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1. Certificates No. 572 signed by the Defendant’s notary public against the Plaintiffs on June 24, 2014.
Reasons
1. Basic facts
A. The Plaintiff B Co., Ltd. (hereinafter “Plaintiff Co., Ltd.”) is a juristic person whose purpose is the manufacturing business of hair, leather and general clothing, and the Plaintiff A is the representative director of the Plaintiff Co., Ltd., and the Defendant also is a juristic person whose purpose is the manufacturing wholesale and retail business of hair, leather, and clothes.
B. On May 30, 2014, the Plaintiff Company and the Defendant concluded a contract under which the Defendant would supply the credit (hereinafter “instant contract”) with respect to the clothing that the Plaintiff Company supplied to Econa Co., Ltd. (hereinafter “Econa”).
The main contents of the instant contract are as follows.
[Agreement on the Supply of Credit] The plaintiff company and the defendant enter into a contract on the supply of credit to the non-party company as follows:
Article 1 (Purpose) The purpose of this Agreement is to provide the Plaintiff Company with funds required for the issuance of letters of credit and customs clearance for the products that the Plaintiff Company entered into a supply contract with the Nonparty Company, and to regulate the matters related thereto so that the Plaintiff Company may be engaged in production and supply in a timely manner by utilizing its business and production know-how.
Article 2 (Business Division) The plaintiff company and the defendant under the mutual trust of the defendant company shall faithfully perform their responsibilities and duties throughout their business and production to preserve the defendant's interest, and the defendant shall not be able to preserve the business interests of the plaintiff company as much as possible within the financial scope of mutual agreement so that it does not interfere with the plaintiff company's business.
Article 3 (Contents of Contracts)
1. The defendant shall, to the extent agreed, issue a credit necessary for the plaintiff company's business errors from the non-party company under mutual agreement.
Scope of Credit Opening: US$ 2 million
2. The validity of the Credit (the price of goods after the issuance of the Credit and the period during which the payment of the credit is completed after the issuance of the Credit) shall be limited to four months and may not be extended.
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