MOU entered into with Sufin Limited for marketing tie-up on B2B marketplace and app
MOU signed with Sufin Limited for a marketing tie-up: the Company's products will be promoted, marketed and sold on Sufin's B2B marketplace (www.lntsufin.com) and app (L&L - SuFin) in Indian markets.
By ScoutQuest · · 2 min read
- Signing Payment
- Rs. 5,00,000 on signing
- Quarterly Instalments
- Rs. 10 lakh in 4 quarterly instalments of Rs. 2,50,000
- Market Scope
- Indian markets
Marketing tie-up MOU
Indus Aluminium Recyclers Limited (formerly known as Containerway International Limited) has entered into a Memorandum of Understanding (MOU) with Sufin Limited to collaborate for the promotion, marketing, sale and supply of the products manufactured, procured and sold by the Company via the platform of Sufin Limited, i.e. the B2B marketplace www.lntsufin.com and the mobile device application (L&L - SuFin).
What the arrangement involves
- The platform's role is to provide the Company a limited, non-exclusive, non-transferable, revocable (only in accordance with Clause 12 - Term & Termination) and non-sub-licensable right, during the term, to access and use the SuFin platform and a configured company microsite hosted on it for displaying, promoting, marketing and selling product.
- The Company is exclusively responsible for the manufacturing, sourcing and supply of the products, pricing, acceptance of orders, invoicing, fulfilment, dispatch, delivery, after-sales service, warranty, liability and all product-related obligations for transactions undertaken through the platform, at its own risk and cost.
- The scope of the MOU is for Indian markets.
Money involved
- Rs. 5,00,000 paid on signing of the MOU.
- Rs. 10 lakh in 4 quarterly instalments of Rs. 2,50,000 each.
Other disclosures
- The arrangement does not fall under related party transactions.
- There is no acquisition of an entity; the share exchange ratio and the size of the entity are not applicable.
- The stated rationale is that it will increase the promotion, marketing, sale and supply of the products manufactured, procured and sold by the Company through the SuFin platform.
What this means for investors
An MOU is an agreement on how the two sides will work together; here it sets up a channel for selling the Company's products on an outside B2B marketplace and app. The Company continues to handle manufacturing, orders, billing and after-sales service itself, and pays the consideration noted above on signing and in quarterly instalments.
More numbers
- Consideration paid on signing of MOURs. 5,00,000
- Consideration payable in quarterly instalmentsRs. 10,00,000/-
- Each quarterly instalmentRs. 2,50,000/-
- Number of quarterly instalments4
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