Memorandum Of Understanding Essay

1303 words - 5 pages

MEMORANDUM OF UNDERSTANDING
Dated 12th July,2010.

MR.SURIYA JUNGRUNGREANGKIT a citizen of Thailand holding Passport Number:X782555 residing at Mo-ban far piyarom Soi 102, Pathumthani. 10110 Bangkok Thailand, (hereinafter referred to as the “Investor”) as the Party of the Other Part.

AND

MR.PHILIP POWEL carrying on business at ...........................................,holding Passport No........................... (hereinafter referred to as the “Investment Manager”) as the Party of the Other Part.

WHEREAS IT STATES AS FOLLOWS;

(1) The investor is a citizen of Thailand whose name is Mr Suriya Jungrungreangkit with Passport No:X782555. Who has the fund amounting to ( $21.000.000.00 )(Twenty One Million United State Dollars ) for investment in profitable ventures in united Kingdom.

(2) The Investment manager is a citizen of United kingdom whose name is MR.PHILIP POWELL with Passport No.(..................................),having the necessary expertise and contacts to place funds in private investment ventures, has agreed to undertake investment of the said funds in a secure and profitable manner.

NOW THEREFORE,In consideration for the mutual covenants and benefits herein contained,the partners have agreed as follows.

1 FUNDS FOR INVESTMENT
{ Mr Suriya Jungrungreangkit } The investor shall arrange to provide funds for the investment manager,which funds shall be hereinafter referred to as " investments funds" and shall be invested in accordance with the direction of the investment Manager Mr.Philip Powell.

2 { MR.PHILIP POWELL } The Investment manager may invest the funds in his own name or in the name of a corporate body, which he will have full control and signatory powers over.


{ } It is clearly understood by both parties that the actions of the Investment Manager shall not be deemed to be regulated by an investment commission in either Europe or America, however, when the Investment Manager has identified profitable Investment venture and has committed the funds for such Investment , the actual transactions will always be conducted by the parties fully qualified and licensed for the purpose under applicable laws and regulations.

CONTROL AND SECURITY OF FUNDS

{ MR.PHILIP POWELL } The Investment Manager shall always maintain the investment funds in a designated bank accounts with a major international bank.
{ } The funds earmarked for investment transaction shall always remain fully secure and without any risk of speculation and under signatory control of the investment manager, until the investor decides to take away his due share as specified in this M.OU.


{ } In order to enable the investment manager to select the most suitable investment venture and to commit funds to facilitate profitable investment transactions, the investment manager shall have unrestricted control of the funds, he is empowered to transfer the funds to different bank accounts at his...

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