Content and procedure of contract drafting service - World Credit Organization

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ICE8000 Contract Credit Topics
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Content and procedure of contract drafting service

The following content is excerpted from: "ICE8000 International Credit Standard System Contract Drafting, Credit Evaluation and Supervision Standard"

2.1 Contents of contract drafting services:

(1) Based on the actual situation of the client, draft a draft contract with complete form and no obvious defects.

(2) If the client requests, participate in or host the draft contract review meeting attended by the client and related personnel to fully study the suitability of the draft contract.

(3) If the customer makes a request, participate in the contract negotiation and signing of the contract, so that the terms of the contract can be understood and accepted by the other party to the greatest extent.

2.2 Service procedures for contract drafting:

In the first step, the customer submits an application for drafting a contract, explains the relevant situation, and pays the service fee.

In the second step, the ICE8000 credit agency drafts the "Contract Draft Suggestion Draft", and after filing with the World Credit Organization [WCO], submit it to the customer for review. If requested by the client, ICE8000 Credit Agency can participate in or preside over the review meeting of the contract draft attended by the client and relevant personnel.

In the third step, if the two parties have different opinions, after communication and discussion, the ICE8000 credit agency will revise the draft contract according to the final opinion of the customer, and file it with the World Credit Organization [WCO] as the "Customer Decision Draft of the Contract Draft".

In the fourth step, the ICE8000 credit agency sends the draft contract together with the filing number and query password to the client. ICE8000 Credit Agency can negotiate and sign contracts if requested by the client.

2.3 Unless the customer expressly objects or is clearly out of fact, the draft contract should have the following clauses:

(1) Goods or service quality standards;

(2) The price of the goods or services;

(3) delivery time or service period;

(4) Delivery or service location;

(5) Delivery and inspection method (delivery certificate signature, inspection time);

(6) Payment method (cash, transfer, money order);

(7) Payment procedure (receipt, invoice issuance time, whether to issue an invoice before payment or after payment);

(8) Dispute handling and credit supervision clauses (ie: CS clauses).

2.4 If necessary and possible, the draft contract should include:

(1) Clarify the terms of the court of jurisdiction and applicable law;

(2) clearly indicate the clauses where the contract is signed;

(3) Clearly indicate the terms of ownership retention;

(4) Specify the terms of the security right.

2.5 ICE8000 credit institutions shall be responsible for the completeness and integrity of the "Contract Proposal Draft" drafted by them. However, since the "Contract Draft Client's Decision Draft" is determined by the final opinion of the client, ICE8000 Credit Agency cannot guarantee the completeness and integrity of the content of the draft, and will not be responsible for the final contract concluded based on the content of the draft.

2.6 The filing number and query password of the draft contract are for the purpose of supervising the diligence and due diligence of ICE8000 credit institutions, and do not indicate that the draft contract has passed the credit evaluation of ICE8000.

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