Contract ITF asia

contract
No. CTR01-07/ITF
Date: July ..., 2006
This contract is signed between : International investment
-trading and finance jsc
Address: R504, 17T5 Building Trung Hoa Nhan Chinh, Thanh Xuan
Dist., Hanoi, Vietnam
Tel: 84.4.2512412 Fax: 84.4.2511340
Account No:
Represented by: Mr .Nguyen Hoa Binh – Director.
Hereinafter called as The Seller.
And:
Address:
Tel: Fax:
Represented by:
Hereinafter called as The Buyer.
The Seller agrees to sell and the Buyer agrees to buy the goods on the
following terms and conditions:
ARTICLE 1 COMMODITY–
Power rattan under processing without parasite, not darkest: oil – boiled,
cleaned and removed the skin, even at one end, treated with chemical and
packed.
ARTICLE 2 specifications–
- Diameter: 16mm to 40mm.
- Length: 4.5m and over.
Article 3- quantity and price
Commodity Quality Quantity Unit price Amount
Power rattan with diameter
26mm to 27 mm
Grade
B/C

MT USD/MT
Power rattan with diameter Grade MT USD/MT
1
28mm to 29 mm B/C
Power rattan with diameter
30mm to 32 mm
Grade
B/C
MT USD/MT
Total
All these above- mentioned prices are understood to be FOB Danang Port-
Vietnam (INCOTERMS 2000).
10 percent more or less of quantity is acceptable.
Article 4- packing
These good will be packed in bale of 50kg each, then the goods will be stuffed
in container 20’.
Article 5- delivery
- Time of delivery: the time of delivery of each shipment will be
confirmed later.
- Partial shipment: allowed.
- Transshipment: allowed.
Article 6- payment
Two parties have agreed that referred to be the quantity through practical
checked by The Buyer at The Seller's store, the payment can be made by The
Buyer as follow:
6.1 The total amount of goods will be paid by an Irrevocable 100% L/C
at sight against the following required documents at the counter of
Seller's Bank:
− Full set 3/3 originals of "Clean on Board" Bill of Lading
made out to the order of "L/C opening bank" and notify

"Applicant".
− Signed commercial invoice issued in 03 originals and 03
copies showing commodity, weight, unit price, total
amount, L/C number, contract number and invoice
number.
− Packing list with indication of total gross weight and total
net weight and number of bales shipped, number of B/L: in
01 Originals and 03 copies.
6.2 All Banking charges and any customs duties, taxes, fees and other
costs arise outside Vietnam are for the Buyer's account. All Banking
charges and any customs duties, taxes, fees and other costs arise inside
Vietnam are for the Seller's account.
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Article 7- inspection
The Buyer's representative Mr. Goh Ah Tee (nationality of Singapore and
passport No. S0436252G) will have the right to inspect the goods at the
Seller’s warehouse before loading by checking the goods to confirm the
quantity of each grade. This confirmation will be final and is a legal basic for
the payment.
Article 8- force majeure
- Neither party can claim for compensation for delays or non- execution
obligation under the contract either fully in part due to Force Majeure.
- Force Majeure shall be defined, though not exclusively, to include Acts
of God, Acts of War, civil disturbance, strikes.
- The party claiming Force Majeure shall inform the other party by Fax
within 15 days from the Force Majeure followed by necessary evidence
that obligations under the contract are affected, prevented or delayed.
Article 9- arbitration
All disputes arising out of or in relation to this contract, which is not reach an
amicable agreement between both parties, shall be finally settled by the

VietNam International Arbitration Centre (VIAC) at the VietNam Chamber of
Commerce and Industry (VCCI) in HaNoi in accordance with its arbitration
rules and procedures, whose award shall be final and binding by both parties.
Arbitration fee and all of fees and charges relating to arbitration shall be born
by the losing party.
Article 10- general conditions
- All amendments and additional annexes (if any) to the contract shall be
only legal and valid in writing form with the signatures of both parties.
- This contract is made at Hanoi in English in 4 copies, 2 of which for
each party.
FOR THE SELLER FOR THE BUYER

MR. NGUYEN HOA BINH - DIRECTOR
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