Common use of Calculation and Payment of Service Fees Clause in Contracts

Calculation and Payment of Service Fees. Both Parties agree that Party A will issue invoice to Party B on a quarterly basis according to the quantity and commercial value of the technical and other services provided by it to Party B at the price agreed by the Parties. Party B shall pay corresponding consulting service fees to Party A according to the date and amount indicated in the invoice. The service fee payable by Party B to Party A in any year shall not be less than 99% of all net profits of Party B in that year. Party A has the right to adjust the standard and amount of the consulting service fee at any time based on the quantity and content of such consulting service provided by it to Party B. Party B shall provide Party A with the financial statements of any fiscal year and all operating records, business contracts and financial information required for issuing the financial statements within fifteen (15) days after end of the fiscal year. If Party A raises any doubt to the financial information provided by Party B, it may appoint a reputable independent accountant to audit relevant information. Party B shall assist such audit.