4.Confirmation and Payment of Rental or Subsidy, Deposit, Tax, and Related Charges

• Recognition of rental or subsidy and related charges
• After an individual contract takes effect, if the Contract requires the Lessee to pay the rental to the Lessor, the Lessor will issue an invoice to the Lessee; if the Contract specifies that the Lessor pays the subsidy to the Lessee, the Lessee will issue an invoice to the Lessor after redelivering all the containers; if it's agreed in the Contract that neither party shall pay any rental or subsidy, then no invoice will be issued to any Party.
• The Lessor shall issue invoices to the Lessee for the rental per diem, maintenance costs, cancellation fees, and loss compensation incurred in accordance with the relevant provisions of the Contract and borne by the Lessee.
• Unless otherwise agreed upon by the Parties, the invoices issued by the responsible party shall be in compliance with the laws and regulations where the company is situated.
• Upon receiving the invoices issued by the other Party, one Party shall check the content and inform the other Party of the check result. The invoices legally issued by one Party to the other Party in accordance with the provisions of the Contract shall serve as the basis for the Parties to settle the expenses.

• Deposit

• After an individual contract is in effect, if the Contract requires the Lessee to pay the deposit for container equipment to the Lessor, the Lessor shall issue a proforma invoice to the Lessee.
• Within the agreed period, after the Lessee redelivers the container equipment to the Lessor at the off-hire location, the Lessee shall issue a proforma invoice to the Lessor.

• Taxes and fees
• Unless otherwise noted, the invoices issued by the Lessor do not cover any taxes such as value-added tax, income tax, and customs duty, or any administrative fees (including fines) that may be levied. The Lessee shall bear any of the mentioned expenses incurred, regardless of the reason, object, or location of the fee collection.

• Term of payment
• Unless otherwise agreed upon by the Parties, the payment period for invoices shall be 30 days. For invoices legally issued by one party to the other in accordance with the provisions of the Contract, the recipient shall make payment within the mentioned payment period.

• Limit of credit sale

• The limit of credit sale is USD 15,000 only. If one Party’s account payable to the other Party is beyond the limit of credit sale, it shall settle all arrears to the other Party; the limit of credit sale is not confined to the leasing business of containers, but the gross amount of all business transactions between the Parties. If the Parties also agree on the limit of credit sale in other contracts, the latest agreement shall prevail.
• If one Party’s account payable is beyond the limit of credit sale, it shall settle all accounts with the other Party; otherwise, the other Party shall be entitled to refuse the new credit sale request, no matter whether the payment period agreed by the Parties expires or not.
• If one Party delays any payment, the non-breaching Party shall be entitled to unilaterally lower or cancel the limit of credit sale of the breaching Party.

• Payment of rental or subsidy, deposit, and related charges

• One party shall pay general expenses to the other Party as agreed based on the invoices legally issued by the other Party, and shall not delay or deduct the mentioned fees on the ground of economic disputes between the Parties or with any other excuses.
• Unless the other Party has confirmed matured debts, or the other Party agrees to offset the debts by written confirmation, neither of the Parties shall unilaterally and forcibly offset the debts.
• If one Party makes payment to the other Party by means of transfer and remittance, the Parties shall afford the respective transaction fees.
• One party shall make payment to the other Party within the payment period. If one Party delays the payment, it shall be liable for breach of the Contract.
• If one Party makes payment to the other Party, it must pay to the account confirmed by the other Party based on the invoice instructions of the other Party.
• Accounts

• The Lessor confirms its account as below:
• Beneficiary Bank Name :  HSBC
• Bank Code :  004
• Bank Account No. :  801-212903-838
• Beneficiary Bank Address :  1 Queen’s Road Central, Hong Kong
• SWIFT Code :  HSBCHKHHHKH
• Beneficiary Name :  GATEWAY CONTAINER INTERNATIONAL LIMITED
• Currencies :  HKD, RMB, USD, EUR, GBP, AUD, NZD, JPY, CAD, SGD, CHF, and THB.

• The Lessee confirms its account as below:
• Beneficiary Bank Name :
• Bank Code :
• Bank Account No. :
• Beneficiary Bank Address :
• SWIFT Code :
• Beneficiary Name :
• Currencies                              ： USD