Medicinal Material Procurement Contract between Yunnan Shangri-La Tibetan Pharmaceutical Group Limited and Cili Peichu
Yunnan Shangri-La Tibetan Pharmaceutical Group Limited (the purchaser) and Cili Peichu (the supplier) have entered into an agreement for the supply of various medicinal materials, including Chinese cinnamon and other herbs, totaling RMB 3,759,938.68. The supplier must deliver the goods within 20 days of signing, and the purchaser will pay within 10 days after the products are received in the warehouse. Products must meet state and agreed quality standards, and any breach of contract requires the breaching party to compensate the other by 30% of the contract value.
Exhibit 10.10
Translation of Medicinal Material Procurement Contract
Party A (Purchaser): Yunnan Shangri-La Tibetan Pharmaceutical Group Limited
Party B (Supplier): Cili Peichu
| Product’s Name | Spec | Unit | Quantity | Unit Price | Value (RMB) | Procurement Period | Memo | |||||||
| Chinese cinnamon | kg | 13968 | 39.98 | 544,482.10 | 09.1.1-12.31 | |||||||||
| Xiaobopi San | kg | 2250 | 101.98 | 227,658.51 | 09.1.1-12.31 | |||||||||
| Rhizoma Kaempferiae | kg | 3189 | 41.10 | 131,057.67 | 09.1.1-12.31 | |||||||||
| Radix Et Rhizoma Rubiae | kg | 5303 | 113.17 | 600,153,10 | 09.1.1-12.31 | |||||||||
| Marvel of Peru | kg | 21195 | 37.26 | 789,737.00 | 09.1.1-12.31 | |||||||||
| Radix Onosmatis | kg | 5145 | 258.43 | 1,329,561.11 | 09.1.1-12.31 | |||||||||
| Niter | kg | 2230 | 61.57 | 137,289.20 | 09.1.1-12.31 |
The Aggregate Value: RMB 3,759,938.68
The Procurement Place: Yunnan Shangri-La Tibetan Medicine Group Co., Ltd.
Date of Delivery: Delivery within 20 days upon the signature of the Contract
Payment Method: Party A shall make payment of all the accounts payable within 10 days upon the entry of products in the warehouse and Party B shall draw the accounts receivable by presentation of the warehouse voucher.
Quality Standard: State Standard
Package: Polypropylene (PP) Knitted Bag or cloth bag free of any damage.
Quality Requirements by Party B: The products shall comply with the state quality standards as well as the agreed quality standard bases on the said quality standards; Packing Sound
Quality Requirements agreed by Both Parties: The Tibetan medicinal materials standard under the administration authorities of the Ministry of Public Health shall be executed.
Liability of Breach: The breached party shall make the compensation for the non-breach party by the amount equivalent to 30% of the aggregate value of the contract herein.
This contract is in duplicate and shall be effective upon both parties’ signature, seal, and putting one’s fingerprint.
Party A: Yunnan Shangri-La Tibetan Pharmaceutical Group Limited
Authorized Representative: Hong Yu (Signature)
Yunnan Shangri-La Tibetan Pharmaceutical Group Limited (Seal)
Signature Date: Jan 5, 2009
Party B: Cili Peichu
Authorized Representative: Cili Peichu (Signature)
Signature Date: Jan 5, 2009
