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Multiparty Agreement Template

1. This multi-party agreement is made between various parties, including partners, affiliates, subsidiaries, and assigns, referred to collectively as the "parties". 2. The agreement obligates the parties to not circumvent each other or interfere in transactions and sets rules regarding confidential information. 3. It also establishes how commissions from transactions will be divided and includes provisions for resolving any disputes through arbitration according to South African law.

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0% found this document useful (0 votes)
315 views7 pages

Multiparty Agreement Template

1. This multi-party agreement is made between various parties, including partners, affiliates, subsidiaries, and assigns, referred to collectively as the "parties". 2. The agreement obligates the parties to not circumvent each other or interfere in transactions and sets rules regarding confidential information. 3. It also establishes how commissions from transactions will be divided and includes provisions for resolving any disputes through arbitration according to South African law.

Uploaded by

jonathan.mukumbo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 7

MULTI-PARTY AGREEMENT

This agreement is made effective on the _______________________2024

This agreement shall obligate the undersigned parties, and their partners, associates employers,
affiliates, subsidiaries, parent company, nominees, representatives employees, successors, clients,
and assigns, hereinafter referred to as the (“parties") jointly severally, mutually, and reciprocally for
the terms and conditions expressly stated and agreed to below, and that this agreement may be
referenced from time to time in any document(s) or agreements. The terms and conditions of this
agreement apply to any exchange of information written or oral, involving financial information,
personal or corporate names, contracts initiated by or involving the “parties", and any addition,
renewal, extension, roll-over, amendment, re-negotiation, or new agreement, hereinafter referred to
as the ("project/transaction") for the purchase of all commodities.

WHEREAS the “parties” to this Agreement intend to be legally bound to respect the terms and
conditions and mutual covenants hereinafter set forth;

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the foregoing and the terms
herein set forth, the “Parties” hereto agree as follows:

1. The “parties” intending to be legally bound, hereby irrevocably, agree, and guarantee each other
they shall not, directly or indirectly interfere with, circumvent or attempt to circumvent, avoid,
by-pass, or obviate each other’s interest, or the interest or relationship between the “parties"
with producers, sellers, buyers, brokers, dealers distributors, refiners, shippers, financial
institutions, technology owners, or manufacturers, to change, increase, or avoid directly or
indirectly payment of established or to be established fees, commissions, or continuance of pre-
established relationship or intervene in un-contracted relationship with manufacturers or
technology owners with intermediaries entrepreneurs, legal counsel, or initiate buy/sell
relationships, or transactional relationships that bypass one of the “parties” with any corporation,
producer, technology owner, partnership, or individual revealed or introduced by one of the
“parties” to one another in connection with any ongoing or future "project/transaction".

2. The “party" of this Agreement stipulated in the Sale and Purchase Order, business transaction
(exchange of anything of value), as the Parties or any other person or entity introduced through
engagements here-from, hereby irrevocably undertakes that in term of 5 (five) years from signing
of this Agreement will not enter into any agreement and/or enter into business with party
stipulated in Sale and Purchase Contract as the Seller/Buyer.

3. In the case of breach of the paragraph 2 of this Agreement, is this party obliged to pay other
parties of this Agreement the amount of lost profit pursuant to the specific amount of the
commission for each and every of this parties according to conditions in this agreement as a part
of Sale and Purchase Contract in the term of 5 (five) years.

Page 1 of 7
MULTI-PARTY AGREEMENT
4. Furthermore, the “parties” irrevocably agree that they shall not disclose or otherwise reveal
directly or indirectly, to any third party, any confidential information provided by one party to the
other, or otherwise acquired, particularly, contract terms, relevant information, or manufacturing
processes, prices, fees, financing provided by one party to the other, or otherwise acquired,
particularly, contract terms, product information, or manufacturing processes, prices, fees,
financing arrangements, schedules, or information concerning the identity of sellers, producers,
buyers, lenders, borrower brokers, lenders, distributors, refiners, manufacturers, technology
owners, or the representatives, and specific individual names, addresses, principals,
fax/telephone numbers, references, product or technology information, confidential or and/or
other information, advised by one party (s) to another as being privileged, without the prior
specific written consent of the party (s) providing such information.

5. Commissions, fees, compensation, or remunerations to be paid as part of transaction covering any


undersigned party to this agreement, shall be agreed upon by separate agreement in writing to
the undersigned parties concerned and shall be paid on completion of the transaction. The
undersigned parties hereby irrevocably, an unconditionally agree and guarantee to honour and
respect all such fees, or remuneration arrangements made as part of a commission, "transaction"
even in the event that the “parties" is not an integral member to a specific commission and
fee/remuneration agreement. The commission payment is based on the sale of
_________________________________________________________________. The $_______
commission stipulated in the “transaction” will be divided equally between ______parties in the
transaction. In terms of the parties undersigned in this agreement, ________of the commission
($_________) will be divided equally in____ ($_________) and paid out to the parties undersigned
and to the details that will be provided in the written commission agreement.

6. The “parties” hereto shall respect the integrity and tangible value of the price whereby
compensation is earned and claims for fees honoured by the Party benefit thereby and “parties”
agree in pursuance of that object that they severally shall not in any manner whatsoever at any
time or place attempt to circumvent the validity or integrity in the contact process in any
transactions in which they are mutually involved now and hereafter.

7. The execution of each transaction shall be coordinated by an attorney/lawyer appointed and


approved by the parties which shall serve as an intermediary, hereinafter referred to as the
‘clearing house‘ which shall have full responsibility and authority to: (i) verify the adequacy of the
documentation required to complete the transaction, including but not limited to contract letters
of credit, proof of funds, insurance, bills of sale, and other documentation, (ii) confirm
inspection/analysis, price, quantity, delivery, and location of the product being bought and sold,
and (iii) effect payment and transfer of amounts, out of the letters of credit and other asset, due
to sellers, banks, brokers, intermediaries, and other “parties” to the transaction. Confidentiality,
Non-Circumvention and Non-Disclosure applies to all “parties” of the agreement and said rules
and regulations shall remain in full force for a period of five (5) years from the date of this
agreement with additional extensions to be agreed upon.

Page 2 of 7
MULTI-PARTY AGREEMENT
8. All “parties” agree that the provisions of this Agreement apply to all current and all future dealings
and transactions, contracts, new contracts generated from the same “parties” or new “parties”
derived from the same “parties” after introduction by either Party hereto, their extensions,
additions, renewal, rollovers, continuations, amendments, renegotiations parallel contracts /
agreements, third Party assignments, introductions, proposed bids or contracts contemplated and
in progress to date, or other transactions between any Party or “parties” within the chain or
contacts or introductions of the “parties” in the procurement of sales, purchases, financing or
beneficial contracts to or for the advantage of any Party or “parties” hereto and arising from the
efforts, directly or indirectly of any of the Party or “parties” hereto or said entities notified in
writing to the office of any of the other Party or “parties” hereto.

9. The “parties" to this Agreement agree that while the intent is to mutually agree to do business in
an honourable and honest manner, there may be times when disputes, if any, cannot be resolved
in an amicable manner. Where any such controversy, claim or dispute arises between the “parties”
hereto, they shall be settled by the “parties” in accordance with the following procedures which
are intended to set a formal arbitration method to deal with such unforeseen disputes that cannot
be settled amicably.
9.1. Commencement:
In the event of any dispute, difference or claim arising out of or relating to this Agreement
or the performance, enforcement, breach, attempts to terminate or validity thereof, the
“parties” shall use their best endeavours to settle such disputes or differences. To this
effect, they shall consult and negotiate with each other, in good faith and understanding
of their mutual interests, to reach a just and equitable solution satisfactory to all “parties".
9.2. Arbitration:
If the “parties” to this Agreement do not reach an amicable solution within a period of
seven (7) days, then the disputes, differences, controversies, or claims which may arise
out of this Agreement shall be finally settled under the Rules of Arbitration governed by
the Arbitration Act 42 of 1965 of the Republic of South Africa, by one or more arbitrators
appointed in accordance with the said Rules of Arbitration.

9.3. Judgement:
The decision of the stated Arbitration Court shall be final and binding upon all “parties” to
this Agreement.

9.4. Timely Settlement of Judgment:


Prompt disposal of any dispute is important to the “parties” of this Agreement. The
“parties” agree that the resolution of any disputes shall be conducted expediently, to the
end that final disposal of it shall be accomplished in one (1) week or less after final
judgment is rendered by the chosen Arbitration Court.

Page 3 of 7
MULTI-PARTY AGREEMENT
9.5. Legal Fees and Expenses Remedy:
In the event that an amicable settlement cannot be agreed to by mutual discussion and/or
arbitration by a third party, each of the “parties” subject to the declared breach shall be
responsible for their own legal expenses, until a settlement or judgment is reached,
provided however, that the party found in default by a judgment shall compensate in full
the aggrieved party for all of its legal expenses, notwithstanding any other provisions of
the judgment.

10. All “parties” to this Agreement agree that each retains the right to hire a licensed Independent
Accounting Auditor to conduct a complete accounting audit of all accounting records at the
expense of the party who wishes to conduct the audit. A minimum of ten (10) working days written
notice must be given to the other party by the party requesting the audit.

11. All “parties” hereto further agree that if any discrepancies are found during the Independent
accounting audit where it is discovered that any of the provisions of this Agreement pertaining to
any financial transactions have been violated by the party being audited and the due commissions
have been withheld and not paid as per the provisions of this Agreement, the affected party shall
make restitution and pay in full the commissions amount so withheld to the party con-ducting the
audit within forty-eight hours of such discovery of the discrepancies by the auditors. In cases
where such discrepancies are discovered during the audit, the “parties” hereto agree that the
audited party shall assume full financial responsibility for the total expenses for the independent
accounting audit and upon completion of the accounting audit, shall make immediate payment
for such expenses directly to the Independent Accounting Auditor firm who conducted the audit.

12. Notwithstanding any other provisions of this Agreement, all “parties” hereto, under penalty of
perjury, irrevocably and with full legal authority and corporate responsibility, do hereby agree to
protect, and to not circumvent their beneficiaries and/or intermediaries and to extend all of the
protections contained in this Agreement to their beneficiaries and/or intermediaries who have
materially and directly assisted in the final closing of the respective "project" or "transaction."

13. If one or more provisions of this Agreement are determined to be invalid, unenforceable, or
otherwise avoidable, such a determination shall not affect the other provisions of this Agreement
and specifically shall not invalidate the ‘“parties”’ agreement to arbitrate.

14. Any notice or other communication regarding the contents of this Agreement to be given
hereunder by each party shall be in writing and shall be delivered personally, or sent by courier
(charges paid), registered or certified mail (return receipt requested, postage prepaid), or by
email. Any such notice shall be deemed given (i) when personally delivered, (ii) fifteen (15)
business days after mailing by registered or certified mail, (iii) seven (7) business days after mailing
by courier or (iv) when successfully transmitted by email, unless otherwise changed by notice
delivered in the manner provided above, to the addresses of each party as indicated at the end of
this Agreement.

Page 4 of 7
MULTI-PARTY AGREEMENT
This Agreement is valid for any and all transaction between the “parties” herein and shall be governed
by and construed in accordance with South African Law.

The signing “parties” hereby accept such selected jurisdiction as the exclusive venue. The duration of
the Agreement shall perpetuate for five (5) years from the date hereof. Signatures on this Agreement
received by way of Facsimile, Mail and/or E-mail and/or WhatsApp shall be deemed to be an executed
contract agreement enforceable and admissible for all purposes as may be necessary under the terms
of the Agreement.

All signatories hereto acknowledge that they have read the foregoing Agreement and by their initials
and signatures that they have full and complete authority to legally execute this document for and in
the name of the party for which they have given their signatures.
ACCEPTED AND AGREED WITHOUT CHANGE
IMPORTANT, this may only be signed by a person who is a director (in the case of a company), the
proprietor (in the case of a sole trader), or partner (in the case of a partnership).

NOMINATED MANDATE TO ACT ON BEHALF OF MULTI-PARTY AGREEMENT

Company Name: ____________________

Registered Address: ________________________________

RSA Business Registration No.: ____________________

Represented by: _____________________

Mobile: ____________________

E-mail:

Signature: DATE: _______

Page 5 of 7
MULTI-PARTY AGREEMENT
PARTY 1: (Company / Natural Person A)

Company Name:

Registered Address: _________________________________

RSA Business Registration No.:

Represented by:

Mobile:

E-mail:

Signature: DATE: ____

PARTY 2: (Company / Natural Person B)

Company Name:

Registered Address: _________________________________

RSA Business Registration No.:

Represented by:

Mobile:

E-mail:

Signature: DATE: ____

Page 6 of 7
MULTI-PARTY AGREEMENT
PARTY 3: (Company / Natural Person C)

Company Name:

Registered Address: _________________________________

RSA Business Registration No.:

Represented by:

Mobile:

E-mail:

Signature: DATE: ____

PARTY 4: (Company / Natural Person D)

Company Name:

Registered Address: _________________________________

RSA Business Registration No.:

Represented by:

Mobile:

E-mail:

Signature: DATE: ____

Page 7 of 7
MULTI-PARTY AGREEMENT

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