Summary of Oral Contracts Between Powin and Major Suppliers and Customers
Powin has several oral agreements with major suppliers and customers, including companies such as ProSteel and Supply, Campchef, Skywalker, and others. These oral contracts cover topics like agreeing on fair prices for each project, maintaining reasonable quality control, and making best efforts to resolve disputes. There are no fixed terms or timeframes for these agreements, and all terms are discussed and agreed upon as needed for each project.
EXHIBIT 10.13 ORAL CONTRACTS SUMMARY
Powin has several oral contracts with major suppliers and customers including:
ProSteel and Supply,
Campchef,
Skywalker,
Icon Health and Fitness,
Standers,
Vocalno,
Longkou Yian,
Xuyang Stove,
Chengtou Industrial
Puwei Metal furniture
Qingdao Triple Master
As is customary in the industry, these contracts are entirely oral. A summary of topics addressed in these oral contracts include:
1.
That the fair price will be agreed upon by the parties on a project-by-project basis;
2.
That there will be reasonable quality control efforts by both parties; and
3.
That the parties will make their best efforts to resolve any disputes.
There are no established terms or timeframes associated with these oral contracts.
