Contractfor Electronic System Development
EX-10.24 8 ex10-24.htm
Contract for Electronic System Development
Project: Development of CBM System for HIEMS-DF Engine
Price: 234,000,000 WON
Period: March 1st 2017 ~ January 31st 2019 (23 Months)
Payment Terms
| Deposit | When Contracted | ₩ | 66,000,000 | 28 | % | |||||
| First Middle Payment | 2017 September | ₩ | 75,000,000 | 32 | % | |||||
| 2nd Middle Payment | 2018 April | ₩ | 69,750,000 | 30 | % | |||||
| Rest | 2019 January | ₩ | 23,250,000 | 10 | % |
Installation Location: Hyundai Heavy Industries
Hyundai Heavy Industries Co., Ltd. (“The Customer”) and e-MARINE Inc. (“The Provider”) agree to execute all matters written in the Contract and each party keeps a signed copy.
March 29th 2017
The Customer
Hyundai Heavy Industries Co., Ltd.
1000, Bangeojinsunhwando-ro, Dong-gu, Ulsan, Republic of Korea
The Provider
e-MARINE Inc.
15-14, Samsan-ro 308beon-gil, Nam-gu, Ulsan, Republic of Korea
