Tripartite Agreement on Debt Transfer
Tripartite Agreement on Debt Transfer
Party A: Qianhai Yingxi Textile and Garment (Shenzhen) Xx.Xxx
Party B: Shenzhen Bitun Investment Fund Management Xx.Xxx
Party C: Hong Zhida
Party A and Party B signed the Loan Agreement on May 1st, 2017. Party A still owes a part of the loan to Party B. Now, Party A, Party B and Party C agree on the following items of the agreement on the repayment issue:
| 1. | Party A, party B and party C confirm that, according to the loan agreement, Party A owed 10,000,000 RMB to Party B (referred to as ‘debt’ further on this document) by the date of July 31, 2018. |
| 2. | Party A, party B and party C agree that, from the date the agreement, Party A transferred the debts to Party C who takes over the responsibility for the debt repayment. |
| 3. | Party B approves that Party C must manage to pay off all the debts by the date of December 30, 2018. |
| 4. | After the present agreement, the debtor-creditor relationship between Party A and party B will end. Party B shall not claim any debt to party A after this agreement. Any other debt between party A and party C arising from this tripartite transfer agreement, shall be handled by both parties through settlement. |
| 5. | The present agreement will become effective after Party A, Party B, and Party C sign this paper. If the present agreement fails to solve arising problems in the future, Party A, Party B, and Party C shall make a supplementary agreement. |
| 6. | If any disagreement related with this contract occurs, the three parties should have a mutual negotiation in order to solve the problem. If the negotiation fails, all the parties should agree to apply to the Shenzhen Arbitration Commission for arbitration. |
| 7. | This agreement should be duplicated into 3 copies. Each party should hold one copy of this agreement. |
| 8. | This agreement is attached by The above mentioned ‘Loan Agreement’. |
Stamp and Signature page
Party A
Date
Party B
Date
Party C
Date
