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Exhibit 10.7
PROCUREMENT COOPERATION
FRAME AGREEMENT
Consignor:
Changshu Huaye Steel Strip Co., Ltd. (“Party
A”)
Consignee:
Shanghai Huaye Iron & Steel Group Co., Ltd. (“Party
B”)
Based on the
friendly negotiation and mutual benefits, the Parties reach the
following agreement concerning procurement cooperation between the
Parties:
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1.
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Party A agrees
to entrust Party B to purchase source materials in the market and
Party B agrees to accept such entrustment and promises to use its
own purchase channels and personnel and try its best to purchase
source materials at the lowest price and costs.
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2.
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Party B may,
under its own name, negotiate and execute relevant contracts with
the clients, provided that major contract provisions such as the
types, specifications, unit price of the purchased source materials
shall be notified to and agreed by Party A before any final
agreement is executed.
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3.
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Party B shall
make sure that the purchased materials be del
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