Acceptance Agreement of Commercial Bill
No.
Changxing 2008 Rendui 1025
Applicant:
Changxing Chisen Electric Co., Ltd.
License
No.:330500400005429(1/1)
Legal
Representative or Person in Charge: Xx Xxxxxxx
Address:
Changxing Ecnomic Development Zone
TEL:0000000
Acceptance
Bank: China Bank Co., Ltd. Changxing Branch
Legal
Representative or Person in Charge: Xxx Xxxxxxx
Adress:
Changxing
TEL:00000000
The
Applicant applies to the Acceptance Bank for commercial bill, and after
consultation, both parties hereby enter into this Agreement to evidence the
aforesaid.
Article
1. The Applicant issues 9 commercial bills total amount 20,000,000.00 yuan,
RMB
twenty million yuan.( see annex for the detail of acceptance bill)
Article
2. The Acceptance Applicant (hereinafter refer red to as the Applicant) applies
the abovesaid bill from the Acceptance Bank, and shall strictly comply with
of
the Law of Bill of the Peoples Republic of China ,Measures for Payment and
Settlement of an Account , regulations and the following clauses:
I.
The
Applicant shall deposit the amount of the bill in its account opened in the
acceptance bank before the due date, Account No.:20742008093001
II.
The
Applicant shall deposit 50% of the face value of the acceptance bill, RMB ten
million yuan in the account specially used for security in the acceptance bank
as the acceptance security(Opening bank:Bank of China Changxing Branch, Name:
Changxing Chisen Electric Co., Ltd. Account No.:20742008093001 used for
acceptance security of the payment for the bill. The Applicant shall keep the
account in special management. It could not draw money from the special account
without the written consent from the Acceptance Bank,. Both Parties agrees
that
the security interest shall be calculated in accordance with the (c) clause
(subject to the corresponding rate of the Acceptant Bank on the date when the
security is deposit)
(a)
Current deposit
(b)
3
months fixed deposit
(c)
6
months fixed deposit
3.The
acceptance expense shall be charged according to 0.05% of face value and shall
be paid in a lump sum. The Acceptance Bank owns the right to deduct the expense
from the security account of the Applicant opened in it.
4.
The
Applicant shall pay exposure commitment fee according to 0.75% of the
10,000,00000 yuan, the balance between the face value amount and the acceptance
security before or on the due date of the acceptance bill, by transferring
the
money into the account of the Acceptance Bank 99000405333001. The Acceptance
Bank has the right to deduct the exposure commitment fee directly from the
account which the Applicant opened in Acceptance Bank
5.The
Applicant entrusts the Acceptance Bank to print the bill in accordance with
the
terms prescribed in Article 1 After system processing in the Acceptance Bank.
The Applicant is responsible for checking the bill and c hop on the bill. Unpon
the Applicant seals on the bill, it shall be deemed that the Applicant issues
the bill. The bill printed by the Acceptance Bank entrusted by the Applicant
has
equal legal force as the xxxx xxxx by the Applicant in person.
6.The
Applicant shall open Renminbi or foreign currency accounts in accordance with
the requirements of the Acceptance Bank, and accounting shall be made in the
account.
7.
On the
validity date of the bill, the Acceptance Bank can deduct the security from
the
security account without notice in advance to the Applicant and deduct from
the
accounting account the insufficient amount after the security amount is
deducted.
8.
The
Applicant shall pay all the expenses to the Acceptance Bank or to other third
party in connection with the implementation of the Agreement and shall be liable
for the losses to the Acceptance Bank caused by the Applicant’s breach of the
Agreement.
9.
In any
cases as following, the Acceptance Bank has the right to cancel the agreement
unilaterally or terminate or call for due date wholly or in part prior to the
validity date and require the Applicant to pay the bill in
advance.:
(1)The
Applicant makes false statement or fails to keep promise in Article
3;
(2)The
Applicant breaches other Articles of the Agreement;
(3)The
sponsor breaches the Agreement or breaches other Agreement with the Acceptance
Bank.
Article
3 Statement of Guarantee
The
Applicant states that:
(1)It
is
a legal person subject to the law of People’s Republic of China, owning the
right to conduct business with necessary rights and authority and has legal
right to treat its assets.;
(2)It
signs and implements this Agreement on its true willing with legal and valid
authority in accordance with its Article of Associate and regulations upon
without infringements of other agreement, contract or other legal
documents
(3)The
Applicant guarantees that the materials and documents are accurate, authentic,
complete and effective.
The
Applicant guarantees that:
(1) It
shall
comply with the Law of Bill of the Peoples Republic of China ,Measures for
Payment and Settlement of an Account , regulations and the clauses in the
Agreement
(2)
The Bill
in this Agreement is based on legal business , and it shall bear all the
responsibility of the legality
(3)
It shall
provide information in accordance with the requirements of the Acceptance Bank
including but not limited to information or materials on its operation,
financial report, statement and shall be responsible for the veracity
,authenticity and validity of the information.
Article
4 Disclosure of the Affiliates
and Affiliate Business
The
two
Parties agrees the (1) clause
|
(1)
|
The
Applicant is not listed in the Group Customer Credit-committing Risks
in
Commercial Banks.
|
Article
5
Guarantee
The
acceptance security of the payable amount shall be made in the (1) (2)
forms:
(1)Zhejiang
Changxing Chisen New Light Source Co., Ltd provides the jointly liability
guarantee, signing Maximum Guarantee Agreement No. Changxing 2008 Renbao 034;
Xx
Xxxxxxx provides the jointly liability guarantee, signing the Maximum Guarantee
Agreement No. Changxing 2008 Renbao 035
(2)
Changxing Chisen Electrics Co., Ltd provides montage guarantee, signing Maximum
Montage Agreement No. Changxing 2008 Rendi 021, No. Changxing 2008 Rendi
022
Article
6
Any dispute in connection with the implementation of the Agreement shall be
settled by negotiation. If the dispute cannot be settled, it shall be solved
in
the (2) method:
(2)
Bring
lawsuit before the People’s Court with jurisdiction right.
During
the period of settlement, the other clauses shall be implemented in case that
the dispute does not influence the implementation of other
clauses,.
Article
7
The Agreement shall come into force once after being signed and sealed by the
legal representatives or entrusted person.
The
Agreement is made in duplicate with the Applicant and the Acceptance Bank
holding one origin with equal legal force.
Applicant:
Changxing Chisen Electric Co., Ltd. (seal)
Legal
Representative or Person in Charge: /s/ Xx Xxxxxxx (signature)
Date:
September 18th,
2008
Acceptance
Bank: China Bank Co., Ltd. Changxing Branch (seal)
Legal
Representative or Person in Charge: /s/ Xxx Xxxxxxx (signature)
Date:
September 18th,
2008
Description
of Bank Acceptance Draft
|
Drawer’s
Name
|
|
Drawer’s
Account
|
|
Paying
Bank
|
|
Bank
No.
|
|
|||||||||||||||
|
Changxing
Chisen Electric Co., Ltd.
|
|
20742008093001
|
|
|
|
China
Construction Bank
Changxing
Branch
|
|
45334
|
|
|||||||||||||
|
Drawer’s
Information
|
|
|
|
Amount
|
|
Date
Drawn
|
|
Due Date
|
|
|||||||||||||
|
Order
|
|
Company
Name
|
|
Account
No.
|
|
Opening
Bank
|
|
Bank
No.
|
|
|||||||||||||
|
1
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
2
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
3
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
4
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
5
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
6
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
7
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
8
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
9
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
10
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
11
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
12
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
13
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB1,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
14
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB2,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
15
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
RMB2,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
|||||||
|
16
|
|
Jiangsu
Xiangfa Battery Co., Ltd.
|
|
32001728036052502278
|
|
China
Construction Bank Xuyu Branch
|
|
|
|
|
RMB10,000,000.00
|
|
Sept.
19, 2008
|
|
March
19, 2009
|
|
||||||
|
Total
|
RMB20,000,000.00
(in words: twenty million Xxxx Xxxxxxxx)
|
|||||||||||||||||||||
Acceptance
Bank (seal): China Construction Bank Changxing Branch
Signature:
Applicant
(seal): Changxing Chisen Electric Co., Ltd.
Signature:
Xx Xxxxxxx
