Equipment Purchase Agreement between Jinzhou Halla Electrical Equipment Co., Ltd. and Suzhou Tenuo Automation Co., Ltd.
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Summary
Jinzhou Halla Electrical Equipment Co., Ltd. agrees to purchase two assembly lines from Suzhou Tenuo Automation Co., Ltd. for a total price of RMB 3,268,000. The equipment must meet specified technical standards and be delivered to the purchaser's factory by May 31, 2006. Payment is made in three installments, with the final payment due after one year of satisfactory use. The seller provides a one-year warranty, and both parties agree to keep certain information confidential. Late delivery incurs a daily penalty. The contract is effective upon signing.
EX-10.8 11 v045925_ex10-8.htm
Exhibit 10.8
Equipment Purchase Agreement
Purchaser Jinzhou Halla Electrical Equipment Co., Ltd.
Seller Suzhou Tenuo Automation Co., Ltd.
| 1 | Name: PMC automobile starter assembly line |
Specification: it is set forth in the equipment catalogue
Price: RMB1,603,000.00
Name: commercial vehicle starter assembly line
Specification: see equipment catalogue
Price: RMB1,665,000.00
Total amount: RMB3,268,000.00
| 2 | Technical standard and acceptance standard |
Technical standard: in accordance with the relevant Technical Agreement
Acceptance standard: in accordance with the Technical Agreement at the Purchaser’s site
| 3 | Effectiveness of contract |
This contract shall be effective from the signing date
| 4 | Delivery date |
The contracted equipment shall be delivered to Purchaser’s factory before 31 May, 2006.
| 5 | Delivery means/place |
Factory of the Purchaser
| 6 | Technical information |
Along with delivery of the contracted equipment, all relevant operation manuals, maintenance instructions, drawings, electrical and pneumatic diagrams and their electronic files shall be delivered to the Purchaser
| 7 | Warranty |
The warranty period shall be one year commencing from the date of acceptance.
| 8 | Payment |
50% of the contract value (RMB1,634,000.00) shall be paid fifteen (15) days after signing of this contract, 45% of the contract value (RMB1,470,600.00) shall be paid fifteen (15) days after acceptance, while the remaining 5% (RMB163,400.00) shall be paid fifteen (15) days after one year the product is in use and remain in ordinary working conditions.
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| 9 | Confidentiality |
The Purchaser shall keep confidential information regarding samples and design provided by the Seller.
| 10 | Breaches of the Contract |
Delivery shall be made in accordance with this contract. Any delay in delivery may result in a late fee in an amount of 0.2% of the sale price for each day after the stipulated delivery date set forth in this contract.
| 11 | Dispute Solution |
| 12 | Attachment |
The Technical Agreement is a part of this contract.
| 13 | Miscellaneous |
Jinzhou Halla Electrical Equipment Co., Ltd.
Seal
Suzhou Tenuo Automation Co., Ltd.
Seal
Signature Date: 1 January, 2006
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