JOINT VENTURE AGREMENT

Thise Joint Venture Agreement (the JV Agreement) is made and entered

intoexecuted on this the ___th day of March 12, 2015 by and between:;
BETWEEN
IKHTEAR UDDIN KHAN LTD (IUKL). (IUKL), a private company limited by
shares and duly incorporated under the Companies Act 1994 in Bangladesh,
having its Company Registration No.- C., dated and carrying
out its business as a 1st Class Contractor Firm registered with the [please
insert name of the govt. authority], through its registered office at House
no.: 31-33-35, Apartment no.- A2, Road no.- 06, Niketon, Gulshan, Dhaka;
represented by its present Managing Director, MR. IKHTEAR UDDIN KHAN;
hereinafter referred to as IUKL, as of the FIRST PARTY (which expression
unless excluded by or repugnant to the subject or context shall mean and
include its successors-in-interest, legal representatives, administrators and
assigns) of the ONE PART
a firm registered in 1st Class Contractor. House no: 31-33-35, Apartment A2,
,Road- 06, Niketon , Gulshan Dhaka
AND
DECOR INTERIOR (DI), a sole proprietorship firm carrying out its lawful
business under the laws in Bangladesh as a 1st Class Contractor Firm registered
with the [please insert name of the govt. authority], through its
registered office at House no.: 31-33-35, Apartment no.- A2, Road no.- 06,
Niketon, Gulshan, Dhaka; represented by its Proprietor, MR. MD. SHARIAR
TANVIR hereinafter referred to as DI, as of the SECOND PARTY (which
expression unless excluded by or repugnant to the subject or context shall mean
and include its successors-in-interest, legal representatives, administrators and
assigns) of the OTHER PART.House no: 31-33-35, Apartment A2, Road- 06,
Niketon , Gulshan , Dhaka a firm registered 1st class enlisted contractor.
WHEREAS both the parties to this JV Agreement are law abiding and well
reputed bonafide business entity in Bangladesh and both are engaged in
construction business being registered First Class Contractor firms.

AND WHEREAS with a common objective to initiate new projects on joint

venture basis and in order to participate in bid submitting for performing an
government
project for Construction of a 4 (four) storied security barrack
having 6 (six) storied foundation at Adamjee EPZ being Invitation Ref. No.03.353.014.00.00.666.2015.54, Dated: 02/02/2015 (the Project; more
particularly described in the Schedule attached below) as well as to ensure the
maximum benefit thereof; the parties hereto, upon mutual concurrence and
considering all issues in this regard, agreed between themselves to establish a
joint venture project set up in the manner whatsoever under the terms and
conditions as stipulated hereinafter by this JV Agreement.
AND WHEREAS both the parties to this JV Agreement jointly and severally
intend to participate in tender submission and execution of the Project by
initiating this Joint Venture and both the parties are mutually agreed to combine
and pool their respective resources with a view to fulfill all the requirements and
achieve pre-qualification for bidding the Project.
In order to bid for any perform the works for Construction of a 4(four)
storied security barrack having 6(six)- storied foundation at Adamjee
EPZ. Invitation Ref No. 03.353.014.00.00.666.2015.54
Dated:
02/02/2015 .

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Page-2

Whereas all parties are desire to from a Joint venture to participate in tender
submission and execution to the project.
Whereas all parties are wish to combine and pool their individual resources with
a view to meeting the required pre qualification bidding the project.
NOW THEREFORE, IN WITNESSES WHEREOF THE PARTIES HERETO
MUTUALLY UNDERSTOOD AND AGREED TO THE FOLLOWING TERMS AND
CONDITIONS:
1) Name and Style of the Joint Venture:
That the parties hereto are hereby agreed adequately to establish, as per
the laws of Bangladesh, the proposed Joint Venture as under the name and
style of IUKL & DI JV [IKHTEAR UDDIN KHAN LTD(IUKL) and DECOR
INTERIOR (DI)] (the Joint Venture); keeping in harmony with their
respective name and style of the business
Now, Therefore in consideration of the mutual promise and agreement here in
contained both parties herby agree as follows:
1.
Name of the Joint Venture
The Joint ventures name is (IUKL & DI JV) IKHTEAR UDDIN KHAN
LTD(IUKL) & Decor Interior (DI)
2) Objectives of the Joint Venture Objective:
That
Bboth parties are mutually agreed and fervently earnestly desirous to form
this a Joint Venture i.e. IUKL & DI JV , for the following objectives:
a) in order tTo achieve and confirm all Ppre- qualification for participating
and Bbidding to to the Pproject and whereas both the parties are
agreed to combine and pool their respective resources with a view to
fulfill all the requirements and achieve pre-qualification for bidding to
and completing the Project all successfullyparties wish to combine and
pool their individual resources on mutual agreement for meeting the
Pre qualification requirements
the eligible to bid and therefore
subsequently bidding the projects.
b) To facilitate in all respect, undertake and successfully complete the
Project by performing this Joint Venture.
c)

To form and operate, from time to time, subsequent Jjoint venture(s)oint

Venture in any manner whatsoever, with any other relevant I firm for
the purpose of fulfillment of the above ProjectContract.

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3) Terms of the Joint Venture :
a) That
b) I Tthe term of thise Jjoint Venture shall commence and be effective
from on the date of signing of this
c) JV Ag agreement and shall expire on thein 2 (two) years alterafter completion
of the tile pProject has been finallyand subject to due acceptance of the Project
by the relevant authority and all sorts of due payment and accounts have been
finally settled to all and every concerned parties as well as between the Joint
Venture Partners i.e. IUKL and DI; until and unless it is terminated, liquidated, or
dissolved by law or as provided hereinafter.
d) Provided however that the
e) accepted by the employer and all the relevant payment and accounts
have been
f) settled to every and all concerned parties, as well as between all
partners.

g)
h) The Joint Venture shall be automatically be null and void if the , where
The Joint
i) Venture eventually Disqualifydisqualified for the pProject or fails to in get
the project Project through the bid (s) thereafter for any reason
whatsoever.
4) Conditions of Joint Venture:

a) That the Joint Venture contains clear condition that any change in the
authorized signatory of any partner, subsequent to the signing of the JV
Agreement according to the respective memorandum of association of
the partners firm shall be valid only according to the prior approval of
the relevant Project procedure by the relevant authority in respect of
such change.
b) That no partner of this Joint Venture Thereafter.
The Joint Venture agreement also contains that any charge in the authorized
signatory
of any partner, subsequent to the signing of the JV agreement shall be validated
according to the relevant procedure contained in the memorandum of
association of
the partner firm, with prior approved obtained from the employer for such
charge.
Any partner of this Joint Venture is not allowed to take any kind of bank
loan for the purposes of under this the project from any schedule
bBank/financial institution s in Bangladesh.
5) Lead Partner of the Joint Venture:
That for the purposes of this Joint Venture and completing the Project
successfully, both the parties agree that the First Party,

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Page-4
Lead Partner:

4.1
IKHTEAR UDDIN KHAN LTD. (IUKL) shall be treated as the
Lead Partner with a supervisory capacity.

6) Proportionate shares of contribution in the Joint Venture and

profit and loss of the Project:
That both the parties to this JV Agreement are mutually agreed that the
proportionate shares in the Joint Venture and profit and loss of the Project
will be as follows:
a) IKHTEAR UDDIN KHAN LTD (IUKL) shall be entitled for 51% (Fifty One
Percent)
b) DECOR INTERIOR (DI) shall be entitled for 49% (Forty Nine Percent)
PROVIDED THAT under a commercial perspective the Second Party, DI will
manage and arrange for all sorts of financial and technical contribution in
execution level of the Project and in consideration of that the First Party,
IUKL will provide all its experience, expertise in related fields and
supervisory role during the entire Project.
7) Joint Responsibilities and Liabilities:
a) Both the parties shall be jointly and severally responsible and liable to
the Project authority for their respective performance of the Joint
Venture/contract (s) of the Project.
b) That both the parties shall jointly and severally be responsible for all
operations and decisions of the Joint Venture and will be
compensated/reward respectively for providing various services.
c) That legally both the partners of the Joint Venture shall jointly and
severally, be during the bidding process and for the performance of the
entire Project/contract(s) in accordance with the contract period and
until all the works have been taken over by the authority/employer and
until all accounts have been fully settled between the
authority/employer of the Project and the Joint Venture.
d) That incase of any default in withdrawal of any partner require
indemnities which shall have to be considered by the remaining
partner/partners of the Joint Venture (JV) as coerce of recovery.
8) Restrictions:

That both the parties to this JV Agreement are strictly agreed and shall be
legally bared and restricted by all means that, apart from this Joint
Venture, no party shall have any right to enter into any other joint venture
and/or any type of business with any other party whatsoever on the
related fields, subject to and during the continuance of this JV Agreement.
9) Duties and scope of works of individual parties of Joint Venture:
That upon mutual concurrence, in respect of individual duties and scope of
works, both the parties are agreed as follows:
a) Duties of IKHTEAR UDDIN KHAN LTD (IUKL):
To be responsible for general advisory and supervisory works for the
Project.
To be responsible for liaison and communication with the Project
authority.
To be responsible for general and site facilities.
To co-ordinate and facilitate the activities and administer the
executions during the entire Project.
b) Duties of DECOR INTERIOR (DI):
To execute, operate, manage and maintain the construction works
and all related activities in execution level of the Project
To supply, operate & maintain required plant and heavy equipment
for the Project
To provide technical management and key manpower of the project
To execute all kinds of day to day filed works
To procure all construction and other materials etc. for the project.
To maintain finance for the Project
To operate bank accounts and all books and records for the entire
Project exclusively.
To make budget and spend funds accordingly to complete the entire
Project exclusively.
To collect bills, maintain funds, operate day to day banking, sign on
cheques and other negotiable instruments.
Generally to control management and operation of the entire Project
exclusively.
To.
To.


b) Further agreed by and between the parties that a detailed and more
particular division and allocation of duties and scope of works for each
party may be settled and finalized between them upon mutual
concurrence at a later stage of the Project.
10) Bank Guarantees and liabilities to provide sureties:
a) That
5. Share of Joint Venture and Profit and loss:
5.1 IKHTEAR UDDIN KHAN LTD (IUKL) share shall be 51% (Fifty one
Percent)
5.2 Decor Interior (DI) share shall be 49% (forty Nine Percent)
6.
Responsibilities and liabilities between Partners:
6.1 Each party shall be jointly and severally responsible and liable to
the employer
for the performance of the contract (s) of the project.
6.2
Both partners in the Joint Venture shall be legally, jointly and
severally, during
the bidding process & for the performance of tile contract in
accordance with
the contract period & till the works have been taken over by the
employer & till
the accounts have been fully setting between the employer and
employer and
the Joint Venture .
6.3
Incase of default withdrawal of any partner require indemnities shall
have to be
considered by the remaining partner/partners of the Joint Venture
(JV) as a
coerce of recover.

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Page-5

7.
Roles & Scope of work of JV:
7.1
IKHTEAR UDDIN KHAN LTD (IUKL)

To be responsible for general and site facilities.

To provide technical management & key manpower of the project.

To mobilize local manpower materials and other necessary

resources.

To be responsible for general and site facilities.

To execute field works.

To supply, operate & maintain the required plant and heavy

equipment etc.
7.2

DECOR INTERIOR (DI)

To supply, operate & maintain heavy equipment & Plant.

To procure the required materials of foreign origin.
To provide technical management and key manpower of the project.
To supply, operate & maintain the required plant and heavy
equipment etc.

To execute fields works.

7.3
A detailed division of works of each party shall be settled and
finalized at a
later stage be mutual agreement.
8.
Bank Guarantees and liabilities to sureties:
8.1
Eeach party shall be responsible for providing all guarantees
required by the relevant authority for the Project
contract of the project in proportion to their respective share in
the Joint Venture.
b)

That
8.2
Eeach party shall Ssolely be liable to for the sureties to be
provided to the authority on the basis of their for its own respective
shares in the Joint Venture.

Cont..P-6

Page-6
11) Bank account operation:
That for the purposes of this Joint Venture and for completion of the Project
required bank account(s) in the name of the Joint Venture i.e. IUKL & DI
JV shall be opened and operated solely and exclusively by the Second
Party DI at its own discretion and supervision with Prime Bank Limited,
Banani Branch, Dhaka. Agreed that Mr. Md. Sahriar Tanvir, being the sole
proprietor of the Second Party, DI shall solely operate and maintain the
said bank account as the single signatory including but not limited to
signing on cheques, pay orders, depositing and transferring funds etc.
Provided, however that, the Second Party, DI shall not use this bank
account for any other purpose except the purposes of the Joint Venture.
12) Bank account operation:
The principle office and/or place of business of the proposed Joint Venture
Company will be at- House no.: 31-33-35, Apartment no.- A2, Road no.- 06,
Niketon, Gulshan, Dhaka
9. Bank Operation :
The Joint Venture Shall open a bank accounts in any schedule bank of
Bangladesh and the bank Account will be operated jointly of severally by both
partners of the joint venture or as decided mutually.
13) Representative:
Unless otherwise agreed in written by the parties each partner of the Joint
Venture appoints the following persons as the representative of the
respective party, with full and complete authority and power to represent
each partner.
Joint Venture Partner

IKHTEAR UDDIN KHAN LTD.

(IUKL)
DECOR INTERIOR (DI)

Name

MR. IKHTEAR UDDIN

KHAN
MR. MD. SHARIAR
TANVIR

Position

Managing
Director
Sole Proprietor

10. Joint venture Office :

Mailing Address : IKHTEAR UDDIN KHAN LTD(IUKL) & Decor Interior (DI)
House no: 31-33-35, Apartment A2, ,Road- 06, Niketon , Gulshan
Dhaka
11. Representative of Joint Venture partner:
11.1 Each partner of the Joint Venture partner appoints the following persons
as the representative of the respective party, with full and complete authority
and power to represent each partner.
JV Partner
Name
Position
IKHTEAR UDDIN KHAN
IKHTEAR UDDIN
Managing
LTD(IUKL)
KHAN
Director
Decor Interior (DI)
Md.
Shariar
Proprietor
Tanvir

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PROVIDED THAT necessary Power of Attorney shall be given in favour of
MR. MD. SHARIAR TANVIR, Proprietor of DI immediately after execution
of this JV Agreement for operation and smooth performance of this Joint
Venture.11.2 The respective power of attorney shall be herewith attached
14) Management Committee:
12. Management Committee:
12.1 That the management committee for the Joint Venture shall be
composed comprised of 2 (two) members, each being one one
representative from each partner to be nominated by the individual parties
to the Joint Venture and from time to time and parties may charnge their
representative by notifying the management committee in written.
Management Committee shall be assignedempower with full authority
and will give powers to MR. MD. SHARIAR TANVIR, Proprietor of DI to

manage, control and supervise operation of the Joint Venture for a

successful, performance of the Pproject(s).
15) Working Capital:
That the management committee from time to time determines the
amount of working capital required to perform the Project/contract and
shall request each partner to contribute its proportionate share of working
capital at the rate of the proportion of shares as mentioned above.
16) Equipment:
That 13. Working Capital:
13.1 The management committee from to time determines the amount of
working capital required to perform the contract and shall request each
partner to contribute its proportionate share of working capital as
mentioned in the preceding. Clause No. 5
14. Equipment :
Tthe Joint Venture will utilize the plant equipments and machinery as
available with each partner. The Joint Venture shall purchase, hire, lease or
arrange otherwise such equipments. Machinery, materials, supplies and
other properties, as the management committee deems necessary for the
performance of the contract. Where such properties are owned by the Joint
venture and upon completion of the project or it no longer needed before
its completion, they or their proceeds of sale by divided among and
distributed to the partners in accordance with their proportion of share or
otherwise proposed of as the partners agree. At the time of execution and
performance of the contract the proposed equipment shall be available at
the site commensurate with the work program as approved.
17) Rights and Liabilities:
That Cont.P-8
Page-8
15. Rights and Liabilities
15. Except as otherwise provided in this agreement, (i) the interest of the
partner in any profit and assets resulting from performance of the contract
and any property of any kind whatsoever acquired by the Joint Venture in
connection with contract and (ii) the responsibility of tile partners to share

any losses and liabilities arising out of or resulting from the execution and
performance of the contract of this Joint Venture Agreement and
(iii) the rights and liabilities of each partner shall be similar to the
proportionate shares of the partners in the Joint Venture as follows:
a) IKHTEAR UDDIN KHAN LTD. (IUKL)
:
51%
b) Decor Interior (DI)
:
49%
18) Books and Accounts:
The Joint Venture shall keep adequate books and records at its principal
place of business, setting forth a true and accurate account of all business
transactions arising out of and in connection with the conducts of the Joint
Venture and shall be available for inspection by either of the partners at
any reasonable time, The management committee will provide the
partners with monthly financial statements prepared on a percentage of
completion basis in accordance with generally accepted accounting
principle. Unless otherwise agreed upon, the management committee will
arrange for an annual audit if the Joint Venture records by an independent
within 60 (sixty) days after the end of the fiscal year adopted by the
management committee of the Joint venture
19) Assignment:
16. Books of Account:
Separate and adequate books of accounts shall be kept of the operations of
the Joint Venture and shall be available for inspection by either of the
partners at any reasonable time, The management committee will provide
the partners with monthly financial statements prepared on a percentage of
completion basis in accordance with generally accepted accounting principle.
Unless otherwise agreed upon, the management committee will arrange for
an annual audit if the Joint Venture records by an independent within 60
(sixty) days after the end of the fiscal year adopted by the management
committee of the Joint venture.
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Page-9
17. Assignment :
That the Any parties/partners to this Joint Venture shall not have the power
or authority to assign their rights or delegate their duties under this

agreement and such attempted attempts of assignment or delegation shall

be null and void unless consented in writing by the other partner.
20)

Other Transaction, Business and Agreements with other Parties:

a) Validity of Transactions: Affiliates of the parties to this Agreement may
be engaged to perform services for the Joint Venture. The validity of
any transaction, agreement or payment involving the Joint Venture and
any Affiliates of the parties to this Agreement otherwise permitted by
the terms of this Agreement shall not be affected by reason of the
relationship between them and such Affiliates or the approval of said
transactions, agreement or payment.
b) Other Business of the Parties to this Agreement: The parties to this
Agreement and their respective Affiliates may have interests in
businesses other than the Joint Venture business. The Joint Venture
shall not have the right to the income or proceeds derived from such
other business interests and, even if they are competitive with the
Partnership business, such business interests shall not be deemed
wrongful or improper.
c) Agreement with other parties: that the parties to this agreement
through the proposed joint venture Company shall have exclusive right
to execute and/or enter into such agreement(s) as required from time
to time for the purposes of business of the Joint Venture.
21) Indemnification:
a) The parties to this Agreement shall have no liability to the other for
any loss suffered which arises out of any action or inaction if, in good
faith, it is determined that such course of conduct was in the best
interests of the Joint Venture and such course of conduct did not
constitute negligence or misconduct. The parties to this Agreement
shall each be indemnified by the other against losses, judgments,
liabilities, expenses and amounts paid in settlement of any claims
sustained by it in connection with the Joint Venture.
b) That the Second Party shall in any way be excluded/free from the
liabilities to remit all post taxes divided on its capital and remuneration
if earned, subject to the maximum as per laws.
22) Initial Expenses:
All initial expenses including but not limited to various costs expenses
regarding incorporation of the proposed Joint Venture company, legal

charges to the govt. offices, solicitors fees etc. shall be provided primarily
by the Second Party, DI and that will be reimbursed from the common
business fund of the Joint Venture.
23) General Provisions:
a) Independent Contractors: The relationship between both the parties by
this Agreement is that of independent contractors, and nothing
contained herein shall be construed to give either party the power to
direct and control the day to day activities of the other. Neither party is
an agent, representative or partner of the other party. Neither party
shall have any right, power or authority to enter into any agreement
for, or on behalf of, or incur any obligation or liability of, or to
otherwise bind, the other party. This Agreement shall not be
interpreted or construed to create an association, agency or
partnership between the parties or to impose any liability attributable
to such relationship upon either party.
b) Governing Law & Jurisdiction: This Agreement and the parties actions
under this Agreement shall be governed by and construed under the
laws of Peoples Republic of Bangladesh without reference to conflict of
law principles. The parties hereby expressly consent to the jurisdiction
and venue of the Courts of laws in Bangladesh. Each party hereby
irrevocably consents to the service of process in any such action or
proceeding by the mailing of copies thereof by registered or certified
mail, postage prepaid, to such party at its address set forth in the
preamble of this agreement, such service to become effective thirty
(30) days after such mailing.
c) Entire Agreement: This Agreement, including the attached
exhibits/annexure, constitute the entire agreement between both
parties concerning this transaction and replaces all previous
communications, representations, understandings, and agreements,
whether verbal or written between the parties to this Agreement or
their representatives. No representations or statements of any kind
made by either party, which are not expressly stated in this
Agreement, shall be binding on such parties.
d) All Amendments in Writing: No waiver, amendment or modification of
this Agreement shall be effective unless in writing or signed & sealed
by a duly authorized representative of the party against whom such
waiver, amendment or modification is sought to be enforced.
Furthermore, no provisions in either partys purchase orders or in any

other business forms employed by either party will supersede the

terms and conditions of this Agreement.
e) Notices: Except as may be otherwise specifically provided in this
Agreement, all notices required or permitted hereunder shall be in
writing and shall be deemed to be delivered when deposited in the
United States mail, postage prepaid, certified or registered mail, return
receipt requested, addressed to the parties at their respective
addresses set forth in this Agreement or at such other addresses as
may be subsequently specified by written notice.
f) Costs of Legal Action: In the event of any legal action is brought to
enforce this Agreement, the prevailing party shall be entitled to
recover its costs of enforcement including, without limitation,
attorneys fees and court costs.
g) Inadequate Legal Remedy: Both parties understand and acknowledge
that violation of their respective covenants and agreements may cause
the other irreparable harm and damage that may not be recovered at
law and each agrees that the others remedies for breach may be in
equity by way of injunctive relief, as well as for damages and any other
relief available to the non-breaching party, whether in law or in equity.
h) Arbitration: In the event of any dispute, difference or question arising
out of or in respect of the interpretation or performance of this
Agreement or the commission of any breach of any terms thereof or of
compensation payable thereof or in any manner whatsoever in
connection with it, the same shall be referred to for arbitration as
provided in the relevant Arbitration Rules/Act in Bangladesh for the
purpose thereof. The decision or award so given shall be binding on the
parties hereto.
i) Delay is Not a Waiver: No failure or delay by either party in exercising
any right, power or remedy under this Agreement, except as
specifically provided in this Agreement, shall operate as a waiver of
any such right, power or remedy.
j) Force Majeure: In the event of either party is unable to perform any of
its obligations under this Agreement or to enjoy any of its benefits
because of any Act of God, strike, fire, flood, earthquake etc.,
governmental acts, orders or restrictions, internet system
unavailability, system malfunctions or any other reason where failure
to perform is beyond the reasonable control and not caused by the
negligence of the non-performing party (a Force Majeure Event), the
party who has been so effected shall give notice to the other party
immediately and shall use its reasonable best efforts to resume

k)

l)

m)

n)
o)

performance. Failure to meet due dates resulting from a Force Majeure

Event shall extend such due dates for a reasonable period. However if
the period of non-performance exceeds sixty (60) days from the
receipt of the notice of the Force Majeure Event, the party whose
ability to perform has not been affected may, by giving written notice,
terminate this Agreement effective immediately upon such notice or at
such later date as is therein specified.
Non-Assignability & Binding Effect: Except as otherwise provided for
within this Agreement neither party may assign any of its rights or
delegate any of its obligations under this Agreement to any third party
without the express written permission of the other. Any such
assignment is deemed null and void.
Certain Sections Invalid: If any provisions of this Agreement are held
by a court of competent jurisdiction to be invalid under any applicable
statute of rule of law, they are to that extent to be deemed omitted
and the remaining provisions of this Agreement.
Headings: The title and headings of the various sections and sections
in this Agreement are intended solely for convenience of reference and
are not intended for any other purpose whatsoever, or to explain,
modify or place any construction upon or on any of the provisions of
this Agreement.
Survival of Certain Provisions: The warranties and the indemnification
and confidentiality obligations set forth in the Agreement shall survive
the termination of the Agreement by either party for any reason.
Other Instruments: The parties hereto covenant and agree that they
will execute each such other and further instruments and documents
as are or may become reasonably necessary or convenient to
effectuate and carry out the purposes of this Agreement.

IN WITNESS WHEREOF, the parties hereto have executed this JV

Agreement as of the day and year first above written.
18. Amendment :
18.1 No charge, amendment or modification of the terms of this agreement
shall be valid unless reduced to writing and signed by both parties.
18.2 I the management committee may take such decision or take such
actions necessary for carrying out the purpose of the Joint Venture even
though not covered under this deed of agreement and also may charge of
this deed for such purpose.

Cont.P-10

Page-10
19. Settlement of disputes :
19.1 A dispute or controversy between the parties arising out of or in connection
with this agreement shall be amicable settled by the third parties.
In witness where of, the undersigned have executed this agreement as of the
date and year first above written :
For and on behalf of
IKHTEAR UDDIN KHAN LTD(IUKL)

For and behalf of

Decor Interior (DI)

IKHTEAR UDDIN KHAN

Md. Shariar Tanvir

(Managing Director)
Witness :
1.
2.
3.

(Proprietor)
Witness :

Power of Attorney
(Authorized partner in Charge of IKHTEAR UDDIN KHAN LTD(IUKL) & Decor
Interior (DI)
We are undersigned of behalf of IKHTEAR UDDIN KHAN LTD (IUKL) & Decor
Interior (DI), do hereby authorized in reference to the Joint Venture Agreement
March 12, 2015 Md. Shariar Tanvir of M/S. Decor Interior (DI), or any other
person/firm nominated by him through a power of Attorney in connection to from

a JV for the work Construction of a 4(four) storied security barrack

having 6(six)- storied foundation at Adamjee EPZ.
Invitation Ref No. 03.353.014.00.00.666.2015.54 Dated: 02/02/2015.

Cont.P/2
Page-2
To negotiate or to sign contract for and on behalf of any or all partners of the
Joint Venture.
To execute the contract in accordance with the contract terms for and on behalf
of any or all
partners of the joint venture.

Cont.P/3

Page-3
To prepare and submit bills, receive cheque, bills or any other payment to sign in
any documents/papers against above mentioned work on Partner Md. Shariar
Tanvir, Proprietor: DECOR INTERIOR (DI)

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Page-4

To submit and withdraw bid bond guarantee, performance guarantee etc for and
on behalf of any or all partners of the joint venture.
Any partner of this Joint Venture is not allowed to take bank loan under this
project from any schedule Banks in Bangladesh

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To open bank account in any schedule bank of Bangladesh on behalf of any or all
partners of the joint venture.
The specimen signature of Md. Shariar Tanvir, Pro. Decor Interior (DI)
appended below:
Sl No.

Name

Signature

01.
02.
03

IKHTEAR UDDIN KHAN LTD(IUKL)

(DI)

(IKHTEAR UDDIN KHAN)

Managing Director
IKHTEAR UDDIN KHAN LTD(IUKL)
The First Part:

&

Decor Interior

(Md. Shariar Tanvir)

Proprietor
Decor Interior (DI)

The Second Part:

is

For and on behalf of:

For and on behalf of:

IKHTEAR UDDIN KHAN LTD.

(IUKL)

DECOR INTERIOR (DI)

__________________________________
Name: IKHTEAR UDDIN KHAN
Designation: Managing Director

___________________________________
Name: MD. SHARIAR TANVIR
Designation:

Witness:

Witness:

_____________________________
Name:
Address:

____________________________
Name:
Address:

SCHEDULE