Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Memorandum of Understanding, (2020)4. Guidelines for Mutual Assistance |
| 4.1 | The Parties may agree to participate in the conduct and review of projects which may be deemed necessary from time to time. |
| 4.2 | In the event of the Parties identifying and agreeing on a specific form of Co-operation that requires funding, the Parties will— |
| (a) | comply with the process(es) concerned/applicable (if any) to obtain approval for such funding/payment; and |
| (b) | thereafter formalise the specifics, rights and obligations of the Parties in a separate legally binding contract. |
| 4.3 | Each Party remains responsible for its own expenses, except as may be agreed in a contract contemplated in clause 4.2 above. |
| 4.4 | No legally binding obligations shall arise from a contract contemplated in clause 4.4 above, where a Party's applicable policies and procedures relating to the commitment of funding or other resources has not been complied with. |