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Related Parties

9 Months Ended

Sep. 30, 2019

Note 10. Related Parties

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

	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Sales to related parties	$	1,729	$	1,667	$	5,713	$	3,804

Fees paid to directors and officers	$	836	$	833	$	2,658	$	2,461
Payments to other related parties	$	964	$	863	$	2,797	$	2,525

	September 30, 2019		December 31, 2018
Current Assets:
Due from VS	$	5,885	$	6,229
Due from other related parties		2,503		2,010
	$	8,388	$	8,239

Liabilities:
Due to related parties - current	$	5,099	$	1,500
Due to related parties - long term	$	617	$	600

The Company also has a note payable which matures in 2022 related to the acquisition GM&P for $8,500 due to the former owner who holds shares of the Company and a management position within the Company.

Ventana Solar S.A. (“VS”), a Panama Sociedad anónima, is an importer and installer of the Company’s products in Panama. Family members of the Company’s CEO and COO and other related parties own 100% of the equity in VS. The Company’s sales to VS for the three months ended September 30, 2019 and 2018 were $631 and $853, respectively. The Company’s sales to VS for the nine months ended September 30, 2019 and 2018 were $1,156 and $2,067, respectively.

Payments to other related parties during three and nine months ended September 30, 2019 and 2018 include the following:

	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Charitable contributions	$	354	$	282	$	959	$	849
Sales commissions	$	357	$	360	$	1,119	$	1,037

Charitable contributions are donations made to the Company’s foundation, Fundación Tecnoglass-ESW.