{"id":42663,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/payment-agent-contract-softbank-corp-of-japan-jitong.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"payment-agent-contract-softbank-corp-of-japan-jitong","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/operations\/payment-agent-contract-softbank-corp-of-japan-jitong.html","title":{"rendered":"Payment Agent Contract &#8211; Softbank Corp. of Japan, Jitong Communication Co. Ltd., UTStarcom Inc. and UTStarcom (China) Ltd."},"content":{"rendered":"<pre> \n                                PAYMENT AGENT CONTRACT\n\n\n       This contract is signed by the following four parties in Beijing on June\n11, 1998:\n\n       Party A:  Softbank Corporation of Japan\n\n       Party B:  Jitong Communication Co., Ltd.\n\n       Party  C: UT Starcom (formerly Unitech Telecom Inc. of the United States)\n\n       Party D:  UT Starcom (China) Ltd.\n\n       Whereas\n\n       1.     Party B shall entrust Party D to develop and construct an Internet\ninformation service project in China.\n\n       2.     Party C shall be the supplier of the main exported equipment\nneeded to develop and construct the Internet information service project of\nParty B.\n\n       3.     Party A shall provide financial support for the development and\nconstruction of the information service project.  The concrete means shall be to\nprovide major financial support for the export of the equipment of Party C.\n\n       In order to facilitate the development and construction of the\ninformation service project and ensure a smooth payment, all the parties have\nreached, through friendly negotiation, an agreement as follows:\n\n       1.     Party A shall provide Party C with a support fund of US$10 million\nas Party C's seller credit for the equipment Party C exports to Party D and as\nthe project construction fund.\n\n       2.     Party A shall designate Party B as the agent of payment of the\nsupport fund.\n\n       3.     Party D shall entrust Party B to take charge of the import of the\nequipment needed for the project.\n\n       4.     Provided Party B has received the support fund from Party A, Party\nB agrees to give direction of payment in accordance with the import order of\nequipment submitted by Party D and arrange for the payment of support fund to\nParty C.  In addition, Party B shall report the payment of the support fund to\nParty D so that the latter can know about and supervise the use of the said\nfund.\n\n       5.     All the parties agree that the Contract on the Joint Establishment\nof an Internet Service Network concluded by Parties A, B and C on October 16,\n1995 shall be terminated on the date when this contract is concluded, and shall\nbe replaced by the Information Service Project \n\n\n\n\n\nContract, the Internet Information Service Project Service Contract and this \ncontract concluded by Parties B and D on June 11, 1998.\n\n       6.     Any differences and disputes arising in the process of the\nconstruction and development of the project shall be settled by both parties\nthrough consultations.  Should this do not work, the disputes shall be submitted\nto the Beijing-based China International Economic and Trade Arbitration\nCommission for arbitration in accordance with its regulations in Beijing.  The\naward shall be final and binding for both parties.  The loser in the arbitration\nshall bear the expenses incurred therein.\n\n\n                                      -2-\n\n\n\n\n\n\nParty A: Softbank Co., Ltd. of Japan\n\nLegal representative: \/s\/ signature\n\nParty B: Jitong Communication Co., Ltd.\n\nLegal representative:  \/s\/ Qi Mingqiu\n\nParty C:  UT Starcom Inc. (formerly Unitech Telecom Inc. of the United States)\n\nLegal representative: \/s\/ signature\n\nParty D:  UT Starcom (China) Ltd.\n\nLegal representative:  \/s\/ signature\n\nDate:  June 11, 1998\n\n\n                                      -3-\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9205],"corporate_contracts_industries":[9516],"corporate_contracts_types":[9613,9620],"class_list":["post-42663","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-utstarcom-inc","corporate_contracts_industries-telecommunications__equipment","corporate_contracts_types-operations","corporate_contracts_types-operations__services"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/42663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=42663"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=42663"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=42663"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=42663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}