Last Updated: April 01, 2024.

Payment

The parties agree that payment for services rendered by the “VENDOR” will be on a per invoice basis. Furthermore, the “PHOZ” will ensure a 60% payment or any bargained % within 3 business days after invoice for services rendered is received. The balance of 4% will be paid within a period of 10 business days after completion and verification of services. Statutory deductions such as withholding tax, and any other liable payments will be deducted from payment, and remitted as required by the appropriate authorities.

Purchase Order

The parties agree that all order requests and processing will be made electronically. The “VENDOR” is obliged to deliver the client’s purchase order if they fail to reject the order request three (3) business days after its receipt unless otherwise agreed. Moreover, the “PHOZ” agrees to provide the “VENDOR” with a rolling forecast or anticipating orders.

Warranty

The parties warrant and represent full capacity and qualifications to deliver the terms and conditions of this Agreement. The Vendor assures, that all information provided are unambiguous and accurate.

Default in Supply

Phoz has the right to withhold supplier’s balance if supplier don’t meet specifications, quality, quantity and time line of supply as mutually agreed upon.

Confidentiality

All works and services rendered by the “VENDOR” will not be added to the portfolio of the “VENDOR” until after 90 days where the provided service(s) has been fully enjoyed by the “CLIENT”.

Alternative Dispute Resolution

1.1 The parties shall attempt in good faith to resolve any dispute arising out of or relating to this Agreement promptly by negotiations between officials of both parties who have authority to settle the controversy.

1.2 If the matter has not been resolved by negotiation within thirty (30) days, the parties shall attempt in good faith to settle the dispute by mediation in Lagos, Nigeria.

1.3 If the matter has not been resolved by mediation within ninety (90) days of the initiation of such procedure, or if either party will not participate in mediation, then parties may pursue all legal and equitable rights. Venue for any such proceeding shall be in the state or federal courts serving Lagos, Nigeria.

Choice of Law

This Agreement shall be construed and interpreted in accordance with the laws of the Federal Republic of Nigeria, without regard to state provisions regarding the conflict of laws.

Severability

If any of the provisions of this Agreement are void or unforeseeable, the remaining provisions shall nevertheless be effective, the intent being to execute this Agreement to the fullest extent possible.

DISCLAIMER: PLEASE NOTE THAT NO FORM OF CASH TRANSACTION BETWEEN CLIENT AND ANY STAFF, AGENT OR PERSONS ON BEHALF OF PHOZ RENEWABLE ENERGY LIMITED IS ALLOWED. PHOZ RENEWABLE ENERGY LIMITED WILL NOT TAKE LIABILITY FOR SUCH TRANSACTION OR PAYMENT. THIS CONTRACT IS BINDING BY ALL PARTIES BY THE VIRTUE OF SUPPLYING BY SAME.