Sales Contract between Shandong Green Foodstuff Co., Ltd. and Shinsei Foods Co., Ltd. for Peeled Chestnuts
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Summary
Shandong Green Foodstuff Co., Ltd. agrees to sell 70,000 cans of peeled chestnut products to Shinsei Foods Co., Ltd. for a total price of $3,520,000, with delivery by November 30, 2006, from Qingdao Port to a port in Japan. Payment will be made by letter of credit, and the buyer is responsible for insurance. The contract allows for a 5% variation in quantity and amount. Disputes will be resolved through negotiation or arbitration in China. Both parties face penalties for non-performance.
EX-10.12 61 v073867_ex10-12.htm
Exhibit 10.12
(English Translation)
SHANDONG GREEN FOODSTUFF CO.,LTD.
Sales Contract
Contract No: SHINSEI-5
Date: SEP 5, 2006
The Seller: SHINSEI FOODS CO., LTD.
The Seller and Buyer have agreed to close the following transactions according to the terms and conditions stipulated as below:
| 1 Commodity description | 2 Packing | 3Quantity | 4 Unit Price | 5 Amount | ||||
| PEELED CHESTNUTS PRODUCTS | 18L | 70000.00CAN | FOB | USD ###-###-####.00 | ||||
| TOTAL AMOUNT IN WORD: U.S.DOLLARS THIREE MILLON FIVE HUNDRED TWENTY THOUSAND ONLY. | ||||||||
6. Time of Delivery: NOV 30, 2006
7. Port of Loading: QINGDAO PORT
8. Port of Destination: JAPAN PORT
9. Shipping marks: N/M
10. Terms of Payment: L/C
11. Insurance: to be effected by BUYER .
12. 5 % more or less in quantity and amount is allowed.
13. Quality/quantity claims: if any, quality claims should be sent to the Seller in written form during next 14days after discharging of merchandise; quantity claims should be sent to the Seller in written form during next 3 days after discharging of merchandise.
15. Responsibilities of the parties: In case of either party’s refusal of performance of the present contract, it pays the other party the penalty of 25% of the amount of the covered goods and restitutes the relative losses in spite of the penalty.
16. Force Majeure: The Seller shall not be held reliable for failure or delay in delivery of the covered cargo or a portion under the present contract in consequence of any force majeure incidents.
17. Arbitration: All dispute, if any, arising form or in connection with the performance of the contract shall be settled through friendly discussion/negotiation by both parties. otherwise, to be presented to the China Relevant Authorities for arbitration, and the decision is the final for both parties.
18. Other: As per the Popular Practice and Uniforms of the International Trade.
The buyer: Shinsei Foods Co., Ltd.
President: /s/ Teruyoshi Kanbara
The seller: Shandong Green Foodstuff Co., Ltd.
/s/ Chen Si
