Conditions of financing

1. Directions of financing.
Alkor Finance Ltd (further - «Company») finances the following kinds of projects:

1.1. Projects on research and development in the field of biotechnologies directed on creation of the high technology products (the pharmacological and diagnostic kits, new methods of treatment with application of cellular technologies);

1.2. Projects on introduction of results of research and development in the field of biotechnologies in manufacture.

2. Applicants.
As applicants (further - «Applicants») on financing of projects at the expense of Company's resources can act:

2.1. Natural persons having education and an experience corresponding to a subject of project with a condition of establishment of the artificial person in case of acceptance of the positive decision on financing of the project by the Company;

2.2. Artificial persons independently from the organizational-legal form registered and actually being in territory of Saint-Petersburg or Leningrad region. Besides the following requirements are applied to artificial persons applying for financing from the Company:

• term of existence of the artificial person from the moment of its state registration is required to be more than 1 year;
• absence of the artificial person in the register of unfair suppliers;
• absence of creditor debts with term of payment delay more than 3 months (the sum of creditor debts on the artificial person for date of application for financing (further - «the Project application») should not exceed 30 percent from size of turnaround actives of the artificial person (section of II Form N1 of the accounting balance);
• presence of an experience of carrying out research and development;
• presence at the artificial person of the employees having education and the experience corresponding to a subject of the project;
• possibility of realization of scientific activity should be specified in the charter of the artificial person and is confirmed by presence of code ACKEA (OKVED) 73.10 «Scientific research and development in the field of natural and engineering science».

2.3. The Company has the right to establish additional requirements to Applicants.

3. Forms and conditions of financing of projects.

3.1. The Company finances projects in the form of direct financing by transfer of money resources to the settlement account of the Applicant on which is accepted the decision on financing (further - «the Project company») in size and is perfectly in order according to the concluded contract of financing. The given way of financing is applied if the Company participates in the registered capital of the Project company. The Company share in the registered capital of the Project company is defined individually and depends on the sum and financing conditions but there can not be less than 30 percent. Term of participation of the Company in the registered capital of the Project company is no more than 10 years.

3.2. The size of own money resources given by the Company for financing of one project cannot exceed 3 million rubles.

3.3. The Company finances the projects assuming reception of finished product in time no more then 1 year from the moment of the beginning of works under the project by the Project company.

3.4. The Company finances the financially effective projects providing creation of competitive production in the field of biotechnologies. Demanded indicators of financial efficiency of the project are specified in the form of the business plan.

4. An order of reception, consideration and decision-making under Project application.
4.1. Terms of giving of Project applications are not regulated.

4.2. The Project applications are required to draw up according to section requirements «Documents forms» and contain data and the documents specified in given section.

The Project applications is given on Company consideration to the address specified in the notice on the beginning of a Project applications acceptance on the Company website: http://www.al-fi.ru

4.3. Examination and an estimation of the Applicant's project are carried out by experts of the Company within 30 calendar days from the moment of reception of the Project applications. The decision of experts is send to the Applicant by e-mail or by fax.

The Company reserves the right to reject the Applicant in financing of the project without a justification for refusal.

In case of positive result of project examination and estimation the representative (group of representatives) of Applicant is invited for a negotiation with representatives of the Company for the purpose of discussion of individual conditions of interaction. By results of negotiations the report is signed by representatives of the Applicant and the Company participated in the negotiation. On the basis of report data the stipulated actions are realized; the coordination of the terms of the contract is carried out. In the contract a value, an order and conditions of financing of the project are underlined; responsibility and obligations of the parties, an order of the control and monitoring of realization of the project, an order and conditions of stay and the termination of financing of the project are described; other conditions. The contract on project financing is undersigned.