(RTTNews) - Monday, Earthport Plc (EPO.L: News ) said it has entered into an agreement with Zink Financial SA which forms an important cornerstone of Earthport's global rollout strategy, enabling more rapid expansion at lower cost.

The company said that the agreement, signed on 20 November 2009, provides for the payment by Zink to Earthport of a non-refundable first-year franchise fee of £3.25 million for the territories of Central America, South America and the Caribbean. The first year franchise fee is to be received by Earthport by 21 December 2009.
Under the terms of the agreement, a detailed franchise operating contract between the two parties will be signed by early 2010, providing definitive terms to operate a franchise of Earthport's business in the region for a period of five years. These terms will also provide for Earthport to receive professional service and monthly maintenance fees, Earthport said.

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by RTT Staff Writer

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