JUNK IRON SALES CONTRACT

No.
Date: July 1, 2008

Between:
Address
Tel:
Fax:
Represented by:
hereinafter referred as THE SELLER

And : 583 Corporate Agency , Triple Military Zone, Department of Defense

Address: 3rd Km, Country Reveal 5, So Dau, Hong Bang Dist, Hai Phong
Tel: 0313.824946
Fax: 0313.540441
Represented by: Do Viet Thuong- Director
Hereinafter referred as THE BUYER

It is agreed that THE SELLER commits to sell and THE BUYER commits to buy
the following described goods covering the following trade terms and conditions:

1 Commodity and specification

1.1. Commodity
Used train rail, type: ISRI, quoted: 50- 65
1.2. Technical specification
R50 (51.67 kg/M GOST- 7173-75); R65 (64.72 kg/M GOST 8165-75), long: 0.5-
1.5 meters
1.3. Origin:
UKRAINE or RUSSIA
1.4. Packing
The commodity is packed in fold from 1- 7 MT. All the folds must be made of
sea- worthy plastic
2, Price, quantity and amount
2.1 Price
354 USD per ton, to destination of Vietnam Port, Insurance is offered to 110% the
total value of the contract in all risks condition.
(Three hundred and fifty four USD per ton, discharging at Vietnam ports)
2.2. Quantity
120.000 MT (more or less than 5%, One hundred and twenty thousand Meter
Tons,
The quantity of the commodity is measured by Certificate of Quantity issued by
GSG.
2.3. Total value: 42.480.000 USD
(Forty two million, four hundred and eighty thousand USD only)
2.4. The buyer is to pay the tax and any charges in Vietnam.
3. Shipment
3.1. Time of shipment: within 30-45 days after the LC or LG date availability. The
seller is to be fined 0.2% of the value shipment per day due to over dated delivery.
The seller can deliver the commodity earlier than the date agreed in the contract
within announcement to the seller and the seller’s agreement.
3.2 Port of loading:
3.3 Discharging port: Ho Chi Minh Port, Hai Phong Port, any Ports in Vietnam.
3.4. Notice of consignment
Within 5 days after the departure of the cargo ship to The Socialist Republic of
Vietnam, the seller is to notice to the Buyer by telegram the information below:
- LC No.
- Value
- Name and nationality of the cargo ship
- Discharging port
- Date of planned shipping arrival
3.5 Transport marked port: according to the code of the seller
3.6 Terms of discharge
After the ship reaches the discharging port, the commodity will be checked
according to the sales contract’s time
The seller is to pay all the charge for checking fee and insurance SGS at the
loading port and the buyer is to pay all the charges at the discharging port
Discharge of cargo level: 3000MT per day not including Saturday, Sunday and
holidays as the ordinance of The Socialist Republic Vietnam.

4. Documents required on each shipment:

- Commercial Invoice (notice to the receiver)
- Certificate of origin: (one original and two copies)
- Certificate of commodity quarantine (one original and two copies)
- Shipped on board Invoice, Clean shipped on board Bill of Lading ( 3 original
and 3 copies)
-
- Certificate of quantity and quality (4 originals and 4 copies)
- Certificate of chemical analysis issued by the seller
Note: Each document above must be sent to the Seller’s bank
Each document above must be sent as a part of the payment documents to the bank
of the seller
5. Insurance
The seller is to buy 110% the total value of the shipment based on the tax
according to the
6. Terms of payment
6.1. Method of payment: S.B.L.C (Standby Letter of Credit)
The documents are discussed and paid based on the agreement of the Seller’s
bank. The charge of opening LC and consulting are to be paid by the Buyer.
The Seller’s bank:
Name:
Address:
Tel:
Fax:
Contacting address:
Account No.:
6.2. Payment and contract executing deposit
- The seller is to open the account of contract executing deposit 2% worth of
the contract value within 6 days since the day of signing contract. The
announcement is to be noticed to the Buyer’s bank via MT 760 bank.
- The Buyer is to open an irrevocable Standby LC after receiving the
announcement from MT 760 bank within 6 bank working days.
6.3. The buyer is to pay 100% the total value of each shipment after picking up
and inspecting the shipment.
7. Focre majeure

THE SELLER shall not be responsible for non-deliver or delay resulting from
disaster, civil, war, military activity or the emergency of the local areas beyond its
control.
All the fore majeure is to follow the rule given by the International Commercial
Chamber.
8. Arbitration
All disputes arising in connection with the execution of this contract will be settled
by the two sides in the sprit of amicable agreement. Should it be impossible to
solve such a dispute, the claim may be referred to the economic arbitration board
of Hanoi City according to the rules of The International Commercial Chamber.
The award rendered by the arbitrator (s) shall be final and binding upon both
parties concerned.
9. Condemnation
9.1. Delay in delivery or payment
In the condition that the delay in delivery or payment arise, the charge of the
condemnation is based on the interest rate of the bank (17%)
9.2. Delay in opening LC
In the condition that the Buyer is late in opening the LC, the seller may deliver the
shipment later than the agreed date in the contract.
9.3. Eliminate the contract
If one of the two sides refuses to operate the contract, 2% of the contract value is
to be the fine for this side.
10. General condition
10.1. After this contract is signed, all the documents and agreement before are to
be invalid.
10.2. This contract comes into effect from the day of signing, all the change and
complement should be valid if they are made on document, within the agreement
of the booth sides.
10.3. This contract is made in English in 04 copies and in Vietnamese 4 copies,
two of which shall be kept by each party as original.

Representative of the Seller Representative of the Buyer