Processing Contract
Exhibit
10.24
English
Translation of Chinese Version
Processing
Contract
Party
A:
Swire Guangdong Coca-Cola Ltd.
Adress:
Xx. 000 Xxxxxxx Xxxx Xxxx, Xxxxxxxxx Xxxx Xxxxxxxxx, Xxxxx
Party
B:
Guangdong Taoda Drink Co. Ltd.
Address:
Xx. 0 Xxxxx Xxxx Xxxxxx Xxxxxxx Xxxxx Xxxxxx Xxxxxxxxx Xxxx, Xxxxx
Part
A
and Part B have entered into this contract with the agreement of details as
follows.
| 1. |
Products
to be produced by Party B at the request of Party A (the
“Products”)
|
| a. |
Products
and specification
|
|
Item
Description
|
Specification
|
Requirement
|
|
“Sensation”
bottled water
|
550ml,
1500m. in PET bottle
|
GB17323
drinking water standard
|
| b. |
Quantity
- Party A will provide purchase order at the last work day of a week.
Party B will provide delivery schedule a week prior to delivery.
|
| 2. |
Supply
of Material and Requirement of Quality
|
| a. |
Party
B will produce PET bottles by using the module designated by Party
A.
Party B shall purchase the raw material from the suppliers who shall
be
designated Party A. The produced bottle shall be inspected by Party
A.
Party A will only examine the configuration design of bottle and
the odor
and will not be liable for any deficiency of quality produced by
Party B.
|
| b. |
The
related material for producing accessories (such as cap, label, box,
and
etc) of bottle shall be designated by Party A . Party B shall obtain
the
approval before purchasing cap and label.
|
| c. |
The
products processed by Party B shall meet the standard of GB17323-1998
and
the industry standard required by Party A. Please see attachment
for the
details of requirement.
|
| 3. |
Purchase
Price
|
(Omitted
and Filed Separately with the SEC)
| a. |
Payments:
Party B shall provide invoice with the quantity of the products accepted
by Party A on 15th
day and 30th
day of each month. Party A will make all the payments due within
a week.
|
| 4. |
Term
of Contact
|
| a. |
The
valid term of this contact will be from January 1, 2008 to December
31,
2008. Contact can be extended with mutual agreement.
|
English
Translation of Chinese Version
| 5. |
Trademark/
Intellectual Property
|
| a. |
Party
A and Coca (China) Co., Ltd will co-own the trademark and its
configuration design of the Product. Party B shall be liable for
any
violation of property rights arising from its performance of this
contract. Party A shall be legible to terminate this contract when
such
violation occurs.
|
| b. |
The
contact does not authorize Party B to sell the Products. Party B
will be
liable for any use of any related products without Party A’s approval and
Party A shall terminate this contract for such violation.
|
| c. |
Party
B is responsible to maintain all the related products and materials
related to the Products. Party B will be liable for any unauthorized
usage
of all materials and Products by third parties.
|
| 6. |
Miscellaneous
|
| a. |
Party
A shall send supporting staffs at Party B’s site. Party B will be
responsible for board and accommodation for the supporting staffs.
|
| b. |
Party
B shall provide proper warehouse for maintain all the materials and
the
Products. The capacity of the warehouse shall be able to place materials
for two-month demand and made products for one-month
demand.
|
| c. |
Upon
early termination of the contract, Party B shall promptly return
to Party
A all the raw materials and unfinished products without delay.
|
| 7. |
Event
of Default:
|
| a. |
(Omitted
and Filed Separately with the
SEC)
|
| b. |
If
the Product failed to satisfy the standard as set forth in the agreement,
Party B shall be responsible to recall all the deficient product
at its
own cost.
|
| c. |
(Omitted
and Filed Separately with the
SEC)
|
| 8. |
Any
dispute arising from this contract shall be determined by courts
with the
jurisdiction where Party A is domiciled.
|
| 9. |
This
contract may be executed in counterparts, each of which shall be
deemed an
original, but all of which together will constitute one and the same
instrument.
|
Party
A:
Swire Guangdong Coca-Cola Ltd.
Stamp
and Seal
Party
B:
Guangdong Taoda Drink Co. Ltd.
Stamp
and Seal
2
