STANDARD TERMS AND CONDITIONS OF SALE

    1. PRODUCTION SCHEDULE AND SHIPMENT:

    1.1 The Seller shall make the product available for delivery within 60 days after the seller

           - Receives the advance payment;

           - Confirms the final drawings with the Buyer;

    If the Buyer modifies the specifications during production process, the Seller shall be entitled to postpone the date of delivery and charge relative material and man power cost accordingly. .

    1.2 The Seller shall give the Buyer a notice when the products are ready for delivery (Notice of Readiness). The Buyer shall conduct Factory Acceptance Test in Buyer’s workshop as technical documents confirmed. After accepting, the Seller shall arrange packing and delivery.

    2. TERMS OF PAYMENT:

    2.1 The Down Payment (30% of the total contract value) shall be paid by T/T within 10 days from the execution of the contract, and the balance (70% of the total contract value) shall be paid by T/T within 10days from the date of receiving the Seller’s Notice of Readiness but before delivery.

    2.2 If the payment is delayed, the Buyer shall pay 0.5% of the total contract value per week as liquidated damages. If the Buyer fails to make payment over 90 days after the date of payment stipulated in 2.1, the Seller shall be entitled to terminate the contract.

    2.3 If the production is delayed, the Seller shall pay 0.5% of the total contract value per week as liquidated damages. If the Seller fails to complete the production over 30 days after the date of payment stipulated in 2.1, the Buyer shall be entitled to terminate the contract.

     3. INSURANCE:

    To be covered by the Seller.

    4. DOCUMENTS:

    (1) Invoice in 1 original and 3 copies indicating contract number.

    (2) Packing list in 1 original and 3 copies.

    (3) Original Bill of Lading in 3 original and 3 copies.

    (4) Certificate of Origin.

    5. TECHNICAL DOCUMENTS:

    See attached drawing and specifications. 

    6. INSPECTION AND GUARANTY:

    6.1 The Buyer shall conduct an inspection within 30 days from the date of the Buyer’s delivery, and shall send written notice together with supporting documents to the Seller if the Buyer claims.

    6.2 The Seller shall provide 6 months of guarantee for the quality of the workmanship and materials of product from the date of delivery. If the Buyer claims the defect of the product under normal conditions of use and operation, the Buyer shall immediately notify the Seller in writing with supporting documents. The Seller shall be entitled to designate inspection agency to conduct inspection on the product claimed by the Buyer. The necessary parts for replacing and repairing the defective product will be supplied free of charge after the defect is confirmed by the Seller.

    7. FORCE MAJEURE:

    The Seller shall not be liable to the Buyer nor shall the Buyer be liable to the Seller for any delay or failure in the performance of obligations hereunder if such delay or failure is due to or results from flood, fire, earthquake, storm, war, act of terrorism, riots, strike, lockout, sanction, government injunction, or any other cause or causes beyond the reasonable control of the Seller or the Buyer. The party affected by an event of force majeure shall notify the other party in writing in a timely manner and provide certification issued by a relevant authority within 15 days after occurrence of such event. If such force majeure event lasts for more than 60 days, both parties shall consult with each other concerning whether to continue with performance of the contract. If such force majeure event lasts for more than 3 months and both parties fails to reach a contract, this contract shall terminate automatically.

     8. GOVERNING LAW:

    This contract shall be governed by and construed in accordance with the law of the People’s Republic of China.

     9. ARBITRATION:

    Any dispute arising from or in connection with this contract shall be submitted to China International Economic and Trade Arbitration Commission （CIETAC）for arbitration which shall be conducted in accordance with the CIETAC's arbitration rules in effect at the time of applying for arbitration. The arbitral award is final and binding upon both parties.

     10. SPECIAL PROVISIONS:

    The Sellers does NOT take any responsibility on the duty cost of the products in the buyer's country.

     11. Assigns.

    Either party may not assign, delegate, subcontract, or otherwise transfer any of its rights or obligations under this contract without the prior written consent of the other party.

     12. Notices.

    Any notice required or permitted under this contract shall be given in writing, shall reference this contract, and shall be deemed effectively given (a) upon personal delivery to the party to be notified, (b) three business days after deposit with a reputable commercial express courier, with written verification of receipt, or (c) on the date of facsimile or e-mail transmission, provided that the notice is confirmed by the recipient in writing, which can also be in the form of a facsimile or e-mail transmission, to the following addresses: [email protected].


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