Smart City: Excerpts from the MoU with DIC Wednesday August 24 2005 13:02 IST
THIRUVANANTHAPURAM: The following are the excerpts from the revised draft Memorandum of Understanding cleared by the Oommen Chandy Cabinet. Since the second part of the MoU contains more important points, this website is publicising it first. The first part of the MoU will appear in these columns on Thursday. 3. Limitations: 3.1. This MoU does not constitute a legally enforceable contract under the laws of the United Arab Emirates or the Indian Union or any other jurisdiction. The purpose of this MoU is only to provide a framework within which to negotiate the agreement. 3.2. The provisions of this MoU are to be undertaken by the parties on a best endeavour and non-exclusive basis only and with the exception of the confidentiality undertaking referred to in Clause 5, neither party shall have any claim, whether legal or equitable, against the other party/personnel to any purported breach or non-compliance with the provisions of the understanding. 4. Publicity The parties will coordinate all public statements and other disclosures with regard to this MoU. Neither party may enter into any publicity regarding this MoU unless it receives prior permission from the other party. 5. Confidentiality 5.1. Confidential information for the purpose of this clause 5 means any and all information concerning the terms and costs regarding this project, its finances and operational details relating to either party that either party may communicate to the other party. 5.2. For the avoidance of doubt, confidential information shall also include any information disclosed by either party to the other party in the course of negotiations concerning its financial status, procurements, requirements, employees, business and contractual relationships (actual or prospective), business forecasts, sales and merchandising, marketing plans and any information that is not readily available to the public shall be considered as confidential information and, thereafter, within the scope of this understanding, unless specified otherwise in writing. 5.3 Subject to the laws as applicable in the respective countries, each party shall at all times and notwithstanding any termination or expiration of this MoU hold in strict confidence and not disclose to any third party confidential information, except as approved in writing by the other party and will use the confidential information for the purpose other than for evaluation of the project. 6. Independence and non-exclusivity 6.1. The parties shall act as independent parties with respect to the performance of this MoU. Neither party shall represent that it is a partner, employee or agent of the other party and this MoU shall not be construed as an agency or partnership. 6.2.Nothing in this MoU shall bind or hold either GoK or DIC to deal exclusively with DIC or GoK as the case may be during the pendency of this MoU, each party may, at its discretion, deal with third parties for developing project similar to this project. 7. Cost and expenses Any and all costs, expenses or liabilities of either party arising out of this MoU or its implementation shall be borne by each party separately. To be concluded
