EXHIBIT 10.2
(TRANSLATION)
CONTRACT ON PERMISSION TO SELL DUTY FREE
MERCHANDISE AND TO LEASE PREMISES TO ENGAGE
IN BUSINESS AT THE BANGKOK AND REGIONAL AIRPORTS
DUTY STAMP Contract No. 6-04/2539
THIS CONTRACT is made on the 6th day of March 1996 at the Airports Authority of
Thailand between THE AIRPORTS AUTHORITY OF THAILAND by Air Chief Xxxxxxx Xxxxxx
Chandrubeksa, the Governor, hereinafter referred to as "AAT" of the one part and
J.M.T.DUTY FREE CO., LTD., a limited company incorporated under the Civil and
Commercial Code, having tile head office located at 000/00-00 Xxxxxxxxx Xxxx,
Xxxxxxx Sub- District, Pathumwan Districi, Bangkok Metropolis by Mr. Viratana
Suntaranond, the person authorized to act on behalf of the company under the
Affidavit issued by the Partnerships and Companies Xxxxxxxxxxxx Xxxxxx, Xxxxxxx
Xxxxxxxxxx Xx. 0000 dated February 26, 1996, hereinafter referred to as the
"Supplier" of the other part.
WHERAS AAT is desirous to make available the service of sale of duty free
merchandise to passengers at the Bangkok Airport and regional airports which are
under the supervision of AAT, i.e. the Chiangmai Airport, Hat Yai Airport and
Phuket Airport.
WHERAS The Supplier has knowledge, skill and experience and has been granted
permission from AAT to engage in the said business.
NOW, THEREFORE, AAT and the Supplier hereby agree as follows:
AAT agrees to permit the Supplier to engage in the business within the airports
and to lease premises therein in order to operate the business/herein
contemplated subject to the conditions detailed in the "Contract Conditions for
Engagement in Business in Airports and Lease of Premises for Engagement in
Business" and the following Appendixes attached hereto and which are deemed
parts hereof:
Appendix A. List Showing Details of Leased Premises, Duration of Lease,
Rental, Charges and Plans of Leased Premises.
Appendix B. Contract Security.
Appendix C. Documents Showing the Incorporation and the Authorized Person
of the Supplier.
Appendix D. Other (if any);
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This Contract is made in duplicate with identical content. The Parties have
thoroughly read and understood the same, thus setting their hands together with
the seal (if any) affixed in presence of witnesses and each keeping one copy.
ATT Supplier
--- --------
(Signed) Air Chief Marshal (signature) (Signed) (signature) (seal)
(Xxxxxx Chandrubeksa) (Mr. Viratana Suntaranond)
Witness Witness
------- -------
(Signed) (signature) (Signed) (signature)
(Xx. Xxxxx Panyapas) (Mr. Somjit Nupui)
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(TRANSLATION)
CONTRACT CONDITIONS FOR ENGAGEMENT
IN BUSINESS IN AIRPORTS AND LEASE OF
PREMISES FOR ENGAGEMENT BUSINESS.
CHAPTER 1. GENERAL PROVISIONS
1.1 Scope of Engagement in Business
AAT agrees to permit the Supplier to engage in the business in the airports
as detailed in Chapter 2 hereof.
1.2 Premises for Engagement in Business
The Supplier shall engage in the business under this Contract in the
premises as designated by AAT, the details of which are shown in Appendix
A. The Supplier agrees to lease the said premises for engagement in the
business and shall, as the lessee, comply with the conditions herein
stipulated in all respects.
1.3 Duration of Contract
AAT agrees to permit the Supplier to engage in the business and to lease
the premises therefor for a duration set forth in Chapter 2 hereof.
1.4 Remuneration, Rental and Method of Payment
1.4.1 In consideration to the permission granted for the engagement in
business and lease of premises, the Supplier agrees to pay to AAT
remunerations and rental as follows:
(a) Fee for the execution of contract in the amount of Baht 8,334
(Eight thousand three hundred and thirty four Baht) which is not
inclusive of VAT.
(b) Remuneration payable from the business engaged and time for
payment thereof shall be as stipulated in Chapter 2.
(c) Rental and charges shall be as stipulated in Appendix A.
1.4.2 The fee stipulated in Clause 1.4.1 (a) is to be paid to AAT on the
date hereof.
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1.4.3 The Supplier agrees to pay the rental and charges as stipulated in
Appendix A to AAT monthly in advance within the 5th day of every
month.
1.4.4 The Supplier consents to bear all the expenses to be incurred in
engagement in the business, e.g. charges relating to the electricity,
telephone, water supply or other costs and agrees to pay the same to
AAT within the period fixed in the invoices relating to such
respective expenses.
1.4.5 The Supplier agrees to pay for AAT all the duty, levy and fees to be
incurred from the engagement in business and which are payable under
the law which is now in force or to be in force in the future.
The Housing and Land Tax as shown in Appendix A hereto is an estimate
of the average monthly Housing and Land Tax. Should there be any
change to the rate as herein specified by AAT, the Supplier consents
for AAT to charge the same at the rate as amended.
1.4.6 All the payments as herein required shall be made to the Financial
Section, the Financial Division of AAT. Upon such payments have been
duly made by the Supplier to AAT, AAT shall issue relevant receipts
therefor to the Supplier. All such receipts must bear the joint
signatures of the Chief of the Financial Section, the Financial
Division of AAT or any person entrusted therefor and of the Chief of
the Receipt-Payment Works, the Financial Section, the Financial
Division of AAT or the person ntrusted as the financial officer of
AAT.
1.4.7 If the Supplier is in default of payment of any of the remunerations,
rental, duty and charges herein payable to AAT, the Supplier consents
to pay a penalty to AAT at the rate of 1.5 (one point five) percent
per month of the amount owed throughout the period of such default.
Fraction of any month shall be treated as one month.
The upplier agrees that the right mentioned in the preceding
paragraph shall not prejudice the right of AAT to terminate this
Contract and to claim for other damages.
1.5 The Supplier's Obligations
1.5.1 In engaging in the business herein stipulated, the Supplier shall use
its skill, care and effort in accordance with the standard applied by
other suppliers in the same business, and shall take into account the
reputation and image of AAT.
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1.5.2 Except a prior written consent is given by AAT, the Supplier shall
neither assign the business herein stipulated nor grant a consent for
any person to engage in the business whether in whole or in part.
Even though such consent is granted by AAT, the Supplier shall still
assume all liabilities to be incurred from the engagement in the
business herein stipulated.
1.5.3 The Supplier shall comply with the law, whether now in force or to be
in force in the future, elating to the engagement in business herein
stipulated.
1.5.4 The Supplier shall comply with the special obligations stipulated in
Chapter 2 hereof.
1.6 The Supplier's Obligations as Lessee of Premises Required for Engagement in
Business under this Contract.
1.6.1 Except a prior written consent is given by AAT, the Supplier shall
not use the leased premises for any purpose other than for engagement
in the business herein stipulated.
1.6.2 Except a prior written consent is given by AAT, the Supplier shall
not, whether in whole or in part, sublease or assign the lease or
consent any person to exploit the leased premises.
1.6.3 Except a prior written consent is given by AAT, the Supplier shall
not make any alteration, modification or addition to the leased
premises.
Any alteration, modification, addition or repair, whether major or
minor, made to the leased premises shall become AAT's property as
from the date from which such alteration, modification, addition or
repair is made thereto, and the Supplier shall not be entitled to
claim for any costs therefor or any damage from AAT.
1.6.4 The Supplier shall always keep and maintain the leased premises in a
tidy and clean condition. Should the leased premises be dirty,
cluttered or deteriorated, the Supplier shall properly clean or
repair the same at the Supplier's expenses.
1.6.5 The Supplier shall, at its own expense, make available at the leased
premises fire extinguishers which are approved by AAT.
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1.6.6 The Supplier shall comply with and shall ensure that the Supplier's
dependents or persons appointed, entrusted, employed or engaged by the
Supplier to work in the business, comply with all related orders,
rules or regulations of AAT whether the same are currently in force or
which will be prescribed in the future. The Supplier shall also
exercise good care in not allowing any person to use the leased
premises for any illegal purpose or for keeping or concealing any
illegal item therein. Should there be an occurrence of any such
events, the Supplier shall be liable to AAT for any damage incurred as
a result of the act of any such persons as if it was the act of the
Suppliers.
1.6.7 Throughout the period for which the lease of premises is still in
effect, the Supplier will, from time to time and for a reasonable
duration, allow AAT or its personnel to inspect the leased premises
and facilitate such personnel in making such inspection.
1.7 Termination
1.7.1 Except as otherwise stipulated in Chapter 2 hereof, during the period
of this Contract, AAT is entitled, if so desired, to terminate this
Contract prior to the expiry of its term provided a written notice
thereof must be given to the Supplier not less than thirty (30) days
in advance. The Supplier agrees not to institute any lawsuit or claim
for any damage against AAT as a result thereof.
1.7.2 Each of the stipulations of this Contract is of essence. Should the
Supplier commit or fail to commit any act in violation of any
stipulation of this Contract or become bankrupt, AAT is entitled to
immediately terminate this Contract and to claim for damage including
to forfeit the contract security herein given.
1.8 Cessation of Business and Return of Leased Premises.
1.8.1 Upon the expiry of the term of this Contract or the exercise by AAT
of its right to terminate this Contract in accordance with Clause 1.7,
as the case may be, this Contract shall be deemed to be immediately
terminated. The Supplier shall then cease to engage in the business,
demolish or remove the Supplier's properties from the leased premises
and return the leased premises to AAT within seven (7) days from the
expiry date or the date following the date on which the notice of
termination was given, as the case may be.
1.8.2 Should the Supplier fail to comply with the stipulation of Clause
1.8.1, the Supplier consents for AAT to immediately repossess the
leased
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premises including to demolish or remove the Supplier's properties
from the leased premises. The Supplier consents to bear all the
expenses incurred by AAT therefor. Should there be any damage incurred
therefrom, the Supplier shall not claim for any damage.
1.8.3In addition to the consent given to AAT to repossess the leased
premises and to demolish or remove the Supplier's properties therefrom
as mentioned in Clause 1.8.2, the Supplier also consents to pay a
daily penalty to AAT at the rate stipulated in Chapter 2 to be
calculated from the date following the due date required for the
Supplier to cease the business and return the leased premises until
the Supplier and its dependents shall have vacated the leased premises
and properly returned the same or until AAT has duly completed the
acts stipulated in Clause 1.8.2, as the case may be.
1.9 Dispute
The Parties agrees to refer any dispute arisen out of this Contract to
any Court of competent jurisdiction within Bangkok Metropolis.
CHAPTER 2. SPECIAL PROVISIONS
2.1 Scope of Engagement in Business
2.1.1AAT agrees to permit the Supplier and the Supplier agrees to engage
in the business of sale of duty free merchandise at the Bangkok
Airport and other regional airports under the supervision of AAT, i.e.
Chiangmai Airport, Hat Yai Airport and Phuket Airport, to persons
using the services of such airports.
2. 1.2 In engaging in such business, AAT agrees to let and the Supplier
agrees to lease the premises and areas within the Bangkok Airport,
Chiangmai Airport, Hat Yai Airport and Phuket Airport, the details of
which are shown in Appendix A hereto, hereinafter referred to as the
"Leased Premises".
2.2 Construction or Decoration or Renovation
During the period of this Contract, if the Supplier is desirous to make any
decoration or renovation of, install any equipment or apparatus in or make
any necessary additional construction to the Leased Premises, the Supplier
shall propose the plans therefor for AAT's prior approval, and shall later
do so at the sole expense of the Supplier. Any such construction,
decoration, renovation or installation shall be made in a discerning and
orderly manners. The materials to be used therefor must
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be of good quality and contemporary. The Supplier consents for such
construction, decoration, renovation or installation to become the property
of AAT as from the date the same is made thereto, and the Supplier shall
not claim for any expense OF remuneration therefor against AAT.
2.3 Duration of Contract
2.3.1AAT agrees to permit and the Supplier agrees to engage in the business
of sale of duty free merchandise herein stipulated for a period of 5
years commencing from January l, 1997 to December 31, 2001.
2.3.2AAT agrees to let and the Supplier agrees to lease the Leased
Premises for a period stipulated in the List attached hereto as
Appendix A.
2.4 Remunerations for Permission to Engage in the Business of Sale of Duty Free
Merchandise and Method of Payment
2.4.1The Supplier agrees to pay the remunerations for the permission
granted to engage in the business of sale of duty free merchandise as
follows:
a) monthly remuneration payable to AAT at the rate of 15 (fifteen)
percent of the gross receipt of all the duty free merchandise
sold in each month.
b) monthly remuneration payable to the Department of Customs at the
rate of 15 (fifteen) percent of the gross receipt of all the duty
free merchandise other than the indigenous merchandise, sold in
each month
2.4.2The remunerations payable to both AAT and the Department of Customs
under Clause 2.4.1 shall in the aggregate be not less than the amount
of the remuneration fixed for each respective years as follows:
1997 : Commencing from January 1, 1997 to December 31,1997, the
Supplier agrees to pay the remunerations at the minimum of Baht
650,000,000 (Six hundred fifty million Baht);
1998 : Commencing from January 1, 1998 to December 31,1998, the
Supplier agrees to pay the remunerations at the minimum of Baht
675,000,000 (Six hundred seventy five million Baht);
1999 : Commencing from January 1, 1999 to December 31 1999, the
Supplier agrees to pay the remunerations at the minimum of Baht
700,000,000 (Seven hundred million Baht);
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2000 : Commencing from January 1, 2000 to December 31, 2000, the
Supplier agrees to pay the remunerations at the minimum of Baht
725,000,000 (Seven hundred twenty five million Baht);
2001 : Commencing from January 1, 2001 to December 31, 2001, the
Supplier agrees to pay the remunerations at the minimum of Baht
750,000,000 (Seven hundred fifty million Baht).
2.4.3The remuneration which the Supplier agrees to pay to AAT and the
Department of Customs under Clause 2.4.1 or 2.4.2 is not inclusive of
VAT for which the Supplier shall deal with the same as required by
law.
2.4.4The Supplier agrees to pay the remuneration stipulated under Clause
2.4.1 (a) to AAT, to pay or file the VAT stipulated under Clause 2.4.3
for AAT and to provide AAT with a report certifying the total sale of
the duty free merchandise made during each month, all within the 20th
day of the following month.
2.4.5The Supplier agrees to pay the remuneration stipulated in Clause
2.4.1 (b) to the Department of Customs and to pay or file the VAT
stipulated in Clause 2.4.3 for the Department of Customs in accordance
with the conditions and method to be prescribed by the Department of
Customs.
2.4.6In case the total remuneration agreed to be paid by the Supplier in
any year is less than the minimum remuneration required to be paid by
the Supplier in that respective year, the Supplier shall pay the
deficit thereof to AAT within 30 days from December 31 of the
respective preceding year.
2.4.7Should the Supplier fail to pay or file the VAT in the manner as
herein required, the Supplier shall be responsible to pay for such tax
including the penalty and surcharge imposed by law thereon.
2.5 Special Obligations
2.5.1In engagement in the business of sale of duty free merchandise at the
Bangkok Airport and other regional airports within the supervision of
AAT, AAT has permitted other supplier to engage in the same business.
The Supplier shall, therefore, comply with the obligations herein
agreed upon with AAT in all respects. Should there be any dispute, AAT
shall render a decision on the same and the Supplier shall comply with
AAT's suggestion thereon.
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2.5.2Unless a written consent is given by AAT in advance, the Supplier
shall not transfer, whether in whole or in part, the business of the
sale of duty free merchandise under this Contract to any third party.
2.5.3Unless a written consent is given by AAT in advance, the Supplier
shall neither assign nor sublease, whether in whole or in part, the
Leased Premises
2.5.4Should the business of sale of duty free merchandise as herein
permitted, whether in whole or in part, is subject to an approval to
be granted by a competent officer under any law, rules or regulations
of the relevant Governmental departments or bodies, the Supplier shall
obtain the approval from such competent officer who is acting under
the said law, rules, or regulations.
2.5.5For each fiscal year of the Supplier, the Supplier shall, at its own
expense, have its auditor to certify in writing to AAT every year of
the turnover of the sale of duty free merchandise made in each
respective years.
2.5.6In engaging in the business under this Contract, should the Supplier
or the persons appointed, entrusted or employed by the Supplier to
work in its business, cause any damage to the property or reputation
of AAT, the Supplier shall be liable to the same and shall, upon being
notified by AAT in writing, pay for all damages incurred to AAT.
2.5.7During engagement in the business under this Contract, should there be
any severe crisis incurred, e.g. war or civil commotion and etc., by
which it causes decrease in the number of air passengers and which may
affect the turnover of the sale of duty free merchandise, and thereby
preventing the Supplier from being able to pay to AAT the agreed
minimum yearly remuneration as stipulated in Clause 2.4.2, in such
event, AAT and the Supplier agree to discuss a suitable rate therefor
provided AAT's conclusion on the same shall be final and the Supplier
shall not make any dispute thereto.
2.5.8In engaging in the business of sale of duty free merchandise as
herein stipulated, the Supplier agrees to comply with the following:
2.5.8.1 The duty free merchandise to be sold or kept in the bonded
warehouse, shall be those permitted by the competent authority
under the customs law.
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2.5.8.2 The Supplier shall open - close the business premises for
making the sale of duty free merchandise under the following
conditions:
- For the Bangkok Airport, the business hours must be opened -
closed at least from 06.00 a.m. - 02.00 a.m. everyday.
- For the regional airports, i.e. the Chiangmai Airport, Hat Yai
Airport and Phuket Airport, the business premises for sale of
duty free merchandise must be opened 30 minutes prior to the
first arriving or departing flight at or from that respective
regional airport and be closed 1 hour after the last arriving or
departing flight at or from that respective regional airport
everyday.
2.5.8.3 The price tags of the duty free merchandise available for
sale, must be displayed in a conspicuous manner, and the currency
thereof shall be in Thai Baht and/or other currency as it is deemed
appropriate.
2.5.8.4 The Supplier shall supervise and train its staff or employees
or persons whom are assigned to perform the works under this Contract
to dress properly and to have polite manners while making the sale of
merchandise or performing other duties under this Contract.
2.5.8.5 Neither signboard nor advertising object shall be installed
unless a prior written permission is granted by AAT.
2.5.9The Supplier agrees to provide shares to AAT equal to 5 (five) percent
of its registered capital which is equivalent to Baht 10,000,000 (Ten
million Baht).
2.6 AAT's Reservation
2.6.1 During engagement in the business under this Contract, AAT reserves
the right to have its personnel to, from time to time and for any
reasonable duration or in case of necessity, inspect the business premises
and to examine documents relating to the sale of duty free merchandise
under this Contract. The Supplier shall in any event facilitate AAT or any
of such AAT's designated personnel therefor.
2.6.2 During the period of this Contract, AAT reserves the rights, by
advance notice to the Supplier, to adjust the rental and any charges
relating to the lease of the business premises as AAT deems it appropriate
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and consistent with the economic situation, and the Supplier agrees to
accept the new rates of rental and charges adjusted by AAT.
2.7 Contract Security
In entering into this Contract, the Supplier agrees to provide a contract
security in a form of cash or a bank guarantee issued by any local bank, to
secure its performance under this Contract, the details of which is
attached hereto as Appendix B.
2.8 Measurement of the Leased Area
The area of the '[eased or business premises as shown in Appendix A hereto
is only an estimate for the purpose of calculating the rental and related
charges, AAT shall, upon the completion by the Supplier of the renovation
or decoration of the business premises, measure the actual area thereof for
making calculation based upon the same. AAT shall inform the result thereof
in writing to the Supplier and the Supplier shall acknowledge the same in
writing. Such AAT's notice and the Supplier's acknowledgement shall form
part hereof.
2.9 Damage
Should the Supplier not comply with the stipulation of Clause 1.8.1, the
Supplier agrees to pay damage to AAT at the rate of Baht 4,246,300 (Four
million two hundred forty six thousand three hundred Baht) per day.
2.10 Right of Termination
During the period of this Contract, AAT is entitled, it so desired, to
terminate this Contract prior to its terms by giving a written notice
therefor to the Supplier not less than 180 (One hundred eighty) days in
advance, and the Supplier agrees not to institute any lawsuit or claim for
any damage against AAT.
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LIST SHOWING DETAILS OF LEASED PREMISES, DURATION OF LEASE, RENTAL, CHARGES AND
PLANS OF LEASED PREMISES ATTACHED TO THE CONTRACT ON PERMISSION
TO SELL DUTY FREE MERCHANDISE AND
TO LEASE PREMISES TO ENGAGE IN BUSINESS AT THE BANGKOK AND REGIONAL AIRPORTS
Contract No. 6-04/2539 dated March 6. 0000
Xxxxxxxx A
(Total 13 Pages)
Page 1
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Particulars Area in Rental Rate Rental Charges Housing and Lease Period
Square Baht/Sq.m. Land Tax ---------------------------------
Meter /month Baht/month Baht/month Baht/month From Up to
(Sq.m.)
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Areas and Counters within the Bangkok
Airport
-------------------------------------
- Transit Lounge 60.00 750.- 45,000.- 6,750.- 5,625.- January 1, 1997 December 31, 2001
- Passenger Arrival Hall (No. 1749) 72.50 750.- 54,375.- 8,156.25 6,796.88 January 1, 1997 December 31, 2001
- No. 1349 (E) 7.50 750.- 5,625.- 843.75 703.13 January 1, 1997 December 31, 2001
- Nos. 1361, 1361 A 60.00 750.- 45,000.- 6,750.- 5,625.- January 1, 1997 December31, 2001
- Passenger Departure Hall 260.00 750.- 195,000.- 29,250.- 24,375.- January I, 1997 December 31, 2001
- NQ. 3303 B 34.- 750.- 22,500.- 3,825.- 3,187.50 January 1, 1997 December 31, 2001
- No. 3342 A, 3342 B, 3344, 3345, 3346 363.00 750.- 272,250.- 40,837.50 34,031.25 January 1, 1997 December 31, 2001
- Departure area on the 3rd floor
(additionally provided) 240.00 750.- 180,000.- 27,000.- 22,500.- January 1, 1997 December 31, 2001
Areas and Counters within Chiangmai
Airport
-------------------------------------
- Passenger Arrival Hall 20.00 400.- 8,000.- 1,200.- 1,000.- January 1, 1997 December 31, 2001
- PassengerDepartureHall 40.00 400.- 16,000.- 2,400.- 2,000.- January 1, 1997 December31, 2001
Areas and Counters within Hat Yai
Airport
------------------------------------
- Passenger Departure Hall 60.00 400.- 24,000.- 3,600.- 3,000.- January 1, 1997 December 31, 2001
- Passenger Arrival Hall 13.40 400.- 7,360 - I,104.- 920 - January 1, 1997 December 31, 2001
Page 2
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Particulars Areaa in Rental Rate Rental Charges Housing Lease Period
Square Baht/Sq.m. Land Tax ----------------------------------
Meter /month Baht/Month Baht/month Baht/month From Up to
(Sq.m.)
------------------------------------------------------------------------------------------------------------------------------------
Areas and Counters within Phuket
Airport
- PassengerDeparture Hall 146.00 400.- 58,400.- 8,760.- 7,300.- January 1, 1997 December 31, 2001
- Passenger Arrival Hall 6 1.00 400.- 24,400.- 3,660.- 3,050.- January I, 1 997 December 31, 2001
------------------------------------------------------------------------------------------------------------------------------------
AAT Company
--- -------
(Signed) Air Chief Marshal (signature) (Signed) (signature) (seal)
(Xxxxxx Chandrubeksa) (Mr. Viratana Suntarannond)
Witness Witness
------- -------
(Signed) (signature) (Signed) (signature)
(Mr. Somjit Nupui) (Xx. Xxxxx Panyapas)
[ELEVEN PAGES OF ARCHITECTUAL DRAWINGS OMITTED]
Appendix B
CONTRACT SECURITY
-----------------
1. In entering into this Contract, the Supplier agrees to provide a contract
security either by cash or a letter of guarantee of any domestic bank as
follows:
1.1 1st Year commencing from January 1, 1997 to December 31, 1997 in the
amount of Baht 325,000,000 (Three hundred twenty five million Baht).
1.2 2nd Year commencing from January l, 1998 to December 31' 1998 in the
amount of Baht 337,500,000 (Three hundred thirty seven million five
hundred thousand Baht).
1.3 3rd Year commencing from January l, 1999 to December 31' 1999 in the
amount of Babt 350,000,000 (Three hundred fifty million Baht).
1.4 4th Year commencing from January 1, 2000 to December 31' 2000 in the
amount of Baht 362,500,000 (Three hundred sixty two million five
hundred thousand Baht).
1.5 5th Year commencing from January l, 2001 to December 31, 2001 in the
amount of Baht 375,000,000 (Three hundred seventy five million Baht).
2. The Supplier agrees to provide the said contract security under the
following conditions:
2.1 During the lst year, the Supplier agrees to provide the contract
security to AAT not less than 90 days prior to the commencement of
business herein stipulated.
2.2 During the subsequent years, the Supplier agrees to provide the
contract security to AAT not less than 30 days for the operations of
each respective years.
2.3 The Supplier shall make a cover letter for the delivery of the
contract security to AAT. Upon receipt by AAT of such contract
security, AAT shall make a written confirmation for the receipt
thereof to the Supplier. Such Supplier's cover letter and AAT's
written confirmation shall form part of this Contract.
3. AAT shall return the security, provided by the Supplier to secure its
performance under this Contract, after the Supplier is released from its
obligations under this contract.
Enclosure
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Unit No. Area Stipulated Area Actually Date of Delivery Commencement
in the Contract Utilized of the Area by Date for Payments
(Sq.m.) (Sq.m.) AAT of Rental and Charges
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2237 A 60.00 133.50 Before January 1, 1997 January 1, 1997
1749 A 72.50 75.00 January 8, 1997 January 16, 1997
1349 E 7.50 7.50 January 8-31, 1997 January 16 - 31, 1997
1363 A 60.00 43.50 January 8, 1997 January 16, 1997
1363 B - 7.20 January 8, 1997 January 16, 1997
3715 A 260.00 295.00 January 8, 1997 January 24, 1997
3303 C 34.00 36.00 Januarv 8, 1997 January 16, 1997
3342 A 603.00 Lower 646.00 January 8, 1997 January 30, 1997
3342 A/1 - Upper 340.50 February 21, 1997
3715 B - 6.30 January 24, 1997
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Total 1,097.00 1,583.00
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Unit for 200.00 January 1-23, 1997
Temporary 150.00 January 1-5, 1997
Use 246.00 January 6-29, 1997
