ARTICLE 11.0 MISREPRESENTATION:
BOTH PARTIES mutually agree that any misrepresentation by the USD PROVIDER or HKD PROVIDER will be deemed as an act of fraud and will be treated as such by the Governing Laws of HONG KONG S.A.R. and the aggrieved PARTY shall submit the case to the jurisdiction of the Criminal and Civil Laws of HONG KONG S.A.R.
ARTICLE 12.0 PENALTY CLAUSE:
In the event of any one of the Party Failed to perform under this agreement under the stiplulated Terms and Conditions set, the Defaulted Party/ies has to pay to the Aggrieved Party a penalty of (1%) One percent for the First Tranche USD 100 Million Only within 72 hrs as from the defaulted time and date under this agreement.
ARTICLE 13.0 GUARANTEE OF USAGE:
That USD PROVIDER and HKD PROVIDER, together will all the BENEFICIARY/IES on record by virtue of this AGREEMENT, hereby assume
full responsibility as they hereby guarantee that all proceeds received herein shall not be used directly to support any anti-government activity, money-laundering, terrorist activities, insurgency, subversion or rebellion nor to the manufacture or trade in arms munitions, illicit drugs and any item prohibited by law.
With full responsibility below executes this PRIVATE CURRENCY EXCHANGE AGREEMENT, on this Date:
For and on behalf of USD PROVIDER’s For and on behalf of HKD PROVIDER:
Mandate/Principal Mandate. Mandate/Principal Mandate
I hereby swear under the International Laws of Perjury and Fraud that the information provided by me herein is accurate and true and that I have read and understood the full AGREEMENT. Signed and sealed on the date indicated below by the signature.