保理融資合同英文版

RPAv.1901

RECEIVABLESPURCHASEAGREEMENT

NON-RECOURSE

ThisDeedismadeonthedatesetoutinSchedule1,part1.

Between:

(1)

VelotradeManagementLimited,aprivatecompanylimitedbysharesincorporatedinHongKongwithCompaniesRegistrynumber2277454(“Velotrade”);and

(2)

ThebusinessentitythathastheparticularssetoutinSchedule1,part2(the"Seller").

Recitals:

(A)

TheSellerownsReceivablesfromtransactionswithDebtorsunderSupplyContracts.

(B)

TheSellerwishestosellTradeDebtstoVelotradeasapprovedbyVelotradeunderthisDeed.

NowthisDeedwitnessesasfollows:

1.

Definitionsandinterpretation

1.1

DefinedtermsinthisDeedhavethemeaninggiventotheminSchedule2,part1,unlessthecontextrequiresotherwise.

1.2

WordsandexpressionsusedinthisDeedhavethemeaninggiventotheminSchedule2,part2,unlessthecontextrequiresotherwise.

1.3

ThisDeedwillbeinterpretedinaccordancewiththeaidstointerpretationsetoutinSchedule2,part3,unlessthecontextrequiresotherwise.

2.

SaleofTradeDebt

2.1

AnysaleofApprovedTradeDebtbytheSellertoVelotrademustcomplywiththisClause2.

AuctionRequest

2.2

(a)TheSellermayrequestVelotradetopurchaseTradeDebtbyuploadingtothePlatforma

completedandsignedAuctionRequest.

(b)TheSellermustincludeandattachwiththeAuctionRequest:

(i)acopyofthecorrespondingInvoice;

(ii)acopyofthecorrespondingTradeDocuments;and

(iii)suchotherdocumentsandinformationasVelotrademayrequest(ifany),allofwhichwillbedeemedtobeincorporatedintoandbepartoftheAuctionRequest.

(c)VelotradewillprocesstheAuctionRequestuponuploadingtheAuctionRequesttothePlatformbytheSeller.

ThesubmissionbytheSelleroftheAuctionRequestconstitutes:

anirrevocableofferbytheSellertosellthecorrespondingTradeDebttoVelotrade;and

anirrevocableundertakingbytheSellerthat,subjectonlytodeliveryofanAuction

AcceptancebyVelotradeandcompliancewithanyconditionsstatedinthatAuctionAcceptance,onthedateoftheAuctionAcceptance,theSeller,asbeneficialowner,willsellandassignandagreetoassignabsolutelytoVelotradeallitsrights,titleandinterestinandtotheTradeDebt.

AuctionAcceptance

(a)VelotrademayprocessanyAuctionRequestinitssolediscretion.AnyTradeDebtoffered

underanAuctionRequestthatisapprovedbyVelotradewillbeconsideredanApprovedTradeDebtforthepurposeofthisDeed.

VelotradewillnotifytheSellerinwritingonorbeforethePurchaseDateinrespectofApprovedTradeDebtbydeliveringanAuctionAcceptancetotheSellerviathePlatform.

DeliveryoftheAuctionAcceptanceconstitutesthecontractualobligationoftheSellerto

sellandpurchasetheApprovedTradeDebtinaccordancewiththeAgreementandthetermsoftheAuctionAcceptance.

(d)VelotrademayterminatethecontractformedbydeliveryoftheAuctionAcceptanceatanytimepriortothePurchaseDateiftheSellermateriallybreachesthetermsofthisAgreementortheAuctionAcceptance.

Completion

OnandwitheffectfromtheAuctionAcceptance,withoutanyfurtheractorstepbyeitherVelotradeortheSeller:

theundertakingtosellandassigntheApprovedTradeDebtgivenbytheSellerintheAuctionRequestwillbecomeimmediatelyandautomaticallyeffective;

theSellerwillbedeemed,asbeneficialowner,tohavesold,assignedandagreedtoassignabsolutelytoVelotradeallitsrights,titleandinterestinandtotheApprovedTradeDebt;and

alltheSeller'sright,titleandinterestinandtotheApprovedTradeDebt(includingallrightsandremediesoftheSelleragainsttheDebtor)willimmediatelyvestinVelotrade.

VelotradedoesnothaveanyrighttorequiretheSellertorepurchaseanyPurchasedTradeDebts,

exceptinaccordancewithClause8.

ThePurchasePrice

SubjecttotheperfectionofassignmentpursuanttoClause4,thePurchasePriceofApprovedTradeDebtsshallbepayablebyVelotradeonorbeforethedateorperiodsetoutinSchedule4.Velotrademay,initsdiscretion,electtopaythePurchasePriceininstalments.InstalmentsofthePurchasePricemaybepaidatsuchtimeafterthePurchaseDateandinsuchamountasVelotrademaydecideatitsdiscretion.

ThePurchasePriceofApprovedTradeDebtswillbecalculatedinaccordancewithSchedule4.

FeesandchargespayableinrespectofPurchasedTradeDebtswillbecalculatedinaccordance

withClause9andSchedule4.

PerfectionofAssignment

VelotradewilldeliveranAssignmentNoticetotheDebtoronthePurchaseDate.

TheSellershallatitsowncostexecuteanydocumentandperformallactsasVelotradedirectsto

perfecttheassignmentofPurchasedTradeDebtstoVelotrade,andtoprocureDebtorstoprovideacknowledgementtotheAssignmentNotice.

TheSellershallholdintrustforVelotradeandseparatelyfromtheSeller'sownpropertyanyPurchasedTradeDebtsincircumstanceswhereownershipofthePurchasedTradeDebtwasnottransferredfullyandeffectivelytoVelotrade.

Collection

(a)Velotrademayasitconsidersappropriateinitssolediscretion:

(i)enforcepaymentofandcollectanyPurchasedTradeDebts;or

(ii)institute,defendorcompromiseproceedingsinrespectofanyPurchasedTradeDebts.

VelotrademayusetheSeller'snameinanysuchenforcement,collectionorproceedings.

TheSellerwillcomplyandco-operatepromptlyandtothefullestextentpracticable,atthesolecostoftheSeller,inanysuchenforcement,collectionorproceedings,includingbytheproductionofdocumentsandthegivingofevidence.

TheSellershallatitsowncostexecuteanydocument,endorseallinstruments,andperformallactsasVelotradedirectstoenforcepaymentoforcollectanyPurchasedTradeDebts.

TheSellerwillensurethateachInvoiceinrespectofaPurchasedTradeDebtbearsaprominent

andlegiblenoticeindicatingthatthePurchasedTradeDebthasbeenpurchasedbyVelotradeandispayableonlytoVelotrade.TheSellerauthorisesVelotradetoapplythenoticeunderthisClause

toanyInvoiceinitspossessiontobeissuedbyVelotradeinrespectofaPurchasedTradeDebt.

(a)TheSellerwilldelivertoVelotradepromptlyuponitsreceipttoVelotradealltheidentical

monies,chequesandotherinstrumentsofpaymentreceivedbytheSellerinoronaccountofpaymentofanyPurchasedTradeDebts.

(b)IfVelotradedirects,theSellerwillpromptlypay,remitordeliverallsuchmonies,chequesandotherinstrumentsofpaymenttosuchbankaccountasVelotrademaydirectinwriting,andwillholdallsuchmonies,chequesandotherinstrumentsofpaymentintrustforandtotheorderofVelotrade.

(a)TheSellershallgiveimmediateinstructionstoanybankerorotherpersonwithwhomthe

SellermaintainsanaccounttopaytoVelotradeordirecttoVelotrade'sbankerstheproceedsofanybankcredittransferrelatingtoanyPurchasedTradeDebtswhichisreceivedintheSeller'saccount.

(b)TheSellershallgiveVelotrade'sbankerssuchdocuments,informationandinstructionsastheymayrequireorrequesttocollectchequesmadepayabletotheSellerinrespectofPurchasedTradeDebtswhicharenottransferable.

Warrantiesandundertakings

TheSellerrepresentsandwarrantstoVelotradeinthetermssetoutinSchedule3,part1.

EachoftherepresentationsandwarrantiesgivenunderClause6.1willbecorrectinallrespects

andnotmisleadinginanyrespectonthedateofAuctionAcceptance.

TheSellerundertakestoVelotradeinthetermssetoutinSchedule3,part2

EventofDefault

OnoratanytimeaftertheoccurrenceofanyofeventssetoutinSchedule3,part3,Velotrade

maydeclarethatanEventofDefaulthasoccurredbygivingnoticeinwritingtotheSeller.

VelotrademaydeclarethatanEventofDefaulthasoccurredunderClause7.1ifVelotradereasonablybelievesthatanyeventlistedinSchedule3,part3islikelytooccuroristhreatened.

(a)UpontheoccurrenceofanEventofDefault,Velotrademay:

(i)immediatelyterminatethisDeedbygivingwrittennoticetotheSeller;and

(ii)(ifthecircumstancesinClause8.1apply)giveaRepurchaseNoticetotheSellerin

respectofanyPurchasedTradeDebts.

(b)AnyterminationofthisDeedshallbewithoutprejudicetoanyotherrightsofVelotradeandshallnotdischargeanyliabilityoftheSellertoVelotradewithrespectofallPurchasedTradeDebtspurchasedbyVelotradepriortothedateoftermination.

TheSellershallondemandindemnifyVelotradeagainstanycostsorclaimssustainedorincurredbyVelotradeasaresultoftheoccurrenceofanEventofDefault.

Repurchaseobligations

VelotradewillusereasonableendeavourstorecoverDefaultAmountsbymakingclaimsunderits

InsurancePolicies.IfclaimsunderitsInsurancePoliciesarerejectedbyinsurerssuchthatDefaultAmountsarenotrecoverable(whetherfullyorinpart)undertheInsurancePolicies,thenVelotrademaygiveaRepurchaseNoticetotheSellerinrespectofthosePurchasedTradeDebts.

AnyPurchasedTradeDebtthatisthesubjectofaRepurchaseNoticewillbeconsideredaRepurchasedTradeDebtforthepurposeofthisDeed.

DeliveryoftheRepurchaseNoticebyVelotradeconstitutestheabsolutesaleandassignment,effectiveimmediately,byVelotrade,asbeneficialowner,totheSellerofallitsrights,titleand

interestinandtotherelevantRepurchasedTradeDebt,subjectonlytopaymentoftheRepurchasePriceunderClauses8.7or8.8.

DeliveryofaRepurchaseNoticewillbedeemedtooccuronthedeliverytotheSellerviathePlatformoftheRepurchaseNotice.

UponcompletionofthesaleandpurchaseofaRepurchasedTradeDebt,Velotradewilldeliverto

theDebtoraReassignmentNotice.

TheSellershallatitsowncostexecuteanydocumentandperformallactsasVelotradedirectsto

perfectthesaleandassignmentofRepurchasedTradeDebtstotheSeller,and(ifrequiredbyVelotrade)toprocureDebtorstoprovideacknowledgementtotheReassignmentNotice.

TheRepurchasePricepayablebytheSellerforRepurchasedTradeDebtswillbethesumof:

theportionoftheoriginalPurchasePriceofthoseRepurchasedReceivablespaidtotheSellerbyVelotrade(butafterallowingforanyamountsactuallyreceivedinpaymentofthoseRepurchasedReceivableswhetherfromtheDebtororanyotherthirdparty);

theDiscountChargeinrespectofthoseRepurchasedReceivables;

outstandingaccruedDefaultChargesinrespectofthoseRepurchasedReceivables;and

thecostsincurredbyVelotradeinrespectoftheRepurchasedTradeDebts(includingcostsofcollection).

VelotradeshallremaintheownerofRepurchasedTradeDebtsuntiltheRepurchasePricehasbeenfullydischargedbytheSeller.

TheSellerirrevocablyagreesandconfirmsthesaleandpurchaseofaRepurchasedTradeDebt,

anditsobligationstopaytheRepurchasePrice,underthisClause8,withouttherequirementforanyacknowledgementorconfirmationatthetimeofanysuchtransaction.

Fees

(a)TheSellershallpaytheProcessingFeetoVelotradeinrespectofeachPurchasedReceivable.

(b)TheProcessingFeeispayablesimultaneouslywiththepaymentofthePurchasePrice(oranyinstalmentofthePurchasePrice).

TheSellershallpaytheDiscountCharge(calculatedasanintegralpartofthePurchasePrice)to

VelotradeinrespectofeachPurchasedReceivable.

(a)TheSellershallpaytheDefaultChargetoVelotradeinrespectofDefaultAmounts.

(b)AccruedDefaultChargesarepayableattheendofeachcalendarmonthinrespectofDefaultAmounts.

(a)Velotrademayamenditsfeesfromtimetotimeatitssolediscretion.

(b)VelotradewillnotifytheSellerinwritingofanychangetoitsfees.

(c)AmendedProcessingFeeswillapplyonthelatertooccurofthenextdateofpaymentof

thePurchasePriceforPurchasedTradeDebts,orthefirstdayofthecalendarmonthafterthenoticeofchangetotheProcessingFee.

AmendedDefaultChargeswillapplyonandfromthelastdayofthecalendarmonthafterthenoticeofchangetotheDefaultCharge.

FeesarenotrefundableintheeventofcessationorterminationofthisDeed.

TheSellerauthorisesVelotradetodeducttheProcessingFeefromthePurchasePriceforanyApprovedTradeDebt.

Allfeesarepayableinfull,withoutdeductionandinclearedfunds.

Administration

VelotradewillmaintainaSellerLedgerAccounttorecordalltransactionsbetweenVelotradeandtheSeller,includingdetailsof:

(a)allpaymentsreceivedorreceivablebyVelotradeinrespectofPurchasedTradeDebtsorRepurchasedTradeDebts,orfromtheSellerorbyreasonofrecoveryinrespectofRelatedRights(whichwillbedebitedtotheSellerLedgerAccount);and

(b)allpaymentsdueorpaidbyVelotradetotheSellerinrespectofPurchasedTradeDebts.

TheSellerLedgerAccountwillbemadeavailabletotheSellerviathePlatform.

Intheabsenceofanymanifesterrororanyerrorinlaw,thedetailsoftheSellerLedgerAccountwillbedeemedtobecorrectandbindingontheSellerexceptforanyerrornotifiedbytheSellerwithintenBusinessDaysofthatentrybeingavailableviathePlatform.

VelotrademaysetoffagainstamountsowingbyVelotradetotheSeller:

(a)anycostsduebytheSellertoVelotrade;and

(b)anyclaimsofVelotradeagainsttheSeller.

PowerofAttorney

BywayofsecurityfortheperformanceofitsobligationsunderthisDeed,theSellerherebyirrevocablyappointsVelotrade,itsdirectorsorotherofficersjointlyandseverallytobethelawfulattorneyoftheSellertodoanyandallactsVelotradeconsidersnecessaryordesirabletofullyandeffectivelyperformthisDeedorforthepurposeofgivingeffecttothetransactionscontemplatedbythisDeed,including:

(a)tocomplete,executeanddeliveranydocuments,andtoperformallacts,necessaryordesirableinrespectoftheassignmentorreassignmentofApprovedTradeDebtswhicharerequiredtobeassignedorreassignedunderthisDeed;

(b)toenforceallrightsoftheSellerunderandpursuanttoanyunderlyingtransactionsorcontractsinrespectofanyunpaidInvoiceorundischargedApprovedTradeDebtasmaybenecessaryordesirabletocarryoutthetermsandconditionsofthisDeed;and

(c)resolvedisputeswiththeDebtorsandcompleteanyunderlyingtransactionsorcontracts

inrespectofanyunpaidInvoiceorundischargedApprovedTradeDebt.

VelotrademaydelegatetooneormorepersonsalloranyofthepowersreferredtointhisClause11onsuchtermsasitthinksfitandmayrevokeorvarysuchdelegationatanytime.

11.3

11.4

12.

12.1

12.2

13.

13.1

13.2

13.3

13.4

13.5

TheSellerundertakestoratifyandconfirmeverythingwhichVelotradedoesorpurportstodobyvirtueofthepowersgrantedbythisClause11.

TheSellerwillindemnifyVelotradeandkeepVelotradeindemnifiedagainstallcostsorclaimsarisingfromthelawfulexerciseofpowersorauthoritiesgrantedbythisClause11.

Term

ThisDeediseffectiveonandfromthedateofthisDeeduntil:

(a)eitherpartygivestotheotheratleastonemonth'spriorwrittennoticetoterminatethisDeed;or

(b)itisterminatedinaccordancewithitsterms.

NotwithstandingtheterminationofthisDeed,theSeller'sobligationsunderthisDeedcontinueuntilallamountsinrespectofthePurchasedTradeDebtsarefullypaidbytheDebtorsortheSeller(asthecasemaybe).

Notices

AnywrittennoticetobegivenbyapartyunderthisDeedmustbeinwritingintheEnglishlanguageinpermanentwrittenform.

Anydemand,noticeorotherdocumentsmaybeservedbyhanddelivery,sentbyregisteredpostorbycourierservice,orsentbyelectronicmail.

Eachdemand,noticeorotherdocumenttobemadeonordeliveredtoanypartytothisDeedmaybemadeordeliveredtothatotherpersonatitsregisteredofficeorattheaddressandnoticedetailsforeachpartysetoutinSchedule1,part3.

EachpartymayvaryhisnoticeaddressforthisClause13bygivingatleasttenBusinessDays'priorwrittennoticetotheotherpartieswiththefulldetailsofhisnewnoticeaddressandtheeffectivedateofthatvariation.

Anydemand,noticeordocumentwillbedeemedserved:

(a)ifhanddelivered,atthetimeofdelivery;

(b)ifposted,at10.00a.m.ontheBusinessDaynextfollowingthedayonwhichitwasposted

or,inthecaseofservicetoorfromanaddressoutsideHongKong,at10.00amonthe

seventhBusinessDayfollowingthedayonwhichitwasposted;or

(c)ifsentbyelectronicmail,onthedayandtimewhentherecipientofthedemand,noticeor

documentacknowledgesreceiptinwriting.

13.6Inprovingserviceofademand,noticeordocumentitissufficienttoprove,asthecasemaybe,that:

(a)deliverywasmade;

(b)theenvelopecontainingthedemand,noticeordocumentwasproperlyaddressedandpostedasaregisteredletter,orsentbycourierservice;or

anelectronicreadreceiptwasreceivedbythesenderoftheemailcontainingthedemand,

noticeordocument.

ForthepurposeofClauses13.5(c)and13.6(c),anyelectronicmailsenttothespecifiedemailaddressoftheSellerisdeemedtobereceivedbytheSelleratthetimeitwassent.

Alldemands,noticesanddocumentsmustbeintheEnglishlanguage.

Eachpartyconsentstotheuseoftheelectronicsignatureoftheotherpartyinanydemand,noticeorotherdocumentservedordeliveredbytheotherpartyinconnectionwiththisAgreement,andthatanydemand,noticeorotherdocumentusingtheelectronicsignatureofeitherpartywillbeconsideredanauthenticandvaliddocumentofthatpartyforthepurposeofthisAgreement.

Set-off

VelotrademayatanytimewithoutnoticetotheSellersetoffanyliabilityoftheSellertoVelotradeagainstanyliabilityofVelotradetotheSeller(ineithercasehowsoeverarisingandwhetheranysuchliabilityispresentorfuture,liquidatedandirrespectiveofthecurrencyofitsdenomination).

ForthepurposesofexercisinganyrightsunderClause14,oranyrightsunderthegenerallaw,VelotrademayconvertortranslatealloranypartofsuchliabilitiesintoanothercurrencyapplyingaratewhichinVelotrade'sopinionfairlyreflectstherelativeprevailingratesofexchange.

VelotradeisnotobligedtoexerciseanyofitsrightsunderthisClause,whichshallbewithoutprejudiceandinadditiontoanyrightsunderthegenerallaw.

InthisClause,"rightsunderthegenerallaw"meansanyrightsofset-off,lienorsimilarrightwhichVelotradehasunderanyapplicablelaw.

Currency

TheSellerwillprocureatalltimesthattheSellerPaymentAccountisamulticurrencybankaccountinwhichVelotrademaymakepaymentstotheSellerinthesamecurrencyasthecurrencyoftheInvoice.

Velotrademaychargeforanylossesincurredonforeigncurrencydisbursementsasaresultofchangesintheexchangeratesbetweenthedateonwhichfeesarecharged,andthedateofpaymentofthosefees.

AnyamountreceivedorrecoveredbyVelotradeinrespectofanysumexpressedtobeduetoitfromtheSellerortheDebtorunderthisDeedinacurrencyotherthanthecurrency(the“contractualcurrency”)inwhichsuchsumissoexpressedtobeduewillonlyconstituteadischargetotheSellertotheextentoftheamountofthecontractualcurrencythatVelotradeisabletopurchasewiththeamountofthecurrencysoreceivedorrecoveredonthedateofreceiptofrecovery(or,iflater,thefirstBusinessDayonwhichsuchpurchaseispracticable).Iftheamountofthecontractualcurrencysopurchasedislessthantheamountofthecontractualcurrencysoexpressedtobedue,thentheSellerwillindemnifyVelotradeagainstanylosssustainedbyitasaresult,includingthecostofmakinganysuchpurchase.

GeneralProvisions

AmendmentsandWaiver:NovariationofthisDeedoranydocumentintheagreedformwillbevalidunlessitisinwritingandsignedbyoronbehalfofbothparties.NowaiverofanyobligationofapartyunderthisDeedwillbevalidunlessitisinwritingandsignedbyoronbehalfoftheotherparty.

Counterparts:ThisDeedmaybeexecutedincounterpart,andwhenallsuchcounterpartshavebeenexecuted,eachshallconstituteoneandthesamedocument,andinmakingproofofthisDeed,itwillnotbenecessarytoproveoraccountformorethanonesuchcounterpart.Notwithstandingthedateofexecutionofanycounterpart,thisDeedwillbedeemedtohavebeenexecutedonthedateoftheDeed.

Execution:Forthepurposeofexecution,copysignaturesinapdforfaxedcopyoftheexecutionclausesinthisDeedwillbeacceptableandreadorconstruedtogetherasiftheyformedoneoriginallyexecuteddocument.Eachpartythatprovidesacopysignatureforexecutionpurposesunderthisclause16.3willprocurethatoriginalexecutionclausesofthisDeedofthatpartyarecirculatedandexchangedtotheotherpartyinsuchnumberassuchotherpartymayrequirenolaterthan15BusinessDaysafterexecutionofthisDeed.

Severance:IfanyoftheprovisionsinthisDeedisheldtobeillegalorunenforceableinwholeorinpartunderanyapplicablelaw,theprovisioninquestionwill,tothatextent,bedeemednottoformpartofthisDeedorwillapplywithsuchdeletionsormodificationsasmaybenecessarytomakeitlegalandenforceable,andtheenforceabilityoftheremainderofthisDeedwillnotbeaffected.

Preservationofrights:Nofailuretoexerciseordelayinexercisinganyrightorremedyunderthis

Deedwillconstituteawaiverofthatrightorremedy.Nowaiverbyanypartyofanybreachor

non-fulfilmentbytheotherpartyofanyprovisionofthisDeedwillbedeemedtobeawaiverofanysubsequentorotherbreachofthatoranyotherprovisionofthisDeed.NosingleorpartialexerciseofanyrightorremedyunderthisDeedprecludesorrestrictsthefurtherexerciseofanysuchrightorremedy.

Costs:Eachpartywillbearandpayitsowncostsandexpensesforthepreparation,negotiationandimplementationofthisDeed.

Assignment:ThebenefitoftherightsgrantedtotheSellerbythisDeedispersonaltotheSeller.TheSellerwillnotassign,transfer,chargeordealinanyothermannerwiththisDeednoranyrightsorobligationsunderitorpurporttodoanyofthesame,norsub-contractanyofitsobligationsunderthisDeedtoanythirdparty,ordeclareanytrustinrespectofthisDeedoranyofitsobligationsunderitinfavourofanythirdparty,unlessthepriorwrittenconsentofVelotradehasbeenobtained.ThisDeedandtherightsandobligationshereunderarefreelyassignablebyVelotrade,andVelotrademaysub-contractitsobligationsunderthisDeedatitsdiscretion.

Successors:ThisDeedwillbebindingonandenureforthebenefitofeachparty'ssuccessorsandpermittedassigns.

Thirdpartyrights:NooneotherthanapartytothisDeedshallhaveanyrighttoenforceanyofthetermsinthisDeedagainstanotherpartytothisDeed.

Communication:VelotradeshallbeentitledtorelyuponanyactdoneoranyletterordocumentsignedoranycommunicationsenttoVelotradebyfacsimileorbye-mailbyanypersonpurportingtoactorsignorsendontheSeller'sbehalfdespiteanydefectinorabsenceofanyactualauthorityofsuchperson.

Lawandarbitration

ThisDeedisgovernedbyandwillbeconstruedinaccordancewithHongKonglaw.

Anydispute,controversyorclaimarisingoutoforrelatingtothisDeed,orthebreach,terminationofthisDeed,shallbesettledbyarbitrationinaccordancewiththeUNCITRALArbitrationRulesasatpresentinforceandasmaybeamendedbytherestofthisclause.TheappointingauthorityshallbeHongKongInternationalArbitrationCentre.TheplaceofarbitrationshallbeinHongKongatHongKongInternationalArbitrationCentre(HKIAC).Thereshallonlybeonearbitrator.ThelanguagetobeusedinthearbitrationproceedingsshallbeEnglish.Anydecisionorawardofthearbitraltribunalwillbefinalandbindinguponthepartiestothearbitrationproceedings.

InwitnesswhereofthepartiesortheirdulyauthorisedrepresentativeshaveexecutedthisDeedonthefirstdatewrittenabove.

RPAv.1901

Schedule1:Particularterms

Part1:

Part2:

Part3:NoticeDetails

Velotrade:

Company

Address

VelotradeManagementLimited

Room24,units405-414,Level4,CoreE,Cyberport3,100

CyberportRoad,HongKong

Attention

E-mail

TheBoardofDirectors

sales@

TheSeller:

Company

[insertdetails]

Address

[insertdetails]

Attention

[insertdetails]

Email

[insertdetails]

Part4:

SellerPaymentAccount

Bankname:

[insertdetails]

Accounttype:

[insertdetails]

Accountnumber:

[insertdetails]

SWIFT:

[insertdetails]

Part5:

ProcessingFee(PF%)

tobespecifiedintheAuctionRequest.

Part6:

DiscountCharge(DC$)

tobespecifiedintheAuctionRequest.

Part7:

DefaultCharge

tobespecifiedintheAuctionRequest.

Initials:

RPAv.1901

Schedule2:Interpretation

Part1：DefinedTerms

InthisDeed,thedefinedtermsbelow(exceptwherethecontextrequiresotherwise)havethemeaninggiventotheminthisSchedule：

"ApprovedTradeDebt"

anyTradeDebtapprovedbyVelotradeunderClause2.3;

"AssignmentNotice"

anoticeofassignmentinsubstantiallytheformsetoutinSchedule6,part1executedanddeliveredbytheSellertotheDebtorpursuanttoClause4.1(a);

"Associate"

anyofthefollowing:

(a)anyshareholder,directororemployee;

(b)anycompanythatisdirectlyorindirectlyaholdingorsubsidiarycompany;

(c)anycompanydirectlyorindirectlyunderthesamedirectororshareholdercontrol;

"AuctionAcceptance"

awrittennoticeinsubstantiallytheformsetoutinSchedule5,part2,deliveredbytheVelotradetotheSellerviathePlatforminaccordancewithClause2.4;

"AuctionRequest"

awrittennoticeinsubstantiallytheformsetoutinSchedule5,part1,deliveredbytheSellertoVelotradeviathePlatforminaccordancewithClause2.2;

"BusinessDay"

anydayonwhichthecommercialbanksarenormallyopenforbusinessinHongKong;

"Debtor"

anpersonwhohasincurredormayincuranobligationtotheSellerunderaSupplyContract;

"DefaultAmounts"

amountsdueinrespectofInvoicesthatVelotradehasnotrecoveredonorbeforetheInvoiceDueDate(whetherbydefaultorinsolvencyoftheDebtororotherwise);

“DefaultCharge”

chargespayablebytheSellertoVelotradeinrespectofDefaultAmounts,calculatedinaccordancewithClause9.3andSchedule4;

"DiscountCharge"

chargespayablebytheSellertoVelotradeinrespectof

RPAv.1901

RPAv.1901

PurchasedTradeDebts,calculatedinaccordancewithClause9.2andSchedule4;

"EventofDefault"

anyoneoftheeventsorcircumstancesmentionedinClause7.1andsetoutinSchedule3,part3;

"Goods"

anygoodsorservicesthesubjectofanInvoice;

"HongKong"

theHongKongSpecialAdministrativeRegionofthePeople'sRepublicofChina;

"InsurancePolicies"

anyinsuranceinrespectofanyPurchasedTradeDebtsnamingVelotradeasaninsuredintheformandsubstancefromtimetotimeapprovedbyVelotrade;

"Invoice"

thetradedocumentissuedbytheSellertotheDebtorevidencingtheTradeDebt;

"InvoiceDueDate"

thedatebywhich,orperiodwithinwhich,aPurchasedTradeDebtmustbepaidbytheDebtorinaccordancewiththetermsofthecorrespondingInvoiceorSupplyContract;

"Platform"

thehardware,operatingsystem,enterpriseinfrastructuresoftwareandapplicationsoftwarethatcomprisetheservicedeliveryplatformoperatedbyVelotrade;

"ProcessingFee"

theprocessingfeepayablebytheSellertoVelotradeinrespectofeachPurchasedReceivable;

"PurchaseDate"

thedateonwhichthesaleandpurchaseofanApprovedTradeDebtoccurs,beingthedatespecifiedintheAuctionAcceptance;

"PurchasePrice"

thepricepayablebyVelotradeforanApprovedTradeDebt;

"PurchasedTradeDebt"

anApprovedTradeDebtpurchasedbyVelotradefromtheSellerinaccordancewiththetermsofthisDeed;

"ReassignmentNotice"

anoticeofreassignmentinsubstantiallytheformsetoutinSchedule6,part2executedanddeliveredbytheSellertotheDebtorpursuanttoClause8.5;

"Receivables"

thecumulativeamountofallobligationsorindebtedness,includinganytaxordutypayable,incurredbyaDebtorunderaSupplyContracttogetherwithanyRelatedRightspertainingtosuchobligationsorindebtedness;

"RelatedRights"

inrespectofanyPurchasedTradeDebtallofthefollowing:

(a)

alltheSeller'srightsundertheSupplyContractotherthantherightstoanyGoods;

(b)

thebenefitofallguarantees,indemnities,insurancesandsecuritiesgiventoorheldbytheSeller;

(c)

allcheques,billsofexchangeandotherinstrumentsheldbyoravailabletotheSeller;

(d)

therighttopossessionofallledgers,computerdatarecordsanddocumentsonorbywhichanyReceivableisrecordedorevidenced;

(e)

therighttopossessionofallledgers,computerdatarecordsanddocumentsonorbywhichanyReceivableisrecordedorevidenced;

(f)

anyGoodsthesubjectofaSupplyContractreturnedorrejectedbytheDebtororrepossessedbytheSeller;

(g)

Velotrade'srighttoanyotherGoodsunderClause4.3;

(h)

anyinteresttowhichtheSellerbecomesentitledinrelationtotheReceivableasaresultofanystatutoryenactmentoranyruleorregulationofgovernment;

"RepurchaseNotice"

anoticeofrepurchaseinsubstantiallytheformsetoutinSchedule7,VelotrademaydelivertotheSellerpursuanttoClause7?3(a)(ii)orClause8.1;

"RepurchasePrice"

thepricepayablebytheSellertorepurchasethePurchasedReceivablesinaccordancewithClause7.3(a)(ii)or8.1;

"SellerLedgerAccount"

suchinternalledgeraccountmaintainedbyVelotradeintheSeller'snameandinsuchcurrenciesasVelotradeconsidersappropriateforthepurposeofrecordingtransactionsbetweenVelotradeandtheSeller;

"SellerPaymentAccount"

thebankaccountinthenameoftheSellertowhichVelotradewillmakepaymentsunderthisDeedasnotifiedbytheSellertoVelotrade,andinitiallybeingthebankaccountwiththedetailssetoutinSchedule1,part4;

"SupplyContract"

allsalecontracts,invoicesandotherinstrument,purchaseorderorcorrespondencewithrespectofthesaleofthegoodsorservicesbytheSellertotheDebtor;

"TradeDebt"

theamountofallobligationsorindebtedness(includinganytaxordutypayable)incurredbyaDebtorinrespectofasingletransactionundertogetherwithanyRelatedRightspertainingtosuchobligationsorindebtednesswhichtheSellerwishestoselltoVelotradeunderthisAgreement;and

"TradeDocuments"

anybilloflading,shippingdocuments,deliveryorders,warrantsorreceipts,inrespectofanapprovedTradeDebt(ortitletotheapprovedTradeDebt)ortheInvoice.

Part2：Wordsandphrases

InthisDeed,unlessthecontextotherwiserequires,anyreferenceto：

“agreedform”

means,inrelationtoanydocument,theformagreedbetweenthepartiesandforthepurposesofidentificationonlyinitialedbyoronbehalfoftheparties;

a"claim"

includesanyclaim,potentialclaim,counterclaim,potentialcounterclaim,rightofset-off,indemnity,counter-indemnity,causeofaction,demand,rightorinterestofanykindornaturewhatsoeverandinwhatevercapacityorjurisdiction,whetherknownorunknown,suspectedorunsuspected;

“contract”or“agre