Purchase Agreement between Shengda Color and Jiangsu Lee & Man Paper Manufacturing Co., Ltd. for Brown Paper
Shengda Color agrees to buy 1,000 tons of brown paper from Jiangsu Lee & Man Paper Manufacturing Co., Ltd. at specified prices per ton, with delivery at a location in Hangzhou. Payment will be made monthly, 45 days after delivery, via bank acceptance. The contract becomes effective upon signing by both parties and must be signed within 7 days or it can be cancelled. Product prices may change with market conditions if both parties agree. Delivery tolerance is set at plus 0.3%.
Exhibit 10.12
Form of Purchase Agreement
(English Summary)
| Parties to Contract | Shengda Color as Buyer and Jiangsu Lee & Man Paper Manufacturing Co., Ltd. as Vendor |
| Details of Products | Brown paper N140'170g 2,900 per ton and the total amount is 500 tons |
| Brown paper N200'250g 2,850 per ton and the total amount is 500 tons | |
| Location of Purchase | North of the Beitang River, Xiaoshan Economic and Technology Development Zone, Hangzhou |
| Method of payment | Monthly payment at 45 days by Bank Acceptance |
| Undertaking | 1. | The tolerance of delivery is +0.3% |
| 2. | The contract will become effective when the two parties sign on it, and it may be cancelled unless it is signed back in 7 days | |
| 3. | The price of products will change with market conditions and any change will be approved by the two parties. | |
