Legal Notices KR HOSPITALITY & EVENTS Co., Ltd.

GENERAL TERMS AND CONDITIONS 2020-2021

1. Agreement

Any property or service that is agreed between KR H&E and client is solidified in a detailed legal document, the Agreement.

2. Rates & Validity

Rates are either NET OR commissionable, depending on each project. The prices are based on fares and other costs prevailing at the time of publication and therefore subject to reconfirmation at the time of booking. In order to secure the reservation, a non-refundable deposit should be paid.

3. Currency Fluctuations

Rates are based on a certain currency level. Should, at time of payment, the official exchange rate be within 5% variance range, the due payment amounts as specified shall remain in force;

Should, at time of payment, the official exchange rate in excess of 5% variance range, the amount of such payment shall be modified either as increase or decrease.

4. Terms of Payment

Payment terms are set according to a specific agreement with the client. The full sum should be received on our bank account at least 30 days prior to the commencement of the service.

  
    Bank
    SHINHAN BANK
  
  	Account
    180-007-400004
  
  	Account Holder
    KR Hospitality & Events
  
  	Company Address
    Jongno-gu, Dongsoonra-gil 60-7 402-ho, SEOUL, SOUTH KOREA
  
  	SWIFT
    SHBKKRSE
  
  	Bank Address
    120, 2-ga Taepyung-ro, Chung-gu, SEOUL, SOUTH KOREA

5. Cancellation or Postponement Policy

Each agreement specifies the exact conditions in case the IOC (International Olympic Committee) officially announces the cancellation or postponement of the Olympic Games. In case the Agreement lacks such clause, no refunds can be claimed to KR H&E.

6. Force Majeure

KR H&E will not be liable for any default or delay in the performance of its obligations, to the extent that such default or delay is caused, directly or indirectly, by an event beyond the reasonable control of KR H&E such as, but not limited to: fire, flood, earthquake, pandemics (and other contagious diseases), elements of nature, acts or regulations of government bodies, court orders, acts of war, terrorism, riots, civil disorders, rebellions or revolutions. Such event or circumstance giving rise to the default or delay is a Force Majeure Event.

KR Hospitality & Events Co., Ltd. (KR H&E) is a Korean based company registered in Seoul under business registration number 180-88-00342. KR Hospitality & Events Co., Ltd. is member of the Seoul MICE Alliance (SME), International Sports Travel Agencies Association (ISTAA) and registered in the System for Award Management (SAM, expiration date 16 April 2021).