Sales Contract of Finished Oil
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Business Operations
- Sales Agreements
EX-10.29 79 v108248_ex10-29.htm
Sales Contract of Finished Oil
Contract No.: 200606143
Seller: Xi’an Baorun Industrial Development Co., Ltd. Place: Shouguang
Buyer: Shouguang City Lian Meng Petroleum & Chemical Co., Ltd. Date: May 10, 2005
| 1. | Product, Quantity, Price and Delivery Time. |
| Product | Density | Manufacturer | Unit | Quantity(Ton) | Price | Total Amount(Yuan) | Delivery Time |
| Conventional residual | 910.00 | Yanlian | Ton | 3,000 | 3050.00 | 9,150,000.00 | May 10, 2005—May 31, 2005 |
| Total Amount : Nine million one hundred and fifty thousand Yuan | |||||||
| 2. | Quality Standard: |
Density: 910.00kg/mî below; residual carbon≯5.0%, Sulphur≯0.5%, water ≯0.5%, water ≯0.5%--deducting, no other impurity.
| 3. | The term of the Supplier’s responsibility for quality: the Supplier will compensate the Buyer for all the loss from quality problem. |
| 4. | Package Standard. |
Supply and recycling of wrappage: none.
| 5. | The quantity and supply means of random must-haves, accessories and tools: none. |
| 6. | Measurement Standard and Calculation of Reasonable Loss |
| Using the data from Boxing Station |
| The two parties should check the platform scale. In case of any dispute the two parties shall resolve it timely. |
| 7. | The product should belong to buyers once the product passes the quality test. If the buyer doesn’t pay the purchasing price the product still belongs to the seller. |
| 8. | Delivery place: Boxing Jing Bo Logistic railway station |
| 9. | Transportation manner, arriving station and fees |
| The seller shall bear all of the transportation fees. |
| 10. | The Standard , Method, Place and Term of the Quality Test |
Using the test results from the buyers.
In case of any dispute the two parties shall resolve it timely.
| 11. | Transportation Fees |
The buyer shall bear the transportation expenses from Jing Bo Logistic railway station to the delivery by buyer and the expenses of unloading goods.
| 12. | Payment Term |
The unit price is 3,050.00/ton and the total price is paid upon two invoices (railway invoice-170 Yuan/ton and VAT invoice). The 80% of the total price will be paid upon receiving the goods and the balance will be paid upon
receiving the two invoices. And the total price should be paid in cash.
| 13. | Guarantee form (a guarantee contract could also be made.) : None |
| 14. | Termination |
This contract may be amended or canceled by the two parties hereto for force majeure.
| 15. | Default |
| The liability of default and breaching action shall be resolved in compliance with Contract Law of the People's Republic of China |
| 16. | In case of any dispute, the two parties hereto shall negotiate friendly or they may propose a suit to the local People’s Court in the place where the suitor is located. |
| 17. | This contract shall be effective upon the signing by the two parties hereof. |
| 18. | Others |
| If the market changes the two parties hereto shall resolve the problem through actively negotiation. |
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| Seller | Buyer | Notary |
| Seller (seal): Xi’an Baorun Industrial Development Co., Ltd. Address: Legal person: Authorized person: Tel: Fax: Opening Bank: Account #: Zip Code: | Buyer(seal): Shouguang City Lian Meng Petroleum & Chemical Co., Ltd. Address: # 67 Jinguang Xijie, Shouguang city Legal person: Zhang Xueqing Authorized person: Tel: 0536 ###-###-#### Fax ###-###-#### Opening Bank: Shouguang Branch of Industrial &Commercial Bank of China Account #:1607006109022100171 Tax ID: 370783733716073 | Opinion: Seal of the Notary By: Date: |
