Sample Business Contracts

No. P-06-08-14

 

 

Purchase Contract

 

 

Party A: Feiyang Industry & Trade Co., Ltd "The Supplier"

 

 

Party B: Shaanxi Jialong Hi-tech Industrial Co., Ltd (The Buyer)

 

According to the Contract Law of the People’s Republic of China, Party A and Party B agree to constitute the following purchase agreement:

 

Clause One: Product Name, Quantity, Unit Price and Gross Price

 

Name and Model: Downloading Machine, Model Number: X-09

 

Quantity: 140 sets

 

Unit Price: RMB14, 800.00 Yuan

 

Gross Price: RMB2, 072,000 .00Yuan (In Words: Two Million and Seventy Two Thousand Yuan Only)

 

 

Clause Two: .Delivery Date & Transportation

 

Party A shall deliver all 140 sets downloading machines to Party B ahead of Aug 25^th, 2006.

 

Clause Three: . Delivery Place and Transportation

 

Delivery Place: Business Place of Party B.

 

Transportation Way: Decided by Party A.

 

 

Clause Four: Quality Requirements

 

Party A shall guarantee that its delivered products should accord with the state standard and the quality requirement of Party B.

 

Clause Five: Acceptance Method and Objection Proposal Period

 

Acceptance Method: Party B shall implement the examination and acceptance of the products after delivered by Party A.

 

Objection Proposal Period: If finds some quality problems, Party B shall inform Party A within one month since the delivery date; otherwise, the products shall be regarded as the up to standard. The products with the quality guarantee period shall be disposed according to the rules in the quality guarantee period.

 

Clause 6 Settlement Way and Term

 

Within 3 days after the contract comes into force, Party B shall pay RMB1™480™000.00 Yuan(In Words: One Million Four Hundred and Eighty Thousand Yuan Only ) as the pre-paid payment( It will served as the products payment when Party A delivers the products). The rest payment shall be settled and paid according to the actual number of downloading machines. Party A shall offer the formal invoice to Party B.

 

Clause Seven: Responsibility of Contract Breaching

 

1. If Party B fails to pay the pre-paid payment according to the clause Six of this agreement, Party B shall pay it off within 2 days after Party A’s proposal and bear 1% of the pre-paid payment as violating fines; if Party B still fails to execute it, Party A has the right to terminate the agreement and Part B shall bear 5% of Pre-paid payment as violating fines;

 

2. If Party B fails to pay for the rest payment according to the Clause Six, as per day delay, it shall pay 0.01% of the rest payment to Party A as the daily late fees;

 

 

3. If Party A fails to deliver the products in the contracted period, it shall deliver it within 2 days after Party B proposes and bear 1% of the pre-paid payment as the violating fines:

 

4. If Party A fails to execute the content of Clause Three, Party B has the right to consult the actual situation to decide whether conceal this agreement or nor and Party A shall bear 5% of pre-paid payment as the violating fines.

 

Clause Eight: Disputes Settlement

 

Any disputes caused in the course of performing this agreement, shall be solved through two parties’ negotiation; if fails to reach agreement, either party shall take legal proceedings against the other party to the court located in the contract signed place.

 

Clause Nine: Miscellaneous:

 

Any uncovered matters shall be solved according to a supplementary agreement signed after the two parties’ negotiation. The supplementary agreement shall enjoy the same legal force with this agreement.

 

Clause Ten: This contract is made in duplicate; and each party holds one.

 

This contract shall be come into force since the date of being signed by the two parties.

 

 

Party A (Seal and Signature):		Party B (Seal and Signature):
Person in Charge:		Person in Charge:
Zhao Feiyang		Zhang Jianjun
August 14th, 2006