Exhibit 10.80





 


KGI Bank Co., Ltd.


 





	KGI Bank	CHINA DEVELOPMENT FINANCIAL


  


Letter of Credit
Terms & Conditions


 


Contract Nr.: KB1Nr. 107089


 


The contractor has applied for various business dealing with
the Bank, and has gain the approval. Hereto based on the terms and conditions of General Letter of Credit signed by the contractor
and the Bank on Oct. 26th, 2018, both parties agree to sign this “Letter of Credit Terms & Conditions”
(hereinafter, “ the Letter”). The agreed conditions are as followed:


 


§1 Credit Terms


 


		I.	The kinds and amounts of credit:



 


Short-termed (security) loan of USD$1,600,000
or equivalent foreign currency, utilized on a revolving basis.


 


		II.	Credit Rates



 


Except for negotiated on a term-by-term basis by
both parties, the interest rate shall be counted according to reference rate, plus 0.9% yearly interest rate. Tax plus.


 


The aforementioned “reference rate” refers
to:


 


		a.	the LIBOR Fixing Rate reported by Reuters on 1/2/3
monthly turn on the previous 1 business day, with every 1/2/3 month as a term of interest, updated once in a while.



		b.	If there are various agreed interest rate periods,
it is up to the contractor to choose the applied interest rate period and its corresponding interest period, and to be agreed
by the Bank as the principle. If the contractor has not chosen the should-be-applied interest rate period in the next interest
rate, the interest rate period of the last interest period is automatically applied. When the fixed interest rate is not attainable
on the base date, it is agreed to take the fixed interest rate of the 1 business day before the base date.



 


		III.	The Management Fee/ Handling Fee:



 




No.


 


		IV.	The Tenor:



 


Duration of Credit granted is a year commencing from the date
of the agreement.


 


Each period of financing shall not exceed 12 months.


 


		V.	Repayment:



 


Interest is paid monthly and the principal shall
be repaid upon maturity.


 


Except with the consent of the Bank:


 


		a.	If any of the credit amount applies to the agreement
of decrement and cancellation, the contractor shall pay off the credit balance off that exceeds the amount of decreased and cancelled
effective credit amount on amount decrement and cancellation date of each period.



		b.	The contractor shall pay off all the balance unpaid
under this item of credit on the due day of this credit period.



 


		VI.	Joint and Several Guarantor:



 




Law Insurance Broker Co. Ltd.


 






     


     


    

 


		VII.	The Security:



 


The contractor or the joint and several guarantor,
Law Insurance Broker Co. Ltd., shall provide and keep any one or several items of following collaterals according to the 100% amount
of this credit balance:


 


		a.	the contractor shall provide and keep foreign currency
time deposit, Demand deposit , or reserve account deposit of the Bank at the Bank’s pledge.



		b.	the joint and several guarantor, Law Insurance Broker
Co. Ltd., shall provide and keep foreign currency time deposit, NTD currency time deposit or reserve account deposit, or foreign
currency demand deposit or reserve account deposit of the Bank as the Bank’s pledge.



		c.	The contractor or the joint and several guarantor,
Law Insurance Broker Co. Ltd., shall provide and keep foreign currency bonds and structured goods and joint related interests
agree by the Bank as the Bank’s pledge.



 


		VIII.	Special Conditions:



 




		a.	When the contractor and the joint and several guarantor
provide NTD or foreign currency deposit of the Bank as the Bank’s pledge based on item 7th , the related financing
into several, guarantee retention rate and the other matters to be followed all should be processed according to especially signed
designated deposit financing consent.



		b.	When the contractor and the joint and several guarantor
provide foreign currency bonds and joint related interests as the Bank’s pledge based on item 7th, the related
financing into several, guarantee retention rate and the other matters to be followed all should be processed according to especially
signed bonds financing consent.



		c.	When the contractor and the joint and several guarantor
provide structured goods and joint related interests as the Bank’s pledge based on item 7th, the related financing
into several, guarantee retention rate and the other matters to be followed all should be processed according to especially signed
structured goods financing consent.



 


§2 Promissory note & Promissory note authorization


 


		I.	To guarantee the repayment of the debt under this credit
item, the contractor and the joint and several guarantor shall co-submit the promissory note unfilled of interest rate, due date,
and interest starting date according to the amount and form assigned by the Bank to be reserve by the Bank before the end of this
credit line. The Bank has the right (but not the obligation) to inform the contractor and the joint and several guarantor to substitute
with another promissory note according to this agreement within the tenor at least twice every two year or when the Bank deems
it necessary; once informed, the contractor and the joint and several guarantor are obligated to follow.



		II.	As for the promissory note reserved by the Bank, which
the contractor and the joint and several guarantor expressly and irretrievably authorized the Bank to, at times when the breach
of contract of the general letter of credit happen, the Bank can automatically fill in the interest rate(if multiple interest
rates are involved, the maximum interest rate shall prevail), due date and the interest starting date, and other things that should
be recorded for the effectively exercising and executing the note according to ROC’s Negotiable Instrument Act according
to the actual situation of the debt, and to exercise the right of the note. The contractor and the joint and several guarantor
recognize and agree that this authorization shall continue to be valid before the full repayment of all debt under this credit
item, and all the acts of the Bank under this authorization should have absolute power toward the contractor and the joint and
several guarantor.



		III.	The contractor and the joint and several guarantor agree
that the Bank take the promissory note signed, endorsed, and guaranteed by the contractor and the joint and several guarantor;
when the promissory note is not paid or prompted, the Bank is exempted from the legal procedures and obligations of making a rejection
certificate or to inform according to the §89 of Negotiable Instrument Act.



 


§3 Credit Tenor


 


The “Negotiable Instrument Act” in this letter refers
to the period from effective date of this letter to finishing date of the contractor and the joint and several guarantor repaying
the debt, including but not limited to the principle, interest, delayed interest, liquidated damages, guarantee fee, handling fee,
managing fee, compensation, collateral pricing fee, fees, fees of obtaining the cost of execution in accordance with the law, fees
of participation in the allocation, other fees included in exercising security rights (including lawyer fee), and penalty for damages
and the fulfillment of all the obligations that should be performed according to this letter, general letter of credit, joint guarantee
agreement, and other credit related contract documents.


 


§ 4 The validity and interpretation of the contract:


 


		I.	This letter takes effect after both parties finishing signing,
and stays in effect within the credit existing period.



		II.	This letter belongs to a part of general letter of appointment
and joint guarantee agreement. Except especially stated in this letter, the related rights and obligations of this credit shall
all follow the agreement of general letter of appointment and joint guarantee agreement.



		III.	The supplement and revision of this letter should become
binding only after both parties have signed supplementary contract.



		IV.	The titles of this letter are designed only for reading
convenience, and should not be used to explain the content of each provision.



 






     


     


    

 




		V.	Except especially stated in this letter, the term definitions
and explanation within general letter of appointment and joint guarantee agreement apply to this letter.



		VI.	For the avoidance of doubt, according to §1 of this
letter, the agreement about joint and several guarantor and joint guarantee agreement, and (or) collateral provider within this
credit without mentioning joint and several guarantor and joint guarantee agreement shall not be applied.



 


§5 Time for Reviewing


 


The contractor, the joint and several guarantor and collateral
provider hereto announce that they have reviewed all the provisions in this letter, and agree to engage in credit business with
the Bank according to the credit conditions of this letter.


 


§6 The Copies of this Letter


 


The letter is reserved as 1 copy by the Bank, the original (if
the contractor requested before signing the contract), or the 1 copy of shadow indicated as “Fully consistent with the original”,
are held by the contractor, and 1 copy is held the joint and several guarantor and collateral provider.


 


	KGI Bank	CHINA DEVELOPMENT FINANCIAL


 


Contractor:


Credit Bank: KGI Bank


Person in Charge: General Manager Jhang,Li-Cynan



 


	Person of Warranty Signature	 
	Date of Warranty	2018.10.26
	Location of Warranty 	5F., No.311, Sec. 3,

                                                                                Nanjing E. Rd.,

                                                                                Shongshan Dist.,Taipei

                                                                                City 10595, Taiwan



 


	Person of Warranty Signature	 
	Date of Warranty	2018.10.26
	Location of Warranty	Ibid.


 


Contractor & Co-invoicer: China United


Insurance Service, INC.


Yi Hsiao Mao, for and on behalf of China


United Insurance Service, INC.


Person in Charge: Yi
Hsiao Mao


(Personally signed and stamped) 


Profitable business unified
number:


USA7302



 


Joint and Several Guarantor & Co-


invoicer:
Law Insurance Broker Co. Ltd.


Person in Charge: Shu Fen Lee


(Personally
signed and stamped) 


Profitable business unified
number:


86300857