CONTRACT No …

Place, Date …
* CONTRACT Between: Name: …
Address: …
Tel: … Fax: … Email: …
Represented by …
Hereinafter called the SELLER
And: Name: …
Address: …
Tel: … Fax: … Email: …
Represented by …
Hereinafter called the BUYER
The SELLER has agreed to sell and the BUYER has agreed to buy the
commodity under the terms and conditions provided in this contract as
follows:
Art.1: Commodity:
Art.2: Quality:
Art.3: Quantity:
Art.4: Price:
Art.5: Shipment:
Art.6: Payment:
Art.7: Packing and marking:
Art.8: Warranty:
Art.9: Inspection:
Art.10: Force Majeure:
Art.11: Claim:
Art.12: Arbitration:
Art.13: Other terms and conditions:
… (Loading terms/loading and discharging rate; Performance Bond,
Insurance; Penalty)

For the BUYER For the SELLER

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1. COMMODITY
a. Common name+ scientific name:
b. Name+ origin
c. Name+ specifications:
d. Name+ production time:
e. Name+ trade mark
f. Name+ functions:
g. Name+ model
h. Combination

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1. COMMODITY

• Vietnamese long grain white rice of 10% broken,

crop 2023

• Two-litre multi rice cooker, Sanyo brand, model

AB12, made in Japan, 2023

• Charger AB 123, 110V/220V for large battery.

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2. QUANTITY/ WEIGHT/ AMOUNT OF GOODS)

- Piece, unit…
- MT, kg, gallon….
- Bag, box, bottle …
LT=long ton=1016,047 kg
ST=short ton=907,187kg

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2. QUANTITY/ WEIGHT/ AMOUNT OF GOODS

• Net Weight 10,000 MT +/- 10% (at the seller’s

option).

• 100 sets, one set with one catalogue and one adaptor.

• 500 MT+/- 5% at the seller’s option in accordance

with the market price/ contract price.

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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS
a. By sample

Quality:
* As per sample No…., in the possession of
the Buyer on …… The sample must have
the signatures of all Parties. The sample is
to be made in 03 copies for the Buyer, the
Seller and the Surveyor. The sample is an
integral part of the Contract.

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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS

b. By standard

Quality:

• Arabica grade 1, TCVN 4193 : 2001

• In accordance with TCVN --------- in effect in----
----

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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS

c. By specifications
Specification:

- Mainboard ECS 845GV-M3 – Socket 478

- CPU Intel Pentium 4 Processor – Socket 478

-Monitor 15 inch Samsung SyncMaster
- Medium Tower Case ATX ROBO
- Keyboard PS/2 ROBO Multimedia
- Mouse PS/2 ROBO Optical Scroll
- CD Rom 52X
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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS

By the state of the goods

Quality: As it is

By the goods inspected before

Quality: As inspected and approved by the Buyer

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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS

Quality:

The quality of the Goods is as per the

attached Technical Documents agreed by the
Buyer. Technical Documents are in
Vietnamese. The Technical Documents are
an integral part of the Contract.

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Quality:

The Goods shall be with X trademark,

officially registered at …… The quality
of the Goods shall be in conformity with
the quality of X trademark.

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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS

By description
Pepper: clean, dry, black, hot taste
- Moisture: 14%
- Admixture: 1%
- Not mouldy or mouldy smelling

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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS

By description

Yellow sesame: new crop, dry, clean, no

worm eaten
- Moisture: 8% Max.
- Other color grain: 2% Max.
- Admixture: 1% Max.
- Oil content: 45% Min.
- Acid index: 3 Max.

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3 .QUALITY/ SPECIFICATION / DESCRIPTION OF GOODS

By description
• Moisture: 14 % max
• Foreign matter: 0.5% max
• Broken: 25.00% max
• Whole grain: 40.00 % min
• Damaged kernel: 2.00% max
• Chalky kernel: 8.00% max
• Red kernel: 4.00% max
• Immature kernel: 1.00% max
• Milling degree: ordinary milled

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 4. PRICE

Setting price:
a. fixed price: “100 USD/kg FOB HP port, Incoterms 2020”

b. deferred fixing price:

“Shall be set in May, 20.. at the price of 85 USD/MT lower than posted
price for Robusta grade 1 at LIFFE”

c. flexible price:
“ 220 USD/MT FOB HP, Incoterms 2020. The price shall be subject to
change if on delivery, market price varies more than 10%”

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 4. PRICE
Unit price
Total amount
Packing
Accessories

Price:
Unit price: USD 200.00
Total amount: 200 USD x 200 sets = 40,000 USD
(Forty thousand US dollars only)
The price is to be understood FOB Singapore,
Incoterms 2000 including packing and accessories

16
5. DELIVERY/ SHIPMENT
A. Time of delivery:

B. Place of delivery:
Port of discharge
Port of destination

C. Mode of delivery
Lump-sum, Partial- shipment, installments.

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 5. DELIVERY/ SHIPMENT

5.1 Time of shipment: not later than ------

5.2 Port of loading: Indonesia main ports
5.3 Destination port: Hochiminh City Port
5.4 Notice of shipment
Within 2 days after the sailing date of carrying vessel to S.R
Vietnam, the Seller shall notify the Buyer by cable of the
following information:
+ L/C number
+ L/C Amount
+ Name and nationality of the vessel
+ Bill of Lading number/ date
+ Port of loading
+ Date of shipment
+ Expected date of arrival at discharging port
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6. PAYMENT

a. Currency of payment
b. Time of payment:
c. Place of payment:
d. Mode of payment:

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 6. PAYMENT

Payment:
- By TT remittance within 7 days from receipt of shipping
documents (original) to …. account No.: ……. in ……bank,
HCM city, HN
- Payment shall be made upon receipt of these shipping
documents such as:
+ Full set (3/3) of clean on board Bill of lading, marked:
Freight prepaid+ Commercial invoice in triplicate/ in
duplicate
+ Packing list in triplicate
+ Certificate of origin issued by ……………

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6. PAYMENT

Payment:

Within a week after receipt of Notice of Shipment, the

Buyer shall make full payment by T/T to the account of
the Seller from X bank to Y bank

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6. PAYMENT
Payment:
The Buyer shall open an at sight, irrevocable L/C in USD to make
total payment for the Goods. L/C shall be opened at least 15 days
before the estimated time of delivery and shall be valid for 21
days from the delivery date.
Beneficiary: ABC co…..
Advising Bank: Korea First Bank…
Issuing Bank: Vietinbank …
L/C is payable upon presentation of the following documents:
- A full set of original clean, on board B/L, Freight Prepaid
- Commercial Invoice in triplicate
- Certificate of quality by SGS
- Packing list in triplicate
- Certificate of origin issued by VCCI
- Insurance policy: 1 original, 2 copies
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6. PAYMENT
Payment:
By Irrevocable Letter of Credit at sight
Buyer shall open an Irrevocable Letter of Credit at sight
in favour of the Seller through VIETCOMBANK which
requires the following documents for negotiation:
Full set of Signed commercial Invoice
Full set of Clean on board original Bill of lading
Certificate of Origin
Certificate of quality/weight issued by independent
supervisor
Certificate of Phytosanitary
Certificate of Fumigation

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7. PACKING

Types of packing

Bag, gunny bag, paper bag, bale, barrel, box, case,

wooden case, plywood case, double case,
fiberboard case, carboy, crate, carton, corrugated
carton, container, drum, package, roll, sack, tin.

Outer bag, inner bag, intermediate bag.

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7. PACKING
Packing

Export Standard Seaworthy Packing

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7. PACKING

Packing

These Goods shall be packed in bags of 50kgs

net each, and then the Goods shall be stuffed
in container 20’.

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8. WARRANTY
All equipment and accessories under the Seller’s scope
of responsibility shall be within 12 months warranty by
the Manufacturer from the date of Final Acceptance
Report, but not exceeding 14 months from the date on
Bill of Lading. For consumable items, components and
spare parts, Manufacturer’s warranty conditions apply.

During the warranty period, the Seller is responsible for

technical support to help the Buyer in solving technical
problems if the Goods show any defects. The first line of
technical support shall be by telephone and/or email.

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9. INSPECTION

Inspection Report issued by SGS/or Independent

Surveyor at Loading Port is required. Inspection fee
before loading is on the Seller's account.

Re-inspection at unloading port by SGS or

VINACONTROL is on the Buyer's account and result of
re-inspection at unloading port is final for claim (if
any)

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10. FORCE MAJEURE

The Force Majeure clause of the International Chamber

of Commerce (ICC publication No:---- ) is hereby
incorporated in this contract.
Either party shall, within 24 hours, give notice to the
other party of any Force Majeure event affecting its
obligations under this Contract along with documentary
evidence issued by the Chamber of Commerce at the
place where the incidence occurred or by the
competent authority connected with the cause.
Should the effect of Force Majeure continue for more
than 30 consecutive days, both parties have a right to
cancel this Contract.
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11. CLAIM

In case of non-conformity of the quality of the

products actually delivered by the Seller with the
Contract specifications, any claim concerning the
quality of the goods shall be presented to the Seller
within three months from the date of delivery

No claims shall be accepted by the Seller party after

expiry of the above period.

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12. ARBITRATION

In case of dispute and if the contracting parties cannot

reach an amicable settlement of any claim concerning
this Contract, the case shall be transferred to the
Singapore International Arbitration Center (SIAC) in
accordance with Singapore law under ICC rules of
arbitration. The decision taken by this arbitration shall
be final. All fees and expenses incurred from this
arbitration shall be borne by the losing party.

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12. ARBITRATION
All disputes arising out of or in relation to this
Contract, on which an amicable agreement is not
reached 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 on both parties. Arbitration fee and all of fees
and charges relating to arbitration shall be borne by
the losing party.

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 12. OTHER TERMS AND CONDITIONS
This Contract comes into effect since the date of signing
and both parties undertake to execute strictly all the
terms and conditions. All previous agreements shall
become null and void.
Any changes or amendments to this Contract shall be
made in writing and subject to prior approval from/ by
both parties.
Singapore law is applicable for this Contract. The
Incoterms 2020 edition is applicable as terms of delivery.
This contract is made in English language in 04 originals,
two of which are retained by each party.
Signing via fax is acceptable.

33
 Practice

1. Dunnage and bamboo mat are for the

buyer’s account
2. Shore tally to be at the Seller’s account
3. Vessel’s tally to be at the Buyer’s account
4. All export duties, taxes, levied in the
country of origin to be at the Seller’s
account

34
 Practice

5. The certificate of quality, weight and packing

issued by Vinacontrol at the loading port to
be final and for the Seller’s account.
6. Fumigation to be effected on board the
vessel after completion of loading with
expenses to be at the Seller’s account.
7. Time for fumigation is not counted as lay
time.

35
 Practice

8. In case of delay in payment, the Buyer shall

remit to the Seller interest calculated from
the date of presentation of documents to
the bank in---- to the date of effective
receipt of due amount. The interest shall be
calculated at Libor rate plus 1 per cent.

36