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SALES CONTRACT
Whole Doc.
No:
Date:
For Account of:
Indent No:
This contract is made by and between the Sellers and the Buyers; Whereby the Sellers
agree to sell and the Buyers agree to buy the undermentioned goods according to the
terms and conditions stipulated below and overleaf:
(1) Names of commodity (ies) and specification(s)
(2) Quantity
(3) Unit price
(4) Amount
TOTAL:
__________% more or less allowed
(5) Packing:
(6) Port of Loading:
(7) Port of Destination:
(8) Shipping Marks:
(9) Time of Shipment: Within ____________________days after receipt of L/C, allowing
transhipment and partial shipment.
(10) Terms of Payment:
By 100% Confirmed, Irrevocable and Sight Letter of Credit to remain valid for
negotiation in China until the 15th day after shipment.
(11) Insurance:
Covers all risks and warrisks only as per the Clauses of the Peoples Insurance
Company of China for 110% of the invoice value.
To be effected by the Buyer.
(12) The Buyer shall establish the covering Letter of Credit before _________;
failing which, the Seller reserves the right to rescind this Sales Contract without
further notice, or to accept whole or any part of this Sales Contract, non-fulfilled by the Buyer, of to lodge claim for direct losses sustained, if any
(13) Documents: The Sellers shall present to the negotiating bank, Clean On Board
Bill of Lading, Invoice, Quality Certificate issued by the China Commodity Inspection
Bureau or the Manufacturers, Survey Report on Quantity/Weight issued by the China
Commodity Inspection Bureau, and Transferable Insurance policy or Insurance
Certificate when this contract is made on CIF basis.
(14) For this contract signed on CIF basis, the premium should be 110% of invoice
value. All risks insured should be included within this contract. If the Buyer asks to
increase the insurance premium or scope of risks, he should get the permission of the
Seller before time of loading, and all the charges thus incurred should be borne by
the Buyer.
(15) Quality/Quantity Discrepancy; In case of quality discrepancy, claim should be
filed by the Buyer within 30 days after the arrival of the goods at port of
destination; while for quantity discrepancy, claim should be filed by the Buyer within
15 days after the arrival of the goods at port of destination. It is understood that
the Seller shall not be liable for any discrepancy of the goods shipped due to causes
for which the Insurance Company, Shipping Company, other transportation organizations
and/or Post Office are liable.
(16) The Seller shall not be held liable for failure or delay in delivery of the
entire lot or a portion of the goods under this Sales Contract in consequence of any
Force Majeure incidents.
(17) Arbitration:
All disputes in connection with this contract or the execution thereof shall be
settled friendly through negotiations. In case no settlement can be reached, the case
may then be submitted for arbitration to China International Economic And Trade
Arbitration Commission in accordance with the provisional Rules of Procedures
promulgated by the said Arbitration Commission. The arbitration shall take place in
Beijing and the decision of the Arbitration Commission shall be final and binding
upon both parties; neither party shall seek recourse to a law court nor other
authorities to appeal for revision of the decision. Arbitration fee shall be borne by
the losing party. Or arbitration may be settled in the third country mutually agreed
upon by both parties.
(18) The Buyer is requested always to quote THE NUMBER OF THE SALES CONTRACT in the
Letter of Credit to be opened in favour of the Seller.
(19) Other Conditions:
Seller： Buyer：
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