In a mandate agreement with Monte Titoli S.p.A. (“Monte Titoli”), Monte Titoli agreed to provide the issuer with certain child care and management services regarding guaranteed obligations. As of January 1, 2017, the hourly minimum wage is set at 13 PLN for people working on the basis of a mandate contract. The contract may be terminated at any time by one of the contracting parties. If the warrant needs to be paid, the contract has been terminated by the construction officer for no significant reason, the farmer is responsible for the damage suffered. The termination of the mandate will take effect immediately, unless the party to the termination indicates another termination date. In addition, the contract itself may contain the termination date. Contract contract is a civil agreement governed by the Civil Code. The agent makes a commitment to perform a specific legal act for the agent.
The contracting parties can be both individuals and legal entities. The mandate contract, when the person receives at least a minimum wage and is required to contribute to the social security and the work fund, is included in the 365 days that are entitled to unemployment benefits. If the mandate contract contains too many employment elements, the contract is converted into an employment contract. The representative of the guaranteed bondholders acts as such in accordance with the Intercreditor agreement, the programme agreement, the terms and conditions, the mandate agreement and the royalty obligation. The operating commission on ISPs, currently EUR 600 million, imposed by the Central Bank of Sri Lanka, is reduced to 450% and Rule 7 of Volume 4 of the rules of the LankaSettle system – version 2.1 and Article 4 of the mandate contract are amended in accordance with the timetable.