MOU WEConnect International and WBENC
MEMORANDUM OF UNDERSTANDING
Between
Women's Business Enterprise National Council , Inc.
and
WEConnect International, Inc.
This Memorandum of Understanding ("MoU") is entered into this 4th day of February 2011, by and between Women's Business Enterprise National Council, Inc. ("WBENC") and WEConnect International, Inc. (WEConnect").
Preamble
Whereas, WBENC was incorporated in 1997 for the purpose of providing a national certification standard in the United States for women's business enterprises (WBE's);
Whereas, in 2007 at the request of WBENC's Global Business Committee, Quantum Leaps, Inc. ("Quantum Leaps") performed certain work regarding certification of women business enterpises (WBE's) outside of the United States;
Whereas, on June 20, 2008, WBENC and Quantum Leaps entered into a Memorandum of Understanding (the "Quantum Leaps MoU") and into an Agreement whereby Quantum Leaps undertook to incubate WEConnect and to work with WEConnect UK and WBENC to continue the work regarding certification of WBE's outside the United States;
Whereas, WEConnect International was incorporated in November 2009;
Whereas, many of the founding members of WEConnect International are also members of WBENC;
Whereas, WEConnect International's certification standards are based on WBENC's certification standards and WBENC has trained WEConnect personnel on conducting certification reviews using WBENC's methods and processes;
Whereas, the parties recognize that maintaining uniformity between Unites States and international certification standards and the certification review process is important to each party and to its members and WBEs;
Whereas, the parties further recognize the ties between them based on history, common membership, and the fundamental common interests of both organizations to build economic parity and enhance business opportunities for WBEs; and
Whereas, in light of the foregoing, the parties now wish to enter into this MoU in order to revise, renew, replace, and extend the Quantum Leaps MoU.
Now therefore, the parties agree as follows:
1. To work closely and collaborate in order to maintain uniformity between United States and international certification standards;
2. To work together to foster opportunities for WBEs to engage in cross-border strategic alliances and collaborate on bids for contracts; and
3. To collaborate on other topics of common interest; and, employ the capabilities of each one for the benefit of the common members and of WBEs everywhere.
4. In furtherance of the foregoing, the parties agree:
a. To maintain open lines of communication concerning the matters of common interest described herein, including without limitation, to hold quarterly consultations on the subject of certification standards and certification review processes, of which at least once a year shall be by face-to-face meeting of their representatives at WBENC's annual Women in Business Conference;
b. To promote research and case studies about supply chains, supplier diversity, and WBE utilization;
c. To identify international business opportunities and alliances for WBEs;
d. To explore the potential for marketing through each parties' websites;
e. To promote educational opportunities between the parties and their respective members;
f. To exchange information and best practices as appropriate regarding strategic initiatives of each organization and periodic updates thereto;
g. On launching, of WEConnect International's global WBE portal, to extend invitations to WBENC certified WBEs' to register with WEConnect global portal to network with WEConnect International members and WBEs based outside of the United States.
5. WEConnect International acknowledges that if it requests WBENC to train its personnel or provide technical consultation on certification standards or certification review processes, WBENC shall be entitled to compensation therefor, the amount and terms thereof to be agreed by the parties.
6. A party's signature on this MoU does not constitute a financial obligation on the part of such party and nothing herein is intended to establish between the parties the legal relationship of partners, joint venturers, or affiliates.
7. This MoU represents the good faith intention of the parties to collaborate on the subjects described in this MoU. The parties acknowledge and agree that nothing contained herein is intended to constitute a legally binding obligation.
8. Either party can, with or without cause, terminate this MoU at any time and without penalty upon written notice of such termination to the other.
9. Any modifications to this MoU must be made in writing and signed by both parties.
10. This MoU is governed by the laws of the District of Columbia, United States of America, and both parties consent to the jurisdiction of the courts of the United States of America in connection with any dispute over this MoU.
Women's Business Enterprise National WEConnect International, Inc.
Council, Inc.
By: __________________________________ By: __________________________________
Linda J. Denny Elizabeth A. Vazquez
President and CEO CEO and Co-Founder