TThe royalty fees shall be paid to exporter at the beginning of the following year by the technology Recipients if the technology Recipients does not meet the delivery volume according to the above estimated delivery plan mentioned in this contract.
Technology Recipients shall fax the calculation report for the royalty fees of the contractual product to the Exporter within first 10 days from 1st January in each calendar year.
Technology Recipients shall pay the royalty fees in USD by T/T to the Bank account appointed by Exporter within 30 days after the calculation report for the royalty fees has been confirmed by Exporter. The first duration of calculating royalty fees will be the duration from January 1st, 2015 to December 31st, 2015.