Reckless deaths: In dealing with the units, the farm sponsor acknowledges that there may be deaths; However, these events should not be due to negligence on the part of the owner of the facility and should be taken into account in detail Sponsor: voluntarily providing farmers with funds to increase their production. 1.3.1. If you sponsor a local farmer with an agricultural sponsor from your Vest Banking balance, the remaining balance, if sufficient, can be used for other sponsorships if you wish. Notwithstanding the foregoing, Sponsors are required under this Agreement to ensure that sponsorship is less than 10% of their annual income per cycle. However, institutional promoters are not limited by this clause. If any provision of this Private Sponsorship Agreement is held to be invalid or unenforceable for any reason, the remaining provisions will remain valid and enforceable. If a court finds that any provision of this Private Sponsorship Agreement is invalid or unenforceable, but the limitation of that provision would make it valid and enforceable, that provision shall be deemed to be in writing, construed and enforced as being so limited. The Sponsors agree that FarmSponsor will conduct a due check of the Sponsor`s financial background as a condition of acceptance of the sponsorship, so that in the event of “unforeseen circumstances” that include, but are not limited to, natural disasters, political instability, insurrection, terrorism, epidemic (p.B avian influenza outbreak) and pandemic, adverse government actions and financial losses have been recorded. as described. Farmsponsor makes payment to FarmSponsor customers in accordance with the agreed terms. Sponsor: use of the Customer`s funds for the sponsor of poultry farmers (broilers) who raise these birds to maturity at one thousand naira (NGN 1000) per unit (bird), after which the Farm Sponsor sells the units and gives the Customer its use of seeds plus a yield of 15% of the seed intake after the period agreed as indicated in these General Terms and Conditions between the Agricultural Sponsor and the Sponsor, in accordance with the agricultural calendar duly published and authorised by the agricultural promoter. Issuer policy for Famsponsor covers the risks of farmers and sponsors (“All Risks”).
All aggregate risks by Farm Sponsor are limited to financial losses that may be incurred during farming (identified as “Sponsorship + Sponsorship Yield” or “Vestbanking Funds and Returns”) incurred by FarmSponsor`s customers. To request information and updates about the farm cycle, the client participated. . A certificate confirming the farm promoter`s farm succession plan will be issued by the farm promoter to the sponsor once funds have been received to confirm the sponsorship application. Depending on the amount of damage caused by any of the above, FarmSponsor reserves the right to convert the payment plan of the sponsorship fund (blind pool) into a long-term negotiable instrument such as agro-estates (oil palm plantations and refinery) or joint stock sponsorship with notice to sponsors. In the event of a dispute between the parties, legal or equitable remedies may be used to resolve the dispute. The parties agree that prior to bringing any legal action, they will make good faith efforts to arbitrate and/or resolve any dispute between them with respect to this Agreement. If no resolution has been reached within 90 days of the conduct of such mediation/settlement discussions, the parties agree that the courts of the FEDERAL REPUBLIC OF NIGERIA shall have exclusive jurisdiction to resolve any dispute or claim arising out of or in connection with such Private Sponsorship Agreement or its purpose of incorporation. The billing language is English. In accordance with the court`s decision, the party who caused the violation will reimburse the other party for the costs of the proceedings. The Sponsors acknowledge that the Crowdfunding is risky and that the Sponsor may lose the entire investment, and confirms that it can bear the loss without unreasonable hardship established by acceptance of this Agreement. The statements and agreements contained herein shall survive the termination of the agreement between the two parties in writing or the termination of the relationship with the Agricultural Sponsor.
Changes, modifications or modifications to this Private Sponsorship Agreement will only be effective if they are made in writing and signed by a duly authorized representative of each of the parties to this Private Sponsorship Agreement. A waiver by either party of its rights or obligations under this Agreement shall not constitute a modification of this Agreement unless expressly agreed in writing between the parties. To adequately account for all agricultural activities, including but not limited to mortality, incidents and inventories, the categories of insurance coverage depend on the size of the holding and the location of the holding, separated by the payment schedule and the amount of duties. Notify the agricultural promoter of all agricultural activities to be carried out within the facility during the term of the agreement. 6.1. If the customer does not pay the amount thus requested, he violates his obligations under the contract and legal action ensues, the costs of which will be debited from the customer`s parent bank account. . . .