Agreement is made between SANKYO KANEHIRO (THAILAND) CO.,LTD. (hereinafter “Seller “) and P QUALITY MACHINE PARTS CO.,LTD. (hereinafter “ Buyer”) for production tooling (hereinafter “ Tooling”) paid for by Buyer including molds,dies,jigs, and any devices that are used in manufacture of Buyer’s products specified in Appendiz1
1. Tooling shall be the property of Buyer. Any drawing and /or technology provided by Buyer to design
And fabricate shall be Tooling shall be a part of tooling.
2. Buyer has the right to remove Tooling from Seller’s promises. Seller will remove tooling to Buyer by incomplete tooling only.
3. Modification and/or Sub-contracting of Tooling without Buyer’s prior approval in writing shall be prohibited.
4. Seller shall not use Tooling except in manufacturing Buyer’s products
5. Seller shall store Tooling in a manner to prevent deterioration.
6. Preventive maintenance for Tooling shall be performed by Seller at no charge to Buyer.
7. Seller shall accept the periodic inspection of Tooling performed by applicable Buyer’s personnel.
8. In the event that repair and/or renewal of Tooling is required regard to and failure/damage caused from Seller handling, Seller shall be responsible for the repair and/or renewal at no charge to Buyer.
9. Upon Buyer’s request, Seller shall present Buyer insurance documents to assure the coverage of investment for Tooling.
10. Upon Buyer’s request, Seller shall present Buyer’s inventory Status Report for all Buyer’s Tooling.
This Agreement shall be effective on the date lastly signed below and shall remain in force for a period of fifteen (15) years from the effective date.
This Agreement shall be automatically extended for additional successive fifteen years periods unless either
Party gives written notice of termination to the other party no less than two (2) months periods to the expiation.