EQUAA in Lima, Peru and ECBE in BELGIUM, (hereafter referred to as the parties) agree to establish a cultural and academic cooperation under the following terms:
Purpose of Agreement
EQUAA and ECBE will collaborate to explore opportunities within the following areas:
- To promote and improve quality business education.
- The cooperation in a joint accreditation agency to be known as “EQUAA-ECBE”
- The inclusion of member educational institutions of one party as members of the other party for a fee to be determined.
The following agreement does not involve financial compromise either of the parties involved. For any specific project in which both parties agree to participate, a specific agreement including the financial terms shall be agreed and signed accordingly. This could take the form of an annexe to the present Memorandum of Cooperation.
Use of logos
EQUAA and ECBE will be entitled to use each other´s logo and related promotional material in their marketing activities. All such promotional material (other than the logo) and any subsequent revisions, must be submitted to the other party for approval prior to being used.
Confidentiality of Personal Data
EQUAA and ECBE undertake not to disclose or reveal in any way personal data in compliance with the agreements and they must communicate with each other subject to the responsibilities required by law should it contravene the provisions of this article.
Duration of Agreement
This agreement will be operative for a period of 2 years and will be renewed automatically unless either party expresses a desire to review, modify or suspend the agreement. This agreement can be terminated by either party by means of a 60 day written notification.
Extension of this Agreement
This agreement may be extended to other areas of cooperation between the parties involved. Such extensions will take the form of an annexe to this agreement.
Effective Date of this Agreement
This agreement will become effective upon the date of signature by the stated representatives of both parties. The signing of this document by the representative of ECBE is, further on, subject to approval by the ECBE Board of Directors within one month after the signature.
For each party, the chief executive officer or their designated representative will serve as chief implementation officer for the areas of cooperation developed under this agreement.