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On January 2, 2024, African Agriculture Holdings Inc., through its subsidiary African Agriculture, Inc. (AFRAG), entered into a significant multi-year supply agreement with Dr. Kahn, a diversified holding company based in South Korea. The agreement stipulates that AFRAG will supply Dr. Kahn with alfalfa from 700 hectares of land currently under development, with the price subject to a pre-determined benchmark and periodic adjustments. Dr. Kahn will handle shipping logistics costs and any expenses upon the alfalfa's arrival in South Korea. Payments for each shipment are due within 30 days of receiving the bill of lading, and quality inspections are to be conducted at the port of loading. In case of non-conformity, Dr. Kahn has the right to either require replacement...Show More
On January 2, 2024, African Agriculture Holdings Inc., through its subsidiary African Agriculture, Inc. (AFRAG), entered into a significant multi-year supply agreement with Dr. Kahn, a diversified holding company based in South Korea. The agreement stipulates that AFRAG will supply Dr. Kahn with alfalfa from 700 hectares of land currently under development, with the price subject to a pre-determined benchmark and periodic adjustments. Dr. Kahn will handle shipping logistics costs and any expenses upon the alfalfa's arrival in South Korea. Payments for each shipment are due within 30 days of receiving the bill of lading, and quality inspections are to be conducted at the port of loading. In case of non-conformity, Dr. Kahn has the right to either require replacement or negotiate a reduced price. AFRAG is also responsible for providing insurance for each delivery. The agreement, which is expected to contribute to African Agriculture's revenue in 2024 and 2025, cannot be terminated without Dr. Kahn's written consent before the full agreed supply is delivered. Any disputes will be resolved through arbitration. The company publicly announced the agreement on January 4, 2024, emphasizing the deal's alignment with its growth strategy and commitment to global food security and sustainability. This agreement marks African Agriculture's expansion into the Asian market, complementing its existing presence in nine ECOWAS countries and the Gulf region.
2024年1月2日,非洲农业控股公司通过其子公司非洲农业公司(AFRAG)与总部位于韩国的多元化控股公司卡恩博士签订了一项重要的多年供应协议。该协议规定,AFRAG将向卡恩博士提供来自目前正在开发的700公顷土地上的紫花苜蓿,价格视预先确定的基准和定期调整而定。卡恩博士将处理紫花苜蓿抵达韩国后的运输物流费用和任何费用。每批货物的付款应在收到提单后的30天内支付,质量检查将在装货港进行。如果不合格,Kahn博士有权要求更换或协商降低价格。AFRAG还负责为每次交付提供保险。该协议预计将在2024年和2025年增加非洲农业的收入,在全部协议供应交付之前,未经卡恩博士的书面同意,该协议不能终止。任何争议都将通过仲裁解决。该公司于2024年1月4日公开宣布了该协议,强调该交易符合其增长战略以及对全球粮食安全和可持续发展的承诺。该协议标志着非洲农业向亚洲市场的扩张,补充了其在九个西非经共体国家和海湾地区的现有业务。
2024年1月2日,非洲农业控股公司通过其子公司非洲农业公司(AFRAG)与总部位于韩国的多元化控股公司卡恩博士签订了一项重要的多年供应协议。该协议规定,AFRAG将向卡恩博士提供来自目前正在开发的700公顷土地上的紫花苜蓿,价格视预先确定的基准和定期调整而定。卡恩博士将处理紫花苜蓿抵达韩国后的运输物流费用和任何费用。每批货物的付款应在收到提单后的30天内支付,质量检查将在装货港进行。如果不合格,Kahn博士有权要求更换或协商降低价格。AFRAG还负责为每次交付提供保险。该协议预计将在2024年和2025年增加非洲农业的收入,在全部协议供应交付之前,未经卡恩博士的书面同意,该协议不能终止。任何争议都将通过仲裁解决。该公司于2024年1月4日公开宣布了该协议,强调该交易符合其增长战略以及对全球粮食安全和可持续发展的承诺。该协议标志着非洲农业向亚洲市场的扩张,补充了其在九个西非经共体国家和海湾地区的现有业务。
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