Cooperation Agreement
EX-10.16 94 v220238_ex10-16.htm Unassociated Document
Cooperation Agreement
Party A: Shishi Feiying Plastic Co., Ltd
Party B: Jinjiang Yuanfeng Shoes Trading Co., Ltd
Whereas
| 1. | Party B is actively expanding market and has set multi sales networks in various places, so Party B is in great need of products for distribution and exhibition. |
| 2. | Product price in the market is in an uptrend, Party B needs to stock some products to occupy advantageous position in the competition. |
| 3. | Party B will increase purchasing products from Party A and gives preference to Party A. |
| 4. | Party A shall fully understand what Party B does as stated above. |
The two parties come to the following agreement based on friendly negotiation:
| 1. | Party A agrees to postpone account period of batches of products of Party B to one year and Party B shall pay the loan to Party A in one year. Refer to the Appendix for the detailed order. |
| 2. | Because the originally agreed account period is 150 days, for the longer occupation of funds due to account period postponement, Party B shall interest to Party A and the interest will adopt 15% discount of one-year bank interest rate in the same period; Interest-bearing time will be based on the actual occupation period. |
| 3. | The interest shall be paid to Party A together with the loan on the specified day. |
| 4. | All accounts involved are subject to the order attached. |
| Shishi Feiying Plastic Co., Ltd | Jinjiang Yuanfeng Shoes Trading Co., Ltd |
Seal  | Seal  |
| January 10, 2011 | January 10, 2011 |
