In consideration of our long and good business relationship which the Company considers to be of utmost importance, the Company is of the view that the Company and MNS should be able to settle The Company’s Claim and MNS’s Claim and any disagreement with respect thereto without having to resort any kind of legal proceedings or dispute resolution mechanism. Hence, the Company hereby cordially propose that The Company’s Claim and MNS’s Claim be netted against each other in their entirety, by which, the Company’s right to make the claim in relation to The Company’s Claim against MNS shall be entirely relinquished and correspondingly, MNS’s right to make the claim in relation to MNS’s Claim against the Company shall be entirely relinquished.
Please be reassured that the above proposed settlement mechanism shall not, in any way, affect, alter or invalidate any other rights or obligations the Company and MNS have under the Agreement, namely, the warranty.
Your kind consideration to the above proposal would be highly appreciated and we would be opened for any discussion or suggestion you may have in order to resolve this matter in due time.
By signing (and affix the company seal, if any) in the space provided below, you agree to our proposal above and shall render, as from the date of signatory, the netting between The Company’s Claim and MNS’s Claim to be effective.