Memorandum of Understanding Between M/s Singapore Retailers Association (SRA) Singapore And M/S Academy of Management Studies (AMS) 13, Press complex, A. B. Road Behind Dainik Bhaskar press, Indore 452001 Madhya Pradesh, INDIA SRA and AMS agree to collaborate and cooperate with each other for conducting courses / training programmes, in the geographical area defined below, in the field of Retail Management Geographical Areas: India (Indore) and Singapore List of courses / training programmes planned at present are: i) SRA’s Effective Retail Selling Skills (ERSS) programme to be conducted in. India ii) SRA’s Fundamentals Of Visual Merchandising (FVM) to be conducted in India iii) SRA’s Retail Supervisory Management (RSM) programme to be conducted in Singapore as part of training for AMS" Post Graduate Diploma In Retail Management (equivalent to Executive MBA) iv) Other Courses from time to time as agreed by both parties v) New courses / training programmes may be added over a period of time as per mutual understanding.ii, iii, iv, vi Responsibilities of Singapore Retailers Association (SRA) To provide faculty for conducting the teaching / training programmes as per mutually agreed according to the schedule af days and dates, (with 12 weeks? lead time), and only for courses / topics where it is mutually agreed upon to do so. To provide master copy of course material for photocopying and binding the required sets by AMS Indore To provide PGDRM students a Certificate of Attendance for the Retail Supervisory Management programme, upon successful completion of the course, issued by SRA SRA to have training agreement with AMS Indore, India, for the Retail Supervisory Management programme as part of the PGDRM (Executive MBA), all over India. Responsibilities of Academy of Management Studies (AMS), Indore To announce the training programmes / courses from time to time and market them to individuals and / or organizations in all parts of India. (Schedule and timings to be pre-determined after joint concurrence with SRA and generally with 12 weeks’ notice period), To generate enquiries, through advertising and other promotional methods, and achieve adequate number of enrolments for each of the course / programme as specified below: a) Minimum 20 participants, Maximum 25 participants for the ERSS and FVM training programmes, +b) Minimum 20 students, Maximum 60 students for the PGDRM course. AMS will send the students to Singapore in batch sizes of 25 students AMS will open branches all over India with other institutes if required. Other wise AMS will run their Branch all over India to reach to maximum students. AMS will be responsible for quality of education throughout the country ( India ) ‘To provide training hall / classroom and other infrastructure as necessary for conducting the course / programme effectively, including the hospitality requirements for participants in the case of Management development programmes ‘To provide Overhead Projector , Computer with LCD Projector, and other training equipment as per requirementsvii Viii. ix, ii iii, iv. vi. vii. To arrange photo-copying and spiral binding of the course material from the master copy provided by SRA To provide arrangements in respect of travel, local conveyance, decent lodging & boarding of the faculty deputised by SRA. Cost for all travel expenses of SRA trainers shall be borne entirely by AMS To remit the due amount in respect of faculty — fees and cost of air ~ travel (to & fro air — fare by economy class) / train travel / bus travel to be received into SRA’s Bank Account by electronic / telegraphic transfer / Demand Draft at least ‘one month before commencement of each training programme course (Proforma Invoice will be sent to AMS by e-mail / fax as per requirements) Commercial Details AMAS will collect all fees from students/participants In the case of the PGDRM (Executive MBA), course fees for the Retail Supervisory Management programme will be collected by AMS and sent to SRA at least one month before commencement of RSM programme. Course fees to be received into SRA’s Bank Account by electronic / telegraphic transfer / Demand Draft (Proforma — Invoice will be sent to AMS by e-mail / fax as per requirements) Faculty for all other modules other than the Retail Supervisory Management programme, of the PGDRM (Executive MBA), will be eppointed by AMS as per international standard Payments in all cases will be made to SRA by AMS against a Performa-invoice, and service tax will be paid as applicable Validity of this MOU will be upto 31 July 2011, and to be continued thereafter as per mutual review and agreement, In case either party wishes to discontinue this arrangement, same may be done by a written notice of 90 days from either side. However, both parties will ensure completion of their existing contractual obligations in totality and ensure that the students enrolled in the various courses do not suffer in any manner whatsoever. In case of any dispute, the matter shall be settled mutually by arbitration only.