THE BUYERS: GREENWOOD CO., LTD.
Moscow State red District Phuket Corrie Wo Village
TEL: (495) 287-19-80 FAX: (495) 287-19-82
THE SELLERS: CHENGDU DOMINIQUE FOOTWEAR CO., LTD
Jin Hua Town, Wuhou District, Chengdu
TEL: 028-66704795 FAX: 028-85027333
This Contract is made by and between the Buyers and the Sellers in September 12, 2011 whereby the Buyers agree to buy and the Sellers agree to sell the under mentioned commodity
according to the terms and conditions stipulated below:
COMMODITY,SPECIFICATION QUANTITY UNIT PRICE (SGD) TOTAL PRICE (SGD)
LADIES BOOTS 10000 100.00 RMB 4,000,000 RMB
2. COUNTRY OF ORIGIN AND MANUFACTURERS: CHENGDU
3. PACKING: To be packed in carton(s), suitable for the railway.
4. SHIPPING MARK: The Sellers shall mark on each package with fadeless paint the package number, gross weight, measurements.
5. TIME OF SHIPMENT: Before OCT. 28, 2011
6. PORT OF SHIPMENT: CHENGDU
7. PORT OF DESTINATION: MOSCOW
8. INSURANCE: To be covered by the Sellers for 110% invoice value against All Risks. 9. PAYMENT:
T/T 60DAYS AFTER DELIVERY
10. SHIPPING ADVICE: The Sellers shall, immediately upon the completion of the loading of the goods, advise by cable/email the transportation department of Buyers of the Contract No.,
Commodity, quantity, invoice value No., ocean bill No., airway bill No., gross weight, name of vessel and date of sailing etc. In case the Buyers fail to arrange insurance in time due to the Sellers having failed to cable in time all losses shall be borne by the Sellers. 11. GUARANTEE OF QUANTITY: The Sellers guarantee that the commodity hereof is made of
the best materials with first class workmanship, brand new and unused, and complies in all respects with the date on which the commodity arrives at the port of destination. 12. CLAIMS: Within 90 days after the arrival of the goods at destination, should the quality, specification or quantity be found not in conformity with the stipulations of the Contract except those claims for which the insurance company or the owners of the vessel are liable, the Buyers on
the strength of the Inspection Certificate issued by the China Commodity Inspection Bureau, have
the right to claim for replacement with new goods, or for compensation, and all the expenses (such as inspection charges, freight for returning the goods and for sending the replacement, insurance premium, storage and loading and unloading charge etc.) shall be borne by the Sellers. As regards quality, the Sellers guarantee that if, within 12 months from the date of arrival of the goods at destination, damages occur in the course of operation by reason of inferior quality, bad workmanship or the use of inferior materials, the Buyers shall immediately notify the Sellers in writing and put forward a claim supported by Inspection Certificate issued by the China
Commodity Inspection Bureau. The Certificate so issued shall be accepted as the base of a claim. The sellers, in accordance with the Buyers claim shall be responsible for the immediate elimination of the defect(s), complete or partial replacement of the commodity or shall devaluate the commodity according to the state of defect(s). Where necessary, the Buyers shall be at liberty to eliminate the defect(s) themselves at the Sellers expenses. If the Sellers fail to answer the Buyers within one month after receipt of the aforesaid claim, the claim shall be reckoned as having been accepted by the Sellers.
13. FORCE MAJEURE: The Sellers shall not be held responsible for the delay railway or non-delivery of the goods due to Fore Major, which might occur during the process of manufacturing or in the course of loading or transit. The Sellers shall advise the Buyers immediately of the occurrence mentioned above and within fourteen days thereafter, the Sellers shall send by airmail to the Buyers a certificate of the accident issued by the competent government authorities, Chamber of Commerce or registered notary public of the place where the accident occurs as evidence thereof. Under such circumstances the Sellers, however, are still under the obligation to take all necessity measures to hasten the delivery of the good. In case the accident lasts for more than 10 weeks, the Buyers shall have the right to cancel the Contract. 14. LATE DELIVERY AND PENALTY: Should the Sellers fail to make delivery on time as
stipulated in the Contract, with exception of Force Major causes specified in Clause 15 of this Contract, the Buyers shall agree to postpone the delivery on condition that the Sellers agree to pay a penalty which shall be deducted by the paying bank from the payment. The penalty, however, shall not exceed 5% of the total value of the goods involved in the late delivery. The rate of penalty is charged at 0.5% for every seven days less than seven days should be counted as seven days. In case the Sellers, in spite of the cancellation, shall still pay the aforesaid penalty to the Buyers without delay.
15. ARBITRATION: All disputes in connection with this contract or the execution thereof shall be settled friendly through negotiations. Incase no settlement can be reached, the case shall be submitted for arbitration to the China International Economic and Trade Arbitration Commission Beijing in accordance with the Provisional Rules of Procedures by the said Arbitration Committee. The Arbitration shall take place in Beijing and the decision of the Arbitration Committee shall be final and binding upon both parties, party shall seek recourse to neither a law court nor other authorities to appeal for revision of the decision. Arbitration fee shall be borne by the losing party. 16. SPECEAL PROVISIONS: (If anything contained in the previously printed clauses is
inconsistent with the provisions stipulated here, the inconsistent part of the previously printed should automatically be null and void.)
17. All appendixes to the Contract shall form an integral part of the Contract and have the same effectiveness as the contract. IN WITNESS THERFOF, both parties in two original copies sign this Contract. Each party holds one copy.
THE BUYERS THE SELLERS