Attached files
Exhibit 10.2
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EQUIPMENT PURCHASE ORDER
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| P.O. No.: ___________ |
Date: May 10, 2012
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Customer:Montenegro Connect, d.o.o and VelaTel Global Communications, Inc.
Address (VelaTel): 12526 High Bluff Drive, Suite 155, San Diego, CA 92130
Contact Person (VelaTel): Mario Alvarez
Address (Montenegro Connect): DzordzaVaslingtona 65, Podgorica, Montenegro
Contact Person (Montenegro Connect): Sasa Rakocevic
Bank Item: [ ] (Accounting Bank name, A/C number)
Supplier: ZTE CORPORATION
Address: ZTE Plaza, Keji Road South, Hi-Tech Industrial Park, Nanshan District, Shenzhen, P.R.China
Bank Item: BANK OF CHINA SHENZHEN BRANCH
US Dollar Account: 810100277908092014
Contact Person: Gao Ping
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1.
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Contract Amount & Price
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Item Description
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Total Price – USD
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Equipment (One Year Warranty Included)
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$ 820,304.28
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Value Added Tax (referred to in Montenegro as “PDV”)
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Paid by Customer
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Delivery and Other Expenses
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Paid by Customer
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Total Contract Price
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$ 820,304.28
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2.
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Bill of this PO shall be detailed in Attachment 1: Bill of Quotation.
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3.
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Trade Term: FCA.
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4.
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Delivery Port: Hong Kong, China.
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5.
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Delivery Date: Within ___ days after execution of this PO.
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6.
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Payment Terms:
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a.
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Down Payment: $175,732.53, of which $117,155.02 has been previously paid, $35,146.51 is due within 15 days of this PO, and $23,431.00 is duewithin 15 days of goods available for Customer’s inspection at Delivery Port.
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b.
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Vendor Financing: Per the following credit facility:
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Facility amount:
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$644,571.75 (Total Contract Price less Down Payment)
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Currency:
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United States Dollars.
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Tenor:
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2.5 years (Including Grace Period).
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| PROPRIETARY AND CONFIDENTIAL | Page 1 of 2 |
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Grace period:
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1 year commencing from first Bill of Lading date under this PO.
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Interest Rate
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6 months Libor plus 2.5% per annum.
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Principal Repayment:
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Three semi-annually equal installments, with first one beginning on the 180th day from end of Grace Period.
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Interest Payment:
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Together with each principal repayment.
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Security:
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1. Unconditional and irrevocable Corporate Guarantee by VelaTel Global Communications, Inc. for 100% of the financed amount.
2. Mortgage of 100% of System Equipment that are supplied by ZTE.
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Assignment:
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Supplier has right to assign all the account receivables to a third party with a written notice to Customer. Customer shall accommodate necessary assistance to complete such assignment, including but not limited to acknowledging and signing any receivable assignment notice.
A detailed financing agreement shall be entered into between Customer and Supplier for the financing arrangement.
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7.
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The implementation schedule shall be detailed in a separate Service Contract.
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8.
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The Supplier shall provide the one year warranty to the Customer for the equipment supplied under this PO.
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9.
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Other clauses refer to the Equipment Contract signed by and between Customer and Supplier on May __, 2012 (Contract No. DTZT2012050802WMXTH403).
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VELATEL GLOBAL COMMUNICATIONS, INC.
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ZTE CORPORATION
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| By | /s/ Colin Tay | By | /s/ Gong Yue Zhong | |
| Name: | Colin Tay |
Name:
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Gong Yue Zhong | |
| Title: | President | Title: | Executive Vice President | |
| Date: | May __, 2012 | Date: | May __, 2012 | |
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MONTENEGRO CONNECT, d.o.o
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| By | /s/ Sasa Rakocevic | |||
| Name: | Sasa Rakocevic | |||
| Title: | Deputy Chief Executive Officer | |||
| Date: | May __, 2012 | |||
Attachment 1: Bill of Quotation
| PROPRIETARY AND CONFIDENTIAL | Page 2 of 2 |