The Jomee Jomaa service and network (collectively, the "Service"") are operated by Jomee Jomaa Ltd. (collectively, "Jomee Jomaa", the “Company” "we", or "us"). Our website http://www.jomeejomaa.com/, including any subdomain thereof (the "Platform"), was designed to help our users and the public at large view information regarding our Service, and to use information, content, messages, products, services, software and databases available via the Platform.
By accessing the Platform, you (the "User" or "you") signify that you have read, understand and agree to be bound by these terms of use ("Terms" ), regardless of whether you are a registered member of the Service. In addition to these Terms, you may enter into other agreements with us or others that will govern your use of the Service or related services offered by us or others. If there is any contradiction between these Terms and another agreement you enter into applicable to specific aspects of the Service, the other agreement shall take precedence in relation to the specific aspects of the Service to which it applies. As used herein, "Users" means anyone who accesses and/or uses the Platform, as well as anyone who owns units of property that were originally issued via the Platform. For any terms herein applicable to all Users, all investor members, or business and other entity Users specifically, or where the context otherwise requires, "Users" shall be deemed to include any business or other entity on behalf of which the Platform or Service is accessed by any other User, and "you" shall be deemed to include any such business or other entity and any person acting on behalf of any such business or other entity in connection with the use of the Platform or Service.
PLEASE REVIEW THESE TERMS CAREFULLY. THIS AGREEMENT REQUIRES THE PARTIES TO RESOLVE DISPUTES THROUGH FINAL AND BINDING ARBITRATION ON AN INDIVIDUAL BASIS.
Changes to these Terms of Use
We may make changes to these Terms from time to time in our sole discretion. If we do this, we will post the changed Terms on the Platform and will indicate at the top of this page the date the Terms were last revised. You understand and agree that your continued use of the Service or the Platform after we have made any such changes constitutes your acceptance of the new Terms.
ALL USERS: ELIGIBILITY, LICENSE AND REPRESENTATIONS
Eligibility: General
You must be at least 18 (Eighteen) years of age and have a bank account or MFS account in Bangladesh to use the Jomee Jomaa Service.
Proprietary Rights in Platform Content; Limited License
All content on the Platform, including but not limited to designs, text, graphics, pictures, video, information, software, music, sound and other files, and their selection and arrangement (the "Platform Content"), are the proprietary property of Jomee Jomaa with all rights reserved, except the copyright to certain images or videos appearing on the Platform may belong to third-parties and we are using such images as a fair and permissible use and/or with the consent of the copyright holder. No Platform Content may be modified, copied, distributed, framed, reproduced, republished, downloaded, displayed, posted, transmitted, or sold in any form or by any means, in whole or in part, without Jomee Jomaa's prior written permission, except as provided in the following sentence and except that the foregoing does not apply to your own User Content (as defined below) that you legally post on the Platform. Provided that you are eligible for use of the Platform, you are granted a limited license to access and use the Platform and to download or print a copy of any portion of the Platform Content solely for your use in connection with your use of the Platform or Service, provided that you keep all copyright or other proprietary notices intact. Except for your own User Content, you may not republish Platform Content on any Internet, Intranet or Extranet Platform or incorporate the information in any other database or compilation, and any other use of the Platform Content is strictly prohibited. Any use of the Platform or the Platform Content other than as specifically authorized herein, without the prior written permission of Jomee Jomaa, is strictly prohibited and will terminate the license granted herein. Such unauthorized use may also violate applicable laws including without limitation copyright and trademark laws and applicable communications regulations and statutes. Unless explicitly stated herein, nothing in these Terms shall be construed as conferring any license to intellectual property rights, whether by estoppel, implication or otherwise. This license is revocable by us at any time without notice and with or without cause.
You may review personal information posted by or relating to other Users on the Platform, but you are not authorized to disclose such information for any purpose. You may not reproduce any personal information. Further, you represent and warrant that: (i) you do not have the ability to match any personal information posted by or relating to other Users to the identity of any individual; (ii) you will not make any attempt to obtain data permitting you to match any personal information posted by or relating to other Users to the identity of any individual; (iii) you will not accept any information from any third party that permits such a match; and (iv) you will make no such match.
Restrictions on Data Collection/Termination
Without our prior consent, you may not:
use any automated means to access this Platform or collect any information from the Platform (including, without limitation, robots, spiders, scripts or other automatic devices or programs);
frame the Platform, utilize framing techniques to enclose any Content or other proprietary information, place popup windows over this Platform's pages, or otherwise affect the display of this Platform's pages; engage in the practices of "screen scraping", "database scraping" or any other activity with the purpose of obtaining content or other information; or
use this Platform in any manner that violates applicable law or that could damage, disable, overburden, or impair this Platform or interfere with any other party's use and enjoyment of this Platform.
We may terminate, disable or throttle your access to, or use of, this Platform and the Services for any reason, including without limitation, if we believe that you have violated or acted inconsistently with any portion of these Terms.
ALL USERS: CONSENT TO ELECTRONIC TRANSACTIONS AND DISCLOSURES
Because Jomee Jomaa operates on the Internet, it is necessary for you to consent to transact business with us online and electronically. As part of doing business with us, therefore, we also need you to consent to our giving you certain disclosures electronically, either via our Platform or to the email address (or other electronic means of communication) you provide to us. By agreeing to the Terms, you explicitly agree to receive electronically all documents, communications, notices, contracts, and agreements arising from or relating to your use of the Platform and Service. The decision to do business with us electronically is yours.
Electronic Communications. Any Disclosures will be provided to you electronically through jomeejomaa.com either on our Platform or via electronic mail to the verified email address you provided or through other electronic means of communication based on information provided by you. If you require paper copies of such communication or receipt, you may write to us at the mailing address provided below and a paper copy will be sent to you at a cost of up to BDT 200. A request for a paper copy of any communication or receipt will not be considered a withdrawal of your consent to receive communication electronically.
Scope of Consent. Your consent to receive communication and transact business electronically, and our agreement to do so, applies to any transactions to which such communications relate, whether between you and Jomee Jomaa or between you and another party with whom you transact through the Platform. Your consent will remain in effect for so long as you are a User and, if you are no longer a User, will continue until such a time as all communications relevant to transactions that occurred while you were a User have been made.
Consenting to Do Business Electronically.Before you decide to do business electronically with Jomee Jomaa, you should consider whether you have the required hardware and software capabilities described below.
Withdrawing Consent. You may not withdraw consent to doing business with us electronically for as long as you have outstanding any investments made through the Platform. If you have no outstanding investments made through the Platform and wish to withdraw consent to doing business electronically, we will terminate your registered Platform Account with us. This does not apply to any marketing or promotional materials.
How to Contact Us regarding Electronic Disclosures.You can contact us here.You may also reach us in writing to us at the following e-mail address: support@jomeejomaa.com
If you are an individual User, you will keep us informed of any change in your email or home mailing address so that you can continue to receive all Disclosures in a timely fashion. If your registered email address changes, you must notify us of the change here. You also agree to update your registered residence address and telephone number on the Platform if they change. If you are a business or entity User or are acting on behalf of a business or entity, you will keep us informed of any change to your email address, contact number and primary business address.
You may print a copy of this Agreement for your records and you agree and acknowledge that you can access, receive and retain all communication electronically sent via email or posted on the Platform.
REGULATORY INFORMATION AND AGREEMENT
Jomee Jomaa Limited is a limited company registered in Bangladesh. Jomee Jomaa is a financial-technology company providing innovative and digital solutions for its users to invest in land properties in Bangladesh.
The Company solely allows you to invest in land properties listed on the Platform. It is your responsibility to assess whether the Platform is suitable or appropriate for your needs and any decision made to use our Service is done so entirely at your own risk. Please be aware that execution of these Terms does not imply that we have confirmed that use of the Platform and our Services are suitable or appropriate for you.
Investment Properties
You will receive communication and updates about your investment into properties listed by Jomee Jomaa both on the Platform and through the email address you provided during registration. You are expected to review all communications (notifications, updates, reports, etc.) from Jomee Jomaa as it represents a record of information pertaining to your investment(s).
Jomee Jomaa makes reasonable efforts to verify all documents related to the land property as presented by third-party seller(s) to ensure that the land is in good standing in terms of up-to date paperwork. You have the right to access and independently verify the authenticity and accuracy of the documentation(s). However, Jomee Jomaa reserves the right to redact or withhold any personally identifiable information of the seller, such as Name, NID, etc. for privacy and security reasons.
Jomee Jomaa acquires the rights to list land properties on its platform through any of the following means, individually or in combination:
Purchase: Jomee Jomaa may acquire the rights to list land properties through direct purchase of land property from the property owners or their authorized representatives.
Power of Attorney: Jomee Jomaa may acquire the rights to list land properties through valid and legally binding power of attorney agreements, granting it the authority to act on behalf of property owners or their authorized representatives for the purpose of listing and managing the properties.
Earnest Money Deposit: Jomee Jomaa may acquire the rights to list land properties through secured earnest money deposit or similar financial arrangement with property owners or their authorized representatives, subject to mutually agreed terms and conditions.
Investment Terms
You acknowledge that Jomee Jomaa does not provide investment advice or a recommendation of investments. All investments made using the Jomee Jomaa platform is independently.
The information provided on Jomee Jomaa's platform, including property details, predicted financial data, and market analysis, is for informational purposes only.
All investment decisions made by users of the Jomee Jomaa platform are solely at their discretion and responsibility. Users are solely responsible for conducting their own due diligence, assessing risks, and making informed investment choices. Jomee Jomaa does not assume any liability or responsibility for the accuracy, completeness, or timeliness of the information provided on the platform.
Investing in real estate, including fractional investments in land properties, carries inherent risks, and users acknowledge and agree that they bear all risks associated with their investments. Jomee Jomaa strongly recommends that users seek independent financial and legal advice before making any investment decisions.
All investments on the Platform and consequent payment(s) made to Jomee Jomaa are considered final Users.
Estimated Maturity Period and Flexibility
Jomee Jomaa provides an estimated duration for each investment property listed on the Platform, denoted as "Approx. maturity." Users acknowledge and understand that this duration is purely an estimate and is subject to change. Jomee Jomaa reserves the sole and absolute right to modify or adjust the maturity period for investments based on evolving market conditions, investment performance, and other relevant factors.
Jomee Jomaa's primary objective is to maximize return on investment (ROI) for its users. To achieve this goal, it may be necessary for Jomee Jomaa to alter the maturity period of an investment property. Such adjustments are made with the intention of optimizing the investment's performance and potential returns for users.
While Jomee Jomaa endeavors to provide accurate and reliable estimates, users acknowledge that the actual duration of an investment may differ from the initial approximation due to unforeseen circumstances or changes in market dynamics.
Users are encouraged to regularly review investment details and the "Approx. maturity" period for each property, as it may be updated to reflect Jomee Jomaa's efforts to enhance investment outcomes.
Expected Return and Disclaimer of Guarantee
Jomee Jomaa provides an estimated return for each investment property listed on the Platform, labeled as "Forecasted return at maturity." Users acknowledge and understand that this expected return is purely an estimate and is contingent upon various factors, including but not limited to the market value of the property at maturity.
Users further acknowledge and agree that Jomee Jomaa cannot and does not provide any guarantee or assurance regarding the specific return on investments made using the platform. The actual return on investment is subject to numerous variables, including the investment's duration, prevailing market conditions, unforeseen events, economic fluctuations, and other factors beyond Jomee Jomaa's control.
Jomee Jomaa's overarching objective is to diligently work toward maximizing the return on investment (ROI) for its users. To achieve this goal, Jomee Jomaa is committed to employing best practices and making informed decisions regarding investment properties. However, users understand that despite these efforts, the actual ROI may vary from the estimated return provided on the platform.
It is important for users to recognize that all investments carry inherent risks, and past performance or estimated returns should not be construed as indicative of future results. Users are encouraged to perform their own due diligence, consider their individual risk tolerance, and seek independent financial advice before making investment decisions.
Finality of Investments and Transactions
All investments made on the Jomee Jomaa platform, along with any consequent payments remitted to Jomee Jomaa, are considered irrevocable and final. Users are strongly advised to exercise due diligence and conduct a thorough review of all available information before making any investment decisions. It is the user's responsibility to ensure that their investment aligns with their investment strategy and objectives.
Once an investment transaction is executed on the platform, Jomee Jomaa will not entertain requests for cancellation, reversal, or refund of the invested amount. Users are bound by the investment choices they make.
However, Jomee Jomaa reserves the sole and absolute right to cancel or reverse an investment transaction and return the invested amount to the user under the following circumstances:
Jomee Jomaa has reasonable doubt, based on its internal assessment and investigation, or has obtained confirmation of a breach of the agreement terms by the user.
Any legal or regulatory authority mandates the cancellation or reversal of the transaction.
Any fraudulent or unauthorized activity is detected in connection with the investment transaction.
Any material error or technical malfunction occurs that necessitates the cancellation or correction of the transaction.
Jomee Jomaa shall exercise its discretion judiciously and in accordance with applicable laws and regulations. Users acknowledge and accept that they may be subject to transaction reversal and refund in cases where such actions are warranted.
Payment Processing
Jomee Jomaa does not process payments directly, but instead utilizes third-party partners to process payment transactions on behalf of Users through the appropriate bank, credit card or debit card network, as applicable. When a User chooses to use the Service to make an investment in a Jomee Jomaa listed land property, the User hereby consents to any appropriately licensed third party agent appointed by Jomee Jomaa facilitating and/or processing payments made or received through the Service, including, without limitation, the consent to access, charge or debit a payor's credit card, debit card, bank account or other payment mechanism (but only upon receipt of instructions to do so from User and only for the purposes and within the limits of such instructions); (b) Each User acknowledges and agrees that a payment transaction made through the Service is a transaction between Users wishing to invest in a Jomee Jomaa offering and Jomee Jomaa. (c) Users may only use the Service to process a payment transaction for investment in a Jomee Jomaa offering through a legitimate, bona fide sale of such product or service. Users may not use the Service to purchase any illegal goods or services or for any other underlying illegal transaction; and (d) Unless held in escrow in accordance with the terms governing an investment by the User, as agreed between the User and Jomee Jomaa at the time of investment, all payment transactions processed through the Service are non-refundable to a User by Jomee Jomaa and are non-reversible by a User through the Service. Users may have additional refund or charge-back rights under the agreement a User has with the issuer of the User's payment instrument (i.e. its credit or debit card agreement or bank) or applicable laws. User should review its periodic statement received from the issuer of its payment instrument, which will reflect all purchase transactions through the Service.
Other Applicable Fees
Jomee Jomaa and applicable offerings may carry fees related to management of assets. These will be detailed in the communications with users.
Usage of Secondary Marketplace
You have the right to list your owned property units for sale on the Secondary Marketplace at any time. Jomee Jomaa does not guarantee the sale of the units listed by you in the Secondary Marketplace within any specified time period or at all. Jomee Jomaa sets the price of property units based on latest market valuation of the associated land property. All transactions within the Platform, including the Secondary Marketplace, will take place at the price set by Jomee Jomaa. Users do not have the rights to set price of the property units or dispute prices set by Jomee Jomaa. Jomee Jomaa will make all reasonable efforts to ensure that the property units reflect the real value of the land property in the free market at the time of transactions. All sales in the Secondary Marketplace will be considered final and irreversible.
Profit-Sharing Provision
Users acknowledge and agree that Jomee Jomaa reserves the right to claim a share equivalent to 20 percent (20%) of all profits derived from investments made on the platform. Profits, for the purposes of this provision, are defined as returns on investment or the sale value of property units generated in excess of the original amount invested by the user.
Jomee Jomaa's entitlement to a portion of profits is contingent upon the user's realization of positive returns beyond the initial investment amount, excluding any fees such as transaction fee, government fee, etc. This profit-sharing mechanism is designed to align the interests of both parties and facilitate the sustainability and growth of the Platform.
Users understand and accept that the profit-sharing percentage, in this case, is fixed at 20 percent (20%) of the net profits, and this percentage is non-negotiable. Users also acknowledge that this profit-sharing arrangement applies solely to the realized gains or returns on investment directly associated with the user's investments made through the Jomee Jomaa platform.
The user's original invested amount remains unaffected and is not subject to profit-sharing. The profit-sharing obligation shall apply solely to the net profits generated through successful investments.
Return of Invested Amount and Profits Upon Successful Exits
Upon the occurrence of successful exits from investments, typically arising from the sale of land property to a third party, Jomee Jomaa is obligated to return the user's original invested amount, along with the user's entitled share of profits.
The return of funds shall be facilitated through electronic transfer to the bank account provided by the user, which must be held with a financial institution operating in Bangladesh. In certain cases, where applicable and as determined by Jomee Jomaa, funds may also be transferred to the user's Mobile Financial Services (MFS) account in Bangladesh.
Users acknowledge and consent to the electronic transfer of funds as the standard method of disbursing returns on investments. The user is responsible for ensuring that their provided bank or MFS account information is accurate, up to date, and compliant with the relevant regulations.
It is the user's responsibility to promptly provide any necessary information or documentation required for the transfer of funds. Jomee Jomaa will make reasonable efforts to execute these transfers in a timely manner following the successful exit event.
Users understand that the return of funds may be subject to applicable taxes, fees, or other deductions required by law, and Jomee Jomaa shall comply with all relevant legal requirements in processing such transactions.
Disposition of Earnings in Case of User's Death or Legal Incapacity
In the unfortunate event of a user's death or legal incapacity, all earnings generated from investments made through the Jomee Jomaa platform shall be disbursed as follows:
To the Nominee: If the user has nominated an individual on the Jomee Jomaa platform to receive their earnings in the event of their demise or legal incapacity, such earnings shall be paid to the nominated individual as per the details provided by the user. Jomee Jomaa shall act in accordance with the user's nomination, provided that the nominee details are accurate and valid.
In Absence of a Nominee: In the absence of a designated nominee, the earnings generated from investments made through Jomee Jomaa shall be deposited into the user's bank account, which must have been previously provided by the user on the platform. The user is responsible for ensuring the accuracy and completeness of their bank account information.
Transfer to Successors: In the event that it is not possible to transfer the earnings to the designated bank account of the user, the same shall be disbursed to the user's legal successors, subject to the satisfactory submission of proper documents as proof of such succession. The determination of proper documents and proof of succession shall be made at the discretion of Jomee Jomaa, in compliance with applicable legal requirements.
Users acknowledge and accept that the disposition of earnings under these circumstances is subject to applicable laws and regulations governing the transfer of assets in cases of death or legal incapacity.
Prohibition of Money Laundering
Users are strictly prohibited from utilizing this platform for the purpose of money laundering or engaging in any suspicious or illicit transactions. Money laundering activities, as defined by applicable laws and regulations, include but are not limited to, the conversion, transfer, concealment, or disguise of the proceeds of unlawful activities.
In the event that Jomee Jomaa discovers, through its monitoring and due diligence efforts, that the platform is being employed for money laundering or any other suspicious transactions, Jomee Jomaa has a legal and ethical obligation to promptly report such activities to the relevant authorities, as required by law, without recourse to the user.
Users acknowledge and agree that Jomee Jomaa's commitment to preventing and reporting money laundering activities is in accordance with its legal obligations and the broader objective of maintaining the integrity and security of the financial system.
Jomee Jomaa shall cooperate fully with law enforcement agencies and regulatory authorities in the investigation and prosecution of any money laundering or suspicious activities occurring on the platform.
Users further understand that any participation in money laundering or suspicious transactions is a breach of these terms and conditions and may result in legal action, including but not limited to the suspension or termination of their access to the platform.
Commencement, Duration, and Termination of Terms
These Terms shall become effective on the date of your registration to invest on the Jomee Jomaa Platform and shall remain in force and binding for the duration of your active and outstanding investments on the Platform, unless otherwise terminated in accordance with the provisions outlined below.
Superseding by Amended Terms: These Terms may be superseded by any amended Terms introduced by Jomee Jomaa. Users will be provided with notice of such amendments in accordance with the notification provisions outlined in these Terms.
Termination by User: Users have the option to terminate these Terms, provided that they have no outstanding investments on the Jomee Jomaa Platform. To initiate termination, users must submit a written notice to support@jomeejomaa.com, following the termination procedures specified herein.
Termination by the Company: Jomee Jomaa reserves the right to terminate these Terms at any time, without notice, in its sole discretion. Such termination may occur for any reason deemed appropriate by the Company.
In the event of termination, whether initiated by the user or the Company, users acknowledge and understand that their access to the Jomee Jomaa Platform and associated services will be discontinued, and any outstanding investments shall be subject to the applicable terms and conditions for exit and fund disbursement, as outlined in these Terms and any relevant policies.
Termination of these Terms shall not affect the rights and obligations that, by their nature, should survive termination, including but not limited to clauses addressing dispute resolution, intellectual property, confidentiality, and indemnification. Users are encouraged to review these Terms regularly to stay informed about any updates or amendments.
Taxation of Earnings:
Unless otherwise mandated by applicable laws, government regulations, or any competent authority, the taxation of any earnings generated from investments on the Jomee Jomaa Platform is subject to the individual taxation criteria and responsibilities of the user.
Jomee Jomaa shall not withhold or deduct any amount for tax purposes from the earnings made by the user on the platform. It is the user's sole responsibility to comply with all applicable tax laws, report their earnings accurately, and fulfill any tax obligations arising from their investments.
Users are strongly advised to seek professional tax advice and guidance to ensure full compliance with their personal tax obligations. Jomee Jomaa does not provide tax advice or take on any role related to tax collection, reporting, or remittance on behalf of the user.
In the event that Jomee Jomaa is required by applicable laws, government regulations, or any competent authority to fulfill any tax-related obligations, such as reporting or withholding taxes on behalf of the user, Jomee Jomaa shall comply with the legal requirements and procedures as specified by the relevant authorities.
Users acknowledge and accept that their earnings may be subject to taxation in accordance with the tax laws of their jurisdiction, and they are responsible for fulfilling all associated tax obligations.
Acknowledgment of Privacy Policy
By using the Jomee Jomaa Platform, you hereby confirm that you have thoroughly read and comprehended the provisions outlined in the Company's Privacy Policy. The Privacy Policy governs the collection, usage, and storage of personal information that you provide to Jomee Jomaa.
You further acknowledge and accept that the Company reserves the right to make amendments and updates to the Privacy Policy as necessary. Any changes to the Privacy Policy will be effective upon their publication, and you agree to review the Privacy Policy periodically to stay informed about any modifications.
Your continued use of the Jomee Jomaa Platform following the posting of changes to the Privacy Policy shall constitute your consent and acceptance of the updated terms and practices described therein.
It is your responsibility to ensure that you are familiar with the latest version of the Privacy Policy and to contact us if you have any questions or concerns regarding the use and protection of your personal information.
User Obligations and Indemnification
Investment Outcomes: You acknowledge and agree that the Company bears no obligation to reimburse or indemnify you for any costs, losses, or liabilities incurred as a result of an investment failing to yield returns according to your expectations.
Indemnification: You agree to indemnify and hold harmless the Company, its agents, and subcontractors against all liabilities, costs, expenses, damages, and losses, which may include direct, indirect, or consequential losses, loss of profit, loss of reputation, interest penalties, and reasonable legal and professional costs and expenses. This indemnification applies to instances where:
a. You engage in fraudulent or illegal use of the Platform, Services, or Website.
b. You act negligently or default on any of these Terms or the terms of any Loan Agreement to which you are matched.
c. You knowingly provide inaccurate or incomplete information to us.
d. You fail to maintain the confidentiality of your username and password, allowing another person access to your account, whether with or without your permission.
e. You offer any services to third parties using our Platform, Services, or Website, with or without our permission.
f. Any claims are made against you for actual or alleged infringement of the Company's Intellectual Property Rights or any actual or alleged infringement of a third party's Intellectual Property Rights arising from or in connection with the Services or your use of the Platform.
Your obligation to indemnify the Company extends to any losses, damages, or liabilities incurred by the Company as a result of the scenarios described above. This indemnification shall apply to the fullest extent permitted by applicable laws and regulations.
You understand and accept that this indemnification provision is an integral part of these Terms and is essential to the operation of the Platform and the provision of services by the Company.
Governing Law and Dispute Resolution
Governing Law: This Agreement shall be governed, construed, and interpreted in accordance with the laws of Bangladesh. All rights and obligations arising under or in connection with this Agreement, including any disputes or controversies, shall be subject to the exclusive jurisdiction of the courts of Bangladesh.
Dispute Resolution: In the event of any dispute or controversy arising out of or relating to this Agreement that cannot be resolved through mutual agreement or negotiation within a period of 30 days from the date the dispute arises, the parties shall submit the dispute to arbitration in accordance with the provisions of the Arbitration Act, 2001 of Bangladesh.
Arbitration Proceedings: The arbitration proceedings shall be conducted in accordance with the Arbitration Act, 2001 of Bangladesh. The arbitration shall be binding, and the award rendered by the arbitrator(s) shall be final and non-appealable.
Seat of Arbitration: The seat of arbitration shall be Dhaka, Bangladesh.
Language of Arbitration: The language of the arbitration proceedings shall be English or Bengali
Costs of Arbitration: The costs and expenses of the arbitration proceedings, including the fees of the arbitrator(s), shall be borne by the parties as determined by the arbitrator(s) in the final award or as otherwise directed by applicable law.
Enforcement of Arbitration Award: Any award rendered by the arbitrator(s) may be enforced in any court of competent jurisdiction, and the parties agree to be bound by any such award.
Continuation of Obligations: The parties shall continue to perform their respective obligations under this Agreement during the pendency of any dispute resolution proceedings, unless such obligations are suspended or modified by mutual agreement or as ordered by the arbitrator(s) in accordance with applicable law.
By entering into this Agreement, the parties expressly consent to the above governing law and dispute resolution provisions and agree to abide by them.
Adaptation to Changes in Law or Regulations
In the event that, subsequent to the date of this Agreement, any change in applicable laws or regulations or the interpretation thereof by any court of law or other governing body having jurisdiction renders the performance of any provision of this Agreement or any transaction contemplated hereby impractical or impossible, the Parties to this Agreement shall diligently seek to identify and implement an alternative means that achieves the same or substantially the same result as originally contemplated by such provision.
The Parties shall engage in good faith efforts to navigate and address the challenges posed by such changes in law or regulations. These efforts may include, but are not limited to, seeking legal advice, negotiations, revisions to this Agreement, or other appropriate actions to mitigate the impact of the regulatory change while preserving the fundamental purpose and intent of the affected provision.
The Parties shall promptly communicate and collaborate with one another to adapt to the altered legal or regulatory landscape, with the overarching goal of ensuring continued compliance and the effective realization of the objectives set forth in this Agreement.
This provision is intended to reflect the Parties' commitment to addressing unforeseen regulatory developments while upholding the underlying principles and goals of this Agreement.
Notwithstanding the above, if it is determined that no reasonable alternative means can be found to achieve the original intent of the affected provision, the Parties may be excused from performance of that specific provision to the extent that such performance is rendered truly impractical or impossible by the regulatory changes.
This clause serves as a mutual understanding and commitment by the Parties to adapt and find solutions in response to legal or regulatory shifts beyond their control.
No Waiver
The failure of Jomee Jomaa to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision in that or any other instance. If any provision of these Terms is held invalid, the remainder of these Terms shall continue in full force and effect. If any provision of these Terms shall be deemed unlawful, void or for any reason unenforceable, then that provision shall be deemed severable from these Terms and shall not affect the validity and enforceability of any remaining provisions.
