眾律國際法律事務所

例句一：

Article 15: (Reporting Obligation)(註1)
Party B shall review the variations of Trading Funds each business day and inform Party A and the Custodian of the balance of Trading Funds by _____ of the immediately following business day (the frequency shall be subject to the agreement of the Parties).

Upon discovering that the Trading Funds exceed 50% of the net asset value of the Fund, Party B shall prepare and deliver to Party A and the Custodian trade or investment records and status report on the day of which such event occurred. Upon discovering that the loss of the net value of the Trading Funds exceeds 20% of the original amount of the Trading Funds, Party B shall prepare and deliver to Party A trade or investment records and status report within two business days after such event occurred; the same shall apply thereafter in each case where the loss of the net value exceeds 10% of the net value set forth in the preceding report.

Party B shall prepare for Party A monthly and annual reports, which shall include trade or investment records and status report, and shall deliver to Party A and the Custodian the monthly report within seven business days after the last day of each month and the annual report within fifteen business days after the last day of each year. 

Within ten business days of the last day of each quarter, Party B shall prepare the balance sheet and income statement of the Trading Funds for the preceding quarter and deliver the same to Party A and the Custodian. Also, Party B shall provide Party A with an operation review report stating the analysis, decision, execution and review of the investments made by Party B for the Trading Funds.

Party B agrees that upon the request of the FSC, it will provide the information or report pertaining to the engaged matters and inform Party A by delivering a transcript thereof. Any delivery or notice may be made by telephone call, telegram, email, postal mail, fax or any other means agreed by the Parties, provided that the notices referred to in the first and second paragraphs hereof may be made only by telephone call, telegram and fax.

證期局的這份契約為我們提供適當的解說範本，這一條集合了各種格式上的毛病。第一，英文契約每一個編號下面只能有一段，每一段都要有編號。所以上列契約第十五條要再分成數項(Sections)。第二、原則上一句話不要超過三行。真的不得不超過三行，可以考慮用表列方式(tabulation)處理(註2)。第三、每個Section要加上標題。我們試著將原來第十五條改寫的易讀易懂一些。

例句二：

Article XV. Reporting Obligation

15.01 Daily Review and Report of Trading Fund. Except that both parties agree on different frequency, Party B shall

(a) review the variations of Trading Funds each business day; and

(b) inform Party A and the Custodian of the balance of Trading Funds by _____ of the immediately following business day.

15.02 Extraordinary Report

(a) Report for Trading of Great Amount Trading On the day the Trading

Funds exceeds 50% of the net asset value of the Fund, Party B shall prepare and deliver to Party A and the Custodian following documents (註3):

(i) Trade or investment records.

(ii) Status report. (註4)

(b) Report for Substantial Loss Party B shall prepare and deliver to Party A and the Custodian (1) trade or investment records and (2) status report

(i) within two business days when net value of the Trading Funds loses more than 20% of the original amount; and

(ii) within two business days when net value loses another 10%.

15.03 Monthly and Annual Report

(a) Preparation Monthly and annually, Party B shall prepare for Party A

(i) trade or investment records; and

(ii) status report.

(b) Delivery Party B shall deliver to Party A and the Custodian

(i) monthly report within seven business days after the last day of each month; and

(ii) annual report within fifteen business days after the last day of each year.

15.04 Quarterly Report Within ten business days of the last day of each quarter, Party B shall prepare and deliver to Party A and the Custodian

(a) balance sheet and income statement of the Trading Funds for the preceding quarter; and

(b) operation review report stating the analysis, decision, execution and review of the investments made by Party B for the Trading Funds.

15.05 Report to FSC If FSC requests, Party B will provide information or report to FSC and deliver a transcript to Party A.

15.06 Notice Party B may deliver the notices by telephone call, telegram, email, postal mail, fax or any other means agreed by the Parties, except that Party B shall deliver the notices referred to in Section 15.01 and 15.02 only by telephone call, telegram and fax.

表列的分項要互相對得起來，名詞對名詞、動詞對動詞、助動詞對助動詞。

例句十一顯示出兩種表列方式。第一種稱為成句式表列(sentence format tabulation)。第二種稱為清單式表列(list format tabulation)。除了15.02(a)是清單式表列以外，其他都是成句式表列。

在清單式表列中，前導句是一個完整的句子，例如在15.02(a)中，” On the day

the Trading Funds exceeds 50% of the net asset value of the Fund, Party B shall prepare and deliver to Party A and the Custodian following documents”。本來就已完整。但用following、follow、below這些字提示還有下文，所以本來打句點的地方要改成冒號。

成句式表列就是將一句切斷，各個片段整合起來還是符合文法的一句話。所以不切斷時，該如何加標點符號，切斷後還是那樣加標點符號。如果被切斷成為分項的事情有三個以上，只要倒數第二項後面加”; and”或”, or”，倒數第二項以前的各個項次最末端不需要加任何標點，而最後一個項次的末段記得要加句點。

當然，表列也可以不結束在分項，例如15.01本來可以用下面這種方式寫：

例句三：

Article XV. Reporting Obligation

Section 15.01 Daily Review and Report of Trading Fund. Party B shall

(a) review the variations of Trading Funds each business day; and

(b) inform Party A and the Custodian of the balance of Trading Funds by _____ of the immediately following business day,

except that both parties agree on different frequency.

但是讀者可以看得出來，這種前面一句話、中間分幾項、後面再加一句話，甚至之後還要再分幾項，會變得太複雜。所以將” except that both parties agree on different frequency.”搬到全句主要部分的最開頭是較好的方式。當然，標點符號要記得修正。

例句十一只是作為簡單的示範，還有更加精練的空間。英文契約寫作是一個需要不斷練習改進的過程。以第十五條為例，大額交易的報告跟損失報告的被通知人都是甲方(註5)與保管機構，所以可以再確認整個契約其他各項報告義務是不是都向甲方及保管機構報告。如果是的話，我們可以給「甲方加上保管機構」一個名稱，稱為「受報告人」(Recipients of Report)，放在定義條款裡，就可以不用每一次都講“Party A and the Custodian”。

註1金管會證券期貨局，《期貨信託事業全權委託其他專業機構運用期貨信託基金契約範本》(Agreement for Futures Trust Enterprise Engaging Other Professional Institution with Discretionary Power to Utilize Futures Trust Fund (Exemplar))，民國99年6月7日修訂。

註2 Tina L. Stark, Drafting Contracts: How and Why Lawyers Do What They Do 209-223 (Wolters Kluwer, 2007)

註3原條款寫「乙方發現…應通知」，難道沒發現就不用通知嗎？這裡暫且加以改寫。

註4證期局原來的契約只寫” trade or investment records and status report”，一個句子裡同時有”and”與”or”會讓人非常困惑，所以解決方法就是加上(1),(2),(3)...。

註5契約當事人盡量不要寫甲方、乙方，因為常常沒辦法一望即知甲方是誰、乙方是誰，而且各方往往爭著當甲方。