SOFTWARE DEVELOPMENT AGREEMENT

July 13, 2023

SOFTWARE DEVELOPMENT AGREEMENT

This Software Development Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2020 (the “effective date”), between ________________, Address _____________ (hereinafter referred to as the “Company”), and ___________, Address _____________ (herein referred to as the “IT Company”).

NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:

  1. TERM.

The initial term of this Agreement shall be for a period _____ [Days/Weeks/Months], commencing on the Effective Date herein.

  • SCOPE.
    • The Company shall outsource the IT Company under the terms of this Agreement to develop a Reservation Software. Company B shall prepare the creative concepts for the software, conduct the necessary market research, and come up with the correct software for vendor allocation and project management.
    • The IT Company shall deliver the requirements for the project and follow the project timeline/deliverables as agreed. The IT Company shall create the project timeline and the deliverables, present it to the Company and ensure that they follow the timeline therein.
    • The Company shall check the progress of the project daily or at least 3 times weekly.
    • The IT Company shall provide technical and all relevant support after the launch of the Reservation Software for at least 6 months.
  • PAYMENTS.
    • The Company shall pay IT Company ________ Dollars for the services covered under this Agreement. The payment shall be made in the following installments;
  • 50% upfront for the cost of Reservation Software
  • 50% upfront for the Company B service fees
  • 25% when the project is on 75% completion, 50% for Company B service fees when the project is 75% complete
  • 25% when the project is complete
    • The Company shall cover all expenses related to the project such as the costs of the server.
  • CANCELLATION/TERMINATION.

The Parties acknowledge that either Partner can cancel this Agreement at any time provided that they issue a ___ day written notice on the same.

  • INDEPENDENT CONTRACTOR.
    • The IT Company shall be retained as an independent contractor.  The IT Company shall be fully responsible for payment of their own income taxes on all compensation earned under this Agreement. The Company shall not withhold or pay any income tax, social security tax, or any other payroll taxes on the IT Company’s behalf during the term of this Agreement.
    • The IT Company and/or the IT Company’s employees understand that they shall not be entitled to any fringe benefits that the Company provides for their employees generally or to any statutory employment benefits, including without limitation worker’s compensation or unemployment insurance.
  • GENERAL PROVISION, GOVERNING LAW, AND JURISDICTION.
    • This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof.  No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.
    • This Agreement shall be governed by and construed in accordance with the laws of the ____________ [State/Country]. Exclusive jurisdiction and venue shall be in _____________ [State/Country].
    • This Agreement shall be binding upon and inure to the benefit of the Company and the IT Company and their respective successors and assigns, provided that the IT Company may not assign any of their obligations under this Agreement without the Company’s prior written consent. 
    • Each party represents and warrants to the other that such party has acted in good faith and agrees to continue to so act in the negotiation, execution, delivery, performance, and any termination of this Agreement.
    • Any and all notices or demands by or from the Company to the IT Company, or by or from the Company to the IT Company, shall be in writing and shall be served either by regular United States mail, Certified or Registered Mail, return receipt requested, postage prepaid or by recognized overnight courier service.  If such notice is served by mail in the manner herein provided, service shall be conclusively deemed made forty-eight (48) hours after the deposit thereof in the United States mail or on the next business day after submission to the overnight courier service, addressed to the party to whom such notices or demand is to be given, at the following addresses;

IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.

COMPANY.                                                                IT COMPANY.

______________________                                        ________________________

Signature                                                                            Signature                            _____________________                                         _________________________

Contact Information                                                          Contact information

_____________________                                           _________________________

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