Here's some great news for the people of Andhra Pradesh! The State has recently entered into a Memorandum of Understanding (MoU) with 'International Enterprise Singapore' to build a world class capital for AP.
Now as per the terms of the agreement, should Singapore fail to execute the deal, then the AP government cannot sue the former.
If there arises any disputes in the execution of the deal then they will not be referred to a third party but settled between AP and Singapore on the basis of negotiations in an amicable manner.
In other words, the agreement is not legally binding on either party. Either party can terminate the agreement by just notifying the other party of its decision.
Also, all the designs, master plans and blueprints prepared by the Singapore team will be given full protection under the intellectual property rights.
Further, the agreement will be treated as a ‘private’ and ‘commercial act’ and not as one between two governments.
The reason for this is that if the agreement is treated as one between two governments then all documents would have to be placed under public scrutiny.
Thank you Mr. Chandrababu Naidu, for such a wonderful deal!
