LETTER OF INTENT
This Letter of Intent (“LOI”) is entered into by and between the following parties in Rome, Italy on June the 10th, 2013: This letter agreement sets forth our agreement and understanding as to the essential terms of the sale to JPL Textile Italian SA (the "Purchaser") by Global Industrial Equipment (the "Seller") in Rome, Italy and engaged in selling to JPLTextile Italian SA the following industrial equipment as per the specification and in the quantity and for the price as specified in the terms and conditions as stated below. This representation is made with full corporate authority and responsibility of the above. The parties intend this letter agreement to be non binding and unenforceable until which time the terms are agreed upon. Subsequently, The Binding Letter of Intent to Purchase will inure to the benefit of the parties and their respective successors and assigns. EQUIPMENT: CO2 Laser Cutting Machine for Cloth, Textile, Cotton Fabric (CJG-2000) ORIGIN: ITALY
SPECIFICATIONS: SIZE: 2500mmX3000mm
PACKING: STANDARD WOODEN CASE
QUANTITY: 7 MACHINES
SHIPMENTS: 1 SET
DESTINATION PORT: ANTWERP, BELGIUM.
TARGET PRICE: USD$ 15.000 per machine FOB PRICE.
INSPECTION: QUALITY, QUANTITY, WEIGHT, & PHOTO BY JPL TEXTILE BELGIUM SA, AT ANTWERP PORT. NOW, THEREFORE, after friendly consultation, the Parties agree to record their intent as follows: 1. Intended Purchase and Sale of the Equipment: JPL TEXTILE Italian SA intends to purchase from Global Industrial Equipment the equipment listed above in this LOI, with the requirements and specifications as well. This Letter of Intent will run in the period of 2 months, since the assignment of this letter.
2. Price and Payment Terms: The purchase price will be 126.000 Euros for the set of 7 Laser Cutting Machines for Cloth, Textile and Cotton Fabric. The payment terms shall be by automatic revolving documentary Letter of Credit. The letter of credit must be irrevocable,...
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