TZ Limited (“TZL”, the “Company”) is pleased to announce that the Company has entered into a Master Supply Agreement with the Westpac Banking Corporation (“Westpac”) to cover the on-going supply of day locker products and services to Westpac. TZL has previously advised the market that it had been selected by Westpac as its preferred supplier of a day locker management system. This Master Supply Agreement formalises the terms for all further purchase orders that Westpac may wish to make during the term of the Master Supply Agreement.
The Master Supply Agreement has a term of three (3) years and covers the on-going supply of TZL’s Day Locker Solution to Westpac offices including terms for additional services such as Software Development, Technical Support, Hardware and Software Maintenance that may be required during the term. The Agreement also allows for the agreed product prices to be varied on a rise and fall basis against variations in costs of materials, after the first year of the term of the Agreement.
“We continue to supply Westpac with TZL’s smart locking solution and enterprise wide management system for Day Lockers which are currently being deployed across Westpac offices in Melbourne, Sydney and Brisbane.” stated Kenneth Ting, Executive Director of TZ Limited. “This Master Supply Agreement formalises the relationship and provides the structure for on-going purchases and the provision of new services including further software integration and development and on-going hardware and software maintenance.”