Agreement for Sale of Commodity, dated January 12, 2011, by and among the Fifth Season (Zhejiang) Commerce and Trade Co., Ltd. and Guangdong Yuehe Assets Management Co., Ltd
Exhibit 10.20
Mineral Product Sales Agreement
| Contract No: | 20110112 |
| Supplier: | The Fifth Season (Zhejiang) Commerce and Trade Co., Ltd |
| Buyer: | Guangdong Yue He Asset Management Co., Ltd |
| Signed at: | Guangzhou, Guangdong Province |
| Date: | 2011-01-12 |
Article 1: Product Name, Specification, Quantity, Total Amount
| Product Name | Specification | Measurement Unit | Quantity (Ton) | Unit Price (RMB) | Total Amount (RMB) |
| Powdered Iron | Contain TE 66.2% | Dry Metric Ton | 2776(±0.5%) | 1183.23 (Tax included) | 3,284,646.48 |
Article 2: Quality Requirements, Technical Norms
International Powdered Iron:
P<0.1; PB<0.1; SI02<6.5; AS<0.05; ZN<0.1; AL203<2; CU<0.1; SN<0.1;
Article 3: Unit Price
RMB 1183.23 per Dry Metric Ton if the total quantity is within 3000 tons.
Article 4: Place of Delivery
Warehouse in Xiao Tang freight station
Article 5: Method of Transportation
The buyer shall take delivery of goods at its cost and expense
Article 6: Packing Standard
Cargo in bulk
Article 7: Reasonable Loss and Calculation Method
Reasonable Loss shall be limited to 5‰ of the net weight; the loss in excess of this maximum amount shall be supplemented by the supplier.
Article 8: Inspection Standard
Both parties shall take three samples together. Two samples shall be inspected by each party respectively, and the third sample shall be inspected by an authoritative institution. If the difference between both parties’ inspection results is more than 0.5%, the inspection result of authoritative institution shall be final. Particularly, if the content of TE is less than 66%, every 1% shall be deducted at RMB 20 per ton from the total amount; if the content if TE is more than 66%, every 1% shall be paid at RMB 20 per ton by the buyer.
Article 9: Method of Settlement
The supplier shall deliver the goods after has received the payment.
Article 10: Dispute Resolution
Any dispute arising from this contract shall be settled by consultation, if no agreement is reached by consultation, action shall be brought in the local People’s Court where the contract is concluded.
Article 11: Other Agreed Matters
The supplier shall issue the VAT-Invoice with full amount to the buyer after the goods have been delivered.
Article 12: Effectiveness
This contract shall be in effect until 2011-03-30.
Article 13:
This contract shall be signed in two counterparts; both parties hold one copy respectively. Any matters have not been stipulated in this contract shall be negotiated by both parties so as to reach a complementary agreement.
Supplier:
Name of Entity: The Fifth Season (Zhejiang) Commerce and Trade Co., Ltd
By: /seal/ The Fifth Season (Zhejiang) Commerce and Trade Co., Ltd
Buyer:
Name of Entity: Guangdong Yue He Asset Management Co., Ltd (signed and sealed)
By: /seal/ Guangdong Yue He Asset Management Co., Ltd
