【正文】 ll be paid in_______________ installment. Each installment shall be as follows: (Note: it shall be written according to the concrete conditions). Article 13 The machines and equipment contributed by Party B as investment shall meet the needs of the cooperative venture pany, and shall be carried to the Chinese port_________ days before the pletion of the premises construction. Chapter 6 Responsibilities of Each Party to the Joint Venture Article 14 Party A and Party B shall be respectively responsible for the following matters: Responsibilities of Party A: Handling of applications for approval, registration, business license and other matters concerning the establishment of the cooperative venture pany from relevant departments in charge of China。 Responsible for handling other matters entrusted by the cooperative venture pany. Responsibilities of Party B: Providing cash, machinery and equipment, industrial property... in accordance with the provisions of Article 11 and Article 12, 13, and responsible for shipping capital goods such as machinery and equipment etc. contributed as investment to a Chinese port。 _____by Party ______. The general manager and deputy general managers whose terms of office is _____years shall be appointed by the board of directors. Article 27 The responsibility of the general manager is to carry out the decisions of the board and organize and conduct the daily management of the cooperative venture pany. The deputy general managers shall assist the general manager in his work. Article 28 The general manager shall report to the board of directors the operation conditions of the cooperative pany every three months, and make a financial report every six months. Article 29 In case of graft or serious dereliction of duty on the part of the general manager and deputy general managers, the board of directors shall have the power to dismiss them at any time. Chapter 11 Labor Management Article 30 Labor contract covering the recruitment, employment, dismissal and resignation, wages, labor insurance, welfare, rewards, penalties and other matters concerning the staff and workers of the cooperative venture pany shall be drawn up between the cooperative venture pany and the trade union of the cooperative venture pany as a whole, or the individual employees in the cooperative venture pany as a whole or individual employees in accordance with the law of the People’s Republic of China on ChineseForeign Cooperative Joint Ventures. The labor contracts shall, after being signed, be filed with the local labor management department. Article 31 The appointment of highranking administrative personnel remended by both parties, their salaries, social insurance, welfare and the standard of travelling expenses etc. shall be decided by the meeting of the board of directors. Chapter 12 Taxes, Finance and Audit Article 32 The cooperative venture pany shall pay taxes in accordance with the provisions of Chinese laws and other relative regulations. Article 33 Staff members and workers of the cooperative venture pany shall pay individual ine tax according to the Individual Ine Tax Law of the People’s Republic of China. Article 34 The fiscal year of the joint venture pany shall be from January 1 to December 31. All vouchers, receipts, statistic statements and reports shall be written in Chinese. (Note: A foreign language can be used concurrently with mutual consent). Article 35 Financial checking and examination of the cooperative venture pany shall be conducted by an auditor registered in China and reports shall be submitted to the board of directors and the general manager. In case Party B considers it necessary to employ a foreign auditor registered in another country to undertake annual financial checking and examination, Party A shall give its consent. All the expenses thereof shall be borne by Party B. Article 36 In the first three months of each fiscal year, the manager shall prepare the previous year’s balance sheet, profit and loss statement and proposal regarding the disposal of profits, and submit them to the board of directors for examination and approval. Chapter 13 Duration of the Cooperative Venture Article 37 The duration of the cooperative venture pany is______ years. The establishment date of the joint venture pany shall be the date on which the business license of the cooperative venture pany is issued. An application for the extension of the duration, proposed by one party and unanimously approved by the board of directors, shall be submitted to the Ministry of Foreign Trade and Economic Cooperation (or the examination and approval authority entrusted by it) six months prior to the expiry date of the joint venture. Chapter 14 The Disposal of Assets after the Expiration of the Duration Article 38 Upon the expiration of the duration, the assets shall belong to Party A. Chapter 15 Insurance Article 39 Insurance policies of the joint venture pany on various kinds of risks shall be underwritten with the People’s Republic of China. Types, value and duration of insurance shall be decided by the board of directors in accordance with the provisions of the People’s Insurance Company of China. Chapter 16 The Amendment, Alteration and Termination of the Con tract Article 40 The amendment of the contract or other appendices shall e into force only after a written agreement has been signed by Party A and Party B and approved by the original examination and approval author