Memorandum of Understanding
This Memorandum of Understanding (hereinafter referred to as MOU) is made and entered into this 3rd day of August, 2015 by and between GE Power and Water Water & Process Technologies Co. Ltd. , a company limited by shares duly organized and existing under the law of Kingdom of Thailand, whose principal office is at 5th Floor, Bangna Tower A, 2/3 Moo 14, Bangna-Trad K.M. 6.5,Bangkaew,Bangplee,Samutprakarn, 10540 Thailand. (hereinafter referred to as AAAAAA and Union Petrochemical Plc. a company limited by shares duly organized and existing under the law of Kingdom of Thailand, whose principal office is at Union House Building, 728 Boromratchonnani Road, Bangbumru, Bangphlad, Bangkok 10700, Thailand (hereinafter referred to as UPC).WHEREAS GE Power and Water Water & Process Technologies is in the business of provide water treatment,wastewater treatment and process system solutions. and is committed to procure Solvesso 150 Fluid for their usage in manufacturing process; UPC is in the business of chemicals distribution and is willing to supply Solvesso 150 Fluid to GE Power and Water Water & Process Technologies.NOW THEREFORE the parties hereby record the mutual understanding as follows:-
1. Supply and procurement
1.1 So as to allow GE Power and Water Water & Process Technologies. a sufficient period of time to plan its logistics of Solveeso 150 Fluid for their own usage during October 1 , 2015 – March 31, 2016.
1.2 GE Power and Water Water & Process Technologies is willing to purchase is willing to purchase Solvesso 150 Fluid from UPC on a regular basis at the maximum quantity of 11 metric tons per each month of the of year 2015, cargo size of each shipment shall be such as agreed by the parties.
1.3 GE Power and Water Water & Process Technologies is willing to place an order for the first shipment of Solvesso 150 Fluid start from October 1, 2015 until March 31, 2016.
1.4 At the conclusion of the MOU, the parties hereto shall in good faith mutually agree on the terms and conditions with respect to Solvesso 150 Fluid quality in the attachment 1.
2. Confidentiality
GE Power and Water Water & Process Technologies and UPC agree that neither party shall disclose the existence of this MOU or contents thereof to any other persons or third parties.
3. Price condition
Price of Solvesso 150 Fluid = 33 B/kg start from October 1, 2015 until March 31, 2016.
Minimum order's 30 drum per each delivery
Included recycled drum cost
Included transportation at GE plant
VAT excluded
4. Term
This MOU shall be effective and executed from October 1, 2015 to March 31, 2016 and shall be null and void if the parties hereto fail to agree and execute according to this MOU.
5. Termination
Either party may give thirty (30) days written notice to the other party to terminate this Agreement at any time.
6. Governing Law
The construction, validity and performance of this MOU shall be governed by the laws of Kingdom of Thailand
IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to execute this Memorandum of Understanding on the date first written herein above.
For and on behalf of For and on behalf of
GE Power and Water Union Petrochemical Plc.
Water & Process Technologies Co. Ltd.
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Mrs. Pakamas Tatiyamorn Miss.Piyada Suwannapasri
CMS Sourcing Leader - ANZ, ASEAN, Korea and Japan Assistant Managing Director