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WMB Underwriter Agreement

Place of agreement: "Minsk",

Date of offer: "20 September 2006".

JSC "Technobank" represented by President Khlopitsky Viktor, acting on the ground of Regulations, on the one part, hereinafter referred to as the "Underwriter" and any other party that has accepted this Agreement hereinafter referred to as the "Holder", on the other part, collectively referred to as the “Parties” have concluded this Agreement as follows:

1. General Provisions

1.1. This Agreement hereinafter referred to as the "Agreement" shall regulate the order of selling by the Underwriter of e-money (electronic money) to the Holder, its usage and its further byuout by the Underwriter.

1.2. The Parties shall hereby acknowledge and accept that electronic documents made up using WebMoney Transfer system tools (namely acts/statements of acceptance/delivery, purchase agreements, accounts, account statements) and signed with handwritten signature equivalent have legal effect equal to that of respective documents executed in simple writing form, under the condition of positive authorization result. The authentication of the Holder is carried out by means of individual identification number, key and password of the Holder generated by WebMoney Transfer system tools. The Parties shall hereby also acknowledge and accept that the documents signed with handwritten signature and sent by means of facsimile, and scanned copies of documents sent via e-mail have legal effect.

2. Subject of the Agreement

2.1. Pursuant to this Agreement the Underwriter shall undertake to transfer to the posession of the Holder a certain amount of e-money, and the Holder shall undertake to accept this property and pay for it a certain amont of cash or make a bank transfer. The Holder accrues the right to use e-money via WebMoney Transfer tools in order to make bargains connected with payments for goods (works, services) and other transactions, not contradicting the legislation of the Republic of Belarus.

2.2. The Underwriter shall undertake to assume absolute and irrevocable obligation to buy out e-money sold to Holders.

3. The Order of Selling E-money

3.1. After creating an electronic purse (hereinafter referred to as "E-purse") the Holder shall aquire e-money on his/her choice either in branches of the Underwriter or its representatives for cash, or makes a bank transfer equal to the face value of e-money, including via Underwriter's pre-paid card (scratch cards). When adding or transferring funds the Holder must correctly specify the unique number of e-purse (it corresponds to the Agreement number).

3.2. E-money are transferred to the Holder's e-purse during working hours of the Underwriter not later than the next day in the amount and currency of funds, received by the Underwriter.

3.3. E-money are issued without expiration date.

3.4. Acquisition and transfer of ownership for e-money shall be verified by WebMoney Transfer system tools by registering acts/statements of acceptance/delivery, by which the Parties accept transaction records (hereinafter referred to as "Transaction records"). Transaction records acknowledge the amount of e-money, which belongs to the Holder on the basis of ownership right.

3.5. The scope of claims of the Holder in Webmoney Transfer system, acknowledged by e-money ownership, is reflected upon Holder's accounts by the corresponding amount of WebMoney title units of 'B'-type (hereinafter referred to as "WMB") equal in value terms to the amount of e-money, which belongs to the Holder on the basis of ownership rights.

4. The Order of E-Money Usage

4.1. The Holders are entitled to use e-money for making payments to trade and service enterprises (hereinafter referred to as "TSE") accepting e-money as means of payment for goods (services) and also for other civil transactions in accordance with the legislation of the Republic of Belarus.

4.2. When transferring funds from the E-purse of one Holder to the E-purse of other Holder, the Underwriter charges a fee from the transmitter according to the rates of the Underwriter

4.3. The Holders have the right to fill in and verify the contents of information fields in used forms electronic documents indicating certain conditions (purpose) of the negotiated transaction (sale-and-purchase acts/statements, sales vouchers, etc) in accordance with the requirements of the legislation in force.

4.4. This Agreement does not affect or change the conditions defined by the parties for the transaction and relating to the conditions of goods delivery and/or sales (works, services), their quality, etc.

4.5. The liability for complying with the legislation and bank rules shall attach to the participants acting as transaction parties.

5. The Order of E-Money Buyout by the Underwriter

5.1. When the Holder presents e-money for buyout the Underwriter shall redeem them or exchange them for cash in office of the Underwriter or its representatives, or transfer funds to the current or other bank accounts, specified by the Holder. The Underwriter charges a fee from the recepient of the funds according to the Underwriter funds.

5.2. The Underwriter shall buy out e-money without any expiration dates.

5.3. The obligation of the Underwriter to buy out e-money is considered as satisfied from the moment: when the Underwriter has given out cash, transferred funds to the current (operating) account with the Underwriter or debited monetary resources from the Holder's account to the advantage of the beneficiary specified by the Holder.

6. Underwriter Rights and Obligations

6.1. The Underwriter is entitled to:

6.1.1. To suspend the usage or buyout of e-money, if the execution of the corresponding money claim is impossible or can lead to violation of the legislation or bank rules. Shall the Underwriter withhold e-money buyout, the Underwriter shall immediately inform the Holder by stating the reasons for it;

6.1.2. To refuse the Holder to use or buy out e-money in the event of negative authorization result or money claim is composed with violation of composition rules, including when the sum, specified in money claim, exceeds the sum of e-money available to the Holder;

6.1.3. To charge a fee according to the Underwriter rates;

6.1.4. To make, at its sole discretion, changes in this Agreement and Underwriter rates by notifying the Holder no later than 10 (ten) days before the changes shall come into force and publishing the corresponding information in electronic form on the web-server of the Underwriter;

6.1.5. To repudiate this Agreement, at its sole discretion, in the event of revealing unreliable information provided by the Holder with the aim of executing the conditions of this Agreement.

6.2. The Underwriter must:

6.2.1. Notify the Holder about suspension or resumption of money claim;

6.2.2. Introduce to the Holder possible risks of buying, using e-money and e-money buyout by the Underwriter;

6.2.3. Enforce requirements and conditions of the system of electronic document workflow;

6.2.4. Delegate e-money ownership rights to the Holder by making a transaction record, verifying the delegation of rights to the acquired e-money, to his/her requisites, no later than one working day from the arrival time of payment under this Agreement;

6.2.5. Upon a written application of the Holder, within three working days provide paper copies of acts, certified by the signature and stamp of the plenipotentiary representative of the Underwriter.

7. Holder Rights and Obligations

7.1. The Holder has the right to use e-money for making payments to TSE accepting e-money as a means of payment for goods (services) and also use e-money for making any other civil transactions in accordance with the legislation, within the amount of e-money available to him/her.

7.2. The Holder must:

7.2.1. Observe the conditions of this Agreement and requirements of WebMoney Transfer system;

7.2.2. Pay fees to the Underwriter according to the Underwriter rates.

8. Liability of the Parties

8.1. The Underwriter is not liable for any loss resulted from the failure by the Holder to comply with the conditions of this Agreement.

8.2. The Holder shall bear the risks of loss in the event of loosing control over his/her E-purse.

8.3. Neither party shall be liable for partial or full default in performing obligations under this Agreement if such default is caused by circumstances of insuperable force, which had arisen after the Agreement came into force, as a result of force majeure beyond the reasonable control of the party whose performance is affected.

8.4. The Party first discovering the Force Majeure event must be obliged to notify the other Party about the appearance or determination of circumstances of insuperable force, which prevent from performing obligations under this Agreement, dates by which performance obligations are scheduled to be met will be extended for a period of time equal to the time lost due to any delay so caused.

8.5. The Underwriter shall not be liable for any failure to satisfy any conditions of the transaction, defined by the parties of the transaction, except the cases when it is proven that such failure was caused by the Underwriter.

9. Term of Validity and Procedure for Termination of the Agreement

9.1. The Agreement comes into force when the Holder accepts this Agreement via WebMoney Transfer system tools during the registration process of new E-purse.

9.2. The Underwriter has the right to cancel this Agreement at its sole discretion in the following cases:

9.2.1. When the Holder disapproves the changes in the Agreement, including changes of Rules, under the condition, that the changed information is published in electronic form on the Underwriter web-server no later than 10 (ten) days prior the date they come in force. The Agreement shall be considered cancelled from the date (time) the Underwriter receives a notification of the Holder in accordance with the order specified in this Agreement.

9.2.2. In the case the Holder violates obligations of this Agreement, and if such violation entailed any loss to the Underwriter or created, according to the reasonable opinion of the Underwriter, obstacles for safe functioning of the electronic document workflow system. Upon that the Underwriter shall undertake to perform actions notifying the Holder about the fact of violation (notification by e-mail, blocking access to the system, etc) no later than 30 days from the moment the violation was discovered, if otherwise not stipulated by the necessity of analyzing the act of violation and its effect on the electronic document workflow system on the whole. The date and time of cancellation of this Agreement shall be the date and time of violation of conditions of this Agreement or later at the discretion of the Underwriter.

9.3. The Holder has the right to dissolve the Agreement by sending the corresponding electronic document or notice in writing. Upon that the Agreement shall be considered cancelled from the date (time) the Underwriter has received such a notice.

9.4. By sending the notice about the cancellation of the Agreement, the Holder shall undertake the obligation not to perform any transactions with e-money and not to launch his/her copy of E-purse, from the moment the notice has been sent. In the event of failure to comply with this obligation, documented by the Underwriter (by electronic documents) with the analog of Holder's handwritten signature, the Underwriter shall be discharged from any obligations to the Holder under this Agreement.

9.5. Prior to sending a notice about the cancellation of the Agreement to the Underwriter, the Holder is obliged to redeem all available e-money.

10. Holder Statement

By this I acknowledge that I have read and understood the conditions of the Agreement with the WMB Underwriter, WebMoney Transfer code of conduct, the Rules of consummation of transactions and their usage.

By creating electronic purse I accept this Agreement.

I request permission to receive electronic money to add funds to electronic purse.

11. Legal Address and Underwriter Details

Underwriter: JSC "Technobank"
Legal address: 4 Kropotkina str, Minsk, Republic of Belarus, 220002.
Bank details: Correspondent account in the National Bank of the Republic of Belarus - №3200001820015
President: Khlopitsky Viktor
Phone: +375-172-37-43-94
E-mail: support@wmtransfer.by