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SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom – Happiness


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INSURANCE CONTRACT
COMPULSORY FIRE AND EXTENDED RISKS
No: C00134/TSTH/13/10/17

Legal bases:

- Law on Insurance Business No. 24/2000/QH10 dated 9 December 2000 and any documents
amending, supplementing and guiding the implementation;
- Civil Code No. 33/2005/QH11 dated June 4, 2005 and any documents amending, supplementing
and guiding the implementation;
- Enterprise Law No. 60/2005/QH11 dated 29 November 2005 and and any documents amending,
supplementing and guiding the implementation;
- The Ministry of Finance's Regulation on compulsory fire and explosion insurance issued together
with Circular No. 220/2010/TT-BTC dated December 30, 2010 of the Ministry of Finance
- Pursuant to Circular 194/2014/TT-BTC dated 17 December 2014 of the Ministry of Finance

Today, April 24, 2017, at Da nang city, we hereby include:

One party:

1. DONG A UNIVERSITY

Address: 33 Xo Viet Nghe Tinh Street, Da Nang City

Telephone: 02363531994 Fax: 02363531333

Tax code: 0400418666

Representative: Ms. NGUYEN THI ANH DAO

Position: BOM Chairman

2. INVESTMENT AND DEVELOPMENT FUND OF DA NANG CITY

Address: 01A Ly Thuong Kiet, Thach Thang Ward, Hai Chau District, Da Nang City

Account No.: 56110000.372.179

At the bank: BIDV - Da Nang Branch

Representative: Mr. NGUYEN THANH TAM

Position: Director - Representative.


(Hereinafter referred to as Party A)

And

Other party: PVI DA NANG INSURANCE COMPANY

Address: No. 54-56 Nguyen Van Linh, Da Nang City

Tel: 02363.896896 Fax: 02363. 895890

Account No.: 250510000008160

At the bank: Vietnam - Russia Joint Venture Bank – Da Nang Branch

Representative: Mr. NGUYEN TRIEU VIET HUNG

Position: Deputy Director - Representative.

(Hereinafter referred to Party B)

WHEREAS:

- Party A needs to provide insurance services for property owned/used/Managed/administered by


Party A.

- Party B is an insurance business entity established and operating legally in accordance with
applicable laws, conditions and conditions for providing insurance services to Party A.

Therefore, Parties hereby agree to enter into a compulsory fire and explosion and extended risk
insurance contract (hereafter abbreviated as “Insurance Contract”) on following terms and conditions:

Article 1: Definitions applicable in the Contract:

1 Insurance contract: This is an agreement between Party A and Party B. Accordingly, Party A
pays the insurance premium and Party B must pay insurance compensation to Party A upon any
occurrence of any insured events. The documents of the Contract include:
- A risk assessment questionnaire and insurance application form of Party A;
- Certificate No. 17/13/10/TSTII/PCOO134 issued on 24 April 2017:
- Insurance rules
- Additional provisions;
- Any appendices and supplements (if any)
2 Insurance Rules: A document issued by the Party B that provides details of eligibility,
conditions and exclusions.
3 Certificate of insurance: A summary of the information on the insurance contract issued by
Party B and the request and information provided by Party A.
4 Supplementary Provisions: Contractual arrangements attached to the Contract to widen, narrow
and clarify the insurance scope (regulated or not regulated in the Insurance rules and/or
documents of the Contract.
5 Exclusions or excluded risks are the cases where an Party B is not required to pay compensation
for the occurrence of an accident.
6 Insurance Event: an objective event agreed by the parties or the law, when the event takes place
Party B must pay insurance compensation to Party A.
7 Sum Insured: means the amount that Party A requires to insure their properties and Party B
agrees to insure against those securities;
8 Deductions: The amount that Party A must pay in each and all the occurrences of events under
the responsibility of insurance and are determined after all the conditions and terms of the
Contracts are applied including the terms on the proportional compensation.
In case where the value of damage subject to insurance liability is equal or less than the such
deduction, Party B shall not be obliged to pay compensation for any damage.
9 Premium: means the amount that Party A must pay to Bcn B in accordance with the terms and
conditions as agreed between the parties and as specified in the Contract.
10 Date: means the calendar day in accordance with regulations, including holidays and weekends.
11 Laws: means all the provisions of Vietnamese law relating to the contents and regulations herein,
as well as all amended, supplemented or substituted documents from time to time.
Article 2: Supply of insurance services.
Party B agrees to cover COMPULSORY FIRE AND EXTENDED RISKS to Party A with the
following information:
Insured Assets: Asset and equipments of Dong A University at No. 33 Xo Viet Nghe Tinh Street,
Da Nang City.
Article 3: Applicable insurance terms and conditions.
3.1 According to the Circular No. 220/2010/TT-BTC dated 30 December 2010 of the Ministry of
Finance guiding implementing compulsory fire and explosion insurance, regulation on extended
risks of PVI enclosed with Decision No. 283 QD-PVIBH dated 13 April 2015 of the PVI
Insurance Corporation
3.2 Additional provisions, include:
1. War and civil war exclusion clause (Amended LRMA G51)
2. Terrorism exclusion clause (Reinsurance) NMA 2921
3. Nuclear Risk exclusion clause (Reinsurance) (1994) (Applicable worldwide except for USA &
Canada) NMA 1975a
4. International trade embargo
5. Absolute asbestos exclusion clause
6. Contamination/pollution exclusion clause
7. Terms on fire fighting expenses (limit of liabilities for 1,000,000,000 VND upon the loss and
the entire insurance period)
8. Terms on cleanup (limit of liabilities for 1,000,000,000 VND upon the loss and the entire
insurance period)
9. Terms on advance payment and compensation (50%)
10. Terms on strike, riot and civil disturbance (limit of liabilities for 1,000,000,000 VND upon
the loss and the entire insurance period)
11. Terms on auto insurance for additional assets (15 day notice)
12. Terms on cost of loss restriction (limit of liabilities for 1,000,000,000 VND upon the loss and
the entire insurance period)
13. Terms on auto-recovering insurance amount
14. Terms on temporary relocation (limit of liabilities for 500,000,000 VND upon the loss and the
entire insurance period)
15. Terms on computer risk elimination
16. Terms on loss assessment
17. Terms on insurance by recovery value
18. Terms on electrical equipments 4B
19. Terms on glass cracking (limit of liabilities for 1,000,000,000 VND upon the loss and the
entire insurance period)
20. Terms on items of buildings and structures (limit of liabilities for 1,000,000,000 VND upon
the loss and the entire insurance period)
21. Terms on peripheral works (limit of liabilities for 1,000,000,000 VND upon the loss and the
entire insurance period)
22. Terms on theft during or after fires (limit of liabilities for 1,000,000,000 VND upon the loss
and the entire insurance period)
23. Terms on patios, blinds, signboards and fixed assets (limit of liabilities for 1,000,000,000
VND upon the loss and the entire insurance period)
24. Terms on temporary protection (limit of liabilities for 1,000,000,000 VND upon the loss and
the entire insurance period)
Article 4: Scope of insurance
According to the Regulation on compulsory fire and explosion insurance issued together with
Circular No. 220/2010/TT-BTC dated December 30, 2010 of the Ministry of Finance, as follows:
C: Aircraft and other means of transport or equipments of those means
E: Riot, civil violence, strike, shutdown, or actions by people involved in labor disturbances or
malicious people not acting on behalf of or ralating with any political entity
G: Earthquake or volcanic eruption. K: underground fire
L: Fire caused by Self fermentation, heating or burning.
N: Storms, thunderstorms, flood
P: Flooding or overflowing from water tanks, water reserve equipments or pipelines, except for
assets destroyed or damaged by running water or leaked from fire protection equipment.
Q: Collisions by pedestrians or animals beyond the control or ownership of the insured or his or
her employees.
These extended risks must be complied with the exclusion clauses of the Regulation on insurance
of fire and special risks enclosed with Decision No. 283 QD-PVIBH dated 13 April 2015 of the
General Director of PVI Insurance Corporation
Article 5: Insurance period: 12 months
Beginning from 7 a.m on April 25th, 2017 to 7 a.m on April 25th, 2018.
Article 6: The amount of insurance: 70,000,000,000 VND
(In words: Seventy billion VND)
(According to the list provided by the pharmacist)
Article 7: Premium – deductible amount
7.1. Premium:
a. Premium rate: 0.03% (not including VAT)
b. Premium: 21,000,000 VND
c. Value Added Tax (10%): 2,100,000 VND
d. Total premium (b + c): 23,100,000 VND
(In words: twenty three million, and one hundred thousand dong)
7.2. Deductible level: 10,000,000 VND/loss
Article 8: Payment methods and premium
8.1. Payment methods:
[ ] Cash; [x] transfer; [ ] Check; [ ] Other
8.2. Payment documents: the insurance contract, VAT invoices
8.3. Payment currency: Vietnam Dong
8.4. Payment period: 30 days from the signing date of insurance contract.
Article 9: Rights and obligations of the parties.
9.1. Rights and obligations of Party A
a. Having been fully provided, understood and committed to comply with the terms and
conditions of the Insurance Rules, Additional Articles referred to in Article 3 and the contents of
this Contract;
b. To supply a comprehensive list of insured assets for Party B before signing this Contract as a
basis for consideration and settlement upon the occurance of insurance events.
c. To fully and duly pay premium on time;
d. To protect and manage the insured assets, properly store the fire prevention facilities.
Complying with the regulations on fire prevention and fighting in accordance with State
regulations;
c. During the insurance period, if arising out any change related to Insurance contract, insurance
certificate, insured assets, Party A has the responsibility to notify in writing to Party B. After that,
Party shall review, prepare additional articles/Appendix for the contract and adjust appropriate
insurance policy.
f. Upon the occurrence of any loss, Party A shall immediately notify Party B (ensuring that Party
B is notified within 14 days from the date of loss) and take the necessary and reasonable
measures to properly handle and maintain the damaged/loss parts, and Party B or Independent
appraisers appointed by Party B shall inspect the loss and damage.
Coordinating with Party B and provide Party B with materials, invoices, related papers to
complete the claim documents.
9.2. Rights and obligations of Party B.
a. To carry out the duties and obligations of Party B as stipulated in the Law on Insurance.
b. To carry out the insurance for the assets in accordance with the provisions of this Contract
c. To collaborate with Party A to collect the documents as required to complete the claim
documents in case of loss.
d. To fulfill the obligation of compensation as provided in this Contract
e. Party B shall not be liable for any loss and damage if within 14 days upon the occurrence of
any incident that Party B fails to receive the notice of loss.
Article 10: Settlement of insurance claim.
10.1. Notice of loss
In case of any damage and loss related to the Insured, Party A has the responsibility to notify
Party B in writing under the below address:
a. Da Nang PVI Insurance Company
b. Address: No. 54-56 Nguyen Van Linh - Hai Chau District - Da Nang City
c. Contact address: No. 199A Nguyen Huu Tho - Da Nang City
d. Phone: 05113.896896 Fax: 05113. 895890
10.2. Loss assessment
In case where there is any damage arising out under the liability of this Contract, within 48 hours
from the date of the receipt of Party A’s notice, Party A shall appoint an independent appraiser
and/or an independent assessment organization and Party A shall be responsible for compliance
with Party B to determine the causes and loss level which result as the basis for Party B to
consider and settle the claim, according to the terms and conditions of this Contract.
10.3. Terms and conditions for compensation payment
After Party B has received all valid claim documents and within 30 days as from the date that
Party A confirms the agreement on the compensation within the scope of insurance, the whole
compensation shall be paid by Party B for A as follows:
a. Beneficiary:
- DONG A UNIVERSITY
Address: No. 33 Xo Viet Nghe Tinh Street, Da Nang city
- INVESTMENT AND DEVELOPMENT FUND OF DA NANG CITY
Address: 01A Ly Thuong Kiet, Thach Thang Ward, Hai Chau Dist., Da Nang City
Payment method:
[ ] Cash; [x] transfer; [ ] Check; [ ] Other
b. Payment currency: Vietnam Dong
10.4. Claim documents
Claim documents include the following documents:
a. Notice of loss (specify the objects of loss, preliminary assessment of cause and extent of loss);
b. Final assessment report (if any, assessed by Party B with its own cost);
c. Regulations applicable to insurance, insurance contract and its Amendments (if any); certificate
of payment for premium;
d. Materials, invoices, vouchers showing the level of loss, repair cost, emergency recovery ...;
c. Other relevant documents as required by the Appraiser and the Representative of Party B for
determining the causes and the loss level;
f. Conclusion of the local competent authorities on fire prevention and control regarding the
causes and the loss level;
g. Other related documents.
Article 11: Regulations on fire prevention and fighting
Party A must comply with the law on fire prevention and fighting, recommendations of fire
fighting agencies and Party B (if any). In case where Party A violates the provisions of this
Article, Party B shall have the right to refuse a part or whole of compensation amount in
accordance with Party A's violation.
Article 12: General commitments.
- The parties hereby are committed to fully and properly comply with the provisions of this
Contract.
- If there are any conflict and/or inconsistency with the settlement provisions in this insurance
contract and in the Insurance Regulation as stated in Article 4 of the Contract, the dispute
settlement shall be carries out according to the provisions of this Contract.
- If either of the two parties proposes to amend the contents of this Contract, it must notify to the
other party in writing for approval. If necessary, the two parties will sign Appendix I to the
contract as a basis for implementation.
- During the contract implementation, if arising out any dispute, the two parties shall discuss and
settle on the basis of negotiation. If the two parties fail to resolve such dispute by negociation,
such dispute shall be resolved by the competent court in accordance with the provisions of
Vietnamese law.
- The contract is made in 4 (four) copies with the same legal value. Each party keeps 2 (two)
copies for implementation.

REPRESENTATIVE OF THE INSURED REPRESENTATIVE OF THE INSURER


(signed and sealed) (signed and sealed)