Equipment Purchase Agreement
Exhibit
10.8
Purchaser Jinzhou
Halla Electrical Equipment Co., Ltd.
Seller Suzhou
Tenuo Automation Co., Ltd.
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1
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Name:
PMC automobile starter assembly line
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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
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3
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Effectiveness
of contract
|
This
contract shall be effective from the signing date
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4
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Delivery
date
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The
contracted equipment shall be delivered to Purchaser’s factory before 31 May,
2006.
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5
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Delivery
means/place
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Factory
of the Purchaser
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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
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Payment
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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.
1
|
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.
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11
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Dispute
Solution
|
|
12
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Attachment
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The
Technical Agreement is a part of this contract.
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13
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Miscellaneous
|
Jinzhou
Halla Electrical Equipment Co., Ltd.
Seal
Suzhou
Tenuo Automation Co., Ltd.
Seal
Signature
Date: 1 January, 2006
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