IRREVOCABLE COMMISSION AGREEMENT
AgreementNo.:
Date:
This agreement is as per International Chamber of Commerce (ICC)
The both parties hereby agree and confirm that this IRREVOCABLE COMMISSION AGREEMENTis an attachment for the contract No.CSCLC/TKSFB-0,and this agreement is valid untilthe end of the Contract.
1. AGREEMENT INITIATION DATE:
This agreement enters into force on _______________ ,
2.PARTIES :
This agreement is made and entered by and between‘PARTY A’ and ‘PARTY B’ as follows: PARTY A :
COMPANY:
ADDRESS:
COUNTRY:
TEL:
FAX:
E-MAIL:
AND
PARTY B:
COMPANY:
ADDRESS:
COUNTRY:
TEL:
FAX:
E-MAIL:
3.THE COMMISSION:
With reference to theSALE & PURCHASE CONTRACTNO. CSCLC/TKSFB-00 betweenxxxxxxxxxxxx and xxxxxxxxxxxxxxxxx covering the purchases and sales of Iron Ore Lump or Finesunder the Contract, the ‘PARTY B ’has agreed and confirmed to pay ‘PARTY A ’the commission which is regarded as PARTY A’s service on this deal under the Contract.
The ‘PARTY B’ hereby agrees to pay the ‘PARTY A’, the sum in commission of US$3.00per Metric Ton of product shipped under contract no.CSCLC/TKSFB-00 appended ，in accordance with the ‘PARTY A’s instructions (as provided for below), simultaneously within the same banking day as the L/C issuing bank makes payment on each shipment.
The ‘PARTY B’ and The ‘PARTY A’ agree that value of commission is confidential information and can’t be disclosed to other entities than this agreement signatory, his representatives and can be only disclosure by the way required for make herein named payment of commission.
Any assignee or legal successor to either party shall assume all obligations and benefits of the agreement.
4. BANKING INFORMATION:
PARTY B’S BANKING INFORMATION:
BANK NAME:
Account name:
A/C NO:
5. AGREEMENT ARBITRATION: All disputes or differences whatsoever arising between the parties out of or relating to the construction, meaning and operation or effect of this agreement or the breach thereof shall be settled by friendly negotiations between the two parties. If no settlement can be reached, the case in dispute shall then be submitted for the China International Economic and Trade Arbitration Commission for arbitration under their rules with China law
(Arbitration place: Beijing，China).
6. CHANGES:
Any changes of terms relating to this agreement must be done in a written form, and agreed upon by both parties.
7. EXECUTION OF AGREEMENT:
Each of the parties to this agreement represents that it has full legal authority to execute this agreement and that each party is to be bound by the terms and conditions as set forth herein. EXECUTION and DELIVERY of this Agreement by and between the undersigned constitutes and shall be construed by any/or all parties to be an IRREVOCABLE OFFER.
8. SPECIAL CLAUSE:
This agreement has been drawn up in two identical copies, of which one copy for each party. This facsimile agreement will remain enforceable after the hard copy agreement is exchanged. Faxed originals are to be considered as legal and binding as if they were original. This facsimile
agreement shall be deemed as invalid until signed by both parties. This Agreement is part of an entire contract to be executed and incorporated by reference into this Agreement. Each party agrees that agreement may be executed simultaneously by and between the parties via fax or facsimile transmission, each of which shall be deemed as original nature.
9. IMPLEMENTATION:
Whilst signature on this agreement certifies the intention of both parties to the agreement, the terms of this agreement shall become binding upon both parties only at such time as the following have been complied with, in writing.
10. AGREEMENT SIGNATORIES:
In witness thereof, the parties have signed below and by doing so have accepted and approved all covenants, terms and conditions of this agreement.
PARTY A:
Signature
PARTY B:
Signature
IRREVOCABLE COMMISSION AGREEMENT
AgreementNo.:
Date:
This agreement is as per International Chamber of Commerce (ICC)
The both parties hereby agree and confirm that this IRREVOCABLE COMMISSION AGREEMENTis an attachment for the contract No.CSCLC/TKSFB-0,and this agreement is valid untilthe end of the Contract.
1. AGREEMENT INITIATION DATE:
This agreement enters into force on _______________ ,
2.PARTIES :
This agreement is made and entered by and between‘PARTY A’ and ‘PARTY B’ as follows: PARTY A :
COMPANY:
ADDRESS:
COUNTRY:
TEL:
FAX:
E-MAIL:
AND
PARTY B:
COMPANY:
ADDRESS:
COUNTRY:
TEL:
FAX:
E-MAIL:
3.THE COMMISSION:
With reference to theSALE & PURCHASE CONTRACTNO. CSCLC/TKSFB-00 betweenxxxxxxxxxxxx and xxxxxxxxxxxxxxxxx covering the purchases and sales of Iron Ore Lump or Finesunder the Contract, the ‘PARTY B ’has agreed and confirmed to pay ‘PARTY A ’the commission which is regarded as PARTY A’s service on this deal under the Contract.
The ‘PARTY B’ hereby agrees to pay the ‘PARTY A’, the sum in commission of US$3.00per Metric Ton of product shipped under contract no.CSCLC/TKSFB-00 appended ，in accordance with the ‘PARTY A’s instructions (as provided for below), simultaneously within the same banking day as the L/C issuing bank makes payment on each shipment.
The ‘PARTY B’ and The ‘PARTY A’ agree that value of commission is confidential information and can’t be disclosed to other entities than this agreement signatory, his representatives and can be only disclosure by the way required for make herein named payment of commission.
Any assignee or legal successor to either party shall assume all obligations and benefits of the agreement.
4. BANKING INFORMATION:
PARTY B’S BANKING INFORMATION:
BANK NAME:
Account name:
A/C NO:
5. AGREEMENT ARBITRATION: All disputes or differences whatsoever arising between the parties out of or relating to the construction, meaning and operation or effect of this agreement or the breach thereof shall be settled by friendly negotiations between the two parties. If no settlement can be reached, the case in dispute shall then be submitted for the China International Economic and Trade Arbitration Commission for arbitration under their rules with China law
(Arbitration place: Beijing，China).
6. CHANGES:
Any changes of terms relating to this agreement must be done in a written form, and agreed upon by both parties.
7. EXECUTION OF AGREEMENT:
Each of the parties to this agreement represents that it has full legal authority to execute this agreement and that each party is to be bound by the terms and conditions as set forth herein. EXECUTION and DELIVERY of this Agreement by and between the undersigned constitutes and shall be construed by any/or all parties to be an IRREVOCABLE OFFER.
8. SPECIAL CLAUSE:
This agreement has been drawn up in two identical copies, of which one copy for each party. This facsimile agreement will remain enforceable after the hard copy agreement is exchanged. Faxed originals are to be considered as legal and binding as if they were original. This facsimile
agreement shall be deemed as invalid until signed by both parties. This Agreement is part of an entire contract to be executed and incorporated by reference into this Agreement. Each party agrees that agreement may be executed simultaneously by and between the parties via fax or facsimile transmission, each of which shall be deemed as original nature.
9. IMPLEMENTATION:
Whilst signature on this agreement certifies the intention of both parties to the agreement, the terms of this agreement shall become binding upon both parties only at such time as the following have been complied with, in writing.
10. AGREEMENT SIGNATORIES:
In witness thereof, the parties have signed below and by doing so have accepted and approved all covenants, terms and conditions of this agreement.
PARTY A:
Signature
PARTY B:
Signature