the investor rolls over the investment. The agreement is governed by Nigerian law and disputes will be resolved through arbitration.

Uploaded by

Muhammed
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 DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 6

FOREX INVESTMENT AGREEMENT

BETWEEN

ROYAL BRAND NIGERIA LIMITED

AND

OLAMIJULO OLUWATODUROTI ANDREW

Prepared By:

OLUWASEGUN ODUNSI ESQ, LLM.


FOR: KINGY’S ATTORNEYS
LEGAL PRACTITIONERS,
SUIT 16, AMA-BEC PLAZA
OFF ADDOH ROAD,
LEKKI-AJAH, LAGOS.
07046228252
kyattorneys@gmail.com
info@kingysattorneys.com
www.kingysattorneys.com

This Agreement is made and effective from the __________ Day of September, 2020
BETWEEN:

ROYAL BRAND NIGERIA LIMITED, a limited liability company incorporated under


the Laws of the Federal Republic of Nigeria with its registered address at No 76, Idowu
Taylor Street, Victoria Island Lagos hereinafter referred to as the ‘the Company”, which
expression shall, where the context so admits, include its successors-in-title and assigns
of the ONE PART.

AND

OLAMIJULO OLUWATODUROTI ANDREW of No 44c, Olufolawe Avenue, Oluoyle


Estate, Ibadan Oyo State herein after referred to as hereinafter referred to as “the
Investor”, which expression shall, where the context so admits, include its successors in
title and assigns on the OTHER PART.

Collectively referred to as the ‘Parties’ or incidentally as a ‘Party’.

THE TERMS OF AGREEMENT


Whereas:
1. The company is into the business of providing solutions, enhancing and
managing financial gains by helping Investors invest in top range businesses,
which includes but not limited to, forex trading.
2. The company acts as an agent to credible links, to forex opportunities offered by
forex traders and in its capacity is seeking investors who are willing to invest in
the forex trading industry.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein


contained, the parties hereto, agree as follows:

SCOPE OF WORK
The parties desirous of creating a reputable bond agrees to be supportive of each other
wherever and whenever the need arises during the term of this agreement for the good
of the business.

ROLES OF THE PARTIES


1. That the investment plan upon which the investor is willing to susbscribe to is
for a 1[One] Year period, with an initial sum of N1,000,000 [One Million naira,
only] which entitles the investor to the trading capital and accrued interest
therefrom.
2. That the company shall manage and maintain the accounts of the investor
diligently and shall give monthly report to the investor.
3. That interest [return on investment] shall be due from the 15th [Fifteen] day after
the 1[One] Year. The investor is however entitled to 10% [ten percent] interest of
his investment.
4. That in a case of default in the payment of the stipulated interest payment on the
15th [Fifteen] day after the 1[One] Year, a further 7 [seven] days period of grace
shall be given to the company to rectify the default. Where such default is not
rectified within the stipulated 7 [seven] days, an additional 2% [two percent]
interest shall be added to the existing interest rate.
5. That where the default exceeds 90 [ninety] days, in so far as the cause of default
is not as a result of a natural disaster or event which is not reasonably within the
control of the company, then the investor shall be at liberty to terminate the
agreement and recall his investment capital and may also without prejudice
enforce any other right or interest accruable to him under the agreement.
6. That in the case of any loss of the financial investment of the investor, the
company shall be responsible for same and shall indemnify the investor to the
full extent of the investors’ investment only.
7. That where the investor wishes to rollover his capital at the expiration of the first
6 [six] months, he shall notify the company of his intention to do so. This should
be done 1 [one] month before the expiration of the investment period.
8. That where the investor chooses to roll-over the investment and problem arises
with respect to the business venture, the company shall be responsible for 50% of
the investor’s investment only.
9. That the investor is at liberty to appoint any person, firm or organization to act as
his legal attorney for the purpose of liaising or dealing with the company with
regards to its investment.
10. The investor shall not be liable for any action or claim brought by a third party
against the company, bothering on any negligent act or conduct by the company.

COMPENSATION/REMUNERATION
1. The parties hereby agrees that the INVESTORS makes an initial payment in the
sum of N1,000,000 [One Million naira, only]] as investment to the account
number provided by the COMPANY.
2. The parties also agrees that the INVESTOR shall be entitled to a 10% [ten
percent] interest of his investment which shall only be ripe for withdrawal from
the 15th [Fifteen] days after the 1 [One] year period subscribed for.
3. The parties also agrees further that in the case of default in the payment of the
stipulated interest payment after the agreed 15th [Fifteen] days, a further 7
[seven] days period of grace shall be given to the company to rectify such
default, and if not rectified, an additional 2% [two percent] interest shall be
added to the existing agreed interest rate.
4. The parties also agrees that where the investor wishes to rollover his capital at
the expiration of the first investment, and problem arises with respect to the
business venture, the company shall be responsible for 50% [fifty percent] of the
initial investment only.

TERMINATION

1. That subject to clause 5 of the roles of parties, a party may terminate the
agreement by giving a 30[thirty] days notice of same to the other party in
writing.

CONFIDENTIALITY
1. Parties shall keep the confidential information of each other and shall not, at any
time during or after the term of this Agreement, without prior written consent of
the other, disclose or otherwise make available to anyone, either directly or
indirectly, all or any part of the Confidential Information except when a law
imposes such obligation to disclose.
2. This provision shall survive for a period of 10[ten] years after the expiration or
termination of this agreement.

DISPUTE RESOLUTION
1. That in the event of a dispute, parties shall refer themselves to Arbitration. All
disputes arising from this agreement shall be referred to a single Arbitrator in the
event that the parties can agree upon one; the Chief Judge of the Federal High
Court sitting in Lagos shall appoint one on application by either party. Disputes
shall be subject to the Arbitration Act, Cap 19, and Laws of the Federal Republic
of Nigeria.
2. Each party shall bear the cost of his own Arbitrator.
3. The decision of the Arbitration shall be final and binding on parties.
4. The venue of the Arbitration shall be in Lagos.
GOVERNING LAW
This agreement shall be governed by and construed at all times in accordance with the
Laws of the Republic of Nigeria.

FORCE MAJEURE
Neither party shall be liable for any failure, deficiency or delay in the performance of its
obligations under this Agreement due to any act which shall include, but not limited to,
any natural calamity such as storm, fire, explosion, strikes, war or military action or any
other cause or matter not within the reasonable control of the party alleging occurrence
of force majeure.

GOOD FAITH
Each party represents and warrants to the other that such party has acted in good faith,
and agrees to continue to so act, in the negotiation, execution, delivery, performance,
and termination of this Agreement.

IN WITNESS WHEREOF, this Agreement was signed by the Parties under the hands
of their duly authorized officers and made effective as of the Effective Date.

THE COMMON SEAL of the within-named “The Company”


ROYAL BRAND NIGERIA LIMITED is hereunto affixed

_________________ __________________
SECRETARY
DIRECTOR

SIGNED SEALED AND DELIVERED by the within named [Investor]

OLAMIJULO OLUWATODUROTI ANDREW


…………………………………...

IN THE PRESENCE OF
SIGNATURE ………………………………………
NAME ……………………………………..
OCCUPATION ……………………………………
ADDRESS …………………………………….
DATE …………………………………….

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