Ensuring eSignature Legality for Toll Manufacturing Agreement in Australia

How to eSign a document: e-signature legality for Toll Manufacturing Agreement in Australia

[Music] in 205 something changed because I was posted by a mulas called TCL TCL is very big company in in China and they acquire a l of indal Brin names and they they want some International legal council to help them to go overseas and I was say recuit there so I I came to s in 2005 and then say later on say I was a general counsel overseeing 70 lawyers over the world with 17 teams of different languages culture VES belief all right and I I think I visit about 100 countries already and during that time years I work until 2014 the last month of 2014 because I was on the ceiling long time I found that actually say still 5% of my capacity and seeing that say every day go to the office having a cup of coffee talking with people and then a day on it seem nothing special so they say I want to find my own job okay and then say I use my uh my wife company angry AR it is founded in 2006 and then my wife also a lawyer and they say she's a Chinese lawyer and Hong Kong Eng lawyer and they see it makes perly well all right it look s and that's why say I can advise Chinese law come La as well I know say US law a lot EU uh some of the develop countries because I I've been there because the WAN La yes I no indol La yes I know say because I've been working with them for a lot of time different partners in Japan Korea Taiwan any place name it I always be there negotiating with the biggest BR name there about say the manufacturing contract usually and the distribution agreement today we start right say I put it into contract ABC why ABC means as easy as ABC and then start the thing from ABC okay okay yeah so we start I'm I have been a professor for 20 years so I like how to talk say contract elements right however for the manufacturing contract I put it from ABC uh before I go ABC or let me start say for common nor actually we have four elements at this okay so start with the contract number one was the parties make sure that who other parties okay do not use the English name English and Chinese name and also the business license together to make sure that you're Contracting with the right party don't use to say the so beautiful name that Chinese translated right but actually in China they do not use this P understand so we have to make sure that if you are doing the Chinese manufacturer you make sure that the Chinese name also on the contract okay and then with have a business license as well okay you say that you're doing somebody but actually only a train maybe okay you make sure that the factory we the same name as the contract name all right that kind of thing you to check I think you should need a factory ORD before you start to work with a contractor manufacturer is important okay start with announcement assignment assignment means you want you want to assign your rights okay to your third party sometimes that your business changing you need right and the company to hold your business so you make sure that your agreement should have some right to assign your right to a third party or inter company this is one of concept do what I mean because contract is you and me contract if I assign it to a third party the third party is not part of we not part of the cont parties you can assign the right but you cannot assign your obligations so that for the manufacturer it's very dangerous understand the application is not assigned it means that the application to play not no more M think about this how five warranties right maybe say uh the service say you that all right you have the you have the right to commission us to do the production all right you can some logo what's that trar IP are you license they have St about that so they say you need a lot of say volunteer that I am the active person I have all the thing to commission you to do the contract to do the manufacturing is important of course right sometimes I don't want to put it because they do not ask and put take it away understand but say a very dedicated manufactured know so well answer is peace can we that you are entitled to use all thing to us for example ipy know how trademarks you ask us to apply a traar onto the port do you have the right please tell me can you show me and then you know that actually in China we have a custom custom that if using some the logo actually is not in China however it may still infin somebody's white over the world right the chem happy to assist this so let say they will ask have you file have you have you filed your trar with the Chinese customers one all right but actually you won't St up the mar here you won't all right but they may ask you for that this one can order right say oh come on say I have very good forecast that's the market is not so good can I cancel my order so then we need a clause that say you have the right to cancel order anytime before before production and this is correct sorry that right I want to make 10,000 pieces however that right something happen the market does not respon well I want to cancel my order or hold it okay so need a close to help you otherwise sorry that offer acceptance all right this very Val contract you can change anymore is correct all right important so we need and consal do you want people to make do all the thing away to use the thir parties well your lwh how your IP right your F the trade secret no you don't want even the even your price structure am I right you don't want people to disclose it without your consent you only want them to use it say as heard terms condition of this agreement you don't want them to use anything more than that so we need conditionality exclusion okay and then say sometimes your manufactur that no come on both side we disuss all our things to use for gentlemen so we need all right say disclosing party and then vising party not just seller seller seller seller right so they think about that sometimes you need a Bilal depending on the buing power of your manufacturer the third one day of contract the day contract is sometimes mless because the DAT contract does not mean the start of the contract you can start a contract few years ago but now we reach an agreement and we start it okay so there the DAT contract today but actually start years ago so the the day contract does not mean the commencement day of the contract okay be careful and then sometimes all right you you are a buyer you find that say you need some designated materials or you need some designated buyer why because you found that your manufacturer do not have such a big Power she have a database def find a A supplier they have some very thin material to make the contract or they cannot Supply in such a cheap inexpensive way they C much higher but you know somebody right can supply cheaper better quality maybe so that you need a designated Supply okay next one so for manufacturer is dangerous because you destinate is a p they have no contract the thing is that they have no with the manufacturer right they cannot making compin terms all right who have the right to inspect the thing how about the designated materials but do do this proi do not confirm with this cation what can we do all right you think about this a c things and then effective day is important the day contract is not important effect day is a commencement day of the of the contract okay and then say you don't want your your supp that gentlemen they are many agreements not just agreement all right so we need a clause entire agreement to said exclude all other things right before this agreement dated it is a way understand this Clause we use it to exclude any other written memorandum writing verbal anything I just make sure that disagreement is the only thing that we have don't say that you have a piece of paper which is inconsistent with the curve of this one okay because you don't know understand during a long negotiation period with the manufacturer you offer lot of f offer acceptance like this one do version and then at the end of the day you have agreement but signing that agreement you make sure that all right all the existing document got exact conditionality which should be included within the new agreement understand you have to make sure that all other things gone except NDA okay should be included in your agreement the new one this important and then we talk about say what's mean by right say academic failure say I think say doing manufacturing that I never find any company they have a very good definition of mean by academic failure academic failure making you to recall the prod and understand it's academic failure and then we must have the good cause it means that there there is Def doing to different problems however that is the same would cause all right which exist two times usually okay then the usual one and then we call is academic failure how to how to define it how drop it is very technical you must need somebody to know it very well you say say is a new on N right send people that make every one 10,000 say product say from here to to America get 14 days by by ship and then two more weeks all right on shell so they say the first day on the shell may be one month later already is it correct and then that say people have the academic field return and they study right what's the cause of the fade people turn why you make sure that academic here it is not for no farm right no Farm is not fair for the manufacturer is it correct but as a buyer you want it is it because for EU right for United States you need people they are feel to return they're very happy to return the fame they like it I just do not like it it's nothing wrong with the quality nothing wrong with the def thing like it or I try it I just like Co right dress fions I Tred once right return it get my money back so every Christmas Eve I have new party dress right without being anything it's correct you can do it because you canup the law sometime because it is we in some economics places they will entitle the the C the in user right as a a customer okay to return return without any excuse any Vision at all but however if you are manufacturer not if you buyer you want it how to put it you think about this and then we think about exclusivity right the product is generic generic product but however that you more the manufacturer do not do it for the third party I need this one I worldwide in China only you define however that say a man of you yes I can give you exibility tell me that was any volum okay if you fa to committ it right if you feel to order the any volume you drop your price so that they argu it understand yes we can ask excus ability B any I have it okay how many volume I want 10 sorry gentlemen no I want 100 million yes am I right that depends Vol tell you who got say I am going to safy that to you no maybe yes why on what term conditions right so they say for you as a buyers yes worldwide exclusive all right you cannot Supply to anybody except me all right but it does not all right limit me to buy from any other buyers but you limit to S to me but I can buy anybody is it correct you want that is it you are the buyer you want the visibility how that you also need say your seller complete the manufacturing capacity you reserve every else right when I need it to order you must combine you must make it right and then ter you have to talk of course right you talking with a small buy manufacturer they know nothing do don't know English at all anything that you put in and they recite it it's meaningless because when there is a failure they change the factory name and they disappear or they change fact name and then still there a new company what can you do you sign with the company you do not sign with directors you do not sign with an E representative all right so they say do you want to deal with the type of say people that they never read the contract design for you it's dangerous can tell you it's correct think about this okay about exist items right come on you give me a forast right and then they ask me toce how many how many pieces all right I have to do long time material you need material ammo c a lot of things all right and then they don't change sorry I changed my spe right there were engineering change notes right we do not use this material okay do cannot put the key for you forever right how to manage it so that whenever you want to have some of the M problem long time materials you need components all right for them what can you do for you just we have dve it or how to deal with them important if they not used for half a year or there's no shiing day we night N9 months how can we handle them at what price using what price right is the n price or the a p price you buy something that the historic things is correct first in first in of the right however what's the FH price all right s you don't want them to De the cross all right with some premium is it correct you compens you gentlemen all right yes you all you have some uh long time which have prod that what can we do for you all right sorry that them all right don't need to pay for them sorry that all right we want to charge you because we cannot find any other bar using the same component unique material it's correct they talk that and then say talk about say uh I think you coming from different parts of the world you know your own world your know your own law very well I insist that I'm using Italian law he insisted using the New York state law she insist that using English law that you think about that they are PRC manufacturer they Factory in China maybe a small village if something happen that isue them they do do not go to us they do not go to your home country to defense you have judgment can you enforce them sorry that Chinese Court do not enforce a foreign judgment think about this if you insist we need all right your hom stay law to govern the thing you may think about AR reg because China join actually a New York convention arbitration and arbitration AR can POS in China think about this okay if you really insist that I need my home country law to govern everything because I know it's so well so in that sense you think about I better use arbitration well than litigation because when you do that meaningless they do not go okay for obvious say actually China has very good Administration system uh we can use the we have say the the things or you can do the Beijing One Shanghai one and one okay actually the China international abration is very nice you do not believe it don't worry go to Hong Kong all right you can do it of not spitten yes you go to singapor yes okay if you cannot agree with a particular law try to use a third party country law understand however if you use a third party country law and un next you can you're showing people that on the contct terms otherwise you need to be gentleman you come from you use the word ital ital right can you prove that this is against or anything wrong with the Italian know you have been a legal expert to somewhere in the world to give evidence it's cost is I have exper that right we do with Japanese the Japanese is me right in to saying that Mr we appreciate your coming but that we are s the only thing that agree is Japanese law if you want to do it Japanese law sorry the LA Jack we go to go to LG we only accept ker law no other law sorry what can you do with that I think something thing okay uh I agree with the Korean law Japanese law but the thing is that can we talk about the for means the place of hearing the disp is okay is a can we do Administration do you think it is a neutral I agree Japanese law I agree Korea law let's go to H for OB region and then more thing no thing okay one more thing C option is a good place okay we go to Hong Kong for abration using Japan store or we say that no I don't like I really do not like abration okay if I Sho you a shoot in Tokyo if you sho me shoot me in Hong Kong think about that if you as a buyer you think about that if a manufacturing agreement for SAA for Sony for LG it will have a lot of difficulties if they something happen because it's manufacturing contract whenever something happen we a a lot of technical matter okay to testify and then they have to go to Hong Kong so costy all right if we go to Japan is easy because this only the buyer do not pay right the only two things in the world there as a buyer you will do number one you pay an order but you do not take you do not take a delivery or you do not pay that's it so they say if you are the buyer you sue them because of quality problem na shment say fail to comp this location def fact PCT all right even say was would cause of other problem you to prove in a foreign court if you agree what I say understand using jaese law is coming on yes if youi in Hong Kong so they say you being the need and expert of CH of Japanese law to Hong Kong and then you put all your take staff to Hong Kong to testify do I mean if I the I'm the seller I show you for what number one you do not take delivery I send you the bling you do not delery of that e in the pool you do not pay me the thing because the bank do not miss the payment is correct to S them in Japan is easier yes all right think about this so that when you deal with that of thing is important however if you are in China why don't you use Chinese law for me everything think that say we use Chinese law use a play where the manufacturer have most assess because number one if a small case I don't think the manufacturer can go through the back door of the judge office to get the things done no more easy I tell you China change very fast understand we say that in China right say uh the governmental office open from Monday to Friday from 8:00 to 5:00 or daily however that the back door open for 24 hours right we talk about that right is correct we talk about that always we make a j that but nowadays all right the J system change in China it's difficult to pry a judge understand in very obvious way difficult so they say using the Chinese C system is an advantage nowadays because your defendant they have the factory in that country so that if you win the case you can enforce the Judgment there do what I mean that's what you want don't ask them to go to New York come on they just disappear do not come what can you do understand if you sh them in China you Ser them and you the major Bank understand you sh you share the notice the major Bank the bank gentlemen what happened to you someone you so I want to borrow any money for you I want to withraw all9 understand the bank me that gentlemen this huge okay indication all right please tell me otherwise all right we will withdraw all your require the visibility so they say the manufacturer have no money to turn around anymore so they they will negotiate view compromise okay it will be more powerful actually do nothing think that I want to excape China it's not for EU think about that all right if you want some Advantage disadvantage we can talk but today I think it's not a big event to talk about thing in detail is it should uh I think sorry chines law J in by is the best answer okay so they say whenever you do D you need the business nicely check carefully Chinese are very careful they use the name in English but the the name in English does not corresponding with Chinese very important and also one more thing they ask you to pay the offal account saying that it change conditional policy understand if you to use a company to cont with you it is only one shareholder with 10,000 Hong Kong dollar one sh issue it only with One bank account in Hong Kong the money bear disappear you can not find them I put a lot of person looking for sment can you help me off that can you sorry that you you can report to police but you think that money gone disappear how can you find that the Hong Kong car has no ju for the P National in China if the P national do not go to Hong Kong they cannot ask them could you please go to the police station to give a statement you won't do it right the money SC disappeared sorry think about this in right how they indentify laws the laws actually talk about that say maybe some of the direct laws some indir loss some about economic loss loss of reputation loss of profit loss of sales what kind of thing you have to do Indy okay IND and then they're doing thing they Cod development of view they say that say who the IPI to home tell me okay you ow the IPI all the manufacturer one day you found out the man manufacturer they making similar product using similar IP okay with you if you do not have a clause to say that that IP belongs to me how can you stop them doing so how so we need this okay invention when we are doing that we have Cod devopment all right I don't think you have a p that already just ask oh yeah just do it ing to fact no you give them an idea am I right and then you have to you have develop together a lot of things all right during that process actually you find a lot of Ip Kno how say secret things maybe copyright industrial design they all come up to home okay who own it oh think about this a lot of passions all right yeah and limitation of liabilities for as a buyer you don't want to limit the liability peace inity me all all loss and damage am but the s in a story right say I only earn you 15% as gross profits 155 after DET everything I only have 5 to 8% as my net profit do you think that's un crazy okay to be happy that or are you you can K me is say 10 100 million by by actually only sell you $5 million do you think so no so they argue that right say some people that say what's the limitation they want to limit indirect cost they want to say that I want to set a cap it's the maximum that we can that otherwise we don't do it so so that when you f right I draw my agreement I ask my lawyer how can I do okay when when the lawyer coming back how can I respond a love trcks okay even they put it there right we have something okay to put say some rooms to m not so simple okay and this is no I do the things that Noy our thing can work our product will be call to the spe all right I do not respond I do not r that say fit for the purpose and what the what what's the hell your manufacturing you want that all your products to be corresponding with the vcation all right fit for the purpose all right no defective material and then say must be good vhip satisfactory imaginability all right you want that kind of thing no enement of IPI is cor you want that and then you also see that no l shipment and then you ship it with the same qualtity okay punctual shipment with the right quantity don't ship me five right at need 100 understand yes I ship it right five only but 100 need punctual shipment with the right quantity okay it's important yeah how about the IQ right they do not want the I they saying that right oh we doing the man proc only we the OEM we do nothing now we do not do Co cooperation we do not invent anything or you keep this SP and do it you may accept it if they really that type of manufacturer if not they have r& department they have 80 R&D Engineers all right to do your product if they do not warrant IP right what can we do all right they the check the IP right all right you know the IP is a back hole actually because we know it's the people apply for a pattern in the US all right it will not be published until 10 months later maybe one 180 months later so that no one knows actually say that one is p nied to be very sh all right when have actually development day all right we check it nothing Rich mon however the 9 months gone all right say we go to a mass production and we ship it all right go to the state and then half a years later that say we we received a letter from a law firm that saying that our PCT right in feing some right just okay so we have we have draw about this how to protect yourself not just at the day of the contract all day always doing the terms of agreement that no enement of any patter am I right not just the date as of the day of dis agreement we r that there will no infingement of any third party right that day understand we should be as of the day and during the terms of disagreement or any Ral terms of the day after understand we put it very specific think about this okay and then non condition all right don't want me right to do the same thing you don't want the product to be found another compor they do it to next say uh to next say Workshop okay to next Workshop do thing similar thing you like it you don't like it all right no certification all right oh come on all right they they know it all right you know the customer to them and then they contact the customer and they said oh we supp find cheaper faster okay better terms do with us yeah so that you don't want that happen so you need to C Clauses to help you all right and then about say when you changing your product say which say uh we call it say product n right EOL right end of life okay a product and how tours how op material how handle them you need to to take care of them as a buyer and also as a manufacturer yes the agreement is very nice but you do have some CA to deal with OP material tooling how can I how can I manage them you cannot make my my workshop is like a Tom of a Tom of tools instead old tools you guys I there know it all right our we have some o which is more than two stand swimming pool already two stand swimming pool all are the old toolings but our customer never authorized to destroy the or dispose of them what can we do all right for us you keep it as long as possible and then you Ure them if damage we sh you am right as the buyer we do that right you have the right or as long as it do with you that you keep in the right pay and stand it with the name of a company it is not belong to the third party you can use it for any third party purpose is it correct you do it in that way however no inal sense right the product change very fast touring will not be very will change all right yes the coming toing there was some specific or unique touring you can there no use up second generation so we think about how to handle Fe storage yeah a no we CH with that right yeah option how can you define all right yeah some definition you think about it okay otherwise how can you do with a manufacturing agreement some agreement will be threee pages if each dealing with a PC lawyer they they drop you a manufacturing agreement in three pages some agreement that I've seen and we draft more than 100 pages and some of the some of the agreement that with a 45 to 30 maybe say 7i m agreement and then with 500 pages supplements okay and we have to copy 10 copies for 500 pages and the other St right to p it and then combine it together and designed by the CEO Page by Page no they have right yeah I have I have experien that of things before right yeah you think about this of thing very funny right yeah I'm That Kind of in fact 20 years okay and then parties right the business license you have with right Chinese name English name and then you should actually have a vis attached to the agreement otherwise you couldn't find it out anymore all right say for a buen buyer a lawyer right or the buyer in that please right have a copy of the business license of the manufacturer attached to the agreement all right this way to make sure that you won't SHO to a wrong party in case something happen and the payment days or credit say TT right how month end how many days right other TCL some of supp they will die because they they pay them say about 250 days later all right do you know what I mean because if you supp go to a PLC big company usually very long payment terms half a is very very common 90 days is really rare already 30 days is no say 45 after month really rare okay they need at least from 90 days half a year because actually put to bank to discount it us they have the they have the order payment day and then say there supp they got this thing and they go to the bank and discount okay for for for for cash okay they don't mind okay think about some R right you are the buyer then do you want your buy your R to be used by the by the seller no the seller same thing all right we are doing the C in for 40 years right you have one product here and you have all our right cannot we have to exclude all our excluding ex the existing right okay so that the new fame which is a for V your product yes okay if you pay as for different fee yours okay if you do not pay how to advertize if you cannot do it all right f a story how to do it is say 5050 how can we do it am I right you f it yeah the price all right you want that the P ENT To Be steady for one year however that all right currency fracturation sures in plastic material copper all right they all are the major costs of the product so they very C sensitive right the La cause in China right changes every year China is no more cheap actually I can tell you uh up since 2008 China labor cause is higher than Malaysia already okay we are not providing ship labor to the whole world anymore it's very expensive China is more expensive than Malaysia since 2008 and it's a part of is insult because uh you know that no one want your boy and girl to fact boy and girls anymore okay so this say unless people from a very remote place in the mountain area they have three or four kids all and they send the keys to the town and they go to the factory they are the only source so they a having labor shortage is important in China so this how China actually when you're doing manufacturing about that say Tye of say Automation and they not labor intensive industry L of a labor intensive company uh company out every year they only want startup Innovation big Corporation with a lot of Revenue tax right they want that they do not want this smart Factory or 30 staff right nebor no they don't like that anymore no more welcome okay how would that say pirate agreement that when you want to exclude right some pirate agreement the P right you you drop it right uh we have a very B idea however that should change that before the the product go to mass production sorry that no more go finish okay and then say the S can you coms for the N nor the current expenses we have a big team of 30 engineer on your project looking for 9 months am all right some cost we have encourage peace come as is to us for you no no no no right so they say that me who are your counter party who are are they a very small manufacturer they never know or they having very good experience they with different atttitude on this okay think about this ipy right say people say that I give for you you pay for me by the time I sign my right to you so that you can defate me for you know I'm I'm the buyer I engage you to do the development I engage you to do everything don't tell me that all right your your product right your idea in someone's idea even as steal your liity all right you feel in that way how about quality all right you need say the engineer team to drop it I'm a lawyer I know a lot of things but I'm not engineer I need some expert people to teach me how to drop some claes me meaningful because a lot of say QA say director ask assim right can you just QA agreement for me I'm sorry I do not do that of things you need your engineer sit down to talk me what you concern and I can jop by work I cannot jve for Quality agreement and nothing drop test how to do it all right P tax how to do it all right sampling sampling how to do it P shipment inspected how do it what's the patch quantity how to reject each P what's mean by all rejected why tell me it is your criteria all right so you need a technical staff to tell a lawyer who can drop with you or you make some of the basic thing that you are in your language and the lawyer to polish the language you usually like this okay a good cause right what's my cause here means the cause that cause a something really happen all right and you have to recall so [Applause] ipy they have to gr exclusive right that you can use in your in your in your product because your product incorporates some right of your of your seller and they say the spend mon all right our R have some Realty will you please give me $2 us for each item because we have charge you yet the price does not include any IP licensing right okay so they make sure that no you give me nonexclusive transable sub liable all right pay up all right forever long is it correct you think about it is that way how the buyers they sell production all right they R they voluntee right and then they cannot do something they cannot sub contract to third party even sometimes you you n them to to contract because for manufacturing we have horizontal manufacturing we have vertical manufacturing no supplier can do everything by themselves from a school to a hinge to the to the uh finish school it's not possible for one person do all and right you need a lot of suppliers you need people to do subcontracting for component for wi from something that you need for subcontracting and also facturer you not have capacity on something like stamping for the peep season right was sub Contracting all right to somebody if you allow them to do it all right you make sure that the cause w we allow you to but you are UL timly responsible for any liability because of the subor we need that okay we need to C of clause to put that you we going to finish finish you right survival course the con say that for three years gone and then everything gone no we need to jve right the cont ends however that your obligation will not end understand forever but the say that no forever cannot how can I keep my say obligation forever you position two blush how how long you us to blush three months right maximum one year said you tell me that the brush you P claim me you use to BL to Plus for 10 years so we need some obligation must gone right as a buy you want survival okay the contract and terminated but all obligation okay being as a seller will not say will not terminated it will survive okay we need that cause okay something that all right if cont ends all right and then people report a is will be cool we still can ask them to come and say you you need a say a c problem that say people Sho you because of say a defective say coffee maker for example all right is you in a c all right because the product actually go to your CT will be a few years later okay even the contract ends 2 years before but that still used I'm using my confer for seven years already uh it's a phips okay it's reli I make by my existing company not EAS yeah okay but I can tell you that some uh my I have only work for two manufacturer one is an oem manufacturer and one is TCL that one right they make one model so like Mr Coffee right one model 4 million unit a year that's big understand that's huge all right they are making coffee maker just coffee maker I do not metion other prod just one product for One customer for one model they can make 4 million units a year must be very reliable otherwise they all bankrupts is it correct yeah uh when I joined the company actually they were 35 years old I think they are 50 years old now the company 50 years in Hong Kong okay and in the terms right do you want a a contract with a term that a five term or say a fe time and then it will automatically renew for another year each after all right the first contct term finish expired okay you need that to have you don't want every year or every every two years to start all the contract again is correct all right the company perspective because someone just forgotten to sign contract fail to De I have experienced so much right and then a lot of company they makes a five year four year contract and and then say 10 later you still have the same contract never R it me no contract so when there a problem they want to shoot the manufactur no contract and say that oh the could been saying that sorry that is [Music] fire understand to make sure that contract always valid okay even the contract say expired there will be some survival terms that you can r on and Sho your manufacturer okay waranty by sellers all right we say that say no war that all right the product should be right good design material manufacturing say cmhip all right no inment of say uh uh ipy we do not say in which IP Fame we need for a warun we need it all right and then say some point before we end the mo contract of the manage say they need the mo right but our our buyer ask us to give them the 3D 3D files if you have a 3D file actually you can ask any mode make it to make the mold as the manufacturer they're unwilling to so how can you define all right so you need someone Define very carefully and then you can B your FD Val okay and then for the point like insurance right how much is necessary right because you need it you don't want to burn you a brain name owner you have your own port bi insurance but you don't want to burn your own policy am I right whenever there's any problem you want to burn your manufacturers L first to burn down not yours oh I can use mine sorry all right if you pay a lot of compensation and then the next five years you will pay more insurance premium you think about that you pay it eventually okay don't BR that oh come on all right we have insuring company insuring company are the animal you raise them they will buy you am I right they are taking the premium every year they pay little but they they get a lot of money from you it's true all right Global Insurance US market all right very dangerous okay China Market is easy to do it and then the payment rate is very little all right you go to us go to Australia very expensive yeah you think about this and then think about the consigned materials right who do the inspection all right I give you some of the consigned material what is the what's application of the manufacturer to put in somewhere or who who got the property do you have say say incoming inspection all right how to mixure that all right it's important and then so they and then terms and condition of a PO as well we have Master agreement but we have if if your manufacturer never sign any agreement the ask the master of you try to use po terms to buy there it's the only way you can do so you have if you do not have your manufacturer toci a very comprehensive Master with you as a favorite women you make sure that you have a very good say PO with good Standard Time sols okay which you send them they do not sign you send them they do not sign you send them they never sign back you send they SL back all right but however that they make the goods every time they make the goods every time so that we want to establish it is a consistent dealing okay to make sure that all the time actually Incorporated sorry am I right yeah think about this I am finishing my thing now but I have couldn't tell that one thing I'm writing the leg story because assign say and then it going to PO at the secondary if you like it all right can go it's the link all right here say uh I have a plan initially for 50g articles now today I publish the 13 13 and then say uh if is people like it all right I mean why to might more two more years maybe three years to make sure that I have more than 150 some articles to publish in a book all right in the book that Say in any airport all right people found my book I think be nice interesting article have everyone here read my Arles before you did do you think it's interesting funny right and make it in the funny way short way and then people that understand easily thate of story actually be any content in Chinese La that maybe you can you can have daily account maybe something that very specific coroporate law maybe talcy law maybe civil law Maybe family law anything understand so uh the idea is not coming from me honestly because I have been working for H and then I have a team of 47 postgraduate student to help me to find out everything and then they put the thing in Chinese and the I'm the person that who redraft rewrite everything into English I idea coming from a team of 45 PR graduate student from from fan University okay and then they I propose to public them give them hint and then they write to me and then I give comment on how to do it and they event actually they have the English Chinese okay and then I publish in English and they say I have to rewrite the thing and then I found that they're not so so humorous understand Chinese student is not so humorous and I have to put into a very humous way people read okay happily easily to go through is important I'm not writing academic thesis dissertation that people don't want to read it the all right only superise to read it right it's meaningless I want the people that understand the chines law easily that's the way I'm writing my articles thank you so much for today coming all right thank you so [Applause] [Music] much