CONTRACT ON RENTING CAR
No: . . . . . .
Party A : Thanh Binh Construction and Trading company Ltd. Ha Noi Branch 2
Address : N0 1 lane 5/40 Hoang Quoc Viet, Ha Noi
Telephone : (04) 210-7789 Fax: (04) 559-9204
Tax code : 0301186936-007Bank account : 110-2002-3430-013
Bank name : Techcombank 00Dong Do Branch
Represented by : Mr. Pham Trung Tien - Manager
Party B : Daewoo Capital
Address : Cheongnam Building (12F) 1329-3, Seocho-Dong, Seocho-Ku, 137-858 Seoul, Korea
Telephone : +82 2 6917 1062
Fax : +82 2 6308 4358
Represented by : Mr. Chris, Yang
Global Business Team / Deputy General Manager
Terms and conditions
Article 1: The party A agreed the party B to hire a car in order to meet the transportation demand of the party B in Hanoi and in other provinces with as follows:
+ Trade mark : Toyota Innova
+ Type : 8 seaters
Article 2: Price and conditions for hiring car
+ Monthly rent: US$ 1,000/month (include gasoline consumption, driver00 salary) before VAT tax of 5%
English speaking driver Limitations of uses: 2,600km/month, 26 days/month (the customer can arrange the schedule as per their request, including on Sunday or Holiday, except 1st Lunar New Year and Vietnamese National Day, without extra fee. Driver has 4 off days per month accordingly arrangement of customer). Working time from 08:00 to 18:00.Extra fees
US$ 2.00 per hour for after 18h00 everyday US$ 25.00 per day/100km for from 27th day of each month US$ 0.22/km for after 2,600km each month US$10 per night if the car has to stay in other province than Hanoi Hiring time: From 27 August 2007 to 26 February 2008, contract will be renewed at expiry date upon agreement from both parties. Toll and car parks: Paid by the party B Payment: Basic rental of US$ 900.00 is paid at beginning of contract Extra fee is paid by end of contract Payment is made in cash or bank transfer, in case of using Credit Card, the card transaction fee of 3.6% on total payment is paid by party BArticle 3: Responsibility of the party A
1. The party A will take responsibility to buy all kinds of following legal insurances.
- Responsible insurance for physical transportation insurances under the insurance regulations.
- Accident insurance for passengers in the car under the insurance regulations.
Any problem arising when occurring insurance circumstances related to the car, the passengers and the third party will be taken by the party A with cooperation, assistance and help for procedures of the party B in capacity.
2. The party A will take responsibility to supply the driver with professional driving skill, with suitable clothing, good and helpful manner, honesty, good moral and experiences with the above hiring car. If the driver is sick or unable to work in any case, Party A will send another driver to work immediately unless the customer allow for his absent
3. The driver of the party A will take note all served lines everyday including: the going time and returning time from when the party B gets on and gets off; take note number of kilometers of going and returning with the signature of the party B to make the basic for payment.
4. The party A takes responsibility to provide financial invoice to the party B in accordance with current regulations after a month for payment.
5. In case, there is any problem related to the car or the driver, the party A will immediately replace other similar car or the other driver for the party B.
6. The party A will arrange to change the driver within one week from the date required by the party B.
Article 4: Responsibility of the party B
The party B has no right to use the car in following cases:
Transporting goods but violating transportation regulations of the party A or be not allowed by the law. In the time of contract, if the party B would not use car for the whole time or a partial time, the party B must notify the party A ahead 30 days for being deducted suitably, if not, the party B must pay for the whole of money for hiring car as agreed.Article 7: Others
The present contract is additionally agreed that:
The agreed monthly price will not be readjusted during the effective time of the present contract in normal conditions. But in case the gasoline price goes up more than 5%, the rental contract will be reviewed by both parties All disputes arising between two parties during the effective time of the present contract will be resolved firstly through the negotiation, conciliation. If not, the dispute shall be referred to the economic count of Hanoi city, and the court00 decisions will be final binding on two parties. All acknowledgement of driver related to the car using and all payment documents between parties is an integral part of the contract.The present contract will come into effect since the signing date and be made into 02 copies, each party keep 01 copy
Date: 27 Aug 2007
Party A Party B PHAM TRUNG TIEN CHRIS YANG