2. 1. Commodity and Specification 2.2. Quantity r vear 23. Price The price of the products shall be set on the basis of the prevailing price in the world market at the time when shipment is made. The price shal 2. 4. Ship Shipment shall be made twice a year, in June and in December, each for the value of Port of loading Port of destination Shipping marks: 2.5. Packing: To be packed in 2.6. Payment: Payment shall be effected by confirmed and irrevocable letters of credit in favor of Party A, payable at sight, allowing transshipment. The letter of credit shall reach party A 15 days before the month of shipment and shall be valid for not less than 90 days. The letter of credit shall be in strict accordance with the terms and conditions of the contract. Otherwise party B shall be held responsible for the delay in shipment and Party A may lodge claims against party B for the losses arising therefrom. All the expenses arising from the amendments shall be for Party Bs account 2.7. Insurance: to be covered by Party A for 110% of the invoice value, covering W.P.A.and War 2.8. Inspection: The quality certificate issued by party A shall be regarded as final. If, on arrival of the goods at the port of destination, Party B finds the quality not up to the specification mentioned above, party B shall notify Party a within 45 days after arrival of the goods at the port of destination. Both Parties shall have consultations for a settlement of the matter in dispute. 3. Force Majeure arty A or Party B shall not be held responsible for any failure or delay in delivery o 4. Arbitration: All disputes arising in connection with this contract or in the execution thereof should be settled amicably through negotiations. In case no settlement can be reached, the case in dispute shall then be submitted for arbitration in The decision of the arbitration shall be accepted as final and binding upon both parties 5. Governing Law: the laws of the People's Republic of China shall govern the fomation interpretation and performance of the contract 6. Original Text: The contract is written in English, in two original, one for each party 7. Duration Party A: Party B2.1. Commodity and Specification: 2.2. Quantity: _________________ per year 2.3. Price: The price of the products shall be set on the basis of the prevailing price in the world market at the time when shipment is made. The price shall be on CIF basis. 2.4. Shipment; Shipment shall be made twice a year, in June and in December, each for the value of __________ Port of loading ________________; Port of destination:______________________ Shipping marks: 2.5. Packing: To be packed in _______________ 2.6. Payment: Payment shall be effected by confirmed and irrevocable letters of credit in favor of Party A, payable at sight, allowing transshipment. The letter of credit shall reach party A 15 days before the month of shipment and shall be valid for not less than 90 days. The letter of credit shall be in strict accordance with the terms and conditions of the contract. Otherwise, party B shall be held responsible for the delay in shipment and Party A may lodge claims against party B for the losses arising therefrom. All the expenses arising from the amendments shall be for Party B’s account. 2.7. Insurance: to be covered by Party A for 110% of the invoice value, covering W.P.A. and War Risk. 2.8. Inspection: The quality certificate issued by party A shall be regarded as final. If, on arrival of the goods at the port of destination, Party B finds the quality not up to the specification mentioned above, party B shall notify Party A within 45 days after arrival of the goods at the port of destination. Both Parties shall have consultations for a settlement of the matter in dispute. 3. Force Majeure Party A or Party B shall not be held responsible for any failure or delay in delivery of the entire lot or a portion of the goods under the contract as a result of any force majeure accidents. 4. Arbitration: All disputes arising in connection with this contract or in the execution thereof , should be settled amicably through negotiations. In case no settlement can be reached, the case in dispute shall then be submitted for arbitration in ___________. The decision of the arbitration shall be accepted as final and binding upon both parties. 5. Governing Law: the laws of the People’s Republic of China shall govern the formation, interpretation and performance of the contract. 6. Original Text: The contract is written in English, in two original, one for each party. 7. Duration: Party A: Party B: Signatures