Translation of CTBC Bank Credit Approval Notification, dated November 17, 2017
Exhibit 10.75
CTBC Bank Co., Ltd.
Notification of Credit Line Approval
Next Annual Review Date: July 31th, 2018
| 1. Credit Grantee Name and Joint and Several Guarantor: | |||||
| Credit Grantee / Legal Representative
| China United Insurance Services, Inc. Yi-Hsiao Mao | Joint and Several Guarantor | Law Insurance Broker Co. Ltd. | ||
| Co-Issuer of a Negotiable Instrument | Law Insurance Broker Co. Ltd. | ||||
| Promissory Note Issuer | – | ||||
| 2. Credit Line Approval (Including Financial Transaction Limit) | |||||
| (1) Details of Approved Credit Line | |||||
| Credit Type | Product Type | Amount | Term (months) | Interest Rate and/or Administrative Fees | |
| General Credit-Short-Term with No Collaterals | Short Term –Foreign Currency | USD 1,000,000 | 12 | Interest Rate: Foreign Currency Interest Rate: According to CTBC’s Cost of Fund + 1% | |
| (2) Terms and Conditions of Credit Granting | |||||
| General Provisions | [Case #TW00097508] 1. Interest Payment: Monthly; Principal Payment: Upon Maturity 2. CTBC shall conduct semi-annual review to confirm that the Credit Grantee and Law Insurance Broker Co., Ltd. have jointly maintained an accumulated average of TWD 60,000,000 in savings at CTBC | ||||
| Special Provisions | N/A | ||||
| (3) Notes
After your company signs this notification, as the market condition changes, CTBC reserves the rights to approve or reject your company’s application for withdrawing or using the credit line based on the original interest rate/administrative charge. If your company indeed demands funds, your company can apply for drawdown only after both parties have agree on the interest rate/administrative charge or the credit line, and record the information on the relevant drawdown application. Any matter not addressed herein shall be resolved by reference to CTBC’s credit line agreement and relevant policies.
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CTBC Bank Co., Ltd.
China United Insurance Service, Inc. (seal)
Date: November 17, 2017
