Article 6: the party “A” shall provide the responsible documentation for the payment at 100 percents in total amount in the contract to the party “B” as issued by the bank in Cambodia, not exceeding 30 days from the date of signing the agreement (business days).
6.1: The party “A” and the party “B” agreed to open an escrow account in a bank as indicated
6.2: The party “A” agreed to make the first payment at 100 percent to the party “B” in total amount as set herein is USD. 6,905,856.00 (Six million nine hundred five thousand eight hundred and fifty six US dollars only) in order that the party “B” to transport the machinery for implementing the Country Road construction project
6.3: The party “A” makes payment for the construction project implementation to the party “B” All payments will be when the project is completed. Within 7 days.
6.4: The party “A” shall make the progress report of the construction project as already implemented to attach to the motion for payment to the party “A”
Article 7: The payment condition to this Country Road construction project shall be written and confirmed in another agreement in reference with the technical standard to be implemented the construction project and shall be approved by the parties concerned the above project.
Article 8: In case that any barrier to the Country Road construction implementation as caused by any party to this contract to the above construction project implementation, such party shall be responsible before the law of the Kingdom of Cambodia applicable.