Commercial Bill Agreement (English Summary)Commercial Bill Agreement • July 29th, 2010 • China Packaging Group Inc. • Services-health services
Application, rights and obligations Once the Acceptance Applicant signs the commercial bill, the commercial bill is deemed to be issued; Disputes regarding the transactions on which the commercial bill is based shall not affect this agreement; When the commercial bill is due and the Acceptance Applicant can not settle or can only settle part of the amount, a daily penalty interest of 0.05% of the remaining amount is imposed on the Acceptance Applicant; When the commercial bill is due and the Acceptance Applicant does not pay, the Acceptor is entitled to deduct from the Acceptance Applicant’s bank account with only a notificaiton to the Applicant; All expenses associated with execution of this agreement shall be borne by the Acceptance Applicant; The following will be deemed as breach of the agreement, and in case the Acceptance Applicant does not correct these breaches, the Acceptor is entitled to terminate the agreement, or announce that all or part of the balace are due immediately:
