Note 11. Related Parties

The Company’s major related party entities disclosed in this footnote are: (i) ESW LLC, a Florida LLC partially owned by the Company’s Chief Executive Officer and Chief Operating Officer, (ii) VS, an importer and installer based in Panama owned by related party family members, (iii) Union Temporal ESW (“UT ESW”), a temporary contractual joint venture with Ventanar S. A. under Colombian law that is managed by related parties and that expires at the end of its applicable contract, (iv) UT Semáforos Barranquilla, a temporary contractual joint venture with related party Construseñales S.A. under Colombian law that expires at the end of its applicable contract, (v) A Construir S.A., a heavy construction company in which the Company’s CEO, COO and other related parties are equity investors, (vi) Construseñales S.A, a traffic signal construction company in which the Company’s CEO, COO and other related parties are equity investors.

The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers:

	At June 30,		At December 31,
Assets	2014		2013
Due from ESW LLC	$	13,593	$	11,823
Due from VS		602		2,690
Due from UT ESW		3,776		3,199
Due from other related parties		2,034		1,346
	$	20,005	$	19,058

Liabilities
Due to A Construir S.A.	$	(1,075)	$	(2,314)
Due to UT Semáforos Barranquilla		(2,092)		(1,287)
Due to Construseñales S.A.		-		(3,633)
Due to other related parties		(622)		(1,163)
	$	(3,789)	$	(8,397)

	Three months ended June 30,				Six months ended June 30,
	2014		2013		2014		2013
Revenues
Sales to ESW LLC		9,638		7,333		18,151		11,642
Sales to VS		57		27		96		40
Sales to UT ESW		49		2,780		115		6,517
		9,744		10,140		18,362		18,199

Sales to other related parties wasless than 0.1 million in the three months ended and six months ended June 30, 2014 and 2013.

Expenses
Fees paid to directors and officers	621	304	621	421
Payments to other related parties*	1,162	577	1,162	666

*Payments to other related parties in 2013 and 2014 consists of donations to Fundación Tecnoglass and for 2014 the 1,162 was all paid in the three months ended June 30, 2014.

In 2013, the Company guaranteed a loan for $163 used to develop a lot adjacent to the Alutions plant into a related party fuel service station, Santa Maria del Mar S.A. At June 30, 2014, the guarantee was in good standing and no liabilities have been recorded, and the Company was in the process of restructuring the guarantee to exclude the involvement of Tecnoglass, S.A., as required by the merger agreement.

On April 16, 2014, the Company guaranteed approximately $300 of bank loans for the Company’s Foundation. The guarantee is in good standing and no liabilities have been recorded.