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Document Preview Joint Production Agreement |
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Title: |
Joint Production Agreement |
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Entities: |
PT Horiko Abadi; Atlas Pacific Limited / PT Cendana Indopearls; Atlas Pacific Ltd |
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Date: |
2003 |
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Size: |
Preview shows 3KB of 9KB total |
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Price: |
$39 |
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ID: |
#144983 |
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Joint Production Agreement
The principal of this agreement is that each party will be rewarded proportionally for their investment into the production of juvenile pearl oysters at the Banyupoh Bali hatchery. The parties referred to are PT Horiko Abadi, the owners of the hatchery and water leases at Banyupoh and Atlas Pacific Limited / PT Cendana Indopearls (ATP/PT CIP). PT Horiko Abadi and ATP/PT CIP agree to the following:
| 1. | ATP/PT CIP will pay PT Horiko Abadi the amount of AUD$30,000 per year to lease facilities (hatchery, accommodation, storeroom, tanks and equipment) land and water. In return for this, PT Horiko Abadi guarantees ATP/PT CIP exclusive access to the Banyupoh site. |
| 2. | PT Horiko Abadi has full responsibility for tax payments in relation to the Banyupoh project, community and government relations and site security. |
| 3. | PT Horiko Abadi and ATP/PT CIP divide the cost of juvenile pearl oyster production (as generally described in the attached costing proposal) seventy percent (70%) ATP/PT CIP and thirty percent (30%) PT Horiko Abadi. To facilitate the transfer of funds, a new bank account will be opened in Bali into which each month ATP/PT CIP will transfer seventy million Indonesian Rupiah (IRP 70,000,000) and PT Horiko Abadi will transfer thirty million Indonesia Rupiah (IRP 30,000,000). |
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