Credit Trade Agreement
Contracto : K-Tronik Asia Corp. Taewoong Chung
Address: 656 Munhyeong-ri, Opo-myeon, Gwangju-si, Gyeonggi-do
I acknowledge that the ‘Bank Credit Trade Basic Articles” shall be applied when I execute the credit trade with
Hanvit Bank (“Bank”) in accordance with the conditions below (loan related with collective account and current
loan include the related articles and the trust loan includes the related credit trade articles) and confirm the articles
Article 1 (Trade Condition) The trade condition is as below.
To Hanvit Bank
February 28, 2001
One Hundred and Fifty
Loan Opening Date
However, should the loan term exceed
1 year, the interest rate can be altered
per year according to the policy by
of interest rate and
To calculate as a daily basis, regarding 1 year as 365 days. However,the foreign
currency trade follows the international customs and commerce traditions.
Should the bank find the debtor insolvent (4 times postponement of the monthly payment
of the installment savings, mutual installment and pre-funding system credit that are
awarded as mortgage), the bank shall be able to set off or appropriate at performance
through restoring by proxy. The current credit shall lose its term advantage from then. So
the debtor shall pay it shortly.
Article 2 (Postponement Damage)
- Should the debtor fail to pay the interest, installment and principal on due dates, the debtor shall pay the
postponement damage for the amount that have to be paid, shortly.
- Should the debtor fail to fulfill the obligation