Agency Agreement

concluded pursuant to Article 577 and following of the Commercial Code (Act no. 513/1991)

Article I. Contracting Parties

Article II. Scope of the agreement

The purpose of this agreement is to establish legal grounds for representation of the principal by the agent at customs clearance procedure pursuant to the Council regulation (EEC) 2913/92 chapter 2, section 1, article 5, which establishes the Community Customs Code.

Article III. Obligations of the agent

THE AGENT IS OBLIGED:

1. to prepare all documents required for customs declaration pursuant to applicable laws in effect, prepare and present the above mentioned customs declaration for the purposes of customs clearance procedure.
2. to act in his own name but on behalf of the principal and consult with the principal in order to correctly classify the goods with regards to the customs tariff and specify the purpose proposed under which such goods shall be released.
3. to notify the principal about the customs debt without undue delay following the determination by the customs authority.
4. to pay in full the customs debt as determined by the customs authority provided that all obligations of the principal as set forth in the Article IV. section 3 hereto, have been duly fulfilled.
5. to send via registered mail to the principal all documents pertaining to the customs clearance procedure.
6. to treat all information concerning the principal as confidential and prevent any misuse.

Article IV. Obligations of the principal

THE PRINCIPAL IS OBLIGED:

1. to provide the agent with all the required documents and information regarding the proposed purpose to under which the goods shall be released.
2. to provide the agent with authentic source material serving as basis for the filing of customs declaration (mainly but not limited to import and export licenses), provide information concerning additional invoices, concerning documents verifying the claims for preferential tariff rates or exemption from customs duty and other rulings pursuant to applicable legislation. Shall the principal provide the agent with false or incorrect source material for the purposes of filing customs declaration, the principal shall be held fully responsible for all damages incurred (such as, but not limited to, fines imposed by the ) and reimburse the agent in full.
3. to refund to the agent the amount of customs debt upon receipt of notification about such customs debt from the agent

Article V. Term of the agreement

The agreement is concluded for indefinite period.

Article VI. Specific provisions

1. The agent shall deliver the package to the principal upon receipt of payment by the agent from the principal of an amount corresponding to the customs debt as determined. In case of cash payment it is possible to pay the amount of assessed customs debt directly to the carrier of agent upon delivery of shipment.
2. The principal is obliged to perform duly and timely all actions related to customs transit regime, mainly, but not limited to, deliver to the appropriate customs authority the form T1 required for termination of the transit regime. Any damages incurred as a result of failure to comply with the above mentioned obligation (such as, but not limited to, penalty imposed by the customs authority onto the agent), the principal is obliged to reimburse the agent in full.
3. The agent shall accept the package into storage and shall only release it upon payment in full of all costs arising from previous customs debt.
4. Upon expiration of the period of 10 days from accepting the package for storage, the agent shall bill to the principal the costs of storage amounting to 5% of the customs debt as assessed, for each day from the day of accepting the package for storage.
5. The agent is entitled to a fee for producing Transit customs declaration, Unified customs declaration and for individual services (such as amending the UCD) pursuant to applicable Tariff for individual services , constituting an integral part of this agreement.
6. The agent reserves the right to amend the Tariff for individual services at his own discretion.

Article VII. Termination of the agreement

This agreement may be terminated as follows:

1. by mutual consent of the parties hereto.
2. by delivering a notice of termination to the other party, with a one month notice period starting from the first day of the month following the delivery of such notice.
3. by withdrawal from the agreement in case one of the parties substantially breaches its obligations.

Article VIII. Final provisions

1. The agreement becomes valid and enforceable upon signature by both Parties.
2. Any amendments to this agreement may only be performed in writing subject to previous mutual consent of the parties.
3. This agreement is executed in two counterparts. The parties hereto hereby declare that they have read the whole body of text of this agreement, that it represents their free will and agree with its provisions in witness thereof the parties attach their signatures hereto.
4. Certified copy of an extract from the Companies registry or Trade license and a photocopy of tax registration (Tax no. assignment) form an integral part of this agreement.

In Bratislava, on . In , on

agent

principal