Industrial Product Sales Agreement between Shandong Taifeng Minerals Co., Ltd and Shandong Bangsheng Chemical Co., Ltd (Bituminous Coal)

Summary

This agreement is between Shandong Taifeng Minerals Co., Ltd (Seller) and Shandong Bangsheng Chemical Co., Ltd (Buyer) for the sale of 24,000 tons of bituminous coal at RMB 450 per ton, totaling RMB 10,800,000. Deliveries will be made monthly over one year, with the Seller responsible for transportation and any losses. The Buyer will inspect the coal upon delivery and pay cash on delivery. Disputes will be resolved through discussion, mediation, or court if necessary. The contract is effective from March 5, 2005, for one year.

EX-10.29 30 zec8kex1029033106.txt INDUSTRIAL PRODUCT SALES AGREEMENT Exhibit 10.29 SALES CONTRACT OF INDUSTRIAL PRODUCTS ------------------------------------- NO.: SIGNED AT: Tai'an DATE: March 5, 2005 This contract is made and entered into by and between Shandong Taifeng Minerals Co., Ltd (hereinafter referred to as the Seller) and Shandong Bangsheng 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: Bituminous Coal Producer: Taifeng Minerals UNIT: ton QUANTITY: 24,000 UNIT PRICE: RMB 450 yuan TOTAL AMOUNT: RMB 10,800,000 (ten million, eight hundred thousand) yuan DATE OF DELIVERY: From March 5 2005 to March 5 2006, 2,000 tons each month Article 2: QUALITY STANDARD Be subject to the Quality Standards of Bituminous Coal provided by the successful bidder. Article 3: SUPPLY QUANITY REQUIREMENT: The monthly supply shall no less than 2,000 tons. Article 4: STANDARD FOR REASONABLE WEAR AND TEAR AND COMPUTING MODE: The quantity shall be based on the weighing slip on the scale at the factory, and any losses shall be responsible for the Seller itself. Article 5: MEANS AND PLACE OF DELIVERY: The Buyer's bituminous coal stock. Article 6: MODE OF TRANSPORAT AND DESTINATION AND COST ALLOCATION: By road; the Seller shall pay the cost. Article 7: STANDARD, METHOD, and PLACE AND TIME LIMIT OF INSPECTION: The check and acceptance will be done in the place of the Buyer; those failing to meet the standards will be rejected. Article 8: METHOD, TIME AND PLACE OF PAYMENT: Cash on Delivery. Article 9: BREACH LIABILITY: shall be governed by the provisions of 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 as of the fifth day of March, 2005. Article 12: MISCELLANEOUS: The contract period is one full year. THE SELLER: THE BUYER: Shandong Taifeng Minerals Co., Ltd Shandong Bangsheng Chemical Co., Ltd /s/ Liu Changzhou /s/ Wang Gongqin - ---------------------------------- ------------------------------------ AUTHORISED SIGNATURE AUTHORISED SIGNATURE