CONTRACT AGREEMENT
This Agreement is entered into as of January 20, 2025 (the "Effective Date"), by and between:
1.
Party A: Future Solutions LLC, a company incorporated under the laws of California, USA, with its principal office located at 123 Innovation
Drive, San Francisco, CA, USA, 94105.
Email: info@futuresolutions.com
Phone: +1-415-555-7890
2.
Party B: Global Tech Enterprises Ltd, a company incorporated under the laws of Ontario, Canada, with its principal office located at 789
Progress Road, Toronto, ON, Canada, M1B 5V4.
Email: contact@globaltech.ca
Phone: +1-647-555-0123
WHEREAS, Party A specializes in software development services and Party B provides IT infrastructure solutions;
AND WHEREAS, both parties wish to collaborate for the purpose of developing and deploying a cloud-based CRM software solution (the
"Project").
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:
1. Scope of Work
Party A agrees to develop, test, and deploy a customized CRM software solution for Party B in accordance with the specifications outlined in
Appendix A attached to this Agreement.
2. Payment Terms
2.1. Total Project Cost: $150,000 USD
2.2. Payment Schedule:
30% ($45,000) upon signing this Agreement.
40% ($60,000) upon delivery of the beta version.
30% ($45,000) upon final delivery and acceptance.
2.3. Payments shall be made via wire transfer to Party A's bank account:
Bank Name: First National Bank
Account Number: 123456789
SWIFT Code: FNUSUS33
3. Timeline
The Project will be completed within 120 calendar days from the Effective Date. A detailed timeline is provided in Appendix B.
4. Confidentiality
4.1. Both parties agree to maintain the confidentiality of any proprietary or sensitive information exchanged during the course of this
Agreement.
4.2. Confidentiality obligations shall survive for a period of 5 years following the termination of this Agreement.
5. Intellectual Property Rights
5.1. All deliverables, source code, and associated documentation developed by Party A under this Agreement shall be the sole property of Party
B.
5.2. Party A retains the right to use non-specific tools and methodologies utilized in the development process for other projects.
6. Termination
6.1. Either party may terminate this Agreement by providing 30 days' written notice to the other party.
6.2. In the event of termination, Party B shall compensate Party A for any work completed up to the termination date.
7. Liability
7.1. Party A’s liability for any claims arising under this Agreement shall not exceed the total payment received under this Agreement.
7.2. Neither party shall be liable for indirect, consequential, or incidental damages.
8. Governing Law
This Agreement shall be governed by the laws of the State of California, USA. Any disputes arising under this Agreement shall be resolved in
the courts located in San Francisco, California.
9. Notices
All notices under this Agreement shall be sent to the addresses provided above via email or courier service.
10. Entire Agreement
This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements, representations, or warranties,
whether oral or written.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.
For Party A:
Name: John M. Anderson
Title: CEO
Signature: ______________________
Date: ______________________
For Party B:
Name: Laura D. Brown
Title: Managing Director
Signature: ______________________
Date: ______________________
Appendix A: Specifications of CRM Solution
Appendix B: Project Timeline and Milestones
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