The terms “FOB”，“CFR” or “CIF” shall be subject to the “International Rules for the Interpretation of Trade Terms”(INCOTERMS1990) provided by International Chamber of Commerce( ICC) unless otherwise stipulated herein .
6 . STANDARD OF FRODUCTION :
7 . PACKING :
The packing of the goods shall be preventive from dampness, rust, moisture, erosion and shock , and shall be suitable for ocean transportation/ mutiple transportation. The Seller shall be liable for any damage and loss. of the goods attributable to the inadequate or improper packing.
The measurement, gross weight, net weight and the cautions such as “Do not stack up side down” , “Keep away from moisture,”“Handle with care” shall be stenciled on the surface of each package with fadeless pigment.
8. SHIPPING MARK:
9. TIME OF SHIPMENT :
10. PORT OF SHIPMENT:
11. PORT OF DESTINATION :
12. INSURANCE :
If the term of delivery is on FOB or CFR basis, insurance shall be effected by the Buyer.
If the term of delivery is on CIF basis, insurance shall be covered by the Seller for 110% of the invoice value against_______________;
Additional insurance__________________.
13. TERMS OF PAYMENT :
i3.1 Letter of Credit
The Buyer shall,____________ days prior lo the time of shipment, open an irrevocable Letter of Credit by Telex/Mail in favour of the Seller in the Bank of china. The L/C shall expire ____________days after the completion of loading of the shipment in the locality of the beneficiary.
13.2 Collection(D/P or D/A)
13.2.1 After shipment, the Seller shall draw a sight bill of exchange on the Buyer and deliver the documents through Seller' s Bank and ____________Bank to the Buyer against payment, i.e D/P. The Buyer shall effect the payment immediately up
on the first presentation of the bill (s) of exchange .
13.2.2 After shipment, the Seller shall draw a bill of exchange, payable_______
___________days after________________ on the Buyer and deliver the documents through Seller' s bank and____________ Bank to Buyer against acceptance ( D/A______
______days). The Buyer shall make payment on the maturity date of the bill of exchange.
13.3 Remittance(T/T or M/T)
The Buyer shall, within _________________days after the receipt of the Documents
required said in the Clause 14, pay the proceeds of the goods to the Seller by
means of T/T, M/T.
14 . DOCUMENTS REQUIRED :
The Seller shall present the following documents to the negotiating bank :
(A)Full set of clean on board ocean Bills of Lading made out to________________
___ /to the order of _________________and blank endorsed marked freight prepaid/
(C) Under the term of CIF, Insurance Policy/Insurance Certificate ______________
____________;
(D) Quality Certificate ;
(E) Packing List /Weight List /Quality List ________________________;
(F) Certificate of Origin .
(G) Notice of Shipment.
15. TERMS OF SHIPMENT :
15.1 On the CFR and CIF basis. the Seller shall inform the Buyer by Telex/Fax of
the name, nationality and age of the vessel no later than 10 days before the time of the shipment. The shipment shall not be effected without the confirmation
from the Buyer. The Buyer shall confirm the vessel within 5 working days, otherwise the vessel shall be regarded as confirmed .
15.2 On the FOB basis, the Buyer shall book shipping space in accordance with the date of shipment stipulated in the Contract. The Seller shall_________________
_________ days before the date of shipment stipulated in the Contract advise the
Buyer by Telex/Fax of the Contract number, the name of commodity ,quantity , total amount, package numbers, total weight, and volume and the date from which goods is ready for loading at the port of shipment. The buyer shall _____________days before the date of shipment, notify the Seller of name of the vessel, the estimated date of loading and the Contract number for the Seller to effect shipment. In case the carrying vessel or the date of arrival has to be changed, the Buyer of its shipping agent shall advise the Seller in time. Should the vessel fail to arrive at the port of shipment within______________ days after the arrival date advised by the Buyer shall bear the storage expense calculated from the ________________days thereafter .
The Seller shall be liable for any dead freight or demurrage, should they fail to have the quantity of the goods ready for loading in time as stipulated, while the carrying vessel has arrived at the port of shipment as advised.
15.3 Under the terms of FOB, CFR and CIF, Seller shall, immediately upon the completion of the loading of the goods, give a shipping notice to the Buyer by Telex/Fax. The notice includes the Contract number, name of goods, quantity, net and gross weight, measurement, invoiced value, bill of lading number, sailing date and the estimated date of arrival at the port of destination. The IMCO number of the inflammable and dangerous goods, if any, shall also be indicated.
15.4 Within____________ working days after the date when the vessel sets off, the Seller shall airmail one copy of each of the documents mentioned in clause 14 to the Buyer.
15.5 Transshipment is/is not allowed.
15.6 Partial shipment is/is not allowed.
15.7 With-％ more or less both in amount and quantity allowed at the Seller's
Option.
16. INSPECTION & CLAIMS:
16.1 The Buyer shall have the right to apply to the inspection organization for
The inspection of the goods after the arrival of the goods at the final destination /at the port of destination. The inspection organization is Import & Export Commodity Inspection Bureau of the People' s Republic of China.
16.2 Within 90 days from the date of the arrival of the goods at the final destination/from the date of the completion of unloading of the goods at the port of destination, should quality, specification, quantity, weight, packing and requirements for safety or sanitation/hygiene of the goods be found not in conformity with the stipulations of this Contract, the Buyer shall give a notice of claims to the Seller within the above mentioned time limit and have the right to lodge claims against the Seller on the strength of the inspection certificate issued by the inspection organization. The Seller shall undertake to make the compensation for claims, except those for which either the insurance company or the shipping company should undertake the obligations.
16.3 The Seller shall reply the Buyer no later than 15 days after receipt of the
Inspection certificate issued by the inspection organization and the claims shall be regarded as having within the above-mentioned time limit.
16 .4 considering the result from the defect of the goods said in Clause 16 and
Clause 17, the Buyer has the right to bring the claims for their damages against the Seller.
17. WARRANTY:
The Seller shall warrant that all goods delivered by the Seller shall be in conformity to the Contract stipulations, brand new and unused. Warranty period in within 12 months after the date of the arrival of the goods at the port of destination. Within the warranty period, the Seller shall remove all defects of the goods due to design, workmanship and improper material used either by repairing or by replacing the defective parts or the goods on his own account.
18. FORCE MAJEUER:
Either party shall not be held responsible for failure or delay to perform all or any part of the Contract due to flood, fire, earthquake, drought, war, or any other events, which could not be predicted at the time of the conclusion of the Contract, and could not be controlled, avoided or overcome by the parties. However, the Party shall inform the other party of its occurrence in written as soon as possible and thereafter send a certificate of the Event issued by the relevant authority to the other party but no later than 15 days after its occurrence.
If the Event of Force Majored last over 120 days, both parties shall negotiate the performance or the termination of the Contract.
19. ARBITRATION:
All disputes arising from the performance of this Contract should be settled through friendly negotiations. Should no settlement be reached through negotiation, the case shall then be submitted for arbitration to the China international Economic and Trade Arbitration Commission (Beijing) and the rules of this Commission shall be applied. The award of the arbitration shall be final and binding upon both parties. The losing party shall bind the arbitration fee unless otherwise awarded by the arbitration organization. During the course of the arbitration, the Contract shall be performed except for the part under arbitration.
20. SPECIAL PROVISIONS:
IN WITNESS THEREOF: This contract shall come into effect immediately after it is
Signed by both parties in two original copies, each party holds one copy.