Implementation Of Software Development Agreement - 1378 Words

SOFTWARE DEVELOPMENT AGREEMENT THIS SOFTWARE DEVELOPMENT AGREEMENT (the â€Å"Agreement†) dated this 22nd day of October 2015 BETWEEN: QuizMed Ltd (The ‘‘customer’’) -AND- Mint Digital (The ‘‘service provider’’) BACKGROUND: A. QuizMed is of the understanding that Mint Digital has the required qualifications, experience, and abilities to provide the services mentioned below to the customer. B. Mint Digital has agreed to provide such services on the terms and conditions set out in this agreement. DEFINED TERMS: Agreement: the contract for the services defined below. Confidential Information: any information (whether or not it was stated as confidential) disclosed by both parties, orally or written. Deliverables: includes all plans, documents,†¦show more content†¦TERM OF AGREEMENT: 1. The term of this Agreement (the term) will begin on the effective date of this Agreement and will remain in full force and effective for 9 months, subject to earlier termination as provided in this Agreement. The term of this Agreement may be protracted by written agreements of both parties. 2. In the event that either party wishes to terminate this Agreement, that party is obligatory to provide 30 days’ notice in writing to the other party. 3. If a party is in breach of any material obligation contained in this Agreement, the other party has the right to terminate the contract within 30 days; this has to be in writing. 4. Any termination of this Agreement (howsoever occasioned) shall not affect any accrued rights or liabilities of either Party. PRICE: 5. By way of consideration for the service provided by Mint Digital, the price for the provision the QuizMed iOS logo and the QuizMed app is  £40,000 (Price) will be paid by QuizMed in accordance to the payment agreement. 6. QuizMed shall not pay for Mint Digital’s out-of-pocket expenses. PAYMENT: 7. QuizMed agrees to make the first payments of  £10,000 (including VAT) to Mint Digital according to the order set out in the time table of deliverables and an additional  £30,000(including VAT) one year after the contract is signed. 8. Mint Digital shall send receipts for all the payments made. INTERLECTUAL PROPERTY RIGHTS: 9. Mint Digital