VENDING MACHINE AGREEMENT.
This Vending Machine Agreement (hereinafter referred to as the “Agreement”) is
made on this __________ day of ___________ 20__ (hereinafter referred to as the
“Effective Date”) by and BETWEEN ALARO VENDING (hereinafter referred to as
the “Vending Company”) and BOND NIGHT CLUB (hereinafter referred to as the
“Site Host”). Together referred to as the “parties.”
WHEREAS, the Vending Company desires to place a vending machine on the
premises as defined herein; and
WHEREAS, the Site Host agrees to let the Vending Company access the premises
to set up and place the vending machine.
NOW, THEREFORE, in consideration of the above, the parties herein agree to be
legally bound by the following terms and conditions; –
1. Premises.
The agreed premises/space is Bond Night Club located at __________________.
2. Installation.
The parties agree that upon the acceptance of the premises and the terms herein,
the Vending company shall, at its own expense, place/set up the vending machine
point.
3. Term.
The parties herein agree that this Agreement shall be from the date of signing hereof
(referred to as the “Effective Date”) and exist indefinitely until terminated by the
parties.
4. Use.
The Vending Company shall use and occupy the space during the term of this
Agreement for placing and operating a vending machine for third parties.
The use of the space shall be in accordance with the applicable codes and laws.
5. Payment.
The parties herein agree that payment to the site host shall be commission based on
the sale proceeds through the equipment, e-cigarettes, vape products, and
accessories provided by the Vending Company.
The commission shall be 7% of the monthly sales over $500 to be paid quarterly via
direct deposit unless otherwise agreed between the parties.
6. Maintenance.
The Vending Company shall be responsible for maintaining the vending machines.
The site host shall not be liable for any damage.
The maintenance services shall include; –
i. Cleaning
ii. Verifying mechanisms work properly
iii. Replacement of malfunctioning parts
iv. Monitor power to equipment, inventory & vending functionality remotely, 24-7,
365 days/year
v. 24/7 Surveillance (security)
vi. Installing the Swann surveillance security system near the machine. With no
added security risk to the site host.
The site host agrees to coordinate any maintenance needed from their end for the
smooth running of the duties and obligations herein.
7. Ownership.
Parties agree that the equipment is owned by the Vending Company and the
products contained in the equipment.
8. Indemnification.
The Vending Company herein agrees to indemnify the site host in case of any
liabilities or loss arising from the performance of the obligations herein.
9. Confidentiality and Publicity.
The terms of this Agreement and the details thereof shall be confidential, and the
same shall not be disclosed to any third parties without prior written consent from the
parties.
10. Marketing.
Parties herein agree that the site host shall run ads on the vending machine
touchscreen interface as part of this partnership.
11. Exclusivity.
Parties agree that during the existence and continuity of this agreement, no other
vending machine of the same nature can be placed with the site host.
12. Termination.
The parties herein may terminate the terms by issuing a 30 days’ prior written notice
to the other party, clearly indicating the reasons for the termination.
13. Dispute.
In case of any dispute/complaint regarding the performance of this agreement, the
same shall be resolved through Arbitration, with the submitting party of the dispute,
catering for the legal costs entailed.
14. Governing Law.
The terms of this Agreement will be governed and construed in accordance with the
laws of the Bahamas.
15. Assignment.
The terms and obligations shall bind the parties and their respective successors and
assigns.
16. Waiver.
The lack of enforcement of any rights and obligations under this Agreement does not
mean a waiver of any present or future violation.
17. Amendment.
This Agreement may only be amended or modified by an agreement signed by both
parties.
18. Severability.
If any term or provision under this Agreement is deemed unenforceable by a court of
law, the same shall be severed from the Agreement, and the remaining condition
shall continue to be in full force and effect.
IN WITNESS WHEREOF, the parties have agreed and executed this Agreement as
of the Effective Date indicated in the Agreement.
Signed by the Vending Company; –
Representative:
______________________
Signature:
___________________________
Date:
_______________________________
Signed by the Site Host; –
Representative:
______________________
Signature:
__________________________
Date:
_______________________________
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