Ostim Technical University and Universidad Simon Bolivar agree to implement this Cooperation Agreement, believing that the process of university education can be enriched and international understanding strengthened, and wishing to establish relations between the institutions, hereby agree to cooperate with each other in areas of common interest as follows:
1. Participating institutions shall endeavor to promote collaboration through a broad range of activities such as:
2. The terms of cooperation for each specific activity implemented under this Cooperation Agreement shall be mutually discussed and agreed upon by both parties in a separate agreement, after pre-approval of both the Senate of Ostim Technical University and the Senate Universidad Simon Bolivar, prior to the initiation of that activity. Any such implementation agreements will form appendices to this Cooperation Agreement.
3. Financial and/or funding considerations shall become the subject of specific discussion and agreement within the framework of a separate implementation agreement. Any such implementation agreements will form appendices to this Cooperation Agreement.
4. The Cooperation Agreement shall remain in force for a period of five years following the approval of the Higher Education Council of Turkey and from the date of the last signature. The Cooperation Agreement may be amended or extended by mutual written consent of the two parties after the approval of both the Senate of Ostim Technical University and the Universidad Simon Bolivar. The Cooperation Agreement may be terminated by the appropriate authorities of either party giving three months’ notice to the other party in writing; unless an earlier termination date is mutually agreed upon.
5. The Cooperation Agreement as outlined in this document is not intended to be a legally binding document. Rather, it is meant to describe the nature and cooperative intentions of those institutions involved guidelines for cooperation. Nothing, therefore, shall diminish the full autonomy of either institution nor may any constraints to be imposed by either upon the other.
6. Confidentiality:
Both parties are obligated to keep confidential the information received from the other party -if the other party requires- The confidentiality obligation will be effective beyond the termination of this MoU.
The parties shall work together to determine the key creative elements of the activities under this agreement. The term of this agreement is 5 years from the agreement's effective date. In the event that either party may terminate this agreement by giving the party a written notice to terminate. If any particular term, of this agreement is determined to be unenforceable, the unenforceability thereof will not affect the remaining provisions of this agreement, which will nevertheless remain in full force and effect.
Neither party hereto may assign this agreement without the written consent of the other. This agreement constitutes agreement between the parties with respect to the subject matter hereof, and supersedes all pre-existing agreements and understandings between them with respect thereto. Nothing in this agreement is intended or is to be deemed to create a joint venture between the parties. Each party represents and warrants that it has the full right and power to enter into this agreement and that it is fully ready, willing, and able to perform all its obligations hereunder.
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