Cooperation Agreement
Exhibit
4.16
Party A:
Ossen (Jiujiang) Steel Wire & Cable Co., Ltd.
Party B:
Shanghai Machinery Manufacturing Technology Research Institute
Party C:
Organization Department of Jiujiang Committee of CPC and Jiujiang Bureau of
Science and Technology
For the
purpose of its development, Party A is in urgent need of technology for “high
performance indented prestressed steel wires and galvanized steel wires” to
realize industrialization as soon as possible. In order to implement the program
for uniting technology and talents and project of Jiujiang City, the
Organization Department of Jiujiang Committee of CPC and the Jiujiang Bureau of
Science and Technology promptly contacts Shanghai Machinery Manufacturing
Technology Research Institute. With the Institute’s vigorous support and
assistance, the Organization Department of Jiujiang Committee of CPC and the
Jiujiang Bureau of Science and Technology contributes a lot to the cooperation
between Party A and Party B in R&D project. The parties hereby reach the
following agreement through consultation for mutual covenants.
Article
1 Legal Basis for Signing the Agreement
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1.
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The
Contract Law of the People’s Republic of
China;
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2.
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State
and local regulations and rules on the administration of
designs.
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Article
2 Basis for Design
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1.
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Technical
conditions for product design submitted by Party A to Party
B;
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2.
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State
and local specifications and regulations for design of high performance
prestressed steel wires and galvanized steel
wires.
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Article
3 Liabilities of the Parties
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1.
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Party
A’s liabilities
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(1)
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Party
A shall provide Party B with technical conditions for designing and be
liable for the completeness and correctness
thereof;
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(2)
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Party
A shall make payment to Party B as design fee in accordance
herewith;
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2.
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Party
B’s liabilities
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(1)
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Party
B shall design in accordance with technical conditions for designing and
relevant regulations of the state, and deliver design documents (including
electronic technical documents) in accordance with the time specified
herein. Design documents include but not limited to all set of design
drawings, operation and user’s manual, list of materials and equipment,
and list of losses. Party B shall also be liable for the quality of design
documents submitted.
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(2)
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Party
B shall make revision or supplement to any error or omission in the design
documents;
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(3)
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Where
Party A raises opinions on revision to the design documents submitted by
Party B, the parties shall negotiate the same carefully and Party B shall
be liable for making revision free of
charge;
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(4)
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Party
B shall be responsible for technical disclosure before manufacturing,
design, final assembly and commissioning, provide follow-up technical
service as needed for Party A’s project. Expenses for meals, accommodation
and traffic of Party B’s personnel during technical disclosure and
technical service shall be borne by Party
A.
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3.
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Party
C’s liabilities
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(1)
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In
facilitating the cooperation between Party A and Party B, Party C shall
offer relevant services and supervise the performance of the
Agreement.
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(2)
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Party
C agrees to give preferential policies and support in terms of initiation
and other aspects of the “high performance prestressed steel wires and
galvanized steel wires” program.
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Article 4 Fee
Through
consultation between the parties, the total contract price is CNY one hundred
thousand, subject to no adjustment in future.
Article
5 Payment Terms
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1.
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Party
A shall pay Party B CNY ten thousand upon the effectiveness of the
Agreement;
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2.
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Party
A shall pay Party B CNY thirty thousand upon Party B’s submission of the
preliminary design documents;
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3.
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Party
A shall pay Party B CNY forty thousand upon Party B’s submission of the
construction drawings;
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4.
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Party
A shall pay the balance to Party B within one month after Party A
completes installation, commissioning and
test;
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5.
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Party
B shall issue official invoices.
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Article
6 Effectiveness and miscellaneous
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1.
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Party
B shall provide service for the project hereunder till the completion of
installation and test;
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2.
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Technical
conditions for designing form an integral party hereof and have the same
legal effect with the Agreement;
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3.
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Any
issue uncovered hereunder shall be solved through consultation among the
parties.
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Party A:
Ossen (Jiujiang) Steel Wire & Cable Co., Ltd.
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Representative:
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January
2008
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Party B:
Shanghai Machinery Manufacturing Technology Institute
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Representative:
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January
2008
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Party
C: Organization Department of Jiujiang Committee of
CPC
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Jiujiang
Bureau of Science and Technology
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