EXHIBIT
10.23
Strategic Cooperation
Agreement
(English
Summary)
Party A: China Construction Bank Shenzhen
Branch
Party B: China Security & Surveillance Technology,
Inc.
Under the principle of sincere
cooperation, equal and mutual benefit and common development, Party
A and Party B enter into the following Strategic Cooperation
Agreement through friendly negotiation:
Section 1.
Both Parties agree to establish
permanent and reliable strategic cooperation
partnership.
Party A regards Party B as a key
client and sufficiently supports its development, provided it is
permitted under state rules, regulations and financial policies,
Party A shall provide Party B with various financial service and
support in priority.
Party B regards Party A as an
important permanent cooperation partner and chooses Party A as the
main bank for its financial business.
Section 2.
Party A shall provide Party B with
excellent and efficient financial service in the following fields,
including but not limited to:
(1) Upon Party B’s request,
Party A hereby agree that it will grant Party B such credit
facility that is five to ten times of the guaranty amount which is
deposited in the account of Party A by Party B. To use such credit
facility, Party A shall investigate and evaluate Party’s
B’s specific investment project pursuant to “Law of
Commercial Banks,” “General Principles of Loans”
and Party A’s measures of loans and evaluations, and then
decide whether to extend credit facility upon the result of such
evaluation and status of such program.
(2) Upon Party A’s
authorization, to the extent that it satisfies Party A’s
credit policies, Party A shall provide Party B with service of
factoring and assist Party B in its financial management and
provide channels of financing.
(3) Provide financial services
tailored to Party’s B’s specific needs during Party
B’s internal reforming and merger or
restructuring.
Section 3.
Discussion and exploration of
business cooperation model.
(1) Party A pays close attention to
the rapid growing market of Chinese Security and Surveillance
industry and corresponding market opportunities as well as impetus
and market influence of Party B in this field, Party A desires to
support Party B to construct new business model in this field,
enlarge business influence and improve market shares.
(2) Party A desires to consider to
support Party B for the capitals required for Party B’s
expansion in the Chinese security and surveillance
market.
(3) When Party A’s conditions
regarding business model of Party B is satisfied, Party A hereby
agrees that it shall promptly review and approve Party B’s
loan application to ensure Part
