Exhibit10.3 UnofficialEnglish Translation IndustrialProduct Purchase Contract
EX-10.3 4 v149004_ex10-3.htm Unassociated Document
Exhibit 10.3
Unofficial English Translation
Industrial Product Purchase Contract
| Seller: Beijing Zhongxin Chemical Development Company Buyer: Pacific Dragon Fertilizer Co., Ltd. | Contract No. 090001 Signing Location: Harbin Signing Date: December 2, 2008 |
Article 1
Products, Numbers, Prices and Delivery (Obtaining) Time:
| Product | License No. Trademark | Specs Type | Production Company | Unit of Measurement | Number | Price/ Unit | Amount | Delivery (Obtaining) Time and Number | ||||
| Total | ||||||||||||
| Special Type Fulvic Acid | Ton | 6545 | 9,100.00 | 59,559,500.00 | ||||||||
| Total Amount: RMB Fifty-nine million, five hundred and fifty-nine thousand and five hundred | ||||||||||||
Article 2
Standards of the Quality: National standard
Article 3
Periods and Conditions for Sellers to Be Responsible for Quality Standards: Within two months upon the arrival of the product.
Article 4
Standards of Packages, Supplies and Recycling of Packing Materials: None
Article 5
Necessary Items and Accessories to Products, Numbers of Tools and Supply Methods: None
Article 6
Standards and Calculations of Reasonable Losses: 1%
Article 7
The ownership of the product is transferred when it is out of the seller’s hands; however, if the buyer breaches its obligation of the payment, the ownership of the product shall belong to the seller.
Article 8
Methods and Locations of Delivery (Obtaining) of Products: Deliver the product to the location designated by the buyer.
Article 9
Methods, Arrival Stations (Harbors) and Expenses of Transportation: Railroad Transportation. The seller is responsible for all of the transportation expenses.
Article 10
Standards, Methods, Locations and Periods of Inspections: Conduct the on site inspection after the arrival of the product. The period is seven days.
Article 11
Installations and Adjustments of Whole Set of Equipments: None
Article 12
Methods, Time and Locations of Payments: Prepay 33% of the total amount. The rest of the payment is paid off upon the arrival of the product.
Article 13
Guarantees (or a separate guarantee agreement): None
Article 14
Conditions of Cancellation of Contract: Voluntarily and mutually negotiated by both parties.
Article 15
Breaches: The breaching parties shall be liable for losses.
Article 16
Dispute Resolutions: Any dispute arising from and in connection with the contract may be negotiated by both parties, or mediated by the local administration of industry and commerce. In the event that an agreement cannot be reached, the dispute shall be resolved according to (2) of the followings:
(1) Submit to Arbitration Commission.
(2) File a law suit to the People’s Court.
Article 17
The contract becomes effective from December 2, 2008.
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Article 18
Other matters: To be discussed.
| Seller Name: Beijing Zhongxin Chemical Development Company Address: /s/ Liu Quan Legal Representative: Liu Quan ID No. Entrusted Person: Phone: Deposit Bank: Account No.: Zip Code: | Buyer Name: Pacific Dragon Fertilizer Co., Ltd. Address: /s/ Chen Xiujuan Legal Representative: Chen Xiujuan ID No. Entrusted Person: Phone: Deposit Bank: Account No.: Zip Code: | Certified Opinion Certified Agency: Clerk: |
Effective Date: from December 2, 2008 to December 2, 2010
The sample contract is supervised and printed by Heilongjiang Administration of Industry and Commerce
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