【文章內(nèi)容簡介】 and the amount of each repayment shall be adjusted according to the actual situation. You should hold yourselves responsible for buying back or pushing sales of the resultant products and/or any other products produced withe the said machine to equalize the stipulated amount of for the imported machine and for the products supplied to you are to be accounted separately and offset each other. We would instruct the Bank of China to issue a letter of guarantee to ensure timely payment for the machine imported from you while for the buyback products you are requested to open once every three months a sight L/C in our favor upon receipt of our advice. The abovementioned points are the principles on which the pensation trade agreement is to be on the whole you agree to deal on a pensation trade basis,we will make out a draft agreement for your the meantime,we wele your ments and suggestions in regard to the terms mentioned above so that we may make supplements if necessary when drafting the agreement. We think this is a wise way from which we both can receive await your early reply. Yours sincerely Yantai Hope Import amp。 Export Corporation James Wang About joint venture ? The establishment of joint venture enterprises enables China to study advanced scientific management, to improve product quality so as to make China180。s export modities petitive in the overseas markets. Joint venture means an enterprise jointly established and run by investors of different nationalities for the purpose of gaintly profit. Basically there are two types: Equity Joint Ventures and Contractual Joint Ventures. In China, joint exploration is also within the category of joint venture. Letter14(7)(Drafting a joint venture contract)(起草合資企業(yè)合同 )P174 CHINA COSTAL TEXTLIES CORPORATION YANTAI,CHINA May 20,2022 Bunge Investment Corporation Melbourne AUSTRALIA Dear Sirs, We are pleased that during our discussion last week we reached agreement on the proposed joint venture in drawing up the formal contact for signature we should like to confirm the main points upon which we have agreed,namely: the Chinatex and Bunge enter into a wholesale textiles joint venture in the state of Victoria. the Chinatex holds 30% of the shares and Bunge 70%. Bunge undertakes to establish warehouse facilities in Melbourne. the joint venture is to be registered to operate also in State of New South Wales. all profit,osses,cost and liabilities will be prorated according to the share holding of each party. any disputes in connection with the joint venture agreement which cannot be settled by consultation shall be referred to arbitration by the CCPIT Arbitration Commission,whose award should be final and binding upon both parties. the agreement is subject to ratification by the two government authorities. Upon receiving your letter of confirmation we will arrange for the contract to be drawn up and send to you for signing. Yours faithfully China Costal Textiles Corporation Wu li Manager Key words and phrases n 代理人 sole agent(or:e