EcoGreen Industries Limited (EIL), a leading manufacturer of eco-friendly packaging solutions based in Mumbai, India, entered into a distribution agreement with BrightFuture Corp, a Singapore based company specializing i

Conciliation Agreement This Conciliation Agreement (hereinafter referred to as the 'Agreement') is entered into on this [Day] day of [Month] , 2024, by and between: EcoGreen Industries Limited (EIL) , a company incorporated under the laws of India, having its registered office at [EIL's Registered Office Address] , Mumbai, India, (hereinafter referred to as 'EIL'); BrightFuture Corp , a company incorporated under the laws of Singapore, having its principal office at [BrightFuture's Principal Office Address] , Singapore, (hereinafter referred to as 'BrightFuture'); WHEREAS: A. EIL is a leading manufacturer of eco-friendly packaging solutions, supplying products including biodegradable wraps and recycled paper products. B. BrightFuture is a distributor specializing in sustainable products, supplying to various European retailers. C. The parties entered into a distribution agreement dated [Date of Original Agreement] (hereinafter referred to as the 'Original Agreement'), under which EIL agreed to supply packaging materials to BrightFuture for distribution in Europe. D. Disputes have arisen between the parties regarding (i) delays in shipment of products by EIL, (ii) quality issues with the delivered products, and (iii) disagreements over payment terms and amounts billed. E. The parties, in good faith, have agreed to refer their disputes to conciliation under a panel of three conciliators as per the terms set forth in this Agreement. NOW, THEREFORE, the Parties agree as follows: 1. Appointment of Conciliators 1.1 The conciliation proceedings shall be conducted by a panel of three conciliators ('Panel'). Each party shall appoint one conciliator, and the two appointed conciliators shall mutually agree upon and appoint the third conciliator who shall act as the presiding conciliator. 1.2 The appointed conciliators are: Conciliator appointed by EIL: [Name of EIL's Conciliator] Conciliator appointed by BrightFuture: [Name of BrightFuture's Conciliator] Presiding Conciliator: [Name of Presiding Conciliator] 1.3 In the event of any disagreement in appointing the presiding conciliator, the appointment shall be made in accordance with the rules of [relevant institution or authority, if applicable, e.g., 'the Indian Council of Arbitration'] . 2. Scope of Conciliation The conciliation proceedings shall address and seek resolution of the following issues: (a) Alleged delays in shipment of products by EIL and their impact on BrightFuture's supply chain. (b) Alleged quality issues, including defective items and inconsistencies in product specifications delivered by EIL. (c) Disputes over payment terms and amounts billed under the Original Agreement. 3. Rules Governing the Proceedings 3.1 The conciliation proceedings shall be conducted in accordance with the provisions of the Arbitration and Conciliation Act, 1996 (India) and any relevant international conciliation rules agreed upon by the parties. 3.2 The language of the conciliation proceedings shall be English. 3.3 The venue of the conciliation proceedings shall be [insert mutually agreed location or specify virtual platform, e.g., 'Mumbai, India, or via a secure virtual platform'] . 4. Conduct of Conciliation 4.1 The Panel shall: (a) Facilitate discussions between the parties in an impartial manner. (b) Assist the parties in identifying mutually acceptable solutions. (c) Strive to resolve the disputes amicably. 4.2 The Panel shall maintain confidentiality of all matters discussed during the proceedings, unless disclosure is required by law or consented to by the parties. 5. Obligations of the Parties 5.1 The parties shall: (a) Participate in good faith in the conciliation proceedings. (b) Provide all necessary documentation and information requested by the Panel to facilitate the resolution of disputes. (c) Refrain from initiating any legal proceedings related to the disputes during the pendency of the conciliation process. 6. Fees and Costs 6.1 The fees of the conciliators and other expenses of the conciliation proceedings shall be shared equally by the parties, unless otherwise agreed in writing. 7. Settlement Agreement 7.1 If the parties reach a settlement, the terms of the settlement shall be recorded in a written agreement signed by the parties and the conciliators ('Settlement Agreement'). 7.2 The Settlement Agreement shall be binding and enforceable on the parties as per applicable law. 8. Termination of Proceedings 8.1 The conciliation proceedings shall terminate upon: (a) Signing of the Settlement Agreement by the parties. (b) A written declaration by the Panel that further efforts at conciliation are unlikely to resolve the disputes. (c) A written notice by either party to the Panel indicating a decision to terminate the proceedings. 9. Governing Law 9.1 This Agreement and the conciliation proceedings shall be governed by the laws of India, subject to applicable international conciliation principles. IN WITNESS WHEREOF, the parties have executed this Conciliation Agreement on the date first above written. For EcoGreen Industries Limited: Name: [Authorized Signatory Name] Designation: [Designation] Signature: [Signature] For BrightFuture Corp: Name: [Authorized Signatory Name] Designation: [Designation] Signature: [Signature] Witnesses: 1. Name: [Witness 1 Name] Address: [Witness 1 Address] Signature: [Witness 1 Signature] 2. Name: [Witness 2 Name] Address: [Witness 2 Address] Signature: [Witness 2 Signature]