AN AGREEMENT is made on day of 2021
BETWEEN
MASCOM (M) SDN BHD a company duly incorporated in Malaysia with its business address at
1-2-2, JALAN 3/109F, TAMAN DANAU DESA, 58100 KUALA LUMPUR. (hereinafter referred
to as "Principal").
AND
………………………………………………………………… (NRIC No: ……………………………..)
a Malaysian individual addressed at ………………………………………………………………
…………………………………………..…………………………………………………………………
……………………………………….. (hereinafter referred to as "the Arranger").
WHEREAS:
A. Principal intends secure funding to the sum of RINGGIT MALAYSIA FIVE HUNDRED
THOUSAND (RM 500,000.00) (hereinafter referred to as "The Funding")
B. The Principal hereby agrees to appoint the Arranger on an exclusive basis to assist the
Principal to negotiate and secure the Funding and such part of works related to
obtaining the Funding subject to the terms and conditions hereinafter contained.
NOW IT IS HEREBY AGREED AS FOLLOWS:-
1. APPOINTMENT
The Principal hereby agrees to appoint the Arranger on an exclusive basis to assist the
Principal to negotiate and secure the Funding subject to the terms and conditions
hereinafter contained.
2. CONSIDERATION
If the Funding is successfully awarded to the Principal, the Principal agrees to pay the
sum of RINGGIT MALAYSIA TWO MILLION (RM 2,000,000.00) to the Arranger being
the commission for arranging the Funding subject always that the business venture by
the Principal, to which the Funding is required, materializes and succeeds. The sum
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BROKERAGE AGREEMENT between
TIMURAN PADU DEVELOPMENT SDN BHD and HADZRISHAM BIN ABDUL AZIZ
shall be paid after the expiry of THREE (3) months from the date of the Funding
Agreement is signed between the Funder and the Principal.
3. COVENANTS AND WARRANTIES OF THE ARRANGER
The Arranger hereby undertakes declare agree warrant and undertake with the
Principal as follows:-
3.1 to use its reasonable endeavours to assist the Principal in securing the Funding
from any funder through the provision of advice, services and information;
3.2 to act exclusively for the Principal in relation to obtaining the Funding in
accordance with the interests of the Principal.
3.3 to use its reasonable endeavours to facilitate the due performance thereof and
in particular to the extent requested by the Principal.
4. NO AGENCY OR PARTNERSHIP
The appointment by the Principal of the Arrangers does not constitute an agency
relationship. The Arranger will not have, nor will hold himself out as having any authority
to enter into any contract on behalf of the Principal, or to incur expenses, to assume
liabilities, or to receive money on behalf of the Principal and shall not make any
promises, representations, warranties or guarantees without, in each case, obtaining in
advance from the Principal specific written authority to do so.
5. PAYMENT OF FUNDS TO BE MADE TO THE PRINCIPAL
Parties hereby agree that the Arranger shall facilitate the payment of the Funds from the
Funder to the Principal directly to the Principal’s banking account and/or to Messrs.
Nadim & Associates acting as the solicitors for the Principal.
6. DURATION
The appointment of the Arrangers hereunder will commence on the date hereof and
(subject to Clause 7 and 8) shall continue for a period of Two (2) months and thereafter
renewable in writing between the parties for a mutually agreed period.
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BROKERAGE AGREEMENT between
TIMURAN PADU DEVELOPMENT SDN BHD and HADZRISHAM BIN ABDUL AZIZ
7. BREACH BY THE PRINCIPAL OR ARRANGER
If any party hereto shall neglect or refuse or otherwise fail to perform or observe any of
the covenants or provisions of this Agreement or shall commit any breach of trust or
become insolvent then the other party shall be entitled to serve a notice of termination
(hereinafter referred to as "the Termination Notice") on the expiration of the period
specified in the Termination Notice without the breach complained of having been
remedied, the other party shall be at liberty to forthwith determine this Agreement
without prejudice to the rights of the parties herein contained in respect of any
antecedent breaches of any of the terms and conditions contained herein.
PROVIDED ALWAYS THAT it is further agreed that a reasonable period to remedy the
breach complained of shall be FOURTEEN (14) days.
8. NO COMPENSATION
It is expressly agreed between Parties that the termination or expiry of this Agreement,
whether under Clauses 6 and 7 or otherwise, shall not entitle the Arranger to any
compensation to indemnity in respect of such termination or expiry.
9. ASSIGNMENT
Neither party may assign this Agreement or any part of it to any third party without the
prior written consent of the other party.
10. NON DISCLOSURE
The existence of this Agreement shall not to be published or disclosed by one party
without the prior written consent of the other party other than where so required by
mandatory regulations applying to the Arrangers of the Principal.
11. AGREEMENT CONCLUSIVE
This Agreement records the full understanding of the parties and superseded all
previous agreements or arrangements, if any, whether oral or written, appertaining to
the Contract. Any amendment to this Agreement shall be effective only if made in
writing and duly signed by or on behalf of both parties.
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BROKERAGE AGREEMENT between
TIMURAN PADU DEVELOPMENT SDN BHD and HADZRISHAM BIN ABDUL AZIZ
12. WAIVER
The waiver by the Principal of any breach of any term of this Agreement shall not
prevent the subsequent enforcement of that term and shall nor be deemed a waiver of
any subsequent breach.
13. GOVERNING LAWS
This Agreement shall in all respects be governed by and construed on accordance with
the laws of Malaysia for the time being in force.
14. NOTICE
Any notice under this Agreement shall be sufficiently given if forwarded by letter, cable
or fax addressed to the party concerned at the address of such party first above written
or any other addressed communicated in writing by one party to the other as being
affective for the purpose of this clause. Every notice shall be deemed to have been
received and given at the time when in the ordinary course of transmission it should
have been delivered to the address to which it was sent.
15. SUCCESSORS BOUND
This Agreement is expressed to be binding upon the successors-in-title and the lawful
assigns of the respective parties hereto.
16. LEGAL COSTS
Each party shall bear their respective Solicitors' costs of and incidental to the
preparation of this Agreement and the stamp duties payable thereon shall be borne
jointly by the parties hereto.
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BROKERAGE AGREEMENT between
TIMURAN PADU DEVELOPMENT SDN BHD and HADZRISHAM BIN ABDUL AZIZ
IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year
first above written.
SIGNED by )
For and on behalf of the Principal )
MASCOM (M) SDN BHD )
) …………………………………
DATUK LAWRENCE SINSUA
Managing Director
in the presence of :-
SIGNED by the Arranger )
………………………………………… )
(NRIC No: 790422-08-6529) ) ………………………………….
in the presence of :-