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EXHIBIT 10.35
Agency Agreement on Natural Rubber Distribution between
Hainan General Bureau Xxx Xxxx Materials Supply General
Company and HARC, dated January 2, 1997 (Certified English
translation of original Chinese version)
The undersigned officer of China Resources Development, Inc., hereby represents
that the following is a fair and accurate English translation of the original
Chinese version of the Agency Agreement on Natural Rubber Distribution between
Hainan General Bureau Xxx Xxxx Materials Supply General Company and HARC, dated
as of January 2, 1997.
/s/ Xxxx Xxx On
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Xxxx Xxx On, Financial Controller
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AGENCY AGREEMENT ON NATURAL RUBBER DISTRIBUTION
Party A: Hainan General Bureau Xxx Xxxx Materials Supply General Company
(the "Principal")
Party B: Hainan Zhongwei Agricultural Resources Company Ltd. (the "Agent")
WHEREAS, the Principal is a wholly-owned subsidiary of the General Bureau of
the Hainan State Farms (the "Farming Bureau") and is authorized by the Farming
Bureau to manage sales of the natural rubber on behalf of the Hainan State
Farms.
NOW, THEREFORE, pursuant to friendly mutual consultation, Party A agrees to
appoint Party B as agent to distribute the natural rubber for Party A.
1. DUTIES OF THE AGENT
The agent shall:
(1) Assist the Principal to distribute the natural rubber to all provinces
and cities across China by utilizing the established sales network of the
Agent;
(2) Advise on the general market conditions of natural rubber;
(3) Assist the Principal in formulating a sales contract with the buyer and to
assist the Principal in the collection of trade debts; and
(4) Assist the Principal to store and transport the natural rubber inventory.
The compensation for such type of services by the Agent should be governed by
a separate contract between the Principal and the Agent.
2. COMMISSION
The Principal shall pay 1.25% of the total sales revenue generated through the
sales network of the Agent as commission.
3. DUTIES OF THE PRINCIPAL
The Principal shall be responsible to provide copies of the sales contract to
the Agent and to warrant the quality of natural rubber that the Principal
supplies.
4. TERMINATION
Either party can terminate this Agreement by a one month notice in writing.
Commission shall be payable on all sales of natural rubber during the period
of the Agency Agreement.
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5. MISCELLANEOUS
This Agreement shall become effective upon the date it is signed by the
Parties. This Agreement shall be made in duplicate and each party shall retain
one copy.
Party A: Party B:
Hainan General Bureau Xxx Xxxx Hainan Zhongwei Agricultural
Materials Supply General Company Resources Company Ltd.
/s/ Xxx Xxxx Jiao /s/ Han Xxxx Xxxx
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By: Xxx Xxxx Jiao By: Han Xxxx Xxxx
Date: January 2, 1997 Date: January 2, 1997
