MARKET STREET CALTON CENTRE
ELEPHANT HOUSE 4TH FLOOR,
JOHANNESBURG; SOUTH AFRICA.
EMAIL: franklin@edwardassociates.org
TEL. NO: +27-78-844-3353
FAX NO.: +27-86-514-2678
OUR REF: LAW/GMA/001
th
YOUR REF: DATE: 2 NOVEMBER 2024
MEMORANDUM OF AGREEMENT
THE ABOVE CHAMBER on behalf of Mr. Rhaji Haid of Republic of South Sudan ,
now resident at # 21 Harley Street Midrand, Johannesburg, South Africa (hereinafter refer
to as the CAPITAL INVESTOR on the first part.
AND Mr., Danilo Rapas Pineda A Resident Of 0840 Dahlia st Cuevas compound
San Nicolas 1 Bacoor city of Cavite 4102 Philippines in after refer to as the
MANAGING PARTNER on the other part do hereby make an agreement
CONSENSUS ADIDUM AND CONTRACT to the following terms and conditions:
1. Capital investor is the beneficiary and legal owner of the funds in the custody of F.
Security Company P.T.Y Limited, South Africa in box no.J.H.B 0698-01-00-11 to the tune
of US$18 Million United States dollars.
2. A provision of 5% shall be made to take care of all preliminary expenses that are
incurred in the process of this transaction.
3. The capital investor is charged with the responsibility of making available an amount
equivalent to total sum utilized for expenditures to offset the same.
4. The managing partner is tasked with the responsibility of providing a bank account, as
soon as the money is transferred and once the capital investor has traveled to Philippines
as the Bank would require his identification etc. to set up his own account – (an account
can be established for non-residence and a different tax rate applies)(Also it may be
possible to establish a joint account in Philippines The designated account in Philippines
shall have both the managing partner and the capital investor’s signatory to the account
and shall both have equal access to the account. However the account can only be operated
with the full concurrence of both parties.
5. The funds shall subsequently be transferred to Philippines or any designation of the
managing partner, as his the person to direct the best and safe place for the funds since it
is placed under his care.
6. The managing partner is under obligation to source look and provide lucrative business
opportunities for the investment of the funds.
7. The managing partner is tasked with the duty with respect to the investment of the
funds and the constructive management of it.
8. The managing partner is entitled to a service charge/commission of 30% of the total
value of the funds (US$18,000,000. 00). The service/charge is deductible from the funds and
payable and can be utilized by the managing partner once the managing partner receives
the money into his account in Philippines
9. The managing partner is also entitled to a reimbursement/refund of all his out of
pocket/miscellaneous expenses upon proof of sufficient/reasonable needs and actual
expenditure. These miscellaneous expenses shall be settled/ reimbursed once the funds are
confirmed into his country account.
10. the managing partner is also entitled to a share of 30% in the profit, while the funds is
transferred and utilized in different projects in Philippines,(or other appropriate projects
as agreed with the capital investor).
11. Either the capital investor or the managing partner shall not be entitled to withdraw
his partnership except with the consent of the other party in which case at least a year
notice in writing is given.
12. The managing partner hereby undertakes and promises the guarantee safety of the
money when transferred to his personal account.
13. The managing partner hereby undertakes and promises to (a) Arrange suitable
accommodation for the capital investor and his family throughout his joint venture in
Philippines at the cost of capital investor. (b) Take care of the comfort, safety and security
of the capital investor and his family throughout his joint venture in Philippines at the
cost of capital investor. The capital investor entering into Philippines is a sole problem of
him and his family; it does not concern the managing partner on how they entered.
14. This agreement is a legal document governing the relationship of the Parties to this
venture. This document is recognized and enforceable by law and if any of the parties’
defaults or breaches any of the fundamental terms of the agreement, the other party can
maintain legal action against the defaulting party. The right of all parties concerned is
fully protected by this document.
15. Provision of this contract cannot be varied, changed or modified except both parties
otherwise agree in writing and any such modification/variation would be deemed to form
part of this contract.
- Signed, Sealed and delivered On the 2th days of NOVEMBER 2024.
-
- Signed:………………………. =Signed: ………………………..
-
Date: 2th NOVEMBER 2024. = Date: ………………
- Name Mr.Rhaji Haid = Name: Danilo Rapas Pineda
- ( The capital Investor) Phone+639171697076
- = ( The Managing Partner)
ADVOCATE FRANKLIN EDWARD ESQ.
Franklin Edward & Associates
(THE PRINCIPAL LEGAL REPRESANTATIVE)
Sign:. ……………………………..
Date :……………………………...
