HỢP ĐỒNG MUA MÁY KHOAN NGẦM HDD

GENERAL TERMS AND CONDITIONS FOR CONTRACT

1. DEFINITIONS:

- Purchaser shall mean MINH PHUONG CONSTRUCTION DESIGN AND CONSULTING INVESTMENT CORPORATION named in the contract.

- Supplier shall mean any firm, entities the contract is issued to.

- Goods shall mean the goods, commodities to be purchased as stipulated in the contract.

- Contract shall mean an order issued by Purchaser for ordering or purchasing of goods. Unless otherwise agreed in writing, Purchase Order shall take effective from date on its face.

- The trade terms herein used, such as EXW, FOB, CFR and CIF shall be construed or interpreted in accordance with Incoterms 2010, ICC unless otherwise agreed.

2. NOTICE OF DELIVERY AND DOCUMENTS:

2.1. The delivery time of the Goods in the contract shall be of the essence. As soon as possible but not later than 03 working days upon the delivery ate, the supplier shall send by email to the Purchaser a copy of the following documents in English language regarding delivery details:

+    Bill of Lading

+    Commercial Invoice

+    Packing List

At the same time, the Supplier shall also advise the Purchaser of the ETD, ETA of the carrying vessel and other necessary information to enable the Purchaser to carry out customs procedures for import of the shipped Commodity.

2.2 As soon as possible but not later than 07 working days upon the delivery date, the Supplier shall send the following documents in English language to MINH PHUONG CONSTRUCTION DESIGN AND CONSULTING INVESTMENT CORPORATION     address:   28 B MAI THI LUU, WARD DA KAO, DISTRICT 1, HO CHI MINH CITY Vietnam by Express Courier at the Supplier's expenses:

- 1 copy not negotiable of Clean on Board Bill of Lading made out to order of the Purchaser’s unless otherwise expressly instructed by the Purchaser, marked “Freight Prepaid”, evidencing shipment from any port in China (Port of Shipment) to Ho Chi Minh Port (Port of Discharge), indicating the name of commodity.

- Duly signed commercial invoice with itemized and total prices issued by the Supplier;

- Packing list showing the gross and net weight;

- 1 copy of Insurance Policy/Certificate covering All Risk Clause, indicating 110% coverage of the total value CIF-Ho Chi Minh Port of the delivered Commodity issued by the international reputable insurance company;

- 1 copy of Certificate of Origin issued by the manufacturer’s country;

3. PAYMENT:

Payment shall be made in USD Currency.

- 10% TT for deposit in advance, 90% (Ninety percent) of Contract’s value USD224250 shall be made with Irrevocable L/C.

- Company Name：

JIANGSU GOODENG HEAVY MACHINERY EQUIPMENT TECHNOLOGY CO.,LTD

Address: North of Weisan Road, Dafeng Development Zone, Yancheng, Jiangsu, China.

Bank Name: BANK OF CHINA DAFENG SUB-BRANCH

Bank Account No: 532673908515

Bank Address:134 SOUTH RENMING ROAD DAFENG JIANGSU CHINA 224100

Bank Swift Code: BKCHCNBJ940

- Within 7-10 days from the date of Purchaser’s receipt of confirm contract, the Purchaser shall open through the VietinBank (Vietnam), an Irrevocable Letter of Credit in compliance with the terms and conditions set forth in this Purchase Order, in favor of the Supplier, covering value (USD201825) of order.

- The validity of the Letter of Credit shall cover the delivery date of order plus forty five (45) days.

- The payment 90% (ninety percent) of value contract shall be made within 5 days after date of Bill of Lading and against presentation of the following documents by Supplier to the Purchaser’s Bank (VietinBank (Vietnam), located at ---                       ) in two original and one copy of each (unless otherwise stated below in this clause):

- 2/3 set of Clean on Board Bill of Lading made out to order of the Purchaser’s ViettinBank (Vietnam) unless otherwise expressly instructed by the Purchaser, marked “Freight Prepaid”, evidencing shipment from any port in China port of Shipment) to Ho Chi Minh Port, indicating the name of Commodity, Contract number and date;

- Duly signed commercial invoice with itemized and total prices issued by the Seller in 01 original and 02 copies

- Packing list showing the content of dimension, gross and net weight in 01 original and 02 copies

- Full set of original of insurance policy or certificate in assignable form, blank endorsed for 110 pct of total invoice value covering all risks, showing claim payable in Ho Chi Minh, Vietnam in Invoice Currency, Total Number of Originals to be issued and full name, address and Tel No and Fax No of Insurance Agent in Vietnam must be shown.

- Certificate of Origin

- Supplier's/Manufacturer’s Letter of Warranty or Certificate of Warranty for normal operation of the Commodity, covering 12 months from the date of Bill of Lading;

- The Letter of Credit shall be subject to the ICC Uniform Customs and Practice for Documentary Credits (UCP-DC 600) – unless otherwise expressly stated herein.

- All the banking fees, including bank commission, levied outside S.R VIETNAM shall be at the Supplier’s account.

- All charges in connection with the amendments, extension of the Letter of Credit (whether occurred inside or outside S.R.VIETNAM), due to Seller's request (subject to the approval of the Buyer), shall be at the Seller's account.

4. LATE DELIVERY AND LIQUIDATED DAMAGES

-      In case the Supplier fails to deliver/release the Goods by the loading date required, the Supplier shall pay the Purchaser a liquidated damage equal to zero point five percent (0.5%) of the Contract Price per each calendar day commencing from required delivery date up to actual day the Goods delivered/ released; provided however, that the total accumulated liquidated damage amount shall not in any way exceed ten percent (10%) of each overdue shipment of the “Goods”. Such amount is an approximation of loss and damage incurred by the Purchaser due to the late delivery by the Supplier, and does not construe as a penalty under any circumstances

6. TAXES:

Taxes and duties arising in Vietnam are to Buyer’s account and arising outside Vietnam are to the Seller’s account.

7. FORCE MAJEURE:

The Supplier shall not be held liable for failure or delay in delivery of the entire lot or a portion of the goods under this contract in consequence of any Force Majeure incidents.

8. This contract is made out in two original copies, one copy to be held by each party in witness thereof. The fax copy has same legal effect.