having its registered place of business locate at (..........) hereinafter referred to as the “Supplier”
of the other part
WITNESSETH:
WHEREAS, the Company has established an electronic business-to-business procurement exchange system as a marketplace primarily for and among the qualified participants to be able to purchase and sell goods and services through such electronic procurement exchange system (hereinafter referred to as the “Online Purchasing System”);
WHEREAS, the Company agrees to provide (a) a real-time trading exchange for products and services supplied by Supplier through an online computer system; and (b) related services to the Online Purchasing System as per details set forth in Clause 1 of Exhibit B (hereinafter collectively referred to as the “Service”) to Supplier, in exchange of the fees as described in Exhibit A; and
WHEREAS, the Company, as an owner and service provider of the Service shall provide the Service to Supplier under the terms and conditions of this Agreement and any operating rules, policies, and procedures that may be notified from time to time by the Company.
NOW, THEREFORE, the parties hereby agree as follows:
The billing period for calculation of the Fees under this Agreement shall commence from [………..] through [………..] of the next calendar month.
Supplier shall make payment of the Fees within 30 (thirty) days from the date of the relevant invoice.
In the event Supplier fails to make payment of the Fees in a timely manner:
The Company has the right to charge a late payment fee at the rate of 1.5% (one-point-five percent) per month on the outstanding amount, calculated from the day following the date upon which payment should have been made until the date upon which payment is made in full by Supplier; and.
** The foregoing fees shall be excusive of Value Added Tax (VAT), which said VAT shall be payable in accordance with the laws of Thailand.