APPLICATION

The Policies of Vessel Information Board

Article 1. (Purpose)

Vessel Information Board is the system for sharing vessel information among all the members of Vessel Information Board (each of the members of Vessel Information Board is called "Member"). Vessel Information Board intends to meet the supply and demand of vessels reasonably and efficiently.

    1. Member can have business negotiations under the principle of self-responsibility.
    2. All the Members own Vessel Information Board jointly and shall be equally liable with operating it optimally. Manager shall not make any warranty in connection with the accuracy, completeness or timeliness of the information on Vessel Information Board.
    3. Vessel Information Board is available at no charge; however, mediators between the customers and suppliers of vessels shall pay US$50 per a contract to Manager which has been concluded between the customers and suppliers.

Article 2. (Obligation of good faith)

Member pledges to act in good faith.

    1. Member shall report all questions which may arise in relation to Vessel Information Board to Manager without delay. If Member can’t act in good faith, the Member shall withdraw from Vessel Information Board.
    2. Information on Vessel Information Board shall be up to date accordingly so that business negotiations will go smoothly.

Article 3. (Manager and rules)

Inui Global Logistics Co., Ltd. shall manage Vessel Information Board and establish and abolish the operation rules (including this agreement).

    1. Applicant of Vessel Information Board ("Applicant") shall agree to all clauses of this agreement and apply in the prescribed manner. And Applicant shall deposit US$5,000 as security deposit after Manager accept the application. When Member withdraws from Vessel Information Board, the Member shall offer to withdraw in the prescribed manner. In this case, security deposit will be returned; however, in case of Forced Withdrawal in accordance with Article 3.2, security deposit won’t be returned.
    2. When Member offends Article 2 or any rules (including this agreement) or commits any acts that may damage the credibility of Vessel Information Board ("Offender"), Manager may give warning, recommend corrective action to the Offender or force the Offender withdraw from Vessel Information Board ("Forced Withdrawal"). In this case, Manager may publish the case.
    3. Manager may terminate the management of Vessel Information Board by giving one (1) month notice in advance.