CommitmentLetterforBankGuarantee：银行担保承诺函

Commitment Letter for Bank Guarantee
In consideration of:
I. For the Nanjing 2014 Summer Youth Olympic Games and related activities (hereinafter as
“special purpose”), it is planned to transport relevant goods (hereinafter as “goods for temporary import”) into China and they would be transported out of China within the time limit set by the Chinese customs.
II. According to the commitment made in the Host City Contract, NYOGOC would provide assistance to the holder of the Commitment Letter in customs clearance for temporary import and tax exemption, on the premise that it is in accordance with the Chinese laws.
Therefore, NYOGOC issued the first demand Letter of Guarantee (hereinafter a s “the letter”) to the China’s customs authority in accordance with the Chinese laws.
The user of the letter promises the following:
Article 1The user of the letter should submit the detailed list of goods (hereinafter as “list of goods”) to correspondin g NYOGOC departments 3 months before the arrival of the goods for temporary import. The list should include the following information authentically and accurately: (I) Name and description of the goods;
(II) Usage of the goods;
(III) Quantity, weight and size of the goods;
(IV) Value of the goods (including unit price and total value);
(V) Planned dates and ports of import/export;
(VI) Name, contact person and contact information of domestic declarant (receiver) designated by the user of the letter;
(VII) Other requirements of NYOGOC.
Article 2 User of the letter promises to act in line with the Chinese laws on goods for temporary import, including:
(I) User of the letter would transport the goods at the date and port of import/export indicated in
the list and use the goods only for special purpose.
(II) User of the letter is obliged to perform control and management over the goods for temporary import in line with the requirements set by NYOGOC and the Chinese customs.
(III) For export of goods, user of the letter should inform corresponding departments of NYOGOC as well as the Logistics Centre about related information with written notice.
(IV) In any case (such as: damage, stolen, decreased by normal consumption)that the goods could not be transported out of China on time, the user of the letter submit written notice about
the situation(including related documentation) to corresponding departments of NYOGOC. If the user of the letter plans to dispose the goods in China, such as: auction, transfer or donating, he or she must submit written notice to NYOGOC in advance, and get the approval of Chinese customs, then formal import formalities and taxation procedures must be followed.
In any case that the goods could not be transported out of China on time, the user of the letter shall inform corresponding departments of NYOGOC of the goods (including though not limited to name, actual location, controller, owner, etc.) in written notice. Meanwhile, the related document required by NYOGOC should be submitted by the user.
Article 3User of the letter promises that if the user violates the regulation in Article 2 or any other Chinese laws, he or she should pay the penalty and taxation to the Chinese customs. NYOGOC has the rights of lien, disposition and auction on the goods for temporary entry after written notice to the user of the letter.
Article 4User of the letter should purchase necessary insurance as requested by the Chinese customs and NYOGOC (if necessary).
Article 5 User of the letter promises that NYOGOC and its management staff, employees, agents, nominators and volunteers are exempt from liability (including though not limited to any penalty, punishment, loss or expense) caused by performing or not performing related articles in this letter.
Article 6 This letter is written in Chinese and translated into English. The Chinese version should prevail in case of inconsistency between the Chinese version and the English version.
Article 7 The Chinese laws are applicable to this letter. For disputes caused by this letter or related to this letter, arbitration would be performed in Nanjing by China International Economic and Trade Arbitration Commission.
Article 8 This letter takes effect on the date of signing. It is made in 3 copies, with the user of the letter, the corresponding department of NYOGOC and the Logistics Centre holding one respectively.
_________________________ (Seal)
Signatory_____________ (Signature)
Title__________________________
Date__________________________。