Unassociated Document



Exhibit 10.5


 


Agency Agreement







Date:1 January 2010







This Agreement is entered into between the parties concerned on the basis of equality and mutual benefit to develop business on terms and conditions mutually agreed upon as follows:







Article 1:  The Parties Concerned







Party A: ManLoong Bullion Company Limited


(hereinafter called “party A”)


Tel: (00852)2155 3999   Fax: (00852) 2155 2585 



Add: Room 1706,17/F, Tai Tung Building, 8 Fleming Road, Wanchai, Hong Kong




Website: www.manloong.com


 




  





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Party B: Mr. Wong Hak Yim (王克炎)


(hereinafter called “party B”)


Tel: (00852)6773 8010


Add:Unit 603, 6/F, Block E, Kornhill 13-15 Hong Shing Street, Quarry Bay Hong Kong







Article 2: Appointment







Party B act as counterparty with the following clients.







鉅成號


胡良利 (Woo Leung Lee)


嘉信金融服務 (Kaiser Financial Services)


金銀貿易埸 (The Chinese Gold & Silver Exchange Society)







Article 3: Price and Payment







The price for each individual transaction shall be fixed through negotiations between Party B and the buyer.









  





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Article 4: Agency Right







In consideration of the Agency rights granted herein, Party B can act as party A's representative to solicit order; Party A shall not, directly or indirectly, sell the commodity to customers that be listed by Party B. Party A undertake to give the newest price list and products information in time.







Article 5: Commission







1). Party B shall pay Party A commission on each transaction on mutual agree price.


2). If the selling/buying price is higher/lower than the quoted price of the market, Party B shall suffer all the loss/gain.







Article 6: Industrial Property Rights







Party B may use the trade-marks owned by Party A for the sale of the Inflatable Products covered herein within the validity of this agreement, and shall acknowledge that all patents, trademarks, copy rights or any other industrial property rights used or embodied in the Inflatable Products shall remain to be the sole properties of Party A. Should any infringement be found, Party B shall promptly notify and assist Party A to take steps to protect the latter's rights.


 




  





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Article 7: Validity of Agreement







This agreement, when duly signed by the both parties concerned, shall remain if force for 33 months from January,2010 to September,2012.







Article 8: Termination







During the validity of this agreement, if either of the two parties is found to have violated the stipulations herein, the other party has the right to terminate this agreement.


 




  





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Article 9: Arbitration







All disputes arising from the performance of this agreement shall be settled through friendly negotiation. Should no settlement be reached through negotiation, the case shall then be submitted for arbitration to the Hong Kong International Economic and Trade Arbitration Commission and the rules of this Commission shall be applied. The award of the arbitration shall be final and binding upon both parties.


 




	Mr. CHOI KEE YUEN	 	 	Mr. WONG HAK YIN	 
	Company Director	 	 	Shareholder	 
	 	 	 	 	 
	
/s/ Choi Kee Yuen

	 	 	
/s/ Wong Hak Yin

	 
	
Party A:

	 	 	
Party B:

	 
	
ManLoong Bullion Company Limited


1 January 2010

	 	 	
Wong Hak Yim (王克炎)


1 January 2010

	 





 


 

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