Medicinal Material Procurement Contract between Yunnan Shangri-La Tibetan Pharmaceutical Group Limited and Xiong Ba
Yunnan Shangri-La Tibetan Pharmaceutical Group Limited (the purchaser) and Xiong Ba (the supplier) have entered into an agreement for the supply of various medicinal materials totaling RMB 5,172,073.63. 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. The materials must meet state and agreed quality standards, and packaging must be undamaged. If either party breaches the contract, they must compensate the other party 30% of the contract's total value.
Exhibit 10.12
Translation of Medicinal Material Procurement Contract
Party A (Purchaser): Yunnan Shangri-La Tibetan Pharmaceutical Group Limited
Party B (Supplier): Xiong Ba
| Product’s Name | Spec | Unit | Quantity | Unit Price | Value (RMB) | Procurement Period | Memo | |||||||
| Semen Punicae Granati | kg | 32195 | 50.84 | 1,636,824.71 | 09.1.1-12.31 | |||||||||
| Fructus Malvae | kg | 4476 | 162.92 | 729,325.16 | 09.1.1-12.31 | |||||||||
| Asparagus cochinchinensis | kg | 5088 | 27.2 | 138,378.66 | 09.1.1-12.31 | |||||||||
| Tibetan Lengzi Qin | kg | 8398 | 37.15 | 311,997.61 | 09.1.1-12.31 | |||||||||
| Himalayas Four o’clock | kg | 21195 | 37.26 | 789,737.00 | 09.1.1-12.31 | |||||||||
| Puncturevine Caltrop Fruit | kg | 15534 | 42.03 | 652,828.28 | 09.1.1-12.31 | |||||||||
| Common Dysosma Rhizome | kg | 6347 | 143.84 | 912,982.22 | 09.1.1-12.31 |
The Aggregate Value: RMB 5,172,073.63
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 6, 2009
Party B: Xiong Ba
Authorized Representative: Xiong Ba (Signature):
Signature Date: Jan 6, 2009
