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EXPLANATORY NOTES FOR THE COMPANY SECRETARIAL AND CORPORATE GOVERNANCE SERVICES AGREEMENT, WHERE SUCH AGREEMENT IS IN FAVOUR OF THE PARTY RECEIVING THE SERVICES
This agreement is for use by entities that REQUIRE the provision of company secretarial and corporate governance services. It is an agreement that is structured to protect the rights of the party that RECEIVES these services.
Note that this agreement can only be used where the receiver of services does not constitute a “consumer” in terms of the Consumer Protection Act. i.e the receiver MUST BE a juristic entity with a turnover or asset value equal to or more than R2m at the time of the transaction.
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Note: we will shortly make available agreements that regulate transactions that fall under the Consumer Protection Act. This agreement is for transactions that DO NOT fall under the Consumer Protection Act. Always make certain that the receiver of services under this agreement is neither a juristic person with assets or a turnover UNDER R2m nor a natural person.
PLEASE NOTE: If you are a party that PROVIDES company secretarial and corporate governance services, it is suggested that you make use of the agreement, titled “Company Secretarial and Corporate Governance Services Agreement- Provider“, as the latter agreement is more protective of your rights. You may also use the Generic Services Agreement – Receiver and tailor accordingly.
HOWEVER, if you are a party that RECEIVES the company secretarial and corporate governance services, then this is the correct agreement for you to use as it is more protective of your rights.
This COMPANY SECRETARIAL AND CORPORATE GOVERNANCE SERVICES AGREEMENT – RECEIVER contains the following clauses:
APPENDIX 1: FORM OF CONFIDENTIALITY UNDERTAKING
APPENDIX 2: DESCRIPTION OF THE SERVICES TO BE PROVIDED, FREQUENCY AND COST, SERVICE LEVELS, PENALTIES
Please read carefully through the agreement and fill in all missing details; in preparing a signature document, please have regard to all the notes we have placed hereon to assist you with the conclusion of a professional, legally binding agreement.
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