1.1)Payment:the amount of this contract is paid in several times,the details as following:
30% of the amount of the contract should be paid in advance within 60 days after the contract signed,that is USD15,000(United Stats Dollars Fifteen Thousand Only) shoud be paid in advance.
2)The first payment comes within 90 days after the contract signed,the amount is USD25,000(United Stats Dollars Twenty Five Thousand Only),50% of the amount of the contract.
2.30% of the total value of the contract shall be pay in advance at the moment the contract signed,and 40% of the total value shall be paid with the documentary draft at shipping.,and the left shall be paid according to the issue certificate of quality check after the quality cheched.L/C shall be opened before 3,Jun,2006.
3.The documents required under the L/C are as following:1)Full set clean B/L 2)Insurance policy of all risks in
4.The seller should deliver the cargo to the buyer by partial shipment(in two times).1).In the first time of the delivery it should be deliverd within 50% days after the signed of the contract.2)The seller should notice the quantity of the shipped cargo by fax within 30days of the shipment each time.
5.If the seller breaks the contract,the buyer is entitled to take actions to compensate the lost.
6.The buyer is entitled to terminate the contract if the seller put off the delivery or the delivered commodity is not in accordance with the required condition.
7.The buyer holds the right to claim compensation
8.The buyer is entitled to cancel the contract.
9.The contract becomes effective since the signatured day,the appendix is a necessary part of the contract by effecting the same force as the contract.
10.Insurance:All ricks in should be adopted based on 110% of the contract amount.The seller should buy all risks in marine insurance based on 110% of the contract amount(insuring to the buyer’s warehouse in London).If the buyer require other insurance items,the cost will be on the buyer’s.
