On July 6, 2016, the Defendant entered into a contract with the Intervenor to supply goods continuously from the Intervenor and pay the price in cash or in promissory note by setting the contract period as three years from the date of concluding the contract.

(hereinafter “instant supply contract”). The main contents pertaining to interest in arrears and loss of benefit of time under the instant supply contract are as follows:

Article 3 (Interest in Arrears) (1) Where the defendant delays the payment of the price of goods and other obligations to be paid to the intervenor, he shall collect the interest in arrears in consideration of the monthly interest rate at the principal bank.

It shall apply the same as the interest of the extension of a bill for cash deposit.

(Physical Standard - The discount of sale under an agreement, the place of transaction by a bill, or the place of transaction by a bill: If 150 days or more as of the end of the sales month, a bill or check is paid by means of a bill or check: Provided, That if the bill or check is paid by cash, the price of goods shall be deemed to have been paid if the bill or check is settled in cash) provided for in Article 8 (Loss of Benefit of Time) of the Act, if the defendant falls under any of the following subparagraphs, the defendant's benefit within the term of the obligation shall be naturally lost and the obligation to the intervenor shall be immediately repaid:

(1) Where a compulsory execution (provisional seizure, seizure, auction, public sale, tax disposition, etc.) is made on business property; (2) Bankruptcy, dissolution, rehabilitation procedure, and workout program is applied for; hereinafter omitted - In order to guarantee the payment of the price of credit goods under the instant supply contract by having the intervenor as the insured on June 28, 2017 between the Plaintiff and the Defendant as the insured on June 28, 2017, the term of the performance guarantee insurance contract with the following contents: The insurance amount from July 6, 2017 to July 5, 2018; the name of the principal contract: 300,000,000 won: The guarantee term of the contract for the supply of credit goods: The insurance period of the debt incurred by the former Securities Finance shall be from July 6, 2016 to July 5, 2017: