Due from Related Party

3 Months Ended

Mar. 31, 2022

Related Party Transactions [Abstract]

Due from Related Party

7) Due from Related Party

The Company entered into a Master Service Agreement, Shared Services Agreement and Rental Sublease Agreement with its parent.

As per the Master Services Agreement, parent provides technical resources according to the statement of work from the Company. The initial term of the agreement is twenty-four months which is extendable based on mutual consent. The parent charges for the services at cost plus margin. The invoices are settled within sixty days as per the agreement.

As per the terms of the Shared Services and Rental Sublease Agreement, the cost incurred by the parent on behalf of the Company are settled at cost.

The Shared Services Agreement includes Development infrastructure, Sales support, Recruitment and Immigration support, Project coordination, HR and Operation support, Management /Advisory services. The Company received shared services amounting to $222 and $379 for the quarter ended March 31, 2022, and 2021 respectively .The Company has paid for this services during the quarter.

The Company does not have any signed lease agreement on its name and currently operates from two office locations leased by the Parent. The Company has entered into a sublease agreement with the Parent and paid rent of $43 and $18 for the quarter ended March 31, 2022, and 2021 respectively.

The balance receivable from related parties as of March 31, 2022, was $1,267 and for the year ended December 31, 2021 was $816. The amount represents advance payment towards project related services.