Industrial Product Sales Agreement between Shandong Shengda Chemical Machinery Co., Ltd and Shandong Shengda Chemical Co., Ltd (Tube Machine)

Summary

This agreement is between Shandong Shengda Chemical Machinery Co., Ltd (Seller) and Shandong Shengda Chemical Co., Ltd (Buyer) for the sale of one tube machine at a price of RMB 132,800. The Seller will manufacture the machine according to the Buyer's specifications and deliver it by February 16, 2003. The Buyer must pay 70% upfront, 20% after inspection, and the remaining 10% within one year. The Seller provides a one-year quality warranty. Ownership transfers upon delivery, unless full payment is not made. Disputes are to be resolved through discussion, mediation, or court if necessary.

EX-10.8 9 zec8kex108033106.txt INDUSTRIAL PRODUCT SALES AGREEMENT Exhibit 10.8 SALES CONTRACT OF INDUSTRIAL PRODUCTS ------------------------------------- NO.: 02607 SIGNED AT: Tai'an DATE: December 26, 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: Tube Machine UNIT: PIECE QUANTITY: One UNIT PRICE: RMB 132,800.00 yuan TOTAL AMOUNT: RMB 132,800.00 (one hundred and thirty-two thousand, and eight hundred) yuan DATE OF DELIVERY: February 16, 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: 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: The Seller shall be fully responsible. 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: METHOD, TIME AND PLACE OF PAYMENT: 70% shall be paid after this contract becomes effective. 20% shall be paid after the successful inspection and acceptance; and the remaining 10% shall be paid off within one year. Article 10: TERMINATION OF THIS CONTRACT: After the remaining amount of money has been paid off. Article 11: BREACH LIABILITY: shall be governed by the provisions of the Contract Law. 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