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PURCHASE CONTRACTContract NO.: Date: Signed at:The Buyers: Address: Tel: Fax: E-mail:The Sellers: Address: Tel: Fax: E-mail:The Sellers and the Buyers agree to conclude this Contract subject to the terms and conditions stated below:1. Name, Specifications and Quality of Commodity:2. Quantity:3. Unit Price:4. Total Amount:5. Terms of Delivery FOB/CFR/CIF6. Country of Origin and Manufacturers:7. Packing:The packing of the goods shall be preventive from dampness, rust, moisture, erosion and shock, and shall be suitable for ocean transportation/multiple transportation. The Sellers shall be liable for any damage and loss of the goods attributable to the inadequate or improper packing. The measurement, packing NO., gross weight, net weight and the marks such as “This Side Up”, “Keep Away from Moisture”, ”Handle with Care” shall be stenciled on the surface of each packing with fadeless pigment.8. Shipping Marks:9. Time of Shipment:10. Port of Loading:11. Port of Destination:12. Insurance:Insurance shall be covered by the _for 110% of the invoice value against _Risks and _Additional Risks.13. Terms of payment (1) Letter of Credit: The Buyers shall, _days prior to the time of shipment/after this Contract comes into effect, open an irrevocable Letter of Credit in favor of the Sellers. The Letter of Credit shall expire _days after the completion of loading of the shipment as stipulated.(2) Documents against payment: After shipment, the Sellers shall draw a sight bill of exchange on the Buyers and deliver the documents through the Sellers bank and _Bank to the Buyers against payment, i.e. D/P. The Buyers shall effect the payment immediately upon the first presentation of the bill of exchange.(3) Documents against Acceptance: After shipment, the Sellers shall draw a sight bill of exchange, payable_ days and deliver the documents through the Sellers bank and _ bank to the Buyers against acceptance (D/A_ days). The Buyers shall make the payment on date of the bill of exchange.(4) Cash on delivery(COD): The Buyers shall pay to the Sellers total amount within_ days after the receipt of the goods(This clause is not applied to the Terms of FOB,CFR,CIF).14. Documents required:The Sellers shall present the following documents required to the bank for negotiation/collection:(1) Full set of clean on board Ocean/Combined Transportation/Land Bills of Lading and blank endorsed marked freight prepaid/ to collect;(2) Signed commercial invoice in _copies indicating Contract N., L/C No. (Terms of L/C) and shipping marks;(3) Packing list/ weight memorandum in _copies issued by_;(4) Certificate of Quality in _ copies issued by_;(5) Certificate of Quantity in _ copies issued by_;(6) Insurance policy/certificate in _copies(Terms of CIF);(7) Certificate of Origin in _ copies issued by_;(8) Shipping advice: The Sellers shall, within_ hours after shipment effected, send by courier each copy of the above-mentioned documents No._.15. Terms of Shipment:(1)FOB: The Sellers shall, 30 days before the shipment date specified in the Contract, advise the Buyers by _of the Contract No., commodity, quantity amount, packages, gross weight, measurement, and the date of shipment in order that the Buyers can charter an vessel/book shipping space. In the event of the Sellers failure to effect loading when the vessel arrives duly at the loading port, all expenses including dead freight and/or demurrage charges thus incurred shall be for the Sellers account.(2)CIF/CFR: The Sellers shall ship the goods duly within the shipping duration from the port of loading to the port of destination. Under CFR terms, the Sellers shall advise the Buyers by _ of the Contract No., commodity, invoice value and the date of dispatch two days before the shipment for the Buyers to arrange insurance in time.16. Shipping Advice:The Sellers shall, immediately upon the completion of the loading of the goods, advise the Buyers of the Contract No., names of commodity, loading quantity, invoice values, gross weight, name of vessel and shipment date by _ within_ hours.17. Quality Guarantee:The Sellers shall guarantee that the commodity must be in conformity with the quality, specifications and quantity specified in this Contract and Letter of Quality Guarantee. The guarantee period shall be _ months after the arrival of the goods at the port of destination, and during the period the Sellers shall be responsible for the damage due to the defects in designing and manufacturing of the manufacturer.18. Inspection(Choose one of followings) :(1) The Sellers shall have the goods inspected by _ days before the shipment and have the Inspection Certificate issued by _. The Buyers may have the goods re-inspected by_ after the goods arrival at the destination.(2) The manufacturers shall, before delivery, make a precise and comprehensive inspection of the goods with regard to its quality, specifications, performance and quantity/weight, and issue inspection certificates certifying the port of destination, the Buyers shall apply to China Commodity Inspection Bureau(CCIB) for a further inspection as to the specifications and quantity/weight of the goods. If damages of the goods found , or the specifications and /or quantity are not in conformity with the stipulations in this Contract, except when the responsibilities lies with Insurance Company or Shipping Company, the Buyers shall, within _ days after arrival of the goods at the port of destination, claim against the Sellers, or reject the goods according to the inspection certificate issued by CCIB. In case of damage of the goods incurred due to the design or manufacture defects and /or in case the quality and performance are not in conformity with the Contract, the Buyers shall, during the guarantee period request CCIB to make a survey.19. Claim:The Buyers shall make a claim against the Sellers by the further inspection certificate and all the expenses incurred therefrom shall be borne by the Sellers. The claims mentioned above shall be regarded as being accepted if the Sellers fail to reply within_ days after the Sellers received the Buyers claim.20. Late Delivery and Penalty:Should the Sellers fail to make delivery on time as stipulated in the Contract, with the exception of Force Majeure causes specified in Clause 21 of this Contract, the Buyers shall agree to postpone the delivery on the condition that the Sellers agree to pay a penalty which shall be deducted by the paying bank from the payment under negotiation. The rate of penalty is charged at _% for every_ days, odd days less than_ days should be counted as _ days. But the penalty, however, shall not Exceed_% of the total value of the goods involved in the delayed delivery. In case the Sellers fail to make delivery_ days later than the time of shipment stipulated in the Contract, the Buyers shall have the right to cancel the contract and the Sellers, in spite of the cancellation, shall nevertheless pay the aforesaid penalty to the Buyers without delay.The Buyers shall have the right to lodge a claim against the Sellers for the losses sustained if any.21. Force Majeure:The Sellers shall not be responsible for the delay of shipment or non-delivery of the goods due to Force Majeure, 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_ days thereafter the Sellers shall send a notice by courier to the Buyers for their acceptance of a certificate of the accident issued by the local chamber of commerce under whose jurisdiction the accident occurs as evidence thereof. Under such circumstances the Sellers, however, are still under the obligation to take all necessary measures to hasten the delivery of the goods. In case the accident lasts for more than_ days the Buyers shall have the right to cancel the Contract.22. Arbitration:Any dispute arising from or in connection with the Contract shall be settled through friendly negotiation. In case no settlement is reached, the dispute shall be submitted to China International Economic and Trade Arbitration Commission(CIETAC), Shenzhen Commission, for arbitration in accordance with its rules in effect at the time of applyi
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