Form Agency Agreement

AGENCY AGREEMENT
This Agreement is made on 01 Mar. 2023 by and between:
XXXX
XX
XX
(hereinafter called “XX”)
And
ABAD LOGISTICS CO .,LTD

RM 805 , Gwanghwamun Officia, 163, Sinmunno 1-ga,
Jongno-gu, Seoul 03186, Korea
(hereinafter called “ABAD”)
1. Validity and Termination.
This agreement shall be effective from 1st Mar.2023 and shall remain valid unless
and until terminated by either party with at least sixty (60) days written notice to the
other party.
2. Representation
Both parties agree to co-operate actively and closely to develop air/sea freight and
local service business on a Neutral basis, including freight from Taiwan, Hong
Kong, and China to Vietnam and vice versa.
3. Sales and Marketing

(a) Each party will exchange Sales Information (Sales Leads) relating to traffic
between their countries. All sales leads will be treated with high importance and
strict confidentiality.
(b) Any routed cargo will be advised and sent by facsimile /e-mail to the concerned
party in advance.
(c) Both parties should declare to each other their respective buying rates (net/net
and without any undisclosed profit) from the carriers for selling purposes and for
sales profit computation.
4. Service
(a) Each party shall render prompt services of customs clearance and delivery for the
individual shipments of the other party‘s consolidation. All such clearance and
delivery charges are for the account of the party instructing the order.
(b) Concerning shipments with freight charge due from the consignees, it is the
respective party‘s responsibility to receive the payments of all charges due before
making a final delivery.
(c) Origin party should send pre-alerts through facsimile or E-Mail to the receiving
party containing HBL/OBL and MAWB/HAWB copy; consignee/consignor
information as well as freight collect amounts.
5. Master Airway Bill and Carrier’s Ocean Bill of Lading
(a) Unless mutually agreed upon in writing ABAD and ??? shall not send airfreight
shipments to each other on freight collect Master Airway Bill (MAWB).
(b) For sea freight shipment, the terms of the carrier’s Ocean Bill of Lading will be
in accordance with the House Bill of Lading’s (HB/L) freight terms.
6. FOB Charges
FOB charges will be paid by shipper. In case shipper refuses to pay or due to other
agreements between shipper and consignee, the sending party should inform the
receiving party in advance in order to collect from consignee.
7. Profit Sharing
a) There is no break bulk fee for each party
b) Profit share only based on routed shipment from other parties
c) For new customers and new business obtained since the beginning of this agreement from
sales leads provided by either ??? or ABAD, the freight profits will be shared on a 50/50
basis.
d) Handling party will not be responsible for sharing a loss where such loss was caused by
the selling rate of the routing party being below the cost.
8. Release of cargo
(a) All shipments are to be delivered after taking all the necessary documents from
the consignee/ airline. In case of shipments to Banks, the necessary Bank Release
Order or equivalent is to be obtained before delivering the cargo. In absence of the
documents the receiving agent is fully responsible for any claims originating
against the same.
(b) As long as shipments or consolidations are consigned to ABAD or ???, in the
event The House Airway bill (HAWB) or House Bill of Lading (HB/L) shows
freight and/or charges Collect, the receiving agent is responsible for all charges to
be collected as per the HAWB or HB/L or agents invoice accompanying the cargo.
(c) In any event where a consignee does not respond to arrival notices and/or does
not take delivery of the documents/consignment within 3 (three) days from arrival
at destination, the receiving agent should send either by fax or email “notice of
non-delivery” to the origin office along with the reason why, if any, and request for
consignor’s/origin office’s disposal instructions. Failure to comply with above
means the receiving agent is responsible for the freight charges of the undelivered
shipments.
(d) If the consignee nominates his own customs clearance agent, the receiving
party will hand over all necessary documents to such agent.
(e) If the shipment is damaged or number of cargo is short by the force majored or
carrier’s cause or transport tools before loading /during the transportation or after
arrival, both parties will bear the concerned duties, charges and lost in legal.
(f) Force majored refers to natural and man-made disasters, such as typhoons,
tsunami, earthquakes, cyclones, thunder, fire or explosion by the transport tools
collide the subjects in sea or other transport tools, sweating, heating, war, strike,
quarantine by the government. Except for the listed conditions above, we can
negotiate case by case when we meet other special instances.
9. Settlement
(a) Origin party will issue monthly accumulated statement and submit to destination
no later than the 10th day of the following month, and remittance should be made on
30th of the same month through telegraphic transfer or other suitable remittance
method.
(b)The credit limit for both parties per month is US$ 1,000. Once exceeding the
credit limit, payment has to be settled immediately!
(c) If total collect charges of any shipment exceed US$ 1,000, then based upon
request, settlement should be made case by case
(d) If one party does not settle a payment according to (a) above, or the credit limit
in (b) above is exceeded, then the other party reserves the right to issue MAWB or
OB/L on freight collect basis. The receiving party shall absorb the c.c. fee involved.
(e) Origin party shall prepare invoice/debit note for each shipment/consolidation
and transmit documents inside pouch to destination for reference.
10. Currency
Each party agrees to remit all amounts due in US dollars to the other party’s
banking account.
Detail information of APLUS Bank account :
Beneficiary Name :
Bank account in USD :
Name of Bank :
Swift code :
Detail information of ABAD Bank account:

Beneficiary Name: ABAD LOGISTICS CO .,LTD
BANK ADD. : 35, Eulji-ro, Jung-gu, Seoul, Republic of Korea
A/C NUMBER: 158-910008-22638
NAME OF BANK: KEB HANA BANK
SWIFT CODE: KOEXKRSE
11. Indemnity & Liability

Both parties shall hold each other harmless from any loss, damage, cost or expense
of whatever nature they might suffer from acts of negligence, error, or omission by
their officers, employees, representatives and/or sub-contractors. Neither party
shall be responsible to the other party for any consequential or indirect losses.
12. Practices & Confidentiality

Concerning matters not stipulated in this agreement, both parties shall observe the
established commercial practices and business ethics. Both parties shall keep strict
confidentiality of each other‘s sensitive information.
13. Jurisdiction
Any disputed amount which cannot be solved amicably shall be governed by the
jurisdiction and laws of the country of the defendant.
IN WITNESS WHEREOF, the parties hereby have caused this Agreement to be
executed in their name and by the signature of their duly authorized officers or
officials hereto, signed on the date first above written.
ABAD LOGISTICS CO .,LTD
Witness………………………………………
Name:
Title:
XX
Witness……………………………………..
Name: XX
Title: Managing Director

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AGENCY AGREEMENT

This Agreement is made on 01 Mar. 2023 by and between:

ABAD LOGISTICS CO .,LTD

3. Sales and Marketing

5. Master Airway Bill and Carrier’s Ocean Bill of Lading

Detail information of APLUS Bank account :

Detail information of ABAD Bank account:

11. Indemnity & Liability

12. Practices & Confidentiality

ABAD LOGISTICS CO .,LTD

Title: Managing Director

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