the contract, made out, in chinese a nd english, both version being equally authentic, by a nd between the seller a nd the buyer whereby the seller agrees to sell a nd the buyer agrees to buy the undermentioned goods subject to terms a nd conditions set forth hereinafter as follows:
1 name of commodity a nd specification
2 country of origin & manufacturer
3 unit price (packing charges included)
5 total value
6 packing (seaworthy)
7 insurance (to be covered by the buyer unless otherwise)
8 time of shipment
9 port of loading
10 port of destination
mark shown as below in addition to the port of destination, package number, gross a nd net weights, measurements a nd other marks as the buyer may require stencilled o r marked conspicuously with fast a nd unfailing pigments on each package. in the case of dangerous and/or poisonous cargo(es), the seller is obliged to take care to ensure that the nature a nd the generally adopted symbol shall be marked conspicuously on each package..
12 terms of payment:
one month prior to the time of shipment the buyer shall open with thebank of _______an irrevocable letter of credit in favour of the seller payable at the issuing bank against presentation of documents as stipulated under clause 18. a. of section ii, the terms of delivery of this contract after departure of the carrying vessel. the said letter of credit shall remain in force till the 15th day after shipment.
13 other terms:
unless otherwise agreed a nd accepted by the buyer, all other matters related to this contract shall be governed by section ii, the terms of delivery which shall form an integral part of this contract. any supplementary terms a nd conditions that may be attached to this contract shall automatically prevail over the terms a nd conditions of this contract if such supplementary terms a nd conditions come in conflict with terms a nd conditions herein a nd shall be binding upon both parties.
for the seller for the buyer
14 fob/fas terms
14.1 the shipping space for the contracted goods shall be booked by the buyer o r the buyer's shipping agent __________.
14.2 under fob terms, the seller shall undertake to load the contracted goods on board the vessel nominated by the buyer on any date notified by the buyer, within the time of shipment as stipulated in clause 8 of this contract.
14.3 under fas terms, the seller shall undertake to deliver the contracted goods under the tackle of the vessel nominated by the buyer on any date notified by the buyer, within the time of shipment as stipulated in clause 8 of this contract.
14.4 10-15 days prior to the date of shipment, the buyer shall inform the seller by cable o r telex of the contract number, name of vessel, eta of vessel, quantity to be loaded a nd the name of shipping agent, so as to enable the seller to contact the shipping agent direct a nd arrange the shipment of the goods. the seller shall advise by cable o r telex in time the buyer of the result thereof. should, for certain reasons, it become necessary for the buyer to replace the named vessel with another one, o r should the named vessel arrive at the port of shipment earlier o r later than the date of arrival as previously notified to the seller, the buyer o r its shipping agent shall advise the seller to this effect in due time. the seller shall also keep in close contact with the agent o r the buyer.
14.5 should the seller fail to load the goods on board o r to deliver the goods under the tackle of the vessel booked by the buyer. within the time as notified by the buyer, after its arrival at the port of shipment the seller shall be fully liable to the buyer a nd responsible for all losses a nd expenses such as dead freight, demurrage. consequential losses incurred upon and/or suffered by the buyer.
14.6 should the vessel be withdrawn o r replaced o r delayed eventually o r the cargo be shut out etc., a nd the seller be not informed in good time to stop delivery of the cargo, the calculation of the loss in storage expenses a nd insurance premium thus sustained at the loading port shall be based on the loading date notified by the agent to the seller (or based on the date of the arrival of the cargo at the loading port in case the cargo should arrive there later than the notified loading date). the abovementioned loss to be calculated from the 16th day after expiry of the free storage time at the port should be borne by the buyer with the exception of force majeure. however, the seller shall still undertake to load the cargo immediately upon the carrying vessel's arrival at the loading port at its own risk a nd expenses. the payment of the afore-said expenses shall be effected against presentation of the original vouchers after the buyer's verification.
15 c&f terms
15.1 the seller shall ship the goods within the time as stipulated in clause 8 of this contract by a direct vessel sailing from the port of loading to china port. transhipment on route is not allowed without the buyer's prior consent. the goods shall not be carried by vessels flying flags of countries not acceptable to the port authorities of china.