ANC Foundation Document,USA - ??,????,???? by S60I03


									ANC Foundation Document,USA

            Stipulation inside Business Co-operation
In accordance with the Federal laws of USA and the State laws of
Delaware, also in line with American ANC Foundation’s constitution and
management curriculum, further following project of Hulin,
China/Germud, China prime investment projects, the CEO decided that
American ANC Foundation issue the “Stipulation inside Business
Co-operation” to the project group in Hulin, China/Germud, China.This
stipulation should be enforced out.
A: Business accommodation/vehicle/composition of necessary working
documents/personal travel expense/standard expense/incidental expense
and other pre-business expense in economic activities could be legally,
reasonably adjusted and operated in form of non-property security
replacement, this method could strengthen the working co-operation and
promote work before the Development and Reform Commission of China
issued the application letter for establishment of Hulin/Germud Project.
B: Non-property security can’t be transferred, purchased, donated and
inherited. The judicial department is unable to arbitrate the non-property
security as compensation, either. Non-property security is in form of
increase of investment/enlargement of shares, increase of
investment/enlargement of shares/withdraw investment/withdraw shares,
increase of investment/enlargement of shares/withdraw
investment/withdraw shares/transfer investment.
C: The project group and American ANC Foundation jointly decided the
ratio of non-property security and distribution of funds according to the
actual demands, American ANC Foundation will authorize and
completely be in charge of it, the project group will be organizing and
implementing while the financial management will be verified and
examined by American ANC Foundation.
D: As American ANC Foundation is under supervision and management
of voluntary staff system, all the costs can’t be transferred and calculated
until this investment project of American ANC Foundation to be verified
and checked by the central government of the People’s Republic of China.
This correspondence (No.2007/021) is just temporary measures in
management, and this correspondence (No.2007/021) will be no longer
effective after the investment project verified and examined by central
government of the People’s Republic of China.
E: During the performance of correspondence (No.2007/021), any losses
of project applier and fund contributor Caused by American ANC
Foundation in its mismanagement will be arbitrated by local jurisdiction
court. American ANC Foundation will undertake the International
compensation or settle the compensation in project co-operation planning
from other countries.

                                ANC Foundation Document ,USA

This stipulation

American ANC Foundation
April 24th, 2007


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