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(This Agreement made and entered by and between KIA Motors Corporation,
that certain Distributorship Agreement which granted to the Distributor the right to
as "KMC Vehicles");
One: (General)
(The present agreement regulates all relationships between sides in order to
сайжруулалт /
(3. It is agreed that side “B” receives an initial approval by side “A” to sell
goods similar to those manufactured by side “A”.)
Three: ( Order )
(1. The side “B” informs about the order detailing specifications, quantity and
(.2.The side “A” upon receipt of certain orders inform back with prices and
delivery schedule.)
(To place an order, side “B” deposits 50% of the price by wire transfer or
(2. The side “B” shall be liable for all expenses including transportation from
(3. The side “B” arranges inspection of the received goods in regard of
quantity, quality and informs the side “B” within 48 hours in case of finding any
failures. Any claims are not accepted beyond the mentioned time.)
(4.The sold goods are not received back except those mentioned in the
warranty manual. )
(5. The storage period in the sea export warehouse is 30 days with possibility
to prolong only 3 times with maximum period of 90 days. When the maximum
period is over, the goods will be a property of the side “A” with no rights to
claim and further sale at the auction to cover storage fee and other related
expenses.)
( The side “B” appoint MHK Co.Ltd in Korea as the agent of “B” to
formalities and the side “A” accept the agent as like “B” .)
Five: ( Price)
(1. The side “A” quotes special price for goods and those quoted prices is valid
(The side “B” should pay for transporation charge from warehouse to CY
case of departure from Korean port but the side “A” should admit it.)
(The side “B” should submit B/L and shipping document within 7 days
after shippment.)
( If the side “A” ask for “B” change shipping company in case the
Six: ( Payment )
local L/C, the side “B” pays a balance within 7 days from the completion of
(2. All payments shall be made in Korean won according to the rates of
overdue penalty fee will be paid to the side “A” starting from the day of
delay.)
(4. The payment dad line is 13:00 pm for any payment and prolonged
(5. The side “B” recovers the deducted sum in the deposited payment within
20 days )
Seven: ( Liabilities )
(It is forbidden to transfer all liabilities coming from this agreement to the third
party)
Eight: ( Deposit and financial warranties)
(1. The deposit in cash or immovable property paid to the side “A” shall be equal
cash.)
(2. The mortages of the side “B” are 700,000U$ opened in MHK to CHO
HEUNG BANK and real estate belong to Kim Tae Hwa that located 3 dong
gae-po, Kangnam Gu. The mortage can be changed by agreement with the
Nine: (Training)
(1. The side “A” shall provide direction and training to appropriate personnel of
(2. The side “B” provides information on export and sales and other
the agreement.)
forbidden for the side “B” to register similar brand names and logos.)
(2. The side “B” monitors the copyright ownership of the trade mark
owners and informs the side “A” about any violations harming the law.)
(The side “A” allow the side “B” only use mark of the side “A” in
(2. The side “A” agrees to reimburse the side “B” for repair and/or replacement
arranges for quality after service and ready for immediate solution of the
customers claims)
(4. The side “B” is dedicated for arranging general service based on quality,
(5. The side “B” strives to resolve all the claims and in case if insolvency will
try to resolve the problem trough China regional office or Overseas team. )
Twelve. ( Promotion and advertisement)
(The side “A” shall place equipment, sign boards and goods in the territory of
Thirteen. (Termination)
(2. The side “B” fails to secure a license by financial organizations and
(4. Refusal of the party “B” to timely furnish sales, financial, warranty and
the Distributor.)
(7.The claim by side “A” that side “B” violated a special discounted price
side “A”)
(2. Upon termination of the agreement, the side “B” is liable to settle all debt
and payments against side “A” and refuse from any profits. All relationships
progress.)
(3. Both sides are entitled to terminate this Agreement without incurring any
liability to the other party by giving one (1) month prior written notice to
the other party. Upon the negotiations, the agreement could be terminated
any time. )
( When agreement is terminated, side “B” returns to the side “A” all necessary
and sales) and refuses to use brand names, logos and exhibits of the trade
mark owners.)
( If the side “B” keeps this agreement well , the side “A” can’t
from the deposit paid to the side “A” and damages caused by “A” will be
)
Fifteen: (Validity)
(The present agreement is valid for one year from the date of its signing and
from parties.)
Sixteen: ( Jurisdiction)
. (All claims raised from this agreement shall be settled by the local court located
Seventeen: (Others)
the general rule for claim settlement and previous experience shall be
practiced)
(The agreement is made in two copies, one for each side.)