Attached files
Entrust
agreement
Truster
(hereinafter referred to as Party A) ：Tianjin Joway
Textile Co., Ltd.
Trustee
(hereinafter referred to as Party B)： Changlong
Si
ID Card
Number: 22020319821022211X
Party A
and Party B reach a consensus through friendly consultation on the matter that
Party A entrusts Party B to purchase a CITIC trust fund on behalf of Party
A.
I.
Duties of Each Party
1. Party
A is responsible to supply RMB 10 million to Party B to purchase CITIC trust
fund.
2. Party
B is responsible to purchase RMB 10 million of CITIC trust fund on that day when
Party B receives remittance from Party A or the next day; and return RMB 10
million and all interests of the CITIC trust fund to Party A on that day when
this agreement expire or the next day.
II. Period of the Entrustment
The
period of the entrustment is from February 25, 2009 to August 25,
2010.
III. Default
Responsibilities
1. Party
B shall purchase CITIC trust fund timely when receiving Party A’s remittance
according to this agreement. In case of breach of agreement by Party B, Party A
shall be entitled to require Party B to compensate for all losses of Party A
resulting therefrom.
2. Party
B is not allowed to embezzle the entrusted money. In case of breach of agreement
by Party B, Party A shall be entitled to require Party B to compensate for all
losses of Party A resulting therefrom and to bear relevant legal
liability.
3. If
Party A demand to recall the entrusted money in advance, Party B shall be
entitled to require Party A to compensate for all losses of early
redemption.
4. When
this agreement expire, Party B shall return all the entrusted money and relevant
interests timely according to this agreement. In case of breach of agreement by
Party B, Party A shall be entitled to require Party B to compensate for all
losses of Party A resulting therefrom and to bear relevant legal
liability.
IV. Dispute
Settlement
Should
any dispute happens during the execution of this agreement by both parties, it
should be solved through friendly consultation. In case no agreement can be
reached through consultation, any party may summit the dispute to the People's
Court on the side of Party A.
V. This agreement shall
become effective upon the signatures of both parties.
VI. This contract is
executed in duplicate, one for each party.
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Party
A: /stamp/ Tianjin Joway Textile Co., Ltd.
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Party
B: /s/ Changlong Si
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Date:
February 20, 2009
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Date:
February 20, 2009
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