Industrial Product Sales Contract between Shandong Haize Nanomaterials Co., Ltd and Triangle Tire Co., Ltd

Summary

This contract is between Shandong Haize Nanomaterials Co., Ltd (the Seller) and Triangle Tire Co., Ltd (the Buyer) for the sale of 3,600 tons of Nanometre Calcium Carbonate over one year, from August 2005 to August 2006. The Seller will deliver 300 tons each month to the Buyer's warehouse, with payment made by bank draft. The Seller covers transportation costs. Product quality and packing standards are specified, and disputes will be resolved through discussion, mediation, or court if necessary.

EX-10.38 39 zec8kex1038033106.txt INDUSTRIAL PRODUCT SALES CONTRACT Exhibit 10.38 SALES CONTRACT OF INDUSTRIAL PRODUCTS ------------------------------------- NO.: SIGNED AT: Tai'an DATE: August 10, 2005 This contract is made and entered into by and between Shandong Haize Nanomaterials Co., Ltd (hereinafter referred to as the Seller) and Triangle Tire 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: Nanometre Calcium Carbonate Trademark: Sheng Ke Specification: 602 Manufacturer: Shandong Haize Nanomaterials UNIT: ton QUANTITY: 3,600 UNIT PRICE: RMB 3,960.00 yuan TOTAL AMOUNT: RMB 14,256,000.00 (fourteen million, two hundred and fifty-six thousand) yuan DATE OF DELIVERY: From August 2005 to August 2006, 300 tons each month Article 2: QUALITY STANDARD Be subject to the Q/VLT 2000 Enterprise Standard. Article 3: PACKING STANDARD AND THE PROVISION AND RECOVERY OF PACKINGS: Outer packed with paper bag and inner packed with plastic bag. Article 4: STANDARD FOR REASONABLE WEAR AND TEAR AND COMPUTING MODE: The quantity shall be based on the quantity accepted and put in the storage by the Buyer. Article 5: MEANS AND PLACE OF DELIVERY: The warehouse of the buyer. 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 inspection will be done in accordance with agreed standards, and if there is any objection, it will be made clear to the other party within 15 days. Article 8: METHOD, TIME AND PLACE OF PAYMENT: By bank draft. 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 after having been officially signed by the two parities. Article 12: MISCELLANEOUS: The contract period is one full year, starting from August 10, 2005 and ending on August 10, 2006. THE SELLER: THE BUYER: Shandong Haize Nanomaterials Co., Triangle Tire Co., Ltd Ltd /s/ Ma Zhaowei /s/ Yu Zhongming - --------------------------------- ------------------------- AUTHORISED SIGNATURE AUTHORISED SIGNATURE