AnnualSupply Agreement

EX-10.7 6 v204332_ex10-7.htm
 
Annual Supply Agreement
 
Party A  Shenzhen ORB-FT new material Co.,Ltd

Party B Dongguan Pusaida Seal Adhesive Co., Ltd

1 General Provision

1.1 In order to be mutually beneficial, to improve product quality, and to determine the rights, obligations and methods of dealing with conflict, Shenzhen ORB-FT new material Co.,Ltd (“Party A”) and Dongguan Pusaida Seal Adhesive Co., Ltd (“Party B”) made the following Agreement;

1.2 Where two parties are involved with transaction of goods, they shall strictly follow this Agreement based on mutual cooperation and coordination, and reputation;

2 Scope of agreement: Basic issues concerning Party A purchasing goods from Party B.
 
3 Price:
 
The price of goods Party B provides to Party A includes 17% value-added tax, which is also the price when goods arrive Party A,  the price is as follows:

 
 

Number
  
Product
  
Unit
  
Unite
Price
    
Quantity
    
Amount
  
Notes
  
                               
1
  
Sealant 310 ML
  
Pack
     11.88       165000       1,960,200.00      
                                     
2
  
Sealant 600 ML
  
Pack
     21.06       60000       1,263,600.00      
                                     
3
  
Sealant 400 ML
  
Pack
     14.04       30000       421,200.00      
                                     
4
  
Sealant
  
Kilogram
     22.14       162000       3,586,680.00      
 
4 Ordering Method
 
4.1 Party A shall fax the order to Party B 15 days in advance; the order shall include product name, number (Model number), quantity, delivery date,  delivery location and etc. The order shall be signed by the representative designated by Party A, and return to Party B by fax;

4.2 Upon Party B receiving the order from Party A, Party B shall return the order within the same day by fax with the order signed and sealed by the designated person;

4.3 Order is an effective portion of supply agreement, and has the same legal effect as this Agreement.

5 Delivery

5.1 Party B shall deliver goods to Party A promptly based on quantity, delivery date, and delivery location provided by the order, together with quality inspection reports, invoices and invoice list enclosed;

5.2 For additional orders, Party A shall submit new orders reflecting the increased quantity.

 
 

6 Packaging and transport

6.1 Packaging standard is identified by Party A, and Party B shall assure that goods have no damage and the accurate quantity delivered to the designated location by Party A. Internal and external packaging of goods shall be assumed by Party A;

6.2 Party A determines transport  method, and goods will be delivered to Party B’s location.  Party A shall bear the transport cost; Party A may also pick up the goods by itself.

7 Payment settlement

In principal, Party A shall make the payment upon Party A ‘s acceptance of goods, together with receipt of Value-Added Tax invoices.

8 Term of Agreement

This agreement will remain valid from March 6, 2007 till March 5, 2008.

9 Others

9.1 There shall be two copies of this Agreement, and each party holds a copy; fax copy has the same legal effective;

9.2 Other matters shall be resolved through friendly negotiations.

Shenzhen ORB-FT new material Co.,Ltd

Representative:

Date: March 6, 2007

Dongguan Pusaida Seal Adhesive Co., Ltd

Representative:

Date: March 6, 2007

 
 
 
Memoradum of Price Reduction of Dongguan Pusaida Seal Adhesive Co., Ltd
 
Main Product
Serial
number
  
Product
Nature
(Name)
  
Size
  
Original
Price
(Include
tax) (RMB)
    
Current
Price
(Include
tax) (RMB)
    
% of
Change
  
1
  
D/E Vat
  
240 kg/vat
     5313.6       5059.8       -5 %
                                 
2
  
B/D Flexible Packaging
  
600 ml/unit
     21.06       20.45       -3 %
                                 
3
  
B/D Flexible Packaging
  
400 ml/unit
     14.06       13.63       -3 %
                                 
4
  
B/D Aluminum Tube
  
310 ml/tube
     11.76       11.41       -3 %
                                 
5
  
Type B special hard Aluminum Tube
  
310 ml/tube
     11.76       11.41       -3 %
                                 
6
  
White Glue Aluminum Tube
  
310 ml/tube
     15       14.28       -5 %

Note:
1.
New price is performed from October 1, 2007
2.
The price above includes 17% value-added tax.
3.
Payment: 55% acceptance per month, 45% pay by cash, payments are settled before the following Wednesday.
4.
The price is terminated as the agreement terminated

Shenzhen ORB-FT new material Co.,Ltd

Date: September 25, 2007

Dongguan Pusaida Seal Adhesive Co., Ltd

Date: September 25, 2007

 
 
 
Memoradum of Price Reduction of Dongguan Pusaida Seal Adhesive Co., Ltd
 
Main Product
Serial
number
  
Product
Nature
(Name)
  
Size
  
Original
Price
(Include
tax) (RMB)
    
Current
Price
(Include
tax) (RMB)
    
% of
Change
  
1
  
D/E Vat
  
240 kg/vat
     5059.8       4902.41       -3 %
                                 
2
  
B/D Flexible Packaging
  
600 ml/unit
     20.45       19.22       -6 %
                                 
3
  
B/D Flexible Packaging
  
400 ml/unit
     13.63       12.81       -6 %
                                 
4
  
B/D Aluminum Tube
  
310 ml/tube
     11.41       10.84       -5 %
                                 
5
  
Type B special hard Aluminum Tube
  
310 ml/tube
     11.41       11.41       0 %
                                 
6
  
White Glue Aluminum Tube
  
310 ml/tube
     14.28       12.85       -10 %

Note:
5.
New price is performed from March 23, 2009
6.
The price above includes 17% value-added tax.
7.
Payment: 55% acceptance per month, 45% pay by cash, payments are settled before the following Wednesday.
8.
The price is terminated as the agreement terminated

Shenzhen ORB-FT new material Co.,Ltd

Date: March 20, 2009

Dongguan Pusaida Seal Adhesive Co., Ltd

Date: March 20, 2009