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Symmetric Terms:
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- All Project Workorders are Between Geo and W3D.
Geo and W3D are expected to routinely enter into separate Contracts with their individual customers,
including for work done by the other side:
- As an example, Geo might enter into a contract with the Northwest E&P Research Institute in Lanzhou for US$250,000.
W3D might bid US$200,000. to do the work.
This means Geo would keep US$50,000. + 5% of US$200,000. or US$10,000. for a total of US$60,000.
W3D would recieive US$190,000.
- The 5% commission is intended to provide a minimum profit to help cover the overhead of doing business.
- The basis behind the cooperation is trust, having known each other for a long time, and treating each other in business and in personal interactions exactly how we wish to be treated ourselves.
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