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8-K - AVRA INC. - CURRENT REPORT FOR EVENTS OCCURRING ON AUGUST 31, 2015 - AVRA INC.avra8-kfor08312015.htm

Exhibit 10.1

JOINT VENTURE CONTRAC

 

THI JOIN VENTUR AGREEMENT  (th "Agreement) mad an entered  into  as  o thi 31 st   day  o Augus

2015 b Avr Inc. o 115 Pelha Common Boulevard Greenville,  Sout Carolina,  2961 an Mang Pay  SRL, o Plaza  Orleans rd  Floor Av Winsto Churchill,  Santo  Domingo Distrito  Nacional,  Dominican  Republic. 

 

 

ARTICL - GENERA PROVISION

 

1.0 Busines Purpose.  Th busines o th Join Ventur shall  b as  follows

 

Th busines o th join ventur shal b to  develo an pu into  operatio in  th Mang Pay kiosk globally th abilit to  purchase  bitcoin  with  loca currency and/o sell  bitcoin  i order  to withdra loca currenc fro th kiosk

 

1.0 Ter o th Agreement.  This  Join Ventur shal commence  o th date firs abov writte an shall continu i existence  until  terminated liquidated o dissolved  b la o as  hereinafter  provided

 

ARTICL I GENERA DEFINITIONS 

 

Th followin compris th general  definition o term utilize in  thi Agreement: 

 

2.0 Affiliate.  A Affiliate  o an  entit i a perso that,  directl o indirectl throug on o more intermediaries,  controls is  controlled  b o is  under  commo contro o such  entity

 

2.0 Capital  Contribution(s) Th capital  contributio to  th Join Ventur actuall mad b th parties, includin property cas an an additional  capital  contribution made. 

 

2.0 Profits  an Losses An incom o los o th Partnership  fo federal  incom ta purposes  determined b th Partnership's  fisca year including withou limitation each  ite o Partnership  income,  gain los or deduction

 

ARTICL II - OBLIGATIONS  O TH JOINT  VENTURERS 

 

Avr Inc.  i responsible  fo al operational  decision o th Join Venture,  Mang Pa will  b responsible fo th day-to-da caretakin o th machines  an all  th operational  requirements  includin integrations and programmin requirements

 

Specifically

 

3.01        Mang Pa SR will  b responsible  fo th developmen an integratio o th customer  facin

syste into  th kiosk an wil wor with  Avr Inc.  an it partner in  said  developmen an integration

 

3.02        Avr Inc. will  provid all  requested  documentatio an assistance  in  a timel manner  to  Mang

Pay  SR wit regard to  th Avr API workflows an an other  projec relevan documentatio required

 

3.03        Mang Pa SR will  provid regular  detailed  updates  o th progress  o developmen an update an change to  expected  releas dates. 

 

3.04        Both  parties  wil loo to  releas th platfor at  th earlies opportunity


 
 

3.05        Once  liv Mang Pay  SR will  b responsible  fo remittin monie at  their  earlies convenience  to Avr Inc.  to  cover  transaction enacted  in  their  machines.  Avr Inc.  reserves th righ to  suspen service  in th even o non-payment. 

 

3.06        Avr Inc.  will  b responsible  fo ensurin that  th AP is  available  an read to  distribute  a all times

 

ARTICL I - ALLOCATIONS 

 

4.0 Profits  an Losses Commencin o th date  hereo an endin o th terminatio o th busines of th Join Venture,  all  profits losses  an other  allocation to  th Join Ventur shall  b allocated  as  follows at th conclusio o each mont o sooner

 

Avr Inc.                     50 o transactio revenu durin th previou month.

Mang Pa SRL       50 o transactio revenu durin th previou month

 

Th revenu wil b generated  fro transactio fee  that  wil b paid  fo b th client.  Th fee  ma be amended  o agreemen o both  parties

 

4.0 Th clien fee  at  th outset  o thi agreemen will  b 5 o th clien transaction

 

4.0 Payment.  Revenu generated  an received  b Mang Pa SR fro Saturda 00:0 until  Frida at 

23:5 du to  Avr Inc.  will  b paid  b ban transfer  o deposit  to  th named  accoun o th following Monda provided  that  th tota amoun du i in  exces o RD$5,000 Should  th amoun du to  Avra exceed  $50,00 durin th cours o th week th full  amoun i du immediatel to  avoid  interruptio of service. 

 

4.0 Avr Inc.  reserves  th right to suspen service  immediatel i th even o non-payment. 

 

ARTICL - RIGHT AN DUTIE O TH JOINT  VENTURERS 

 

5.0 Busines o th Join Venture.  Avr Inc.  shall  hav full, exclusiv an complete  authorit and discretio in  th managemen an contro o th business  o th Join Ventur fo th purposes  herei stated an shal mak all  decision affectin th busines o th Join Venture.  A such an actio take shall constitute  th ac of an serv to  bind th Join Venture.  Mang Pa SR shall  manag an contro the affairs  o th Join Ventur to  th best  o it abilit an shall  us it best  efforts  to  carr ou th busines of th Join Venture. 

 

5.0 Mang Pay  SR agree that  it  will  exclusivel us th services  o Avr Inc. fo provisio o bitcoin throug their  networ o kiosk fo a perio o 1 year provided  that: 

 

·        Avr Inc. continue to  provid an  AP to  Mang Pay  SR

·        Avr Inc.  provides  appropriate  technica support to Mang Pa SR

·        Mang Pa SR receives  al it du commission i du cours

 

5.0 Mang Pay  SR als agree that  it  will  no compete  with  th activities  o th join ventur durin the ter o th agreement. 

 

ARTICL VI  - AGREEMENT WIT THIRD  PARTIE AND  WIT AFFILIATE O TH JOINT VENTURERS 

 

6.0 Validity  o Transactions Affiliate o th parties  to  thi Agreemen ma b engaged  to  perform services  fo th Join Venture.  Th validit o an transaction agreemen o paymen involvin th Joint Ventur an an Affiliates  o th parties  to  thi Agreemen otherwis permitted  b th term of this 

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Agreemen shall  no b affecte b reaso o th relationship  betwee the an suc Affiliates  o the approval  o said  transactions agreemen o payment. 

 

6.0 Other  Busines o th Parties  to  thi Agreement.  Th parties  to  this  Agreemen an their  respectiv

Affiliate ma hav interest i businesses  other  tha th Join Ventur business Th Join Ventur shall 

no hav th righ to  th incom o proceed derived  fro such  other  busines interest and even  i the are competitiv with  th Partnership  business suc busines interests  shall  no b deemed  wrongfu or improper

 

ARTICL VI - PAYMENT  O EXPENSE

 

All  expenses  o th Join Ventur shal b paid  b Avr Inc.  however  mus b approved  an agree b Avr

Inc.  befor incurred

 

ARTICL VII - INDEMNIFICATIO O TH JOIN VENTURERS 

 

Th parties  to  this  Agreemen shall  hav n liabilit to  th other  fo an los suffered  whic arises  ou of an actio o inactio if i goo faith it  is  determined  that  such  cours o conduc was  i th best  interests o th Join Ventur an suc cours o conduct  did  no constitute  negligence  o misconduct.  Th parties  to this  Agreemen shall  eac b indemnified  b th other  agains losses judgments liabilities expense and amounts  paid  in  settlemen o an claim sustained  b it  i connectio wit th Join Venture. 

 

ARTICL I –  DISSOLUTIO

 

9.0 Events  o th Join Venturers Th Join Ventur shal b dissolved  upo th happenin o an o the followin events

(a)  Th adjudicatio o bankruptcy filin o a petitio pursuan to  a Chapter  o th Federal 

Bankruptc Act, withdrawal,  removal  o insolvenc o either  o th parties

(b Th sale  o other  disposition no includin a exchang o all,  o substantiall all,  o th Join

Ventur assets

(c)  Mutual  agreemen o th parties

 

ARTICL X - MISCELLANEOUS  PROVISION

 

10.0 Book an Records Th Join Ventur shall  kee adequate  book an record at  its  place  o business, settin forth  a tru an accurat accoun o all  busines transaction arisin ou o an in  connectio wit

th conduct  o th Join Venture. 

 

10.0 Validity I th even that  an provisio o this  Agreemen shall  b held  to  b invalid th sam shall no affec i an respec whatsoever  th validit o th remainder  o thi Agreement. 

 

10.0 Integrated  Agreement.  This  Agreemen constitute th entire  understandin an agreemen among th parties  hereto  wit respec to  th subjec matter  hereof an ther ar n agreements understandings, restriction o warranties  amon th parties  other  than  thos set  forth  herein  provided  for

 

10.0 Headings Th headings titles  an subtitle used  i thi Agreemen ar fo eas o reference  onl and shall  no contro o affec th meanin o constructio o an provisio hereof

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10.0 Notices.  Excep as ma b otherwis specificall provided  in  this  Agreement,  all  notices  required  or permitted  hereunder  shal b in  writin an shal b deemed  to  b delivered  whe deposited  in  th United States mail,  postag prepaid certified  o registered  mail,  retur receip requested addressed  to  th parties  at their  respectiv addresse set  forth  in  this  Agreemen o at  such  other  addresses  as ma b subsequently specified  b writte notice. 

 

10.0 Applicable  La an Venue.  This  Agreemen shall  b construed  an enforce under  th law o th

State o Nevada. 

 

10.0 Other  Instruments The parties  hereto  covenan an agree  that  the will  execute  each  suc other  and further  instruments  an documents  as  ar o ma becom reasonabl necessar o convenien to  effectuate an carr ou th purposes  o this  Agreement. 

 

 

I WITNESS  WHEREOF,  th parties  hereto  hav executed  this  Agreemen a o th da an yea first abov written Signed sealed  an delivered  in  th presence  of

 

 

                /s/ Stephen  Shepher                                                          /s/ Vasili Smetanin 

Stephen  Shepherd                                                               Vasili Smetanin 

CEO,  Avr Inc.                                                                    CEO,  Mang Pay  SR

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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