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Agreement for Services of the First Party and the Second Party
Dated 1 March 2000
This Agreement is made on the above mentioned date by and between the following Parties:
………., The Owner;
………….. the Second Party.
The Owner and/or its affiliates are prevented by the Government of China to make financial transactions including depositing in bank accounts with respect to a number of its own or its affiliates’ money in cash in China and as a result certain amount of the Owner’s funds has been blocked in China and the Owner’s attempts to release the money has failed so far;
The Service Provider has expressed its abilities to legally exert its expertise with respect to Chinese government and banking system in order to get the release order of the blocked fund in favour of the Owner and take necessary steps to deposit or transfer the fund to the Owner’s nominated bank accounts;
The Parties hereby agree as follow:
1. SUBJECT MATTER
The subject matter of this Agreement is obtaining all necessary permissions and authorisations from the relevant authorities in order to get the release of the blocked fund of the Owner, hereinafter the “Blocked Fund”, so that the Blocked Fund will be easily depositable or transferable to any bank accounts nominated by the Owner.
2. BLOCKED FUNDS
The amount of Blocked Fund is equal …….. (EUR ……..) in cash which was intended to be deposited or transferred to the nominated bank accounts of ………………………………… as below:
The Parties confirm and acknowledge that the total amount of the Blocked Fund belong to the Owner. The Service Provider has not right or title to the Blocked Fund unless as provided in the terms and conditions of this Agreement.
The Service Provider will act as the Owner’s fiduciary and on behalf of the Owner and shall in all time observe Owner’s benefits and interests in provision of its Services. The Service Provider shall take all due care and diligence to ensure that as a result of its Services and activities no hazards and complications will be occurred to the Blocked Fund, otherwise the Service Provider shall be liable to rectify all damages and loss incurred to the Owner.
3. RELEASE AND TRANSFER
The Service Provider shall take all necessary steps, prepare all necessary requests and documentations, make any necessary correspondence with the relevant Chinese authorities and bank officials in order to safely and surely obtain any and all required permissions for releasing the Blocked Fund, hereby referred to as the “Release”. The Service Provider shall deposit or transfer the Blocked Fund to the bank accounts nominated by the Owner and shall ensure that such transfer will be completed safely and the Blocked Fund will sit in the Owner’s nominated bank account mentioned in appendix with no risks complications, hereinafter the “Transfer”.
The Service Provider shall ensure that any blocking and freezing problems will not again occur in the Owner’s nominated bank accounts. Thereby, the Service Provider shall ensure that the releasing permissions will cover and protect the new bank accounts and the released money in the Owner’s nominated bank accounts will be protected from any freezing risks.
The Service Provider shall take actions with respect to each of the above mentioned Blocked Fund parts one at a time. Therefore, the Service Provide shall start with the First above mentioned parts. In case of successful release and transfer of the First part, the Service Provider shall proceed with the next part each at a time, subject to successful release and transfer of the preceding one.
The Release and deposit or Transfer shall strictly comply with the Owner’s instructions. The Release and deposit or Transfer is considered as completed, hereinafter the “Completion” when approved by the Owner that the amount is safely transferred or deposited to its nominated bank accounts by issuing a letter of confirmation
4. AGREEMENT DURATION AND COMPLETION TIME SCHEDULE
This agreement shall remain in force until completion of the Release and Transfer unless earlier terminated by the Owner, or in case of fault or default of the Service Provider.
The Service Provider undertakes to announce and note the Owner of time schedule of completing the Release and deposit or Transfer within 2 days as of signing this Agreement and the announced time schedule by the Service Provider and finishing the release and deposit or transfer of Blocked Funds, should not exceed 30 calendar days; otherwise the Owner shall have the right to terminate this Agreement.
In case the Service Provider is not able to Release and deposit or Transfer the Blocked Fund within the Time Schedule it shall pay the Owner 1% of the amount equal to ……………… EUR of Blocked Fund. In case nominated accounts are blocked or frozen, Service Provider shall pay the Owner 1% of the amount equal to …………….. EUR. In case the Blocked Fund is not received in the Owner’s nominated bank account and relevant authorities confirm Blocked Fund release or transfer, the Service Provider shall be liable to fully compensate the Owner for the total amount of the Blocked Fund.
如果服务供应商无法按计划解除和存入或转入被冻结资金，则应当支付被冻结资金的1%（欧元），即 欧元，作为赔偿。如果新开立的账户被冻结，服务供应商应支付1%（欧元），即 欧元，作为赔偿。如果业主的新开立的账户没有收到被冻结资金，相关机构已确认被冻结资金解除或转让，则服务供应商应当承担全额赔偿责任，按照被冻结资金金额赔偿业主。
5. SERVICE FEE
In case of successful and complete Release and deposit or Transfer of the Blocked Amount of each part to the nominated bank account of Owner, the Service Provider will be entitled to the remuneration of 70% of the amount of each part as its success Fee. Before the completion of Release and deposit or Transfer the Service Provider is entitled to no payment, charges and/or compensation whatsoever.
The Service Provider declares that all the Release and deposit or Transfer activities and related steps will be done through legal channels and shall hold harmless and indemnify the Owners of any loss and reduction of the Blocked Fund, damages, claims, charges, penalties of third parties including governmental and non-governmental bodies with respect to Release and Transfer Activities.
7. SETTLEMENT OF DISPUTES AND APPLICABLE LAWS
This agreement is governed by the laws of Luxemburg and all disputes as a result of this agreement if not settled by amicable negotiations shall be finally settled in the courts of Luxemburg.
The Parties shall execute this Agreement in good faith. In the witness thereof signed by duly representatives of both Parties.