# NOTES AND QUERIES
225
# Rules of Nam Pak Hong
## Section I
In trade and business, the outstanding ones are considered the winners. Experience tells that unity is an important factor. We, of Nam Pak Hong, have long been well-known merchants in Hong Kong. Though we are engaged in different businesses, our one aim is to make profit. The organization has a history of nearly one hundred years, and a revision of the constitution and rules is necessary to meet the needs of the situation. The original objectives remain as they were.
1. Nam Pak Hong is a corporation of companies. Apart from their own regulations, all member companies should comply with the Hong's rules.
2. It is proposed that a sum of HK$500 be deposited by each member in the Hong's fund for one year during which the 10% monthly interest of the money will be used to meet the recurrent expenditure of the Hong's office. The deposit will be refunded after a year, and another $20 will be paid by each member instead.
3. Cases of members' arrears and non-payment should be reported as soon as possible to the Hong which will make it known by distributing notices to all members. The company concerned and its shareholders and agents will be suspended from transaction from the date of the notice. All members are forbidden to have any business contacts with the company in question, even if the company has changed its name or its agents have taken a new post in other companies. Transaction will be resumed only after notice is circulated by the Hong to confirm that the outstanding accounts have been cleared.
4. It is most desirable that payment for goods can be made on delivery. And if goods are sold on credit, the seller has every right to recover the credit accounts at any time. In addition to their own regulations and usual practice, members are requested to observe that payment for goods should be made within 14 days from the date of delivery. Failure to pay up the due amount within three weeks will result in the names of the company and agent concerned being publicized as stated in paragraph 3.
5. A member which has received the suspension notice but has not complied with the instructions thereon, constitutes a breach of the Hong's rules. Once such a breach is discovered and proved, the company concerned will be taken as a public enemy by other members. The fund deposited by that company will then be confiscated, half to the witness and half for charity purposes. Should there be no witness involved, all the money will be used for charity purposes. The company has to pay the Hong's Fund again, and guarantee there will be no breach of the Hong's rules in future.
6. Members should be united against any outside threat. In case only an individual member is involved, other members should not take advantage of its troubles, thus leaving the third party in an advantageous position. Otherwise, the Hong will take action against the black sheep at the victim's request.
7. Joint action will be taken against any company which has failed to settle the outstanding accounts with more than two of the Hong's members.
(Translation)
NOTES AND QUERIES
225
Rules of Nam Pak Hong
Section I
In trade and business, the outstanding ones are considered the winners. Experience tells that unity is an important factor. We, of Nam Pak Hong, have long been well-known merchants in Hong Kong. Though we are engaged in different businesses, our one aim is to make profit. The organization has a history of nearly one hundred years, and a revision of the constitution and rules is necessary to meet the needs of the situation. The original objectives remain as they were.
1. Nam Pak Hong is a corporation of companies. Apart from their own regulations, all member companies should comply with the Hong's rules.
2. It is proposed that a sum of HK $500 be deposited by each member in the Hong's fund for one year during which the 10% monthly interest of the money will be used to meet the recurrent expenditure of the Hong's office. The deposit will be refunded after a year, and another $20 will be paid by each member instead.
3. Cases of members' arrears and non-payment should be reported as soon as possible to the Hong which will make it known by distributing notices to all members. The company concerned and its shareholders and agents will be suspended from transaction from the date of the notice. All members are forbidden to have any business contacts with the company in question, even if the company has changed its name or its agents have taken a new post in other companies. Trans- action will be resumed only after notice is circulated by the Hong to confirm that the outstanding accounts has been cleared.
4. It is most desirable that payment for goods can be made on delivery. And if goods are sold on credit, the seller has every right to recover the credit accounts at any time. In addition to their own regulations and usual practice, members are requested to observe that payment for goods should be made within 14 days from the date of delivery. Failure to pay up the due amount within three weeks will result in the names of the company and agent concerned being publicized as stated in paragraph 3.
5. A member which has received the suspension notice but has not complied with the instructions thereon, constitutes a breach of the Hong's rules. Once such a breach is discovered and proved, the company concerned will be taken as a public enemy by other members. The fund deposited by that company will then be confiscated, half to the witness and half for charity purposes. Should there be no witness involved, all the money will be used for charity purposes. The company has to pay the Hong's Fund again, and guarantee there will be no breach of the Hong's rules in future.
6. Members should be united against any outside threat. In case only an individual member is involved, other members should not take advantage of its troubles, thus leaving the third party in an advanta- geous position. Otherwise, the Hong will take action against the black sheep at the victim's request.
7. Joint action will be taken against any company which has failed to settle the outstanding accounts with more than two of the Hong's members.
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