Industrial Product Sales Agreement between Shandong Shengda Chemical Machinery Co., Ltd and Shandong Shengda Chemical Co., Ltd (Gas Sensible Heat Device)

Summary

This agreement is between Shandong Shengda Chemical Machinery Co., Ltd (Seller) and Shandong Shengda Chemical Co., Ltd (Buyer) for the sale of one Gas Sensible Heat Device at a price of RMB 1,478,704.21. The Seller will deliver, install, and test the equipment at the Buyer's site by February 26, 2003, and provide a one-year quality warranty. Payment is split into three installments. Ownership transfers upon delivery unless full payment is not made. Disputes are to be resolved through discussion, mediation, or court if necessary.

EX-10.5 6 zec8kex105033106.txt INDUSTRIAL PRODUCT SALES AGREEMENT Exhibit 10.5 SALES CONTRACT OF INDUSTRIAL PRODUCTS ------------------------------------- NO.: 02600 SIGNED AT: Tai'an DATE: December 16, 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: Gas Sensible Heat Device UNIT: PIECE QUANTITY: One UNIT PRICE: RMB 1,478,704.21yuan TOTAL AMOUNT: RMB 1,478,704.21 (One million, four hundred and seventy-eight thousand, seven hundred and four point two one) yuan DATE OF DELIVERY: February 26, 2003 Article 2: QUALITY STANDARD Be subject to: 1. The Drawing Sheet provided by the Buyer; 2.The National Trade Standard. Article 3: TERMS AND TIME LIMIT OF QUALITY ASSURANCE OF THE SELLER: 1 Year of Quality Warranty Article 4: NUMBER OF NECESSITIES, SPARE PARTS, TOOLS TO BE PACKED WITH THE SAID EQUIPMENT, AND METHOD OF SUPPLY: In accordance with the requirements indicated in the drawing sheet. Article 5: 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 6: MEANS AND PLACE OF DELIVERY: The site where the buyer uses the goods. Article 7: MODE OF TRANSPORAT AND DESTINATION AND COST ALLOCATION: By road; the Seller shall pay the cost. Article 8: 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 9: THE INSTALLATION AND TESTING OF THE COMPLETE EQUIPMENT: The Seller shall be responsible for them. Article 10: METHOD, TIME AND PLACE OF PAYMENT: 50% shall be paid after this contract becomes effective. 40% shall be paid after the successful installation and testing; and the remaining amount of money shall be paid - off within one year. Article 11: TERMINATION OF THIS CONTRACT: After the remaining amount of money has been paid off. Article 12: 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 13: 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