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This Brokerage and Commission Agreement (“Agreement”) is reached on Dec. 2018 by and
between:
And
WHEREAS:
1. KMAC wishes to purchase drilling rigs (the “Project”) to Oil & Natural Gas Corporation
Limited and authorize TJXH as the agent to purchase the drilling rig.
2. TJXH has the ability and market resource as the agent to assist KMAC gain these Drilling rigs
and provide Oil & Natural Gas Corporation Limited.
2. Once a project contract is signed between KMAC and the Client under the (the “Project
Contract”), KMAC pay TJXH a commission based on USD in accordance
with the final payment schedule under the Project Contract (the “Commission”). Brokerage
details needs to be mentioned.
3. The Commission shall be payable in US Dollars and be paid to TJXH designated bank account
from KMAC within seven (7) working days. Seven working days from which point of
milestone completion has to be mentioned.
TERMINATION
This Agreement shall become effective upon signing by the duly authorized representatives of the
parties hereof until the project contract completed
CONFIDENTIALITY
This Agreement and all matters relating to it shall be regarded by the Parties as being highly
confidential and shall not be disclosed to any person who is not a signatory to the Agreement
except where such disclosure is required by law or for the fulfilment of this Agreement.
GOVERNING LAW AND ARBITRATION
This Agreement shall in all respects be construed and interpreted and governed in accordance with
the laws of P.R. China. All disputes arising in execution of or in connection with this Agreement
shall be settled through friendly negotiation by both parties hereof. In case no settlement can be
reached within sixty (60) calendar days of commencement of such negotiation, the disputes shall
be submitted for arbitration. The dispute shall be submitted to and settled by China International
Economic and Trade Arbitration Commission ("CIETAC") in Beijing in accordance with its then
prevailing arbitration rules/procedures.
Governing body shall be the English laws.
This Brokerage and Commission Agreement is made out in duplicate. Each party shall hold one
copy of each text, which has equal validity.
The Parties have executed this agreement by their duly authorized representatives as of the date,
month and year herein above written.
ON BEHALF OF
Signature:
Date:
ON BEHALF OF
Signature:
Date: