Product Purchase and Sales Agreement between Tianjin Daxing Import & Export Trade Co., Ltd. and Liaoning Joway Technology Engineering Co., Ltd.

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Summary

Tianjin Daxing Import & Export Trade Co., Ltd. (Party A) and Liaoning Joway Technology Engineering Co., Ltd. (Party B) agree that Party A will act as Party B’s procurement agent for control valves and related products. The contract specifies product types, quality standards, and after-sales service, including a one-year warranty (extendable to 18 months). Prices are set by mutual agreement and include VAT and freight. Disputes will be resolved by arbitration in Tianjin. The contract is effective from October 1, 2008, to September 30, 2009.

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EX-10.11 27 v198379_ex10-11.htm
Contract of Purchases and Sales of Products

Party A: Tianjin Daxing Import & Export Trade Co., Ltd.
Party B: Liaoning Joway Technology Engineering Co., Ltd.
On the principle of cooperation and win-win results on the basis of fairness, honesty, trust, equal cooperation and mutual benefit，Party A and Party B reach the following consensus through full consultations with respect to Party B’s authorization to Party A as procurement agent of control valves (multiport valves) in accordance with the Contract Law of the People's Republic of China and its related laws.

1. Product
 
No.
  
Product Name
  
Specification
  
Unit
  
Unit Price
( Tax
Included)
  
Quantity
  
Amount
(Yuan)
1
  
Manually Operated Valve
  
F56E1-1
  
set
            
                         
2
  
Water Distributor
  
General
  
set
            
                         
3
  
Central Tube
  
Φ27mm
  
piece
            
                         
4
  
Water Cylinder
  
Φ365mm
  
piece
            
                         
6
  
Reducing Valve
  
4kg
  
piece
            
                         
Total
Amount
                        

2. Mode
Party B entrusts Party A with commodity purchases. Due to price changing with the market, the current settlement price including VAT and freight is determined via bilateral negotiation.

3.     After-Sales Quality and Service
The shelf life of the products supplied by Party A to Party B is 1 year (which can be extended to 18 months depending on the date code in valve body).  Party A shall change for new products or provide maintenance accessories free of charge（returning products through logistics ,excluding express delivery) in case there is any defect or quality problem resulting from products manufacturing in the warranty period. Party A shall provide free maintenance on the products beyond the warranty period or product defects caused by improper use of party B (the third party), but spare parts and in-transit freight shall be settled separately. Business involving returning goods shall be confirmed via faxes with reasons indicated; otherwise it shall not be done.

 
 
 

4. Arbitration
Any disputes arising from the performance of the contract between both parties that cannot be settled via negotiation on the principle of amicable consultations shall be submitted to the arbitration authority in Tianjin.

5. This contract is executed in duplicate, one for each, and shall enter into force after being signed and sealed by both parties. This contract shall take effect as of October 1, 2008 and shall expire on September 30, 2009.

Party A: Tianjin Daxing Import & Export Trade Co., Ltd.
/Stamp/ Tianjin Daxing Import & Export Trade Co., Ltd.
Attorney:
 
Address: No.8 Huatiandao Road，Tianjin

Party B: Liaoning Joway Technology Engineering Co., Ltd.
/Stamp/ Liaoning Joway Technology Engineering Co., Ltd.
Attorney:
Address: Clothing Park, Shaling Town, Yuhong District, Shenyang