• It is agreed that all cooperation activities will be conducted in accordance with the framework of IRAQ laws and regulation. Both parties agree to exercise their best efforts to explore cooperation in the fields of Inspection, training, surveying construction, calibration and trading.
• The two parties will promote each other accreditation activities.
• The two parties will invite each other to attend workshops/seminars/conferences, and collaborate on organizing workshops /seminars/conferences on mutually interested fields in Iraq on outside Iraq. Details of the specific workshop/seminar/conference should be settled through friendly discussions between the two parties.
• Both parties will help each other to invite and appointee experts/subject specialists, and have mutual staff exchange according to each other’s needs. Details of the specific specialist appointing and staff exchange should be settled through friendly discussion between the two parties.
• Specific projects will have separate contracts raised as they are agreed by the two
Parties.
Scope of Authority for both parties: Neither partner shall have authority to act for or to assume any obligations or responsibilities on behalf of the other partner, unless agreed upon by both parties.
Place of Business: The place of business of this partnership, such place or places as partners shall determine, but mostly it includes all governates of Iraq.
Profits and losses: In each Fiscal year all items of income, gain, expenses and loss arising from this partnership shall be determined by the accountants of the partnership, at end of fiscal year.
Financial Statement: Proper account shall be kept of all transactions of the business and at the end of each year. The statement shall indicate all expenses and income of the business for the past year and what belongs and is due to each of the partners as its share of the profits.