Purchasing Terms/Agreement with DIRECT SOURCE LLC
THE UNDERSIGNED PARTIES INTENDING TO BE LEGALLY BOUND DO HEREBY IRREVOCABLY AGREE:
1. NOT TO CIRCUMVENT, AVOID, BYPASS, OR OBVIATE EACH OTHER DIRECTLY OR INDIRECTLY. This agreement is to confirm that each of the undersigned signatories will not deal with any entity introduced by the other signatory without knowledge and written permission of the introducing signatory. Also included within this context is any entity in which a signatory has an interest. The parties confirm that the terms of this agreement expressly cover acts of negligence and inadvertent disclosure which are a violation of this agreement.
2. NOT TO AVOID PAYMENT OF FEES OR COMMISSIONS IN ANY TRANSACTION WITH ANY ENTITY, corporation, partnership, or individual revealed by either party to the other in connection with any real estate, project, service renewal, extension, re-negotiation, contract agreement, third party assignment, communication or conversation. Should the introducing party not be notified of any contact or should any non-signatory, their employees, agents, officers, partners, associates or consultants through direct or indirect introduction by a signatory result in successful placement of a transaction with any entity, person, company, firm, corporation, organization, the introducing signatory agrees and guarantees to pay any and all agreed commissions and fees received by said signatory on any and all such transactions to the other signatory, unless otherwise agreed to in writing by the parties hereto.
3. NOT to disclose or otherwise reveal to any third party any information provided by the other particularly that concerning lenders, sellers, borrowers, buyers names, bank information, codes, and references and/or any such information advised to the other as being confidential or privileged without the written consent of the other. It is agreed and understood that each signatory agrees to keep confidential the names, addresses, telephone numbers, and fax numbers of any contact introduced by the other signatory, unless prior written permission is given by the introducing signatory.
4. This agreement shall be for a period of Twenty Four Months (24) Months from the date of execution and is irrevocable and non-cancellable. It is to be applied to any and all transactions, past, present and future, of the introducing signatories regardless of the success of the project. The signatories agree that the identities of the parties who are introduced under this agreement are currently, and shall forever remain, the proprietary asset of the introducing signatory.
5. This agreement shall be binding on the parties hereunder signed, their heirs, successors, partners and assigns. The signatories confirm by execution of this agreement that any company, firm, corporation, partnership, organization or entity of which they are an employee, member, officer, partner, or agent, is bound by this agreement.
6. Should violation, disagreement or dispute occur between contracting parties arising out of, or connected with this agreement, which cannot be adjusted by and between the parties involved, the disputed disagreement shall be submitted to the American Arbitration Association and all parties agree to abide by the decision of the referees of said Association. Judgment, upon award, may be entered in any court having jurisdiction thereof.
7. In the event of any conflict between the terms of this Agreement or any other Agreement this Agreement shall prevail.
In the event that either of the parties resorts to legal action against the other, the prevailing party shall be entitled to reimbursement from the other party for all reasonable attorney fees and other costs incurred in such action.
8. In the event any one or more of the provisions of this agreement shall, for any reason, be held to be invalid, illegal, or unenforceable, the remainder of this agreement shall not be affected thereby.
9. This agreement contains the entire agreement and understanding concerning the subject matter hereof and supersedes and repatriates all prior negotiations and proposed agreements, written, or oral. Neither of the parties may alter, amend, nor modify this agreement except by an instrument in writing signed by both parties, or their duly authorized representatives.
10. Additionally, the signatories agree that this instrument may be negotiated via telefax/facsimile/fax transmission, and the signatures by fax are accepted by the respective parties as though they were original.
11. It is understood and agreed to that all information and marketing material provided is the property of DIRECT SOURCE LLC. All material provided to the undersigned is confidential and proprietary and shall not be disbursed to any third party without prior written approval. Violating any portion of this agreement is subject to a $100,000.00 breach of contract penalty and shall be paid upon discovery of such breach. Failure to pay said penalty upon demand will result in additional legal action.
This agreement shall be construed and enforced in accordance with the applicable laws and regulations of the State in which the property is located and of the United States of America.
BY ACCEPTING I CONFIRM I HAVE FULL AUTHORITY TO EXECUTE THIS AGREEMENT AND OBLIGATE ALL COMPANIES, FIRMS, CORPORATIONS, PARTNERSHIPS, ORGANIZATIONS, INDIVIDUALS AND/OR ENTITIES REFERENCED HEREIN.
ALL PARTIES CONSENT, AGREE AND ACKNOWLEDGE THEY HAVE READ AND UNDERSTAND THE TERMS SET FORTH IN THIS AGREEMENT.
© 2020 Direct Source LLC at www.directsourcere.com