General Terms and Conditions

General Terms and Conditions

Sponsorship

1. It is agreed that at the time of renegotiation, the sponsee will automatically invite the sponsor to the first rights to re-negotiate from their corporate area. If there are two corporate from the same area both will be treated equally and both will be offered rights to re-negotiate.

2. In the event of a dispute arising that the parties themselves cannot resolve, the parties agree to refer the matter to an independent arbitrator appointed by mutual agreement.

3. If the parties cannot agree on an arbitrator, or both parties do not agree with the decision of the arbitrator appointed, the agreement may be terminated in the following manner: a) If the breach is one that can be rectified, then the non-breaching party can request in writing that the breach be rectified in 14 days. If the breach is not rectified within that time, the nonbreaching party may terminate the Agreement immediately; b) If the breach is one that cannot be rectified, the non-breaching party may terminate the Agreement by giving 14 days written notice of their intention to terminate. c) If either party goes into liquidation, is wound up, dissolved (except for the purpose of reconstruction or amalgamation), enters into a scheme of arrangement or is placed under official management or in receivership, the other party may terminate the Agreement by giving 14 days written notice of their intention to terminate under the clause. d) In the event of a termination under this Agreement, each party’s rights and liabilities will cease immediately but the termination shall not affect a party’s rights arising out of a breach of this agreement by the other party. If a sponsor decides to terminate this agreement and no breech occurred from the sponsee no monies shall be refunded. If the sponsee were to terminate the PodMD project, the sponsor will only be charged for the number of podcasts made on their behalf and a refund given.

4. Sponsorship fees will be used at the discretion of PodMD directors and do not need to be disclosed to sponsors.

5. Each party shall indemnify the other against any claims arising from any breach of the agreement by either party.

6. The terms and conditions of this agreement shall not be disclosed to any third parties without the prior written consent of both parties.

7. The rights of either party under this agreement shall not be transferable or assignable either in whole or in part.