Industrial Product Sales Agreement between Shandong Shengda Chemical Machinery Co., Ltd and Shandong Shengda Chemical Co., Ltd

Summary

This agreement is between Shandong Shengda Chemical Machinery Co., Ltd (the Seller) and Shandong Shengda Chemical Co., Ltd (the Buyer) for the sale of one oil tank at a price of RMB 585,940.80. The Seller will manufacture the oil tank according to the Buyer's specifications and deliver it by February 10, 2003. The Buyer must pay in installments, with full payment due within one year. The Seller provides a one-year quality warranty. Ownership transfers upon delivery, unless the Buyer fails to pay in full. Disputes will be resolved through discussion, mediation, or court if necessary.

EX-10.2 3 zec8kex102033106.txt INDUSTRIAL PRODUCT SALES AGREEMENT Exhibit 10.2 SALES CONTRACT OF INDUSTRIAL PRODUCTS ------------------------------------- NO.: 02596 SIGNED AT: Tai'an DATE: _December 10, 2002 This contract is made and entered into by and between Shandong Shengda Chemical Machinery Co., Ltd (hereinafter referred to as the Seller) and Shandong Shengda Chemical Co., Ltd (hereinafter referred to as the Buyer); whereby the Seller agree to sell and the Buyer agree to buy the commodity mentioned in this contract subject to the terms and conditions stipulated below: Article 1: Object, Quantity, Price and Date of Delivery NAME OF COMMODITY: Oil Tank UNIT: PIECE QUANTITY: One UNIT PRICE: RMB 585,940.80 yuan TOTAL AMOUNT: RMB 585,940.80 (five hundred and eighty-five thousand, nine hundred and forty point eight) yuan DATE OF DELIVERY: February 10, 2003 Article 2: QUALITY STANDARD The seller will manufacture the object according to the drawing sheet provided by the Buyer. Article 3: TERMS AND TIME LIMIT OF QUALITY ASSURANCE OF THE SELLER: 1 Year of Quality Warranty Article 4: TITLE TO THE GOODS SHALL BE PASSED UPON DELIVERY; HOWEVER, IF THE BUYER FAILS TO PERFORM THE OBLIGATION OF PAYING THE FULL AMOUNT OF PURCHASE PRICE, TITLE TO THE GOODS SHALL REMAIN WITH THE SELLER. Article 5: MEANS AND PLACE OF DELIVERY: The site where the buyer uses the goods. Article 6: STANDARD, METHOD, and PLACE AND TIME LIMIT OF INSPECTION: The inspection will be done pursuant to Article 2 at the place of delivery. Any dispute shall be raised within three days. Article 7: METHOD, TIME AND PLACE OF PAYMENT: 50% shall be paid after this contract becomes effective. 20% shall be paid after the delivery; 20% shall be paid after the inspection and acceptance; and the remaining amount of money shall be paid off within one year. Article 8: TERMS FOR THE TERMINATION OF THIS CONTRACT: After the remaining amount of money has been paid off. Article 9: BREACH LIABILITY: Be subject to the stipulations in the Contract Law. Article 10: METHOD OF SETTLING THE DISPUTE OVER THE CONTRACT: IN THE PERFORMING OF THIS CONTRACT, IF ANY DISPUTE ARISES, THE TWO PARTIES SHALL SETTLE IT THROUGH FRIENDLY DISCUSSIONS; THE DISPUTE CAN ALSO BE MEDIATED BY THE LOCAL INDUSTRIAL AND COMMERICAL ADMINISTRATION; IF NO SETTLEMENT COMES FROM THE DISCUSSIONS OR MEDIATATIONS, THE DISPUTE SHALL BE SETTLED BY LAWSUITS THROUGH THE PEOPLE'S COURT. Article 11: THIS CONTRACT SHALL BECOME EFFECTIVE after having been officially signed by the two parities. THE SELLER: THE BUYER: Shandong Shengda Chemical Machinery Co., Ltd Shandong Shengda Chemical Co., Ltd /s/ Gong Xingyu /s/ Wang Wei - ------------------------- ---------------------------------- AUTHORISED SIGNATURE AUTHORISED SIGNATURE