Polibeli subsidiary signs cloud services agreement with approximately US$130.1 million in scheduled fees

A Polibeli Group subsidiary signed a cloud computing services agreement with a Japanese company on October 15, Polibeli said in an SEC filing. The initial order covers a scheduled 60-month service period, with approximately US$130.1 million in fees based on full delivery and excluding applicable taxes. The customer must prepay 20% of scheduled fees upon signing, credited proportionately against monthly invoices. Services and recurring fees begin only after receipt of that payment, availability of upstream services and completion of readiness and acceptance procedures. Fees can change for partial delivery, service credits, early termination or expiry of upstream services.