Medicinal Material Packaging Procurement Contract between Yunnan Shangri-La Tibetan Pharmaceutical Group Limited and Kunming Morningstar Printing Co., Ltd.
Yunnan Shangri-La Tibetan Pharmaceutical Group Limited (the purchaser) and Kunming Morningstar Printing Co., Ltd. (the supplier) have entered into a contract for the supply of various packaging materials, including boxes, instruction manuals, packing, and sealing labels, with a total value of RMB 14,825,133.18. The supplier must deliver the products within 45 days of signing, and the purchaser will pay within 30 days after the goods are received. Products must meet state and agreed quality standards. If either party breaches the contract, they must compensate the other party 30% of the contract's total value.
Exhibit 10.11
Translation of Medicinal Material Procurement Contract
Party A (Purchaser): Yunnan Shangri-La Tibetan Pharmaceutical Group Limited.
Party B (Supplier): Kunming Morningstar Printing Co., Ltd.
| Product’s Name | Specification | Unit | Quantity | Unit Price | Value (RMB) | Procurement Period | Memo | |||||||
| Boxes | s/es | 3,966,659 | 0.07 | 262,471.07 | 09.1.1-12.31 | |||||||||
| Instruction Manual | piece | 16,837,993 | 0.03 | 432,632,72 | 09.1.1-12.31 | |||||||||
| Packing | piece | 169,365 | 0.03 | 4,347.59 | 09.1.1-12.31 | |||||||||
| Cardboard Boxes | s/es | 165,775 | 7.7 | 1,276,241.88 | ||||||||||
| Small Boxes | s/es | 32,240,646 | 0.13 | 4,086,583.16 | 09.1.1-12.31 | |||||||||
| Big Boxes | s/es | 13,116,781 | 0.65 | 8,506,400.95 | 09.1.1-12.31 | |||||||||
| Sealing Labels | s/es | 43,552,765 | 0.01 | 256,455.81 | 09.1.1-12.31 |
The Aggregate Value: RMB 14,825,133.18
The Procurement Place: Yunnan Shangri-La Tibetan Medicine Group Co., Ltd.
Date of Delivery: Delivery within 45 days upon the signature of the Contract
Payment Method: Party A shall make payment of all the accounts payable within 30 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: Dec 4, 2008
Party B: Kunming Morningstar Printing Co., Ltd.
Authorized Representative: Liu Zhixiang (Signature)
Kunming Morningstar Printing Co., Ltd. (Seal)
Signature Date: Dec 4, 2008
