• THE PARTIES HAVE BEEN AGREED THAT THE SHARE OF REPAYMENT OF RECOURSE LOAN FUND BY THE PARTIES WILL BE SHARE AS 50%:50% WITH INCLUDED OF BANK CHARGE AND ANY OTHER EXPENSE OF CONSULTANCY FEE AND ACCRUAL INTEREST.
• THE PRICIPAL AND ACCRUAL SETTLEMENT TO BE DONE WITHIN FIFTEEN (15) DAYS PRIOR TO THE MATURITY DATE OF COLLATERAL (SBLC) OR TO BE RENEWAL OF THE COLLATERAL FOR ONE MORE YEAR IF THE PARTIES CAN NOT REPAYMENT OF THE PRINCIPAL PLUS ALL ACCRUAL INTEREST.
E. CREDIT FACILITATOR IS RESPONSIBLE TO ARRANGE AND SUBMIT LOAN AGREEMENT TO THEIR CASH RECEIVING BANK FOR INCOME TAXATION DECLEARATION AS PER STANDARD OF OVERSEA INVESTMENT FUND.
F. THE MT760 WILL BE ISSUED IN ACCORDANCE WITH THE STANDARD UNIFORM RULES OF THE INTERNATIONAL CHAMBER OF COMMERCE, PARIS, FRANCE
G. BANK INSTRUMENT (SBLC) TO BE ISSUED TO CREDIT FACILITATOR NOMINTED COMPANY NAME AS BENEFICIARY AND AS THE SBLC HOLDER TO BE RETURN SBLC BACK TO THE ISSUING BANK AT THE MATURITY DATE UPON REPAYMENT BY PARTY “A”.
3. ADDITIONAL STIPULATIONS:
A. ALL PARTIES HEREIN AGREED THAT RULES FOR NON-CIRCUMVENTION/NON-DISCLOSURE AND ALL AMENDMENTS ARE HEREBY INCORPORATED AND SHALL APPLY TO ALL PARTIES TO THIS TRANSACTION, SHALL BE IN EFFECT FOR A PERIOD OF FIVE YEARS FROM THE DATE OF THIS AGREEMENT.
B. THE FORCE MAJEURE EXCEPTION CLAUSE IS ALSO HEREBY INCORPORATED AND MADE AN INTEGRAL PART OF THIS AGREEMENT.
C. BOTH PARTIES CONFIRM THAT EACH IS FULLY EMPOWERED, LEGALLY QUALIFIED AND DULY AUTHORIZED TO EXECUTE AND DELIVER THIS DOCUMENT AND BE BOUND BY ITS TERMS AND CONDITIONS.
D. THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE COUNTRY WHERE THE BANK INSTRUMENT IS ISSUED AND IN ACCORDANCE WITH THE GUIDELINES OF THE INTERNATIONAL CHAMBER OF COMMERCE, PARIS, AND LATEST EDITION.
E. THIS AGREEMENT MAY BE EXECUTED IN COUNTERPARTS, ANY OF WHICH AND ANY E-MAIL TRANSMITTED COPIES OF WHICH SHALL BE DEEMED TO HAVE THE SAME LEGAL FORCE AND EFFECT AS AN ORIGINAL DOCUMENT.
F. THIS AGREEMENT, AND THE ATTACHED EXHIBITS, REPRESENT THE ENTIRE AGREEMENT BETWEEN THE PARTIES AND CAN BE CHANGED ONLY IN WRITING.