Contract No. : CB2009-0054
Date: July 15th, 2009
Sign at: Hongkong
The Buyers: J.B. Lawson & Company Inc.
854 California Street, San Francisco, California, U.S.A. CA94194
The Sellers: Far East Light Industrial Products Imp. & Exp. Corp.
82 Dung Street, Hongkong, P.R.C. 665532
This contract is made by and between the Buyers and the Sellers; whereby the Buyers agree to buy and the Sellers agree to sell the under-mentioned goods subject to the terms and conditions as stipulated below:
Commodity Descriptions: Canvas Folding Chairs with Wooden Frame
(light-cream wood, dark-green canvas)
Quantity: 500,000 pieces
Unit price: $ 35/piece
Total Value: $ 17,500,000(Seventeen Million and Five Hundred Thousand US Dollars only)
Packing: In strong cartons
Country of Origin: P. R. C
Payment: By 100% Confirmed, Irrevocable, Transferable and Divisible Letter of Credit to be available by sight draft and to remain valid for negotiation in P. R. C until the 15th day after the aforesaid time of shipment.
Insurance: To be covered by the buyer.
Time of Shipment: August, 2009 Port of Lading: Shenzhen, P.R.C
Port of Destination: San Francisco, U.S.
The Buyers: Lily Brown
The Sellers: Huang Jun
Claims:
Within 45 days after the arrival of the goods at the destination, should the quality, specifications or quantity be found not in conformity with the stipulations of the contract except those claims for which the insurance company or the owners of the vessel are liable. The Buyers shall, have the right on the strength of the inspection certificate issued by the C. C. I. C and the relative documents to claim for compensation to the Sellers.
Force Majeure:
The sellers shall not be held responsible for the delay in shipment or non-delivery of the goods due to Force Majeure, which might occur during the process of manufacturing or in the course of loading or transit.
Arbitration:
All disputes in connection with the execution of this Contract shall be settled friendly through negotiation. In case no settlement can be reached, the case then may be submitted for arbitration to the Arbitration Commission of the China Council for the Promotion of International Trade.
What does this contract mainly deal with？
A．The purchase of specific products from China
B．The bargain result of the commodity price
C．The shipping method of the goods
D．The description of the commodity
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