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contract

No. CTR01-07/ITF Date: July ..., 2006

This contract is signed between : Address:

Tel: Account No: Represented by: Mr .Nguyen Hoa Binh Director. Hereinafter called as The Seller. And: Address: Tel: Fax: Represented by: Hereinafter called as The Buyer.

International investment -trading and finance jsc R504, 17T5 Building Trung Hoa Nhan Chinh, Thanh Xuan Dist., Hanoi, Vietnam 84.4.2512412 Fax: 84.4.2511340

The Seller agrees to sell and the Buyer agrees to buy the goods on the following terms and conditions: ARTICLE 1 COMMODITY Power rattan under processing without parasite, not darkest: oil boiled, cleaned and removed the skin, even at one end, treated with chemical and packed. ARTICLE 2 specifications - Diameter: - Length: 16mm to 40mm. 4.5m and over.

Article 3- quantity and price Commodity


Power rattan with diameter 26mm to 27 mm Power rattan with diameter 28mm to 29 mm

Quality Quantity
Grade B/C Grade B/C MT MT 1

Unit price
USD/MT USD/MT

Amount

Power rattan with diameter 30mm to 32 mm Total

Grade B/C

MT

USD/MT

All these above- mentioned prices are understood to be FOB Danang PortVietnam (INCOTERMS 2000). 10 percent more or less of quantity is acceptable. Article 4- packing These good will be packed in bale of 50kg each, then the goods will be stuffed in container 20. Article 5- delivery - Time of delivery: the time of delivery of each shipment will be confirmed later. - Partial shipment: allowed. - Transshipment: allowed. Article 6- payment Two parties have agreed that referred to be the quantity through practical checked by The Buyer at The Seller's store, the payment can be made by The Buyer as follow: 6.1 The total amount of goods will be paid by an Irrevocable 100% L/C at sight against the following required documents at the counter of Seller's Bank: Full set 3/3 originals of "Clean on Board" Bill of Lading made out to the order of "L/C opening bank" and notify "Applicant". Signed commercial invoice issued in 03 originals and 03 copies showing commodity, weight, unit price, total amount, L/C number, contract number and invoice number. Packing list with indication of total gross weight and total net weight and number of bales shipped, number of B/L: in 01 Originals and 03 copies. 6.2 All Banking charges and any customs duties, taxes, fees and other costs arise outside Vietnam are for the Buyer's account. All Banking charges and any customs duties, taxes, fees and other costs arise inside Vietnam are for the Seller's account. Article 7- inspection The Buyer's representative Mr. Goh Ah Tee (nationality of Singapore and passport No. S0436252G) will have the right to inspect the goods at the Sellers warehouse before loading by checking the goods to confirm the
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quantity of each grade. This confirmation will be final and is a legal basic for the payment. Article 8- force majeure - Neither party can claim for compensation for delays or non- execution obligation under the contract either fully in part due to Force Majeure. - Force Majeure shall be defined, though not exclusively, to include Acts of God, Acts of War, civil disturbance, strikes. - The party claiming Force Majeure shall inform the other party by Fax within 15 days from the Force Majeure followed by necessary evidence that obligations under the contract are affected, prevented or delayed. Article 9- arbitration All disputes arising out of or in relation to this contract, which is not reach an amicable agreement between both parties, shall be finally settled by the VietNam International Arbitration Centre (VIAC) at the VietNam Chamber of Commerce and Industry (VCCI) in HaNoi in accordance with its arbitration rules and procedures, whose award shall be final and binding by both parties. Arbitration fee and all of fees and charges relating to arbitration shall be born by the losing party. Article 10- general conditions - All amendments and additional annexes (if any) to the contract shall be only legal and valid in writing form with the signatures of both parties. - This contract is made at Hanoi in English in 4 copies, 2 of which for each party.
FOR THE SELLER FOR THE BUYER

MR. NGUYEN HOA BINH - DIRECTOR