Draft MOU with Diponegoro university Essay

ThisMemorandumof Understanding(MoU) recordstheintentionofDiponegoro University, in particular its Business School, (hereinafter referred to as â€Å"DU†) and the Institute of Management Technology (hereinafter referred to as â€Å"IMT†) to work together to establish one or more agreements for international. academic collaboration. It is made as a non binding gesture of goodwill between the two institutions. Period of Agreement ThisMoUshallbecomeeffectiveonthedateoffinalsigningandwillberenewableevery 5 years upon the mutual consent of both parties. This MoU may be revised or cancelled  by mutual written consent by the signatories or their designated representatives. Other matters not covered by this Memorandum shall be decided by mutual agreement and may be subject to the conclusion of formal written contracts between us. The parties shall review the operation of this Memorandum on an annual basis. Purpose and Areas of Potential Collaboration DU and IMT share an aspiration to: 1. Promote the exchange of qualified graduate students, enrolled on their respective postgraduate degree programs, who will be admitted according to the entry regulations of the host institution; 2. Promote the exchange of faculty for joint teaching and research; 3. Promote collaborative research in areas of mutual interest with a view to publishing by joint authorship; 4. Organize joint International conferences/seminars, symposia and workshops; 5. Develop any other programs mutually agreed upon during the period of this MOU. The development of a collaborative relationship between the parties is subject to: A. The approval of the relevant authorities of both DU and IMT and will be subject to norms & procedures of academic standards of both the partner Institutions. B.  Obtaining all necessary or advisable governmental, regulatory or other relevant approvals, consents or licenses. The parties agree to the following for the period of this agreement, subject to specific agreement at any particular time: Student Exchange: 1. The parties shall exchange a maximum of 5 graduate students per year, with parity to be achieved over the period of this MoU. If parity is not achieved, the parties agree not to request financial or other compensation; 1. Exchanges shall be arranged for a maximum of two semesters/terms. The period ofstudy maybe followedby aninternship,thearrangementsforwhich shallbe  agreedbythepartiesinadvanceofthecommencementoftheexchangeto comply with any visa regulations; 2. Students participating in the program will be accepted as non-award candidatesbythehostinstitution,providedthattheyfulfilltheadmission requirements of the host institution. Since instruction in both the institutions will be conducted in English, students selected for exchange must satisfy- the minimum language requirements normally required by the host institution for exchange students; 3. The students shall be selected on the basis of an excellent academic background, excellent command of the subject-specific language required for  their integration to the chosen curriculum; strongmotivationtostudyforthe academic program offered by the host institution; and the maturity to live and study in a foreign environment. 4. Students will be nominated and recommended in writing by an official representativeoftheirhomeschool/institution. Followingthereceiptofthe applicationmaterial,thehostschool/institutionwillprovidethenecessary assistance and documentation to satisfy visa requirements and other formalities, such as health insurance; 5. The parties will assist exchange students to find suitable accommodation and insurance. Accommodation and mess facilities will be provided at IMT; 6. The selected exchange students of DU and IMT shall pay their current tuition feestotheirrespectivehomeschool I institution i. e. DU or IMT, prior . to participation in the program, at the dates normally specified by their respective home school I institution for the payment of such fees; 7. The parties will agree in advance the credits that exchange students will be required to take. Non-award course work may not be used at a later time to fulfill requirements for a degree program, and students may not change academic  objectives; 8. All expenses including air fare, local travel, health insurance, accommodation, food etc. will be borne by the student. Faculty Exchange, Research and ConferencesÃ'Ž 1. The parties shall exchange an agreed number of faculty members and specialists basedontheavailabilityofopeningsandthenumberofqualifiedfaculty members interested in participating in the program; 2. Exchange faculty will remain employees of their home institution for the purposes of terms and conditions of employment; 3. The home institution shall cover international travel expenses while the host  institution shall, on the basis of reciprocity, cover local transportation, accommodation and hospitality for exchange of faculty. Otherdetails,including the financial arrangements, will be agreed on a case to case basis; 4. No later than ninety (90) days before the start of each academic year both partieswillpresentalistofnominatedfacultymembersalongwiththeir credentials to each other for participation in the program for the upcoming academic year- 2011-12 5. The parties agree to organize joint international conference/seminars, symposia andworkshops; commission joint research projects and exchangeof publications. Governance and leadership The Director of IMT-Nagpur, Dr. Rajendra Nargundkar and the Professor-Faculty of Economics- Dr. Waridin of Diponegoro University, Indonesia or their designees will provide the senior leadership within their respective organizations to move the venture forward. Exchange of information Each party will exchange information with the other with a view to understanding whether it would be effective and practical for the institutions to work together. Confidentiality ThisMemorandumandanyinformationprovidedinconnectionwithitmaynotbe disclosedtoanythirdpartyotherthan(a)theparties’professionaladvisers;(b)as required by law or a relevant regulatory authority; (c) with the prior written consent of the other party; or (d) where the information has come into the public domain through no fault of the party wishing to disclose it. Intellectual Property Unlessagreedotherwiseinwriting,anyIntellectualPropertyrightsbelongingtothe parties,whetherinexistenceatthedateofthisMemorandumorcreatedduringthe course of it, shall belong to the respective parties. Publicity 1. The parties will not include the name or logo of the other party in any advertising or publicity material without the prior approval of the other party on a case-to- case basis. 2. Neither party will do anything which in the reasonable opinion of the other, would damage the other’s reputation and/or business. Disputes 1. The parties shall attempt to resolve in good faith any dispute arising between them out of the operation of this Memorandum. If the dispute cannot be resolved informally, it shall be referred to the Head of the Business School of DU and the Director of IMT- Nagpur Dr. Rajendra Nargundkar. 2. This Memorandum shall be governed by and construed in accordance with the laws in India/Indonesia. 3. Any dispute arising out of the operation of this Memorandum shall be finally  settled by arbitration under the Rules of Arbitration and Conciliation of the International Chamber ofCommerce by two ormore arbitratorsappointed under those rules. The place of arbitration shall be New Delhi and the dispute resolution proceedings shall be in English. This MOU is signed by the parties on this 17th day of September 2010 at Nagpur (India) and the parties have affixed their Seals. ForINSTITUTEOF MANAGEMENT TECHNOLOGY- NAGPUR. (Dr. Rajendra Nargundkar) Director. SEAL For DIPONEGORO UNIVERSITY, SEMARANG-50241, INDONESIA. (Dr. Waridin) Professor- Faculty of Economics.