Memorandum of Understanding Fleetwick Draft 24 8 10 (3)

8/4/2019 Memorandum of Understanding Fleetwick Draft 24 8 10 (3)

http://slidepdf.com/reader/full/memorandum-of-understanding-fleetwick-draft-24-8-10-3 1/5

Memorandum of understanding between Global Elastomeric

Technology, Inc. and Fleetwick International Middle East

This MEMORANDUM OF UNDERSTANDING is hereby made and entered into by Global Elastomeric

Technology, Inc. hereto referred to as GET with its principal address at 5807 S. Garnett Suite I Tulsa OK,

74146 and Fleetwick International Middle East , hereto referred to as Distributor with its principal

address at LOB-9- 1st Floor, F01, P.O.Box 262006, Jebel Ali Free Zone, Dubai, United Arab Emirates.

A.PURPOSE:

The purpose of this MEMORANDUM OF UNDERSTANDING is to establishing a Distributorship Agreement

between GET and Fleetwick International Middle East for t he marketing, and distribution of a range of

polyurea products that GET has a commercial relationship with the owners of the patented technologies and

manufacturers of polyurea application. The relationship is non exclusive in nature within the United Arab

Emirates and with prior consultation and agreement with GET, it can be extended into other regions in linewith GETS current commercial agreements. The line of products which will be represented under this

Agreement will cater to a wide variety of market sectors, such as Oil & Gas, Construction and OEM and other

sectors.

B.STATEMENT OF MUTUAL BENEFIT AND INTERESTS:

Fleetwick International Middle East with the support of GET will establish the market for polyurea

technology products.. These Applications will be geared towards oil & gas, construction and OEM markets.

GET and Fleetwick International Middle East could jointly participate in other markets segments, projectsand opportunities as long as it is of mutual benefit. The relationship will be non exclusive in nature for both

parties.

GET injunction with Fleetwick International Middle East will take prudent approach to protect the

technology, methodology, trade secrets, operational methods, and other vital information from being

compromised.

GET and Fleetwick International Middle East internal business will be of confidential nature. Both companies

agree to release only information that has been mutually agreed upon.

Fleetwick International Middle East will be able to purchase finished goods from GET at concessional distributor

rates, to be agreed, depending upon volumes projected by Fleetwick International Middle East within 30 days of

the signing of this agreement.



C. DISTRIBUTOR SHALL:

Under this agreement, deploy its sales efforts to generate business immediately.

Will set up a sales/distribution operation in the UAE for GET products.

Agrees to market, sell, and consult with applicators, consultants and other parties.

The Distributor will in all dealings describe him/herself as a Distributor of GET and agrees not to

engage in any activity likely to be detrimental to the reputation of GET or to hold out to as being a

part of GET.

D. GET SHALL:

Agrees to provide technical support to the Distributor and its customers whenever product is

purchased. The Scope of technical assistance will be application, technical data, marketing andgeneral consulting.

GET shall allocate three (3) products from its polyurea product line as defined in Appendix One.

Additional products will be available on an as need basis.

GET agrees to make available for purchase at preferential rates, specialist spraying equipment for

which it has agreements to the Distributor or one of its introduced Applicators.

GET agrees to offer initial training on polyurea applications and GET products to be promoted to the

sales staff of the Distributor in Dubai at GETs local office.

GET agrees to provide technical assistance for meetings with Local Ministries, consultants,contractors, and other companies in UAE that the Distributor has arranged.

F. IT IS MUTUALLY UNDERSTOOD AND AGREED BY AND BETWEEN THE PARTIES THAT:

MODIFICATION. Modifications within the scope of the instrument shall be made by mutual consent of the

parties, by the issuance of a written modification, signed and dated by all parties, prior to any changes being

performed.

NON-FUND OBLIGATING DOCUMENT. This instrument is neither a fiscal nor a funds obligation document.

Any endeavor or transfer of anything of value involving reimbursement or contribution of funds between the

parties to this instrument will be handled in accordance with applicable laws, regulations, and procedures

including those of Government or State. Such endeavors will be outlined in separate agreements that shall be



made in writing by representatives of the parties and shall be independently authorized by appropriate

statutory authority.

TIME FRAME - the agreement is for 12 months unless dissolved under mutual consent prior to this date.

IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the last written date below.

____________________________________ Date_________________

Amjad Ali ( Chairman, EMEA Region )

Global Elastomeric Technology Inc

___________________________________ Date_________________

Marwan Abaid ( Managing Director )

Fleetwick International Middle East





APPENDIX ONE

ELASTO- TEK ECP 3558 ( Primer )

ELASTO TEK RCC 6050 ( Pure Polyurea )

ELASTO TEK RCR 6100 ( Hybrid Polyurea )

Documents

Memorandum of Understanding Fleetwick Draft 24 8 10 (3)