Memorandum of Understanding
This MoU is made on Signup Date, M/s Barber Syndicate having registered
Office at Shop No.3846, Main Market, Mori Gate, Delhi-110006, INDIA
herein after called the Website Owner, Party of the First Part
(Seller Company Name), through its Proprietor (seller name) having its registered office at (seller Address ), called, party of the Second Part for providing access to the Website to sell off the products and initially for a period of 1Year w.e.f 01.11.2021 to 03.11.2022 initially And can be further extended with mutual consent of the parties thereto.
That the expression of the term, Website Owner and the Second Party Seller Shall mean only the Proprietors of First and Second Part. Whereas the Website Owner is the owner and in possession Of website viz. http://www.barbersyndicate.com, and this agreement is made between First party and Second Party in which the First Party has agreed to give access to their website to Second Party who can sale of its beauty and other cosmetic products from the said website abiding certain terms and conditions mentioned below:
NOW THIS AGREEMENT WITNESSED AS UNDER:-
- That the second Party Shall pay 500.00/-INR every month of Store Rent.
- Store Name as Direct Link For Seller ex. www.barbersyndicate.com/store/STORENAME
- That the Second Party shall pay 10% commission every month over the total sale made through The said website by second party to first party. If the second party defaults in paying 10% over The sale of products for consecutive three months then the first party has every right to take away the access of website from second party seller.
- That the second party must dispatch the received order within 3 working days of receiving a Particular order from the said website. In case if the same is not abided by the second party within 3 working days, late shipment fee as penalty of 10% shall be levied on total bill amount and after passing of 3 days i.e. from 4th day onwards, 25% penalty will be charged over the total amount of order received and be paid to the first party.
- That if the second party (being seller) rejects or cancel any order, 15% penalty charge on total amount shall be levied and be paid to the first party.
- That if the second party (being seller) send some product which is damaged/expired/different than the order so placed and the item is returned by Courier or any other means by the buyer, then courier charges shall be borne by the second party and 10% penalty shall be levied on the total order amount that has to be paid by the second party to first party.
- That the First party shall transfer payment (online) to the Second party within 15 days time period after the order is delivered to the buyer.