040418bel Contract

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   No:Dated: 1. It is agreed that the Seller commits to sell and the Buyer commits to buy the following described goods upon the terms and conditions hereinafter set forth:NoItem Name & Specification Packing Carton boxQuantity (MT)Total Amount (USD)1 SPLIT CINNAMOMUM 10KGS 2,160.00 14 30,240 2 PRESSED CINNAMOMUM 25KGS 2,050.00 1 2,050 3,024 29,266 2. Delivery a. Shipment date: within 10 days after receiving advance b. Port of Loading : Haiphong port, Vietnamc. Port of Delivery: Mundra port, India 3. Marking: as request of BuyerSALES CONTRACT April 4, 2017 SELLERBUYER PROSI THANG LONG JOINT STOCK COMPANY Floor 4th, Kim Anh Building, No 78 Duy Tan, Cau Giay, Hanoi, VietnamSHAKUN DISTRIBUTIONBranch Ashram Road Ahmedabad, Gujarat,IndiaHead Office 501 Princess Empire Race CourseRoad Indore MP India 452001Tel: +917312544111, 2544123040418/BEL Unit Price(USD/MT)TOTALBALANCE AMOUNT TO BE PAID UNDER D/P AT SIGHT 32,290 SELLER’S BANK DETAILSBUYER’S BANK DETAILS VIETNAM BANK FOR AGRICULTURE ANDRURAL DEVELOPMENT, SOGIAODICHBRANCH NO. 2 & 4 LANG HA STR., THANH CONGWARD, BA DINH DIST., HANOI, VIET NAMSWIFT CODE: VBAAVNVX405A/C NO: Ratnakar Bank Ltd. (RBL Bank)3, Ground Floor, The Grace, Plot No. 1&2, KibeCompound Indore-452001Account No. 409000550038IFSC- RATN0000164Swift Code- RATNINBB DEPOSITED The above price is understood As per Incoterms, 2010) to be CIF MUNDRA, INDIA IN WORRDS: US DOLLARS THIRTY TWO THOUSAND TWO HUNDRED AND NINETY ONLY * This price is for white carton box PROSI THANGLONG JOINT STOCK COMPANY (PROSI, JSC)   Address: Floor 4th, Kim Anh Building, No 78 Duy Tan, Cau Giay, Hanoi, Vietnam Tel/Fax: (+84) 043.7959977 Email: Website: |  Page 1  PROSI THANGLONG JOINT STOCK COMPANY (PROSI, JSC)   Address: Floor 4th, Kim Anh Building, No 78 Duy Tan, Cau Giay, Hanoi, Vietnam Tel/Fax: (+84) 043.7959977 Email: Website: |  4. Payment Terms & Banking Charges : . Advance to be paid by T/TUSD. Balance amount to be paid by DP at sight29,266 USD· Seller and Buyer shall be responsible for bank charges in their respective banks.· Insurance premum w e pa y Seer  5. Documents Required : · Commercial Invoice (3/3)· Packing List (3/3)· Bill of Lading (BL)(3/3)· Phyto-sanitary Certificate(3/3)· Fumigation Certificate(3/3)· Certificate of Origin in AI Form (3/3)· Insurance Certificate 6. Guarantee, Re-inspection, Claim and Compensation :7. Late Delivery, Late Payment and Cancellation : · LATE PAYMENT & CANCELLATION: Seller has the right to cancel or stop this contract if the agreed deposit is transferred late. If the Buyer delays the balanced payment, the Seller has the right to ship the goods back the srcinal country or to sell the goods to other buyers.· D/P at sight through the Buyer's Bank against srcinal documents within 10 working days. If later and without any notice from the Buyer, the Seller has right to take srcinal documents back and the oods will be at the Seller's disosal. Documents issued b third art are accetable· GUARANTEE: Seller shall guarantee that the supplied goods shall be safe, reliable and made of the best materials. Commodities are entirely in conformity with the quality, specifications as · RE-INSPECTION: Buyer should re-inspect the goods at the port of discharge and notify the Seller by email or fax within 5 days and confirmed in writing within 7 days after sending email if the goods are damaged or do not comply with any of this contract. Seller & the Buyer mutually agree that the SGS indeendent surveor coman shall be aointed to assess the weiht uantit & · CLAIM: If recognizing that weight, quantity, quality or package are not in conformity with the agreement of the contract, the Buyer shall give a notice of claims to the Seller & have the right to lodge claims against the Seller based on certificates issued by the SGS/Lloyds/equivalent will be done and binding on both parties· COMPENSATION: Compensation will be calculated according to losses of the Buyer.· LATE DELIVERY: Delivery time is calculated from the arrival of the agreed deposit to the Seller’s bank account. Whenever being aware of a delay in delivery, the Seller is responsible for notifying the Buyer promptly, also pointing out reasons for the delay and stating the new delivery date. If the delay results from delayed access to raw material, mechanical breakdown, or another similar circumstance, the Seller is not required to compensate the Buyer for any resulting loss that the Buyer may incur. The Seller is not legally responsible to compensate the Buyer for any indirect damage, including, but not restricted to, production loss, loss of profit or another consequential financial loss arising from a delay or faulty delivery.3,024  Page 2  PROSI THANGLONG JOINT STOCK COMPANY (PROSI, JSC)   Address: Floor 4th, Kim Anh Building, No 78 Duy Tan, Cau Giay, Hanoi, Vietnam Tel/Fax: (+84) 043.7959977 Email: Website: |  8. Force Majeure 9. Arbitration10. General ConditionsFOR THE SELLER FOR THE BUYER  Seller & the Buyer shall not be responsible for the non - performance of this contract in case of Force Majeure. However, if force majeure circumstance happens, Seller must notify the Buyer by email or fax within 5 days and confirmed in writing after 7 days after sending email and together with a certificate of force majeure issued by the competent government authorities for acceptance or non-acceptance. Beyond this time force majeure circumstances shall not be taken into consideration. The Both parties agree that the Force Majeure (exemptions) clause of the International Chamber of Commerce (ICC publication No.421) is hereby incorporated on this contract. This contract will be governed by the provision of “Incoterms 2010”. If any dispute arising under this contract is not settled by a amicable negotiation between the two sides, then the dispute shall be settled by the International Commercial Arbitration Center attached to the Chamber of Commerce an Industry of Vietnam for the final settlement. The decision taken by arbitration board will be the final and all the fees and expenses occurred in this arbitration shall be borne by losing party.· This contract comes into effect and be full of force from signing date, any amendment and additional clauses to these conditions shall be valid only if made in writing and duly confirmed by the both parties (the seller and buyer) and considered as parts of this contract.· This contract is made in English in 02 copies and to be signed through email or by fax.· The contract is automatically liquidated after the Seller receives full payment and the Buyer receives the goods. Page 3    Page 4
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