Pledge Contract (Security against Sale with Delay of Payment)

Riga __ _______ 199__

Enterprise ______________, registered number LV ________, hereinafter referred to as The Creditor, in the presence of director general ______________, acting on the basis of the Statute of the enterprise, on the one hand, and enterprise _____________, registered number LV _________, hereinafter referred to as The Debtor, in the presence of director ___________, acting on the basis of the Statute of enterprise, on the other hand, have concluded the present contract as follows.

1. SUBJECT OF THE CONTRACT

The present contract is a security of sale made by The Creditor to The Debtor with delay of payment. The sale on amount of ______ (VAT is included) is made under the contract No ____ dated _______. …