Kallo Inc. Receives Copies of the Contract Documents for National Healthcare Projects from the Ministry of Health and the Ministry of Finance of the State of Eritrea
December 23, 2020 at 10:10 pm IST
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On December 18, 2020 Kallo Inc. received executed copies of the following contract documents for National Healthcare Projects from the Ministry of Health and the Ministry of Finance of the State of Eritrea (the Ministry") as entered into between and among: the Ministries, Techno-Investment Module Limited, a corporation domiciled in the Republic of Belarus with offices in Minsk, Republic of Belarus (TIM") and Kallo Inc. (the Agreement"). National Healthcare Projects. Kallo is solely responsible for the delivery to the Ministry, all goods that are to be provided under the Agreement; Kallo assumes all risk of loss for the delivery of all goods to the Ministry and all such goods are to be insured at Kallo's sole expense and in a freely convertible currency; Kallo is solely responsible to complete tests and inspections of all goods to be delivered to the Ministry
and do so without any cost or expense to the Ministry;
The Ministry has the right to require that Kallo carry out any one or more additional tests that the Ministry
may deem necessary to verify that the characteristics and performance of the goods delivered by Kallo comply
with technical specifications at the expense of the Ministry as set forth in the Agreement;
upon delivery of goods to the Ministry by Kallo, satisfactory completion of all tests and the approval and
acceptance of the test results by the Ministry, the Ministry is to issue a Notice of Acceptance";
the Ministry has the right to reject any goods provided by Kallo that fail to pass manufacturer's prescribed
tests and/or inspection or do not conform to the specifications set forth in the Agreement or in any
referenced understandings;
all goods and services provided by Kallo under the Agreement are warranted by Kallo to be suitable for the
purposes set forth in the Agreement and are to conform to the specifications set forth therein.
Notwithstanding any satisfactory test results, Kallo is not released from any of the warranties made by Kallo
under the Agreement and all warranties continue for a period of twelve (12) months from and after completion
of any acceptance testing" by the Ministry;
Kallo indemnifies and holds the Ministry harmless from and against any claims, suits, and actions asserting
any violation of any applicable patent claims, copyright claims, and both;
except for criminal negligence or willful misconduct, Kallo is not responsible, whether in contract, tort, or
otherwise, for any indirect or consequential loss or damages suffered or incurred by the Ministry or other
persons affiliated with the Ministry and the aggregate liability of Kallo shall not exceed the purchase
price of the goods acquired from Kallo by the Ministry.
Further, the Ministry, TIM and Kallo have agreed that: Each of the Contract Payments is expected to be delivered to Kallo and Kallo will deliver EUR 25,000,000 of each payment to the Ministry's National Food Security Program. Overall, the Agreement and the transactions contemplated by the Agreement involve significant risks and
uncertainties. In that respect and in other respects, we cannot assure you that any of the express written
contractual understandings contained in the Agreement and any of the unwritten but implied understandings not
recited in the Agreement and those that we may enter into will be successfully undertaken. We have no prior
contractual experience working with the State of Eritrea or any persons at the Ministry except as set forth in
the Agreement.
Kallo Inc. offers a healthcare delivery program. Its healthcare delivery program provides advanced healthcare solution that is customized to each country including infectious disease management and customized education and training programs. The Companyâs technology suite transforms healthcare delivery through rural healthcare, disease management, clinical globalization, and e-health solutions. Its telehealth program is a technology connected to its global network of physicians, nurse practitioners, pharmacists, specialists, and surgeons specialized in minimal invasive procedures on a federated model. The telehealth program facilitates synchronous and asynchronous interactions where patients and staff are in different locations. Its maintenance services program includes three components: Biomedical Engineering services, Mechanical and Electrical Engineering services, and Information and Communications Technology.
Kallo Inc. Receives Copies of the Contract Documents for National Healthcare Projects from the Ministry of Health and the Ministry of Finance of the State of Eritrea