Industrial Product Sales Agreement between Shandong Shengda Chemical Machinery Co., Ltd and Shandong Shengda Chemical Co., Ltd (Steam Surge Tank)

Summary

This agreement is between Shandong Shengda Chemical Machinery Co., Ltd (Seller) and Shandong Shengda Chemical Co., Ltd (Buyer) for the sale of one steam surge tank at a price of RMB 558,350. The Seller will manufacture the tank to national standards and the Buyer's specifications, deliver it by February 22, 2003, and provide a one-year quality warranty. Payment is split into three installments. Ownership transfers upon delivery unless the Buyer fails to pay in full. Disputes are to be resolved through discussion, mediation, or court if necessary.

EX-10.12 13 zec8kex1012033106.txt INDUSTRIAL PRODUCT SALES AGREEMENT Exhibit 10.12 SALES CONTRACT OF INDUSTRIAL PRODUCTS ------------------------------------- NO.: 03010 SIGNED AT: Tai'an DATE: January 12, 2003 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: Steam Surge Tank UNIT: PIECE QUANTITY: One UNIT PRICE: RMB 558,350.00 yuan TOTAL AMOUNT: RMB 558,350.00 yuan (five hundred and fifty eight thousand and three hundred and fifty) yuan DATE OF DELIVERY: February 22, 2003 Article 2: QUALITY STANDARD The seller will manufacture the objects according to the National Standards and 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: 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: METHOD, TIME AND PLACE OF PAYMENT: 50% shall be paid after this contract becomes effective. 40% shall be paid after the object has been made and delivered; and the remaining amount of money shall be paid off within one year. Article 10: TERMINATION OF THIS CONTRACT: When the contract has been fully performed and after the remaining amount of money has been paid off. Article 11: 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 12: 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