Commitment Letter Regarding the Letter of Guarantee for Temporarily Imported Goods
WHEREAS:
(i) Goods (the “temporarily imported goods”) will be transported into the territory of China and re-exported out of China within the time period specified by China Customs. These goods are for use during the 26th Summer Universiade, Shenzhen and for activities organized or authorized by the Organizing Committee for the 26th Summer Universiade, Shenzhen (the OC).
(ii) The OC will fulfill commitments made in the Attribution Contract. In accordance with the laws and regulations of China, the OC will assist the signer of this Letter of Guarantee in handling customs clearance procedures to obtain tax exemption for the temporarily imported goods.
For that purpose, the OC has provided China Customs a demand guarantee (the “Letter of Guarantee”), in accordance with the laws and regulations of China.
The signer of this Letter of Guarantee hereby makes the following commitments:
1. The signer of this Letter of Guarantee will submit a list of goods (hereinafter referred to as the “List”) to the relevant department of the Executive Office of the Organizing Committee (EOOC) at least two months before the goods are transported into China. The signer guarantees that all the information on the List is true and accurate. The List must include the following information:
(1) Name and description of the goods;
(2) Intended use of the goods;
(3) Quantity, weight and measurements of the goods;
(4) Value (including unit value and total value);
(5) Times and ports when and where the goods will be transported into and re-exported out of China;
(6) Contact person and his/her contact information; the name of the person in charge of the import declaration in China (the consignee) who has been designated by the signer of the Letter of Guarantee;
(7) Any other information required by the EOOC.
2. The signer of the Letter of Guarantee agrees to comply with relevant provisions of Chinese laws applicable to temporarily imported goods.
(1) The signer of the Letter of Guarantee will have the goods transported into China at the time and the port specified in the List, and will use the goods exclusively for the 26th Summer Universiade, Shenzhen.
(2) The signer of the Letter of Guarantee will control and manage these temporarily imported goods, as required by the EOOC and China Customs.
(3) Before re-exporting the goods, the signer of the Letter of Guarantee will promptly provide relevant information in writing to the relevant department and the Logistics Center of the EOOC.
(4) If the temporarily imported goods are destroyed, damaged, stolen, or reduced in quantity due to normal consumption before they are re-exported out of China, the signer of the Letter of Guarantee will immediately inform the relevant department of the EOOC about the condition of the goods in writing and provide supporting documentation. If the signer of the Letter of Guarantee plans to auction, transfer, or donate the temporarily imported goods within China, he/she must notify the EOOC in writing in advance, obtain the approval of China Customs, complete the necessary procedures for the importation of such goods, and pay taxes and fees in accordance with Chinese laws.
If, for whatever reason, the temporarily imported goods cannot be re-exported out of China within the specified time period, the signer of the Letter of Guarantee will promptly inform the relevant department of the EOOC in writing about the current situation of the goods and provide the necessary documents requested by the EOOC. The information must include, but is not limited to, the name and description of the goods, their location, the person in control of the goods, and the owner of the goods.
3. The signer of the Letter of Guarantee agrees to pay China Customs all taxes and penalties that might result from his/her breach of the provisions under Article 2 of this Letter, or violation of Chinese laws and regulations.
4. Upon the request of Customs and the OC, the signer of the Letter of Guarantee will purchase and maintain necessary insurance.
5. The signer of the Letter of Guarantee releases the EOOC, its management, employees, agents, appointees and volunteers from all possible compensation liabilities (including but not limited to fines, penalties, losses or expenses) arising from the performance or non-performance of the Commitment Letter.
6. This Commitment Letter was written in Chinese; an English translation is attached. If there is any inconsistency between the Chinese version and the English translation, the Chinese version shall prevail.
7. This Commitment Letter is equivalent to an agreement; it will be governed by the laws of China. Any possible disputes arising from or in connection with the Commitment Letter will be appealed to China International Economic and Trade Arbitration Commission for arbitration in Shenzhen.
8. This Commitment Letter becomes effective on the date of signing and sealing. The Letter is in triplicate. One copy will be held by the signer of the Letter of Guarantee, one by the relevant department of the EOOC, and one by the Logistics Center of the EOOC.
(Seal)
By: (Signature)
Name:
Title:
Date: