Maximum Volume Guarantee Agreement

Important Notice

Guarantor shall carefully read content of this guarantee agreement, especially the content marked ▲▲. Please contact loaner for explanation if you have any question.  

Postal Code:                                                          Telephone: 33965188

Loaner: Bank of Communications Co., Ltd Huafu Branch

Representative: Li Canfu

Postal address: 1 ^st Floor West, Zhonghang Building, Futian District, Shenzhen

Whereas, Long-e Technology (Shenzhen) Co., Ltd (hereunder refers to “debtor”) dually signed the main contract (Contract no.): BCMS4433102008L100000000 , Name: Maximum Volume Guarantee Agreement . In order to realize the loan shall be continuously realized, guarantor agrees to offer the guarantee for maximum volume.

Both guarantor and Loaner come into an agreement to identify obligations and duties of both parties.

Ⅰ. Main Credit Claims

1.1 Guarantor offered guarantee services for total main loan which are main loan claims under main agreement, including all types of loan, import trade, import financing collecting, financing for import, export trade, collection for export financing, financing for export invoices, packing credit and other financing offered by loaner, or, bank acceptance bill, letter of credit or back letter( including standby letter of credit) made by loaner to have right on loan (including or having).

When main loan happened under main contract, loaner and debtor shall dually agreed on currency, amount, interest rate and time limit of debt performance for relevant loan principal in record of “Application for Credit Volume”.

1.2 Scope of guarantee shall include principal, interest, compound interest, penalty interest, liquidated damages, damage compensation, and expenses for loan realization under main contract. Expenses used for loan realization shall include and not limited to overdue fee, litigation fee (or arbitration fee), protection fee, notice fee, performance fee, legal fee, traveling fee or other expenses.

Maximum volume under guarantee by guarantor shall be (currency in capital): said RMB twenty millions only . Interest, expenses (if have) in scope of guarantee shall depend on reality.

1.3 Main credit relationship being guaranteed under agreement herein shall be identified on occurrence date of latest main credit relationship (refers to “identification date of main credit relationship”). Otherwise, the date of credit cancellation shall be the identification date of main credit relationship, if creditor cancelled credit volume depend on main contract.

Main credit relationship or interest (including compound interest and overdue or misappropriate penalty interest) which continuously maintained until the time that guarantors undertake the obligations before identification date of main credit relationship (including that very day), fees used to realize credit relationship of loaner ( by provision 1.2 of agreement herein) or other relevant expenses totally included in the scope of guarantee contract herein.

Occurrence of main credit relationship means actions that loaner offer loan, financing or make bank acceptance bill, letter of credit or back letter.

Ⅱ. Obligations and duties of guarantee

2.1 Guarantee under this agreement refers to guarantee with joint liability.

2.2 Guarantee period shall be calculated accordance to debt performance date recorded in “Application for Credit Volume” under main contract, if there are bank acceptance bill, letter of credit or back letter made, the date shall depend on advance date, same as follow). Guarantee period in each “Application for Credit Volume” shall start from expired date of debt performance date (or advance date) agreed in each Application for Credit Volume, until two years after the expired date of debt performance date (or advance date) agreed in each “Application for Credit Volume”.

“Application for Credit Volume” under main contract agreed that debtor may repay loan by installment. Guarantee period shall be calculated respectively, period shall start from expired date of debt performance date (or advance date) until two years after the expired date of debt performance date (or advance date).

If loaner announces the loan under main contract shall be expired in advance, the expired debt performance date shall be the announced expired date instead.

▲▲2.3 Pursuant to provision 5 in “Guarantee Law of People’s Republic of China”, both parties under this agreement have entered into agreement especially hereunder: guarantee contract herein has separate effect out of main contract. Relevant provision in main contract cease in effect will not have influence on guarantee contract hereto. Guarantor shall undertake joint liability for compensation obligations if the main contract ceased in effect.

▲▲2.4 Guarantor shall not make consent on amendment of content in main contract or “Application for Credit Volume”, otherwise, guarantee shall make consent on amendment on credit volume, credit period or expired date of main contract.

▲▲Ⅲ. Guarantor’s statement and guarantee