Envio Sponsorship Agreement
This INVESTMENT AGREEMENT is made and entered into on the ___ Day of
____________________ 2019to commence ______Day of _____________________2019 and
terminate on the ____Day of __________________________202__.
EnvíoLogistics Nigeria Limited RC 1400206, a company registered under the Company and Allied Matters Act Cap. 20, LFN 2004 of No.5B, Eunice Tutorial Close, Gbagada Phase 2, Lagos State(Herein referred to as the “Manager’’ where the context so admits shall include its legal representatives and assigns) of the one part.
(Herein referred to as the “Investor”, where the context so admits shall include his legal representatives and assigns) of the other part.
· Each shared investment unit is a contribution to the acquisition of a fleet size advertised for ______________ city.
· The Manager is a professional taxi and logistics management company carrying on business in Nigeria.
· The Manager has pioneered an investment scheme designed to provide and manage public transport service while delivering favourable returns on investment.
· The Manager takes full responsibility of managing the investment on behalf of the investors.
· Each Shared Investment Unit covers contribution for the purchase of ___________________________________________and the investor desires to invest _______________ Blocks.
· The manager agrees to accept the investment fund pursuant to the following terms and conditions below.
IT IS HEREBY AGREED AS FOLLOWS:
THE INVESTMENT SCHEME –
· The investment scheme is designed to provide and manage public transport service using the hire purchase model in _______________ State while delivering favourable returns on investment to prospective investors.
· The initial value of the investment package upon subscription by the investor is ________________ only.
· The Investment shall subsist for a period of 12 months.
· The Shared Investment Unit shall be applied to the purchase of a vehicle, licensing, comprehensive insurance, tracking technology and other relevant Local Government fees.
· The vehicle shall be comprehensively insured with a reputable insurance company.
· The vehicle shall be offered on hire purchase to a verified driver.
· The Manager shall remit to the investor due repayments of _________________ quarterly.
2. INVESTOR’S OBLIGATIONS.
The investor shall;
· Invest the sum of ________________ only as Shared Investment Unit/Block for the purchase of a vehicle for public transportation.
· Pay the above mentioned investment sum via pay stack online processing platform.
3. THE MANAGER’S OBLIGATIONS.
The Manager shall –
1. Guarantee___%Return on Investment sum, payable during the tenure of this agreement – 12 months.
2. The Manager shall make payment on invested sum and accrued interest quarterly into a designated account in favour of the investor spread across the repayment period of 12 months.
3. Investor’s investment starts counting 30 days after the execution of this agreement.
4. Pay the investor a quarterly remittance of N______________spread across _______ months with a total capital/profit pay-out of N__________
The remittance value would be deposited into the investor’s bank details below:
Bank Account No:
5. DISPUTE RESOLUTION
1. The Parties hereby undertake to use their reasonable endeavours to amicably resolve any dispute, controversy or claim arising out of or in relation to or in connection with this Agreement and the activities carried out hereunder, including without limitation, any dispute as to the validity, interpretation, enforceability or breach of this Agreement or misunderstanding that may arise between them in relation to the terms of the Agreement and/or any aspect of the contemplated transaction.
2. In relation to any dispute arising out of or in connection with this Agreement, which has not been resolved in accordance with Clause i above, each of the Parties hereto hereby irrevocably and unconditionally agree to set up a panel consisting of representatives of both parties and an independent arbitrator (Legal) Jointly selected by both parties.
6. WARRANTIES, REPRESENTATIONS AND UNDERTAKINGS
The parties hereby admit that this agreement has been fully explained to them and they have understood the meaning of all the clauses of this agreement and they have signed this agreement with full understanding of the obligations herein.
IN WITNESS WHEREOF, the parties have here unto set and subscribed their hands on the date and year above mentioned. Signed and Delivered by the various parties.