PROJECT CONTRACT
This Contract is made on this _________________ Between Immacule Lab
(hereinafter referred to as the “Party A”) and R&D lab (hereinafter referred to as the
“Party B”) together referred to as “parties.”
WHEREAS Party A has agreed to open a project to Party B to start working to
formulate 1st Black Hair Shampoo based on the information provided by the current
manufacturer and the sample already given to Party B.
WHEREAS the parties have agreed to be legally bound by the following terms; –
1. Term.
The parties herein agree that the Project will start after receiving the down payment
and will take 6 to 8 weeks depending on the completion of the project and once Party
B has received the final approval on the samples provided.
2. Payment.
The parties herein agree that there will be a 50% down payment and the remaining
50% after completing the 1 st formula.
The down payment is non-refundable. Upon the customer receiving the 1 st Purchase
order, 10% of the total cost will be credited toward the balance of the 1st purchase
order.
3. Costs.
The parties agree that the cost per unit will be calculated once the formula is
approved and provided in a quote within 72 hours of approval.
4. Dispute Resolution.
In case of any dispute or conflict that arises from the non-performance of the terms
in this Contract, parties mutually agree to negotiate and resolve the dispute. If the
same fails, it shall be referred to a single arbitrator, whose decision shall be binding
and final.
5. Severability.
Suppose a provision of this Contract is found by a court of competent jurisdiction to
be invalid and unenforceable. It will be severed from the Contract, and the other
provisions will continue and not be affected.
6. Expenses.
Each party shall bear its costs in relation to fulfilling the terms of this Contract.
7. Governing Law.
The terms of this Contract will be governed by the Laws of the State of Texas.
8. Waiver.
A waiver by any of the parties herein of any of their rights in this Contract does not
infer a further waiver of that right or any other right in this Contract.
9. Entire Agreement.
The terms and obligations in this Contract shall be construed as the entire
Agreement between the parties in relation to the subject herein.
IN WITNESS WHEREOF, the parties have signed this Contract on the date indicated
hereinbelow.
By Immacule Lab; –
Designation:
______________________________
Signature:
________________________________
Date:
____________________________________
Email Address:
____________________________
By R&D lab; –
Designation:
____________________________
Signature:
______________________________
Date:
__________________________________
Email Address:
__________________________
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