Free Mutual Agreement Between Two Parties Template
Mutual Agreement Between Two Parties
This Mutual Agreement ("Agreement") is entered into as of February 15, 2056, by and between:
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[YOUR NAME], representing [YOUR COMPANY NAME], located at [YOUR COMPANY ADDRESS] ("Party A"), and
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Jolie Cassin, representing ZenExa, located at Denver, CO 80202 ("Party B").
Party A and Party B may be referred to individually as a "Party" and collectively as the "Parties."
RECITALS
WHEREAS, [YOUR COMPANY NAME] seeks innovative technology solutions to enhance educational outcomes;
WHEREAS, ZenExa specializes in developing smart educational platforms tailored to institutional needs;
NOW, THEREFORE, in consideration of the mutual promises, covenants, and benefits set forth herein, the Parties agree as follows:
1. PURPOSE OF THE AGREEMENT
The purpose of this Agreement is to formalize a partnership to design, deliver, and integrate a smart educational platform across schools managed by [YOUR COMPANY NAME], ensuring seamless adoption and impactful outcomes.
2. TERMS AND CONDITIONS
2.1 Responsibilities of Party A
Party A agrees to:
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Facilitate access to school facilities and relevant resources required for the project.
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Provide operational support, including staff availability for system training and testing.
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Ensure timely payments to Party B, as detailed in Section 3.
2.2 Responsibilities of Party B
Party B agrees to:
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Develop, deliver, and install a customized smart educational platform that aligns with Party A’s requirements.
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Provide comprehensive training to Party A’s staff and ongoing technical support for a duration of 12 months post-installation.
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Maintain consistent communication through monthly progress reports and status meetings with Party A’s representatives.
3. COMPENSATION AND PAYMENT TERMS
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Party A will compensate Party B a total of $250,000, distributed as follows:
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$62,500 upon signing this Agreement.
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$62,500 upon completion of the development phase.
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$62,500 upon delivery and installation of the platform.
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$62,500 upon final project sign-off and approval by Party A.
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Late payments beyond 10 business days will incur a 2% monthly penalty on the overdue amount.
4. DURATION AND TERMINATION
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This Agreement begins on March 1, 2056, and ends on December 31, 2056, unless extended by written consent of both Parties.
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Either Party may terminate this Agreement for convenience by providing 30 days’ written notice. In case of breach, termination may occur immediately upon written notice if the breach is not resolved within 10 business days of notification.
5. CONFIDENTIALITY
The Parties agree that any proprietary information, data, or trade secrets shared under this Agreement shall remain strictly confidential and will not be disclosed to third parties without prior written consent, except as required by law.
6. INTELLECTUAL PROPERTY RIGHTS
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Any intellectual property developed or delivered by Party B under this Agreement will remain the property of Party B unless explicitly transferred to Party A in writing.
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Party A is granted a non-exclusive, perpetual license to use the platform within its schools.
7. DISPUTE RESOLUTION
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Any disputes arising from this Agreement shall first be addressed through good faith negotiation between the Parties.
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If unresolved, the dispute shall proceed to mediation with a neutral third-party mediator in Denver, Colorado.
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If mediation fails, the dispute may be submitted to binding arbitration, governed by the rules of the American Arbitration Association.
8. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, United States.
9. FORCE MAJEURE
Neither Party shall be held liable for delays or failure to perform any obligation under this Agreement due to causes beyond their reasonable control, including but not limited to acts of God, natural disasters, pandemics, or government restrictions.
10. ENTIRE AGREEMENT
This Agreement represents the complete understanding between the Parties concerning its subject matter and supersedes all prior agreements, written or oral. Any amendments must be made in writing and signed by both Parties.
11. SIGNATURES
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.
Party A
[YOUR NAME], School Administrator
[YOUR COMPANY NAME]
Date: February 15, 2056
Party B
Jolie Cassin, Director of Operations
ZenExa
Date: February 15, 2056
