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CONTRACT

Contract

No.:DH2002-GPA254-0202-NO

DATE: May 22, 2007

The Buyers: Evergreen industries group

Address: 69 Jiang Nan Road, Ningbo, Zhejiang, People’s Republic of China

Post Code: 315040

Fax No: 86 0574 8778 7509 Telephone No: 86 0574 8778 7510

The Buyers: Zhejiang Shipbuilding Co., Ltd.

Address: 69Jiang Nan Road, Ningbo, Zhejiang, People’s Republic of China

Post Code: 315040

Fax No: 0086 574 8777 8673 Telephone No: 0086 574 8779 2384

The Sellers: Ing. Per- Gjerdrum A/S

Address: P.O. Box 154 N-1395 Hvalstad, Norway

Fax No: 47 66 77 56 01 Telephone No: 47 66 77 56 00

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 commodity

according to the terms and conditions stipulated below:

1. Name of the goods and its specification, quantity, unit, price and total value:

DESCRIPITION OF

COMMODITY UNIT QTY UNIT PRICE AMOUNT

1. Liquid Mud pump, liquid

mud agitator, liquid mud tank

cleaning machine, liquid mud

jetting pump

shipset

1

USD185,000.00 CIF NINGBO

USD185,000.00

SPECIFICATIONS AND SCOPE OF SUPPLY AS PER ATTACHED TECHNICAL

AGREEMENT SIGNED BETWEEN BUYER AND SELLER ON March 1st ,2006.

TOTAL VALUE: SAY CIF NINGBO BY SEA IN USD ONE HUNDERED EIGHTY FIVE

THAUSAND ONLY

2. Country of Origin and Manufacturer: Norway/ Ing.Per-Gjerdrum A/S

3. Time of Shipment: Before Nov 20st, 2009

4. Place of Shipment: Main European Port

5. Place of Destination: Ningbo Seaport, China

6. Shipping Mark: The sellers shall mark on each packages with fadeless paint the package

number, gross weight, net weight, measurements, shipping mark and the words:

“keep away from moisture”, “Handle with care”, “This side up”, ect. Or

other generally adopted symbols. In the case of dangerous and /or poisonous

cargo (es) and the generally adopted symbols shall be marked conspicuously on

each package. The shipping mark shall be:

Hull No.: DH2002

Contract No.: DH2002-GPA254-0202-No

Zhejiang Shipbuilding Co., Ltd.

7. Packing

To be packed in new sea-worthy strong wooden case(s) or in container or in

cartons as per international packing standard, suitable for long distance Sea/ Air

freight transportation/parcel post and change of climate, well protected against

dampness, moisture, rust, shocks and rough handling, protected for a period of

six months from date of shipment.

The Sellers shall be liable for any damage of the commodity and expenses

occurred on account of improper packing and for any rust attributable to

inadequate or improper protective measures taken by the Sellers in regard to the

packing, in which case they shall rectify the transport damage and in case of

corrosion, reimburse the Buyer for relating expenses incurred up to an amount

the Seller would have incurred the remedial action been taken by himself at his

premises.

It is Buyer’s responsibility to check packing and preservation. In case Buyer

becomes aware of damages of packing and preservation or period of preservation

has been elapsed he shall inform Seller without undue delay; Otherwise Seller is

released from its warranty obligations.

With the engine package, the lifting device should be delivered which shall remain

property of Seller and be returned DDU Seller’s premises in due time after

installation of the engine.

Following documents shall be enclosed in each package:

Detail packing list in 2 copies issued by the Manufacturers/ Seller indicating the

number, content, measurement, net and gross weight of each package.

8. Insurance:

To be covered by the Sellers for 110% of Delivered Goods Value.

9. Payment:

As per the attachment 1 of this contract.

10. Documents:

1) 3 original commercial invoice and 3 copies indicating sold to Evergreen

industries group, indication contract number L/C number and shipping mark mad out in details as per the related contract.

The sellers should supply an additional set of original commercial invoice to

Zhejiang Shipbuilding Co., Ltd.

2) Bill of Lading

2/3 sets of on board ocean bills of lading in original and copies marked

“Freight Prepaid” made out to order, blank endorsed, notifying Consignee,

at place of destination specified in the contract.

3) 3 sets of packing list in original and 3 sets of copies indicating contract

number, name of the commodity, package number, Net/Gross weight,

measurement of packages issued by the sellers/makers.

4) Insurance certificate covered all risks and war risks base on 110% of