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SALES CONTRACT - Junk Iron
SALES CONTRACT - Junk Iron
No.
Date: July 1, 2008
Between:
Address
Tel:
Fax:
Represented by:
hereinafter referred as THE SELLER
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:
2
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 spirit 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 arises, 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
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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 agreements before are to
be invalid.
10.2. This contract comes into effect from the day of signing, all the changes and
complements should be valid if they are made on document, within the agreement
of both 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.