Banking Facilities Agreement between Tai Wah Timber Factory Limited and Green Dragon Wood Products Co. Ltd. (2010)

Contract Categories: Business Finance › Facility Agreements
Summary

Tai Wah Timber Factory Limited is granting banking facilities to Green Dragon Wood Products Co. Ltd., effective September 1, 2010. The agreement provides a combined import loan and letter of credit facility up to HKD 5,000,000. A commission of 3.5% applies to the invoice amount, covering certain fees but excluding insurance and other charges. Overdue interest is 0% within 60 days (with a 15-day grace period) and 18% after 60 days. The agreement outlines the financial terms and conditions for these banking services.

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EX-10.6 2 ex106.htm EXHIBIT 10.6 Unassociated Document
Exhibit 10.6
 
TAI WAH TIMBER FACTORY LIMITED
 
Agreement
 Aug 23, 2010
   
Banking Facilities granting to Green Dragon Wood Products Co. Ltd.
  
   
Effective Date 
  01-Sep-10
   
Combined Import Loan & LC 
HKD 5,000,000.00
   
Commission   3.5% on invoice amount
include LC opening comm., custom declaration fee
  
exclude insurance, exchange difference, LC amendment & other bank charges incurred
  
   
Overdue Interest (per annum)   0% within 60 days*
  18% over 60 days*
   
* grace period 15 days, will not charge interest.  
   
agreed by  
 
 
     
       
 
 
    
   
for and on behalf of
  
   
Green Dragon Wood Products Co. Ltd.