Article 1 (Purpose)
This User’s Agreement (hereinafter called as “Agreement”) intends to define all matters, conditions and procedures of use to comply with in making an application of credit evaluation on the financial condition of a client (hereinafter called as “Client”) by the Client to the Nice Information Service Co., Ltd. (hereinafter called as “NICE”) and evaluating it by NICE..

Article 2 (Definitions)
The definitions of the terms used in this Agreement shall be as follows:
1 'WORLD e-CREDIT service” means the service which NICE provides on online by evaluating the credit evaluation requested by the Client or the information service which NICE provides.
2. 'ID' and 'Password' mean the combination of letters and numbers which NICE provides for the identification and verification or the Client selected when the Client uses the World e-Credit Service.
3. The corporate credit evaluation (hereinafter credit evaluation) means to set the rating of credit evaluation by evaluating the overall financial conditions including the managerial position, timely debt service ability on financial liabilities of evaluation object company, etc. and the criteria of it shall be decided by NICE.
4. 'Notification' means the information which is provided through World e-Credit Service.

Article 3 (Scope and Change of Agreement)
1. Contents which are or to be attached in this Agreement and announced by the “Notification” of World e-Credit Service shall constitute and be effective as a part of this Agreement.
2. NICE may amend provisions of this Agreement subsequently, if intends to amend the provisions of this Agreement, shall post them to the notification of World e-Credit Service and such amended provisions shall be enforced when it takes 2 weeks from such a notification.

Article 4 (Application and Approval of Service Use)
1. The use of World e-Credit Service shall be made by the sing up at http://www.WORLD ECREDIT.co.kr or the preparation/submission of the application of use in writing or through a computer network and the approval of NICE.
2. NICE shall grant the unique ID and password to the Client on signing up of the Client.
3. When there is any change of information at the time of sing up, the Client shall inform it to NICE immediately.

Article 5 (Management of ID and Password)
the Client shall manage so that ID and PW of the Client may not be disclosed and be responsible for any damage or loss arisen from the illegal use of the information service, etc.
Article 6 (Restriction of Service Use)
1. The Client shall not provide, sell or disclose to a third party by copying, duplicating or modifying the materials searched by World e-Credit Service.
2. Unless otherwise approved by NICE in prior writing, A shall not store or preserve the searched materials at the computerized equipment.
3. Notwithstanding the above clause 1 and clause 2, the materials of the user shall not be restricted for its use.

Article 7 (Provision of Information)
NICE may send the various information which NICE considers required for the service use or materials for the promotion of other products and services, which NICE sells through means such as e-mail, or mail, SMS, telephone, etc.

Article 8 (Credit Evaluation Fee)
the Client shall pay the amount of credit evaluation fee in full on the application of the service, which shall be in accordance with the criteria determined by NICE.

Article 9 (Lead Time for Credit Evaluation)
The lead time of rating evaluation means the period from the final receipt day of materials which the Client shall submit to the date of report issuance and it shall be within 10 days in principle.

Article 10 (Base Date of Credit Evaluation)
The base date of credit evaluation shall be the date when the credit rating is finally decided which shall be in accordance with the credit rating of NICE.

Article 11 (Cooperation in Credit Evaluation)
1. the Client shall submit documents as follows for the credit evaluation performance by NICE.
① Company information sheet which the Client prepares in the form provided by NICE
② Financial statements of the Client for the previous three years
③ Copies of VAT return for the recent 4 quarters
④ Other documents which NICE requests
2. When NICE requests the submission, access, explanation, etc. of general data related with the credit evaluation in writing or orally, the Client shall respond to such a request.
3. When NICE requests the interviews with the management or employees of the Client in performing the credit evaluation, the Client shall respond to such a request.
4. the Client shall keep the truthfulness in providing the materials, explanation, etc., and provide any material or information which can affect the credit evaluation without the separate request of NICE.
5. When NICE suffers from any tangible or intangible damage or loss due to the materials, information, etc. with materials errors or false preparation, the Client shall be responsible for such damages.
6. the Client shall indemnify, defend and hold NICE harmless against any damage or loss including all cost and expenses thereof, arisen from the act, suit or proceedings by the person who received the results of credit report since the Client made the false documents or provided materials, information, etc. with material errors.

Article 12 (due diligence)
When NICE intends to take due diligence on the head office, plants, etc. of the Client related with the credit evaluation, NICE shall give a notice of the schedule to the Client in advance and the Client shall provide the conveniences such as the office, arrangement of interviews, etc.

Article 13 (Notice of Credit Evaluation Results and Re-Deliberation )
1. When the Client has any objection on the results of the credit evaluation, the Client may request the re-deliberation by attaching the evidence materials in the document which contains the purpose and reasons without one business day from the date when the Client received the notice of results.
2. The lead time for the re-deliberation shall be within 5 days from the receipt of evidence materials. But such a period may be extended by mutual agreement.
3. The base date of the credit evaluation may be subject to change according to the re-deliberation.

Article 14 (Expiration Date of Credit Evaluation Rating)
1. The expiration of credit evaluation rating for the Client which NICE evaluated shall be a year from the date of evaluation but shall not exceed more than a year and a half.
2. When NICE considers the financial condition of the Client is required even before the expiration, the current credit evaluation rating mat be changed or suspended of its validity or cancelled.

Article 15 (Credit Information / Rating Reference and Use)
1. If required by NICE in relation to the credit evaluation, NICE may collect and use the financial transaction situation of the Client, etc. from the Korea Federation of Banks or financial institutions which have businesses with the Client and provide the materials which NICE collected and analyzed to the Korea Federation of Banks, etc.
2. In case of clause 1, when any consent of the Client is required in writing for the collection of materials, the Client shall cooperate in actions required for NICE to get the materials.
3. NICE may provide the credit evaluation information and rating of the Client as the reference materials for decision-making by the public agencies to such public agencies.
4. the Client agrees to the actions specified in clause 1 and clause 3 and shall not raise any objection to the institutions to which the materials are provided in relation to this.

Article 16 (Restriction on Use of Evaluation Confirmation)
1. the Client shall not use the credit evaluation rating confirmation for other purposes than the evaluation purpose or institutions.
2. If the Client does not provide the credit evaluation rating results to the Public Procurement Service and other governmental demand institutions as the rating-related information, the Client shall not use the credit evaluation rating confirmation.

Article 17 (Refusal/ Cancellation of Credit Evaluation)
1. When NICE considers the fair credit evaluation is difficult due to reasons as following, NICE may request the correction.
① When the materials submitted by the Client are made with material false or errors
② When the Client does not the obligations under article 8 (Credit Evaluation Fee), article 11 (Cooperation in Credit Evaluation) and article 12 (Due Diligence)
③ When the Client does not provide the cooperation required in the credit evaluation of NICE or the Client delays the credit evaluation works with the unilateral assertions without grounds.
2. If there is not any separate measure of the Client for the request of correction, NICE may refuse the credit evaluation or suspend/ cancel the validity of existing credit evaluation rating.
3. NICE shall not be responsible for all matters which can arise from the credit evaluation refusal of the Client under clause 2.

Article 18 (Compliance of Public Disclosure and Regulations)
1. Without the prior written consent of the Client, NICE may not provide to a third party or disclose to the public the materials as follows;
① Financial information under the financial statements of the Client or materials which analyzed/ processed therefrom
② General information on the business situation, market conditions, outlook, sales, etc.
③ Credit rating and opinions on the Client (including detailed information and reasons of the rating change, suspension and cancellation)
2. NICE shall manage the data, materials and information disclosed by the Client in accordance with the related regulations including “Act on the Use and Protection of Credit Information''.

Article 19 (No Request on Return of Submitted Materials)
The materials which the Client provided in relation to the credit evaluation shall not be returned.

Article 20 (Confidentiality)
NICE shall manage the data, materials and information provided by the Client related with the credit evaluation with the fiduciary duties.
Article 21 (Withdrawal of Credit Evaluation and Refund)
1. the Client may withdraw the application for the credit evaluation within 2 business days from the date of application and payment of the fee including the date of payment and in this case the fee shall be refunded in full.
2. The credit evaluation shall not be withdrawn after 3 business days including the date of the credit evaluation payment.
3. If the application is cancelled due to the situations or reasons attributable to the Client or NICE take measures such as refusal of credit evaluation in accordance with article 17, NICE need not refund the evaluation fee.
4. If this application is terminated due to reasons of NICE, the evaluation fee which NICE received shall be returned.

Article 22 (Responsibility of Damages)
1. The purpose of credit evaluation performed by NICE lies in providing the objective and fair evaluation on the financial abilities of the Client in business transactions and not guaranteeing the credit of the Client.
2. NICE shall be only responsible for damages arisen from the intention or gross or gross negligence in relation to the credit evaluation works but the extent of damages compensation shall be limited to the evaluation fee received from the Client.

Article 23 (Effectiveness and Termination)
1. This Agreement shall be effective on the Client’s agreeing to terms and conditions herein and requesting the evaluation.
2. Either party may terminate this Agreement due to the unavoidable circumstances of the party by consent of another party.
3. If there is any measure such as the refusal of credit evaluation in accordance with article 17, this Agreement shall be deemed to be terminated automatically regardless of a separate expression of intension.

Article 24 (Indemnity)
1. NICE shall not be responsible for any suspension of World e-Credit Service due to unavoidable reasons, such as natural disasters, national emergencies, fire, etc.
2. NICE shall not be responsible for disadvantages which the Client may suffer from due to omission of the notice under article 4(3).
3. NICE shall make best efforts for the accuracy of World e-Credit Service but does not represent or warrant the accuracy of the information which NICE provides as well as shall not be responsible for it. But if there is any intention or gross negligence of the NICE side (including the assistants and employees), it shall not be so.
4. NICE shall not be responsible for any information service delay or suspension due to the system failure arisen from the intent or gross negligence. But if the system failure is due to the intention or gross negligence of NICE, it shall not be so.
5. NICE shall not be responsible for if the information is provided differently from facts due to the intent or gross negligence of a third party.
6. NICE shall not be responsible for any results of judgment or actions using the OF provided in accordance with this Agreement.
7. Since the burden of transmitting the rating on the credit evaluation for submission to the public agencies shall be borne by the Client, NICE shall not be responsible for any problem according to the change of evaluation base date arisen from non-transmission to NICE by the Client.

Article 25 (Supplementation)
Matters not specified in this Agreement shall be decided by mutual discussion.

Article 26 (Responsibility of Assistants)
Actions which the messenger, agent, representative, officers, contractor and other assistants of each party made shall be considered actions of such a party.

Article 27 (Jurisdiction)
Any dispute or actions which arise from or related with this Agreement shall succumb to and resolved by the jurisdiction of the court which governs the address of NICE or the Seoul District Court.

Article 28 (Notice)
1. The expression of each party’s intention required, arisen from or related with this Agreement shall be deemed to be effective when delivered to the address of the other party set forth in the first contract in writing.
2. If any party hereof changes the address after the date of this Agreement, it shall be notified to another party immediately.
3. When any party which changed the address and another party does not know the change of the address since the party which changed the address did not inform it to another party, the notice related with a contract in accordance with this Agreement shall be effective after 2 days from the date when the expression of intention for changing the address is sent to the address before the change.
4. When the address of a party does not exist anymore, the expression of intention shall be deemed to be effective from 2 days after the date of sending a notice which contains the expression of intent to the address of the party at the time of this Agreement (the final address if the notice of address change was given in accordance with article 2.

Article 29 (Conversion into Credit Diagnosis Sheet)
When the credit diagnosis sheet is converted into the credit report for the submission to the public agencies or private companies, the base date of credit evaluation rating arisen form the conversion shall be the date when the credit rating is issued finally and the criteria shall be in accordance with the criteria set forth by NICE.

Article 30 (Transmission of Credit Evaluation for Public Agencies)
The credit report for submission to public agencies shall be transferred to the Public Procurement Service and other public agencies according to the request of the Client and be available only through the website of World e-Credit Service. Also NICE shall not be responsible for the problem of evaluation base day change arisen from failure of requesting the transmission on the date of evaluation by the Client.

(Addenda)
1. This Agreement shall be effective from the date of this Agreement announcement.

O Collection of Computer Information

World e-Credit Corporate Credit Evaluation collects the specific technology information from a computer whenever a visitor requests a page during the visit of World e-Credit Corporate Credit Evaluation. This information is collected from the web browser or ActiveX control of a computer and includes the IP address, operating system, web browser software, hard disk serial number, MAC address of the network interface card, etc.

Using this information, World e-Credit Corporate Credit Evaluation make the convenient service use of a user available including the automatic login, personalized menu, etc. by identifying the user. But this information may not be collected when the installation of ActiveX control related with the web browser. When the user wants to refuse to install the ActiveX control installation, the smooth World e-Credit Corporate Credit Evaluation may not supported.

World e-Credit Corporate Credit Evaluation only uses the personal information of members to the extent noticed in <Collection of personal information and purpose of use> and does not use beyond this extent or disclose to others or other institutions.

But if the user agrees or there is a due request from government agency in accordance with the related laws, it shall be applied.

Any member who signed up the membership of World e-Credit Corporate Credit Evaluation, such a user may access and modify his/ her personal information at any time. When a user wants to access or correct the personal information, access or correct it directly by clicking the <Member information Change>, or please contact the personal information management Officer or by e-mail.

When a member requests correction of personal information error, the applicable error shall not be used until and as long as the correction is completed. The access or correction of personal information may be made at any time and the changed information shall be applied on completing the change procedures.

World e-Credit Corporate Credit Evaluation is making efforts of protecting the personal information of members with the unique solution of World e-Credit Corporate Credit Evaluation in addition to the security solution provided by the first class security company in order to prevent the illegal distribution of individual members’ personal information by hacker, etc.

But in addition to the efforts of World e-Credit Corporate Credit Evaluation, the users’ efforts are required so that personal information of members may not be misused by a third party. The user shall strictly manage the PW first to prevent his/ her personal information effectively. Only the user knowing the ID and password can access the personal information and be responsible for keeping the password, etc. as secret. If the user disclosed the password, World e-Credit Corporate Credit Evaluation is not responsible for it.

Besides, the user shall quit the applicable account and close the window of web browser after using the website with the account of World e-Credit Corporate Credit Evaluation. This is to keep the security more strict when using the computer in the public place or sharing the computer with others. World e-Credit Corporate Credit Evaluation is making efforts to verify the identification of a user and process the information safely in all ways available when handling the personal information to the request of a user for the PW, etc.

World e-Credit Corporate Credit Evaluation is doing its best to protect the personal information.

The Company as a credit information provider is making efforts of providing the advanced credit information service by implementing the personal credit information management/ protection policy concerning the legal collection and use of personal information in accordance with the related law.

1. The final responsibilities according to the legitimate collection, use and protection of personal credit information were assigned to the Board of Directors and the management of the Company.

2. The Company is ensuring the company-wide inspection of unjust credit information retained by the Company use may maintain the accuracy by operating the “Personal credit information management/ protection system” which oversees the personal credit information management/ protection works.

3. If the customer credit information is provided to other companies, the Company is making the “security management contract” which contains the use of credit information, sanctions in case of violation, etc. and checking the performance of the contract.

4. When the Company receives the notice of correction from other financial institutions, the Company is making efforts to give a reply within 2 weeks from the date of correction request and maintain the accurate credit information.

5. To prevent the misuse and abuse of credit information, the rights of inquiring personal information of private members is being allocated by job and position.

6. The technical/ physical security measures are prepared and implemented so that personal credit information managed by the computerized system may not be disclosed.