Executive Summary

The form of entertainment is also changed with the advancement of technology. Computer and virtual devices takes place as entertainment. Games are one of the major sources of entertainment throughout the world nowadays. Most influential industries are Sony, Nintendo, and Microsoft etc.

Now most popular non-PC gaming products around the world: PS3, Nintedo Wii etc. Popular PC games: GTA vice city, Prince of Persia, Assassin, Need for speed, Guitar hero iii etc. Now a day’s people can buy games from internet and play trial levels on online. So this business sector contains profitability and capability to influence psychology of the gamers.

But due to the high price and less availability, ease of use the a major portion of young generation is missing this form of entertainment. XB-21 Ltd. is dedicated to providing quality gaming product .and a central source games that are highly suitable for Bangladesh. As in Bangladesh, we have quality games programmers and personnel who can manage the business venture effectively.

XB-21 Ltd. will start up as a partnership business. Each partner invests tk. 100,000 in this business and the interested investors will be able to participate and share profit on an agreed amount. All the financial aspects of our business will be documented so that clients can count on the same results every time. We believe in standards and excellent user satisfaction.

We will focus to serve from upper middle class to lower middle class young people. However, in specific cases, depending on potential and prospects of particular projects it may also accept accounts lower income range children who have a TV or PC in their home.

We are likely to select our production location near Dhaka city while we believe in putting more emphasis on our creativity and product excellencies will bring the desired success. The usage of freelance game developers and distributors will allow to use the all the resources efficiently.

There are intense competitors in market. No doubt that we are going to face huge competition from the Chinese low cost handheld video games and internationally acclaimed gaming companies. However a focused customer segment, advanced communication and relative pricing system with innovative personnel will ensure a success for our organization. We also include some backward linkages which will take into consideration in terms of expansion.

We have made sufficient analysis and made our best efforts to find the current market situation, competition, chances of success or failure etc. we believe in walking towards the vision behind the mission. We are new but we are aware of our strengths and weakness.

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1.0 COMPANY PROFILE:

XB-21 is dedicated to providing creative gaming products and a central source of handheld and PC games – for the kids and young generation interested to various action or strategy based games. The XB-21 Ltd. will not produce gaming tools not also allow having full access to the most effective online gaming platform in Bangladesh, but also enable to search and communicate with professionals who can assist with games details.

XB-21 Ltd. will find and secure the necessary facilities, design the layout and décor of the games, focused on customer preference, using domestic resources effectively and efficiently.

XB-21 Ltd. will follow its very own motto- “Visions for Tomorrow”

1.1 Company ownership:

XB-21 will be primarily a private limited company. The company will seek investor for the financial resources. The percentage of asset base between the investors and the idea developers will be 60/40.

As the operation grows, the owners will consider re-registering it as a limited liability company or stick to the partnership whichever will better suited the future business needs. All aspects of the business will be documented to ensure clients can count on the same results every time. We believe in standards and excellent services. We know that we have the potential and sincere efforts to make our business a successful one. The game designers and the interested capable young people will be the main force of XB-21 Ltd.

1.2 The Customers:

XB-21 Ltd. primarily focused to serve from e-generation to the children with whose financial capabilities will be ranged from middle to lower. However, in specific cases, depending on potential and prospects of particular projects it may also accept for a specific kind of games.

1.3 Vision:

By using the e-generation effectively we can prove that being a third world country Bangladesh can make a difference

1.4Mission:

Customer oriented production, overcoming limitations by efficient usage of available resources, reasonable price of products, introducing Bangladesh positively by games

1.5 Goals:

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Maintain a professional relationship with suppliers Try our best to best use of client’s investment. Provide entertaining and educative games for the young generation

2.0 Industry Analysis

We have highly interested young generation we import video games from China, Japan, and USA because of our limited technological resources to compete with those giant multinational companies. The most popular games are adventure, racing, treasure hunt, Sci-Fi, football games etc. Age range of consumers is 8-23. But if we combine our available resources effectively and efficiently then it’s possible to establish a gaming industry and fulfill customer demands.

Considering the market we can say that although the TV games and handheld games are mainly imported from China, Japan, Korea etc. It is possible to bring the part of these games and assemble in our country. So, although the demand of TV games and handheld games has become obsolete due to the most advanced gadgets. Sony, Nintedo have launched PSP, PSP-2 etc. but due to the high price these will not be the direct competitors.

For the PC games, due to high definition graphics and advanced design the PC games have become one of the most competitive market in the world. More than 1.3 million PC users and 1 million internet users exist in Bangladesh. Among them most are highly games loving. Again there is high unavailability of games suited for Bangladeshi history, culture and environment. Moreover, high demand can’t be fulfilled because of the high price + taxes. The availability of qualified computer programmers and graphics designers could be a vital force in this context. Large amount of children use hand held games which are relatively easy to produce and supply to them

2.1 Critical Success Factors:

Excellent game designers and programmers Proper and systematic advertisements High demand for games having Bangladeshi layouts Service clients' needs promptly, creatively and efficiently Maintain an excellent working relationship with developers, suppliers and adopt with

any technological change. Maintain a professional image at all times. Charge at a competitive price.

3.0 Market Analysis-

The market analysis section is most likely to require research information from outside our business, while most others require thinking and analysis of the existing factors within business. The goal of market analysis is to determine the attractiveness of a market and to

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evolve the possible opportunities and threats as they relate to the strength and weakness of a firm. The following sections will describe the market segmentation, our target customer and business analysis.

3.1 Gaming Industry- International

The world video gaming industry is predicted to record 9% yearly growth through 2013, to exceed $76 billion, according to Business Insights. Mobile and online gaming formats will fuel the market, with customers taking advantage of wider, faster and more mobile internet access. Console gaming, the market’s current segment leader, will see its rate of sales decelerate.

Since the first video game was launched on the market around 45 years ago, the video game industry has taken a central place in entertainment culture for children and adults alike. Far from the solitary habit it may have been traditionally, online gaming involves communities and is

Some relevant information about the overall gaming industry during the last 10 years areas follows:

Category / Total / Change(increase) in sales:Video Games: $17.94 billion +43% Video Games Hardware: $7.04 billion +54% Console Hardware: $5.12 billion +73% Portable Game Hardware: $1.92 billion +19% Video Games Software: $8.64 billion +34% Console Software: $6.64 billion +39% Portable Game Software: $2.00 billion +18% Video Game Accessories: $2.26 billion +52%

3.2 Gaming Industry National

More than 1.3 million PC users and 1 million internet users exist in Bangladesh. Among them most are highly games loving. Again there is high unavailability of games suited for Bangladeshi history, culture and environment. Moreover, high demand can’t be fulfilled because of the high price + taxes. The availability of qualified computer programmers and graphics designers could be a vital force in this context. Large amount of children use hand held games which are relatively easy to produce and supply to them.

Presently there is huge number of gamers exist in Bangladesh. Among available gaming products console, PC games, TV games and hand held games are most popular. Although we don’t produce video games but there is a huge demand for this entertainment item.

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3.3 SWOT analysis

S-Strength1. Qualified programmers and graphics designers of Bangladesh.2. High demand of video games among e-generation.3. Potential investors for this sector.4. Available human resources with a lower labor rate.5. Good image of video games as a entertainment source.6. Historical events, places and circumstances which can be converted into video games.7. Less advertising cost because of 1 million internet user.

W-Weakness1. Low income range of a large scale of population.2. Unavailability of raw materials necessary for this purpose.3. Lack of experience.4. Limited expansion of information technology.5. Creating a brand image could be backlash.

O-Opportunity1. Huge number of interested Bangladeshi customer around the world.2. School going kids who are interested in hand held games.3. 1.3 million PC user and 1 million internet user.4. Favorable business environment for this kind of business.5. Lack of entertainment product by local producers in the market.

T-Threat1. Strong competitor in highly competitive market.2. Low possibility of offering high quality from the very beginning.3. Buyer’s high expectation may convert to high dissatisfaction.4. Little backward linkage backup.

3.4 Market Segmentation

Gaming products serve the entire purchasing population of its geographical area but focuses on customers who desire to purchase gaming products see either as near entertainment items or children who want to pass their extra times with by playing video games. The age range for this market will be comprised of 8-23. People who are having a TV in home and have kids will be the target market for TV games. Young generation who use internet and PC will be the target market for PC and online games.

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Casual Shoppers: These are customers who go to the store with no set idea of what they want to purchase generally parents, older persons, gift shoppers and people who are not familiar with gaming product. They seek to spend a fair amount of time browsing the store and often are considered impulse buyers. Often they leave the store with small purchases or without buying anything. These customers are attracted to gaming products store with low prices and large inventory.

"Hard to Find" Shoppers: These are customers with very specific needs. They are looking for a difficult to obtain item, usually a games that can fulfill their entertainment needs. If we can satisfy this customer, then we are able to build significant customer loyalty. These clients are generally price insensitive and are also drawn to stores that have large inventory.

Specific Category Shoppers: These customers are those types that generally buy games of one category, such as action, adventure, strategy etc.. These customers generally have a good idea of what they want to purchase and have the greatest buyback/trade potential. These customers represent the highest volume purchaser, and they could be the advocate of the products of XB-21.

4.0 Marketing Strategy

4.1 Target market and positioning

As mentioned before, children from the upper middle class and middle class will be our target customer. To make gaming experience the most memorable and enjoyable one for our clients through quality and at reasonable price will be our top most priority. Whatever they desire, we will try our best to portray their imagination into realism. We believe in making relationships with the customer by fulfilling their demands. So whenever they require any gaming product at a much cheaper price we become the first one to consider. We would like to make customer value package.

4.2 Basic marketing strategy

Product-1. 4 kinds of product

a. Handheld gamesb. TV gamesc. PC gamesd. Online games

2. Assembled and designed in Bangladesh.3. Raw materials will be brought from china and some changes will be done on the

product.

Price-

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1. Price range for different products-a. Handheld games- Tk. 300 to tk.550b. TV games- Tk. 650 to tk. 1250c. PC games- Tk. 120 to 250 per DVDd. Online games- Depend on levels

2. Payment system-a. Handheld games- On cashb. TV games- On cash or credit cardc. PC games- On cash or credit card, buy from onlined. Online games- On credit card or debt card, buy from online

Promotion-1. Advertising on face book, twitter, etc.2. Arranging competitions on schools where the winner will get products of XB-21 as a

prize.3. Encourage parents to buy games for their children by arranging sponsoring on parents

day, cultural programs etc.4. Encourage to buy products made in Bangladesh.5. Attractive Bangla cartoons based on games.6. Free trial stage of different games on the website.

XB-21 Ltd. will rely greatly on publicity and word-of-mouth advertising to promote these financing plans. The construction of PC games using national places, facts and layout will be helpful to differentiate in the market place and will therefore serve as a very useful promotional tool. Like many rural agricultural villages, where no electricity is available the handheld games will create excitement and conversation among the children..Due to the visibility of this project, XB-21 Ltd will ensure that high standards of professionalism are maintained at all times. Embroidered T-shirts will be distributed to the technicians and exclusive buyers .

Finally, professionally printed brochures, websites featuring concise descriptions of the games offered, as well as general information about upcoming games, will be widely distributed.

Place-1. Availability in stationary shops nearby schools.2. Availability primarily in major cities then gradually throughout the country.3. Availability in shopping malls and computer product selling shops.4. Discount for frequent buyers.

PC games products will be available for our customers through our online website and retail shops that sell PC related stuffs. We desire to advertise in social networking

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systems and blogs for PC games. We will develop a website. Clients can visit our websites and those who are interested will be capable to play games online and share their views. We will also like to appoint some agents to promote us. We can even sponsor programs to get publicity.

4.3 Long run target

For existing in the market we believe in making long run plan. We will add different features time to time for make an adjustment with new creations. Here we will be able to make our position through online and in traditional marketplaces. We believe that we will be able to capture significant market share and will earn revenue for our business expansion.

5.0 Management Team

5.1 Management Team – Primary Hierarchy

Primarily this business will be comprised of three members who have designed this idea. The external investors will be part of the decision making process. The three key person who desinged this idea will hold the following positions in the company.

1) Md. Saidul Islam- Designation- Chief Co-Ordinator of Resources- Key responsibilities- Managing and controlling the resources related

to the business effectively and efficiently. Monitoring the resources usage.

2) Md. Wasiul Islam- Designation- Chief Financial Projectionist- Key responsibilities- Planning. Allocating and forecasting the

financial resources. Finding the best alternative. Bargain with the investors. Monitor cash inflows and outflows.

3) Muntair Rashid Khan- Designation- Creative Marketing Officer and Public Relations- Key responsibilities- Communicate with the external investors,

clients, wholesalers etc. Find effective ways to communicate with the customers. Monitoring product design and promotional activities.

4) Others- Will be recruited based on the need and qualification of the interested candidates.

5.2 Company Structure

We will follow a flat organization structure, where everyone can communicate with each other without barriers. As it is a technology based organization so the creative idea will be

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highly beneficial for popularity and expansion of the company. Here the managerial power will be distributed among employees. Personnel will be responsible for his/her works being done. We will appoint employees on the basis of their knowledge, skill, competency etc. The hierarchy of organization is as follows:

Lower level employee:

Skilled and experienced employees are needed here to accomplish the entire plan. Without their cooperation the entire plan will be in vain. Here, we recommend experienced game designer, young and energetic, creative people and part timer students for game design related works. Skilled and efficient employees will be selected for the assembly of TV games and handheld games products.

Middle level employee:

There will be an experienced and qualified creative employee at each of our service line who will show the way how things will be done to the lower level employees. He will work as a liaison. They will develop an idea for the services and will make sure that everything is perfect.

Top level Employee:

Top level employees inspect the work of both the lower and middle level employees. In case of any need he will assist them. It is he who responsible for all the deeds even for the unprofessional conducts (if any) that takes place by the employees. So in our early stage of business we the founders will be the top level employees of our business. The top level management will be include the renowned, experienced game designers, game developers,

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Higher Level Employee

Middle Level Emplyee

Lower Level Emplyee

programmers, people with experience to work in the top level management of technology based companies.

Some specific segment of workforce will get higher priority-

1. Employ university students on a part time basis.a. Ex. FM radio, Call centers etc.

2. Use IT students for games designing and programming.3. Buy designed games from free lance games designers.4. Organize competitions in universities to find innovative marketing and gaming plan.5. Inspire Bangladeshi IT experts living abroad.

6.0 Operations Plan

6.1 Operations StrategyCustomers will start their lifetime relationship with XB-21 upon receipt of their first solar gaming kit. In time, they will learn to effectively apply the full potential of gaming entertainment, and they will completely encourage to play games with familiar environment and characters. Beside these to be successful XB-21 have to efficient user of the resources to survive in the intense competition. Besides high flexibility have to maintained in all sort of activities to adopt any change in the business environment.

6.2 Scope of Operations

XB-21 Ltd. will be responsible for conducting the following activities :¨ Operating and maintaining assembly plant for handheld games and TV games¨ Placing supply orders and maintaining inventory¨ overseeing and orchestrating gaming kit assembly and distribution using legal distribution channels¨ Collecting customer payments¨ Designing and collect patent for PC games and other innovative gaming gadgets¨ Promotion using Print media, online etc.¨ Subscribing new customers, and up-grading current and past customers¨ Organizing informational forums and instructional demonstrationsXB-21Ltd. will negotiate the most attractive purchases of importing parts from outside Bangladesh which will be used directly from manufacturing of gaming kits.

6.3 Business Location

XB-21 plans to open its first assembly plant of handheld games and TV games near Dhaka to gain the advantage of lower transportation cost, better distribution channel and higher number of customers. The second branch will be in Dhaka for the designing of the PC game. This will be helpful because it will be easier to find required skilled human resources who will

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participate in the games design, high speed internet, better marketing and promotional activities. The location will be rented primarily to save the cost of infrastructural setup.

As most of the distribution channels for gaming products situated near Dhaka city. Firstly it will be a retail -based business for the TV games, PC games and handheld games. Most communication with different parties like suppliers, buyers, game designers, wholesaler will be done over the phone or through website. The company will maintain a high degree of professionalism

When the company has reached its certain point, showrooms will be established. All offices are equipped with the latest in business technology, such as telephone systems, computers, fax machines, email, duplicators, printers, and software. Each location will have a secure storage area for supplies and equipment used in events, such as walkie-talkies, cellular phones, portable fax machines, and laptops.

6.4 Operating Assets Estimation

6.4.1 Operating Assets outside Dhaka - TV Games and handheld Games

Asset Purchase Amount (tk.)

Remaining Life (years)

Machineries 1,750,000 5Computer with internet connection

35,000 1

Assorted office furniture 50,000 3 Utilities (Electricity, Telephone etc.)

20,000 Continuous

One Mini van 900.000 5Total 2,755,000

6.4.2 Operating Assets in Dhaka - PC Games

Asset Purchase Amount (tk.)

Remaining Life (years)

Eight computers with internet connections

575,000 1

Assorted office furniture 50,000 3 Three employee furniture groupings

200,000 4

One Photocopier 200,000 1,5 One Mini van 900,000 2 Total 1,925,000

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XB- 21 decided to link each fixed asset category to a key output of the model in order to automatically generate its fixed asset acquisition schedule. We estimate that assembly plant and office needs six computers for starting the business. XB-21 plans to purchase one set of general office furniture for Dhaka branch office. We also linked employee furniture groupings to the number of Branch staff, assuming that the Dhaka branch employees will work on part-time basis.

6.5 Specifically Focused Games

Games suitable for Bangladeshi culture, history, environment, places, values and events-

Ex. Historical- Battle of Plassey, Bijoy 71,Call of 52, The legend of Titumir etc.

Ex. Action- Killljone 71, Project MR09- Guns of the patriot, BD commandos etc.

Ex. Racing- Racing in city traffic, cX bazaar surfing etc. Ex. Adventure- Treasure hunt in Chittagong hill tracks, Sundarban Rangers

etc. Ex. Conceptual- Finding job, Train Brain, Brain challenge etc. Ex. Music- Guitar hero BD, Rock band etc. Ex. Games- Football, Building of blocks etc.

-Available Bangla options throughout the game

7.0 Product Design and Development Plan for XB-21

XB-21 will assemble a legal team and incorporate during at the beginning of the company. After completing and revising the business plan, the company will begin to seek grants and investments from accredited private investors, multi-national companies, and, possibly, from large corporations for the primary investment.There will be some need for product development and prototyping in XB-21 Ltd. To proceed. For these purpose XB-21 will build to prototype and apply for the patent in Bangladesh. Prototype 1 will be handheld games and Prototype 2 will be TV games.

Because customers will be expected to perform their own installations, XB-21 Ltd.’s products will need to test customer reaction to these kits. Specifically, handheld and Tvgames will assemble several versions in order to develop a packaging method that optimizes simplicity for the customer. Prototype testing will be conducted simultaneously with the construction ofthe assembly unit, and will take less than one month to complete.

Once assembly plant is established, XB-21 will focus on developing market demand for the and design PC games using another centre. Beside we have to find strong financial resource providers. Because these financing plans will be expensive, and because no equipment will

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be distributed until all payments have been received, it will take time for XB-21 Ltd. to earn the trust of Bangladeshi consumers. However, company is convinced that this can be done within one year.

First, utilization of all possible distribution channels, products will help to lend credibility to product’s promises. Second, the assembly plant and design center will represent a symbol of XB-21’s long-term commitment to the community. Finally, when gaming kits are delivered to the first wave of customers, Xb-21 Ltd’s XB-21’strustworthiness will be ultimately confirmed.

7.1 Development Timeline

XB-21 Ltd. products will be launched in five major phases, during the following estimated dates:Phase 1 Incorporation: Finalize business plan, incorporate, file with the SEC, build website: 3 monthsPhase 2 Venture Financing: Tk. 5 million for construction of assembly plant & design center and to jump-start operations: 8 monthsPhase 3 Construction of power station & community center: 3monthsPhase 4 Optimize gaming kit packaging and assembly: 1 monthPhase 5 Subscribe customers to solar kit financing plans: 1 month

7.2 Development Expenses

XB-21 will need Tk. 5 million to start the business which will be collected by loans and external investors.

8.0Financial Projections

8.1 Revenue Streams

The Revenue Streams Building Block represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings)If customers comprise the heart of a business model, Revenue Streams are its arteries. A company must ask itself, for what value is each Customer Segment truly willing to pay? Successfully answering that question allows the firm to generate one or more Revenue Streams from each Customer Segment. Each Revenue Stream may have different pricing mechanisms, such as fixed list prices, bargaining, auctioning, market dependent, volume dependent, or yield management.Our cash stream can involve two different types of Revenue Streams:• Transaction revenues resulting from one-time customer payments

- Selling of gaming products

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• Recurring revenues resulting from ongoing payments to either deliver a Value Proposition to customers or provide post-purchase customer support

- Online games and the PC games will provide this source of cash flow8.2Pro Forma Financial Statements

8.2.1 Projected Manufacturing Cost (in a month)

The manufacturing cost for a month will be:

Direct labor (programmer, assembler)…………………… 200,000Direct materials (electronic materials, DVD)…….………..180,000 -----------------Prime cost…………………………… .……….……….… 380,000Maintenance……………………………… ………….…. 60,000Depreciation of machines ………………..……………... 200,000 ---------------Cost to manufacture………………………………………. 640,000Less : Ending work in process……………………………. (120,000) ----------------Cost of goods manufactured…………………………… .. 520,000Less: Finished goods (closing)………………………… (80,000) ---------------Cost of the goods sold ……………………… …….... 440,000

8.2.2 Financial statements : Income statement

Now, this information is for the first year. The tentative income statement and comparative balancesheet and cash flow for five years is given below:

Forcasted Income statement

For first five years (in‘000)

Description 1st year 2nd year 3rd year 4th year 5th year

Sales* 7,400 9,250 11,562 14,453 18,066

Cost of goods sold 2,305 2,960 3,931 4,914 7,226Gross profit 5,095 6,290 7,631 9,539 10,840Administrative expense

         

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Salaries 2,200 2,400 2,800 3,600 3,900Utilities 500 500 500 750 750Insurance expense 90 90 90 130 130Interest expense 390 390 390 390 390Depreciation expense

200 200 200 230 230

Miscellaneous expense

120 120 120 150 150

Net income 1,595 2,590 3,531 4,289 5,290*The forcasted growth of sales is 25%.

8.2.3 Financial statements : Forecasted Comparative Balance sheet

For first five years (in ‘000)

Description 1st year 2nd year 3rd year 4th year 5th year

Long term Assets           Patent 3,500 3,500 3,500 4,000 4,000 Machineries 2,000 2,000 2,000 2,000 2,000 Office equipment 800 800 900 900 800 Land 0 0 1,000 1,000 1,500Current assets           Accounts receivable 215 215 215 215 215 Prepaid insurance 45 45 45 45 45 Cash 900 1,494 959 913 1,114TOTAL 7,460 8,054 8,619 9,073 9,674Liabilities           Long term loan 3,000 3,000 3,000 3,000 3,000 Accounts payable 1,500 1,500 1,500 1,500 1,500Capital           Stock 2,000 2,000 2,000 2,000 2,000 Retained earnings 1,595 2,590 3,531 4,289 5,290 Less : dividends 40% 635 1,036 1,412 1,716 2,116TOTAL 7,460 8,054 8,619 9,073 9,674

8.2.4 Financial statements : Forecasted Cash flow statement

For first five years (in ‘000)

Description 1st year 2nd year 3rd year 4th year 5th year

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Operating activities          

Net income 1595 2590 3531 4289 5290(Increase)decrease in accounts receivable -215        

Cash flow from operating activities 4680 29370000 23000000 25100000 25870000

Investing activities     1,000 1,000 1,500

Equipment increase -800 - -100   100Capital increase 2,000        Les: dividends 635 1,036 1,412 1,716 2,116

Cash flow from financing 3,000 -390 -390 -390 -390

Net increase(decrease) in cash 5,580 1,164 1,729 2,183 2,784

9.0 Conclusion

In Bangladesh the concept of gaming products is not new, but offering three different product lines is not only challenging but also highly potential. But no one has yet been popular enough. Although there exist intense competition but the chance to implement and become profitable is not impossible. As it is related with high growth opportunity it can become popular among Bangladeshi’s abroad. People’s life is getting too much inclined with technology and parents are concern about the entertainment of the young people. So XB-21 Ltd. Could be prospectus business venture. We have made sufficient analysis and made our best efforts to find the current market situation, competition, chances of success or failure etc. we believe in walking towards the vision behind the mission. We are new but we are aware of our strengths and weakness. We believe that our hard work and dedication will exceed our client’s expectancies

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Appendix A

LOAN AGREEMENT1. Parties: The undersigned is XB-21 Ltd.,the Borrower, and the Lender

_______________.2. Date of Agreement: ________________________________________________.3. Promise to Pay: Within _____ months from today, Borrower, here XB-21 promises to

pay to Lender_________________________ Taka (Tk._______) and interest as well as other charges avowed below.

4. Accountability: Although this agreement may be signed below by more than one person, each of the undersigned understands that they are each as individuals responsible and jointly and severally liable for paying back the full amount.

5. Breakdown of Loan: Borrower will pay: Amount of Loan: Tk.__________Other (Describe) Tk.__________Amount financed: Tk.__________Total of payments: Tk.__________ANNUAL PERCENTAGE RATE________________%

6. Repayment: Borrower (XB-21) will pay back in the following manner: Borrower will repay the amount of this note in _____equal continuous monthly installments of Tk.____________ each on the _____ day of each month preliminary on the _____day of _______, 20____, and ending on _________, 20____.

7. Prepayment: Borrower has the right to pay back the whole exceptional amount at any time. If Borrower pays before time, or if this loan is refinanced or replaced by a new note, Lender will refund the unearned finance charge Late Charge: Any payment not remunerated within ten (10) days of its due date shall be subject to a belatedly charge of 5% of the payment, not to exceed $____________ for any such late installment.

8. Security: To protect Lender, Borrower gives what is known as a security interest or mortgage in: [Describe:] _________________________________________________________________________________________________

9. Default: If for any reason Borrower not succeeds to make any payment on time, Borrower shall be in default. The Lender can then order instant payment of the entire remaining unpaid balance of loan, without giving anyone further notices. If Borrower has not paid the full amount of the loan when the final payment is due, the Lender will charge Borrower interest on the unpaid balance at ______ percent (%) annum

10. Collection fees: If this note is placed with a legal representative for collection, then Borrower agrees to pay an attorney's fee of fifteen percent (15%) of the voluntary balance. This fee will be added to the unpaid balance of the loan.

Agreed: ____________________________

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Lender___________________ _______________Borrower Borrower

XB-21 Relevant Figures

Fig- Company Logo

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