6、PAYMENT: THE BUYER SHALL OPEN 100

6、PAYMENT: THE BUYER SHALL OPEN 100% IRREVOCABLE LETTER OF CREDIT AT SIGHT

THROUGH THE FIRST RANK BANK AND/OR AGREED BY SELLER IN FAVOR OF THE

SELLER ON OR BEFORE 2014-06-13.

SELLER'S BANK DETAILS:

ADVISING BANK: INDUSTRIAL AND COMMERCIAL BANK OF CHINA, ZHEJIANG BRANCH

SWIFT CODE: ICBKCNBJZJP

NOTE: L/C AVAILABLE WITH ANY BANK BY NEGOTIATION AND PLACE OF EXPIRY IS

NEGOTIATION BANK'S COUNTER OR CHINA.

7、DOCUMENTS：

A）FULL SET (3/3) OF CLEAN ON BOARD BILLS OF LADING MADE OUT TO ORDER OF

ISSUING BANK, MARKED FREIGHT PREPAID, NOTIFY APPLICANT.

B）COMMERCIAL INVOICE IN 3 ORIGINALS ISSUED BY BENEFICIARY.

C）PACKING LIST IN 3 ORIGINALS.

D) BENEFICIARY CERTIFICATE CERTIFYING THE FOLLOWING DOCUMENTS HAVE BEEN

COURIERED TO THE APPLICANT WITHIN 10 WORKING DAYS AFTER B/L DATE: 1

ORIGINAL MILL TEST CERTIFICATE ISSUED BY THE MANUFACTURER, 1 ORIGINAL AND

1 COPY CERTIFICATE OF ORIGIN FORM E.

8、DOCUMENTS ALLOW:

A. THIRD PARTY DOCUMENTS IS ACCEPTABLE.

B. PARTIAL SHIPMENT ALLOWED AND TRANSSHIPMENT NOT ALLOWED.

C. CHARTER PARTY BILL OF LADING IS ACCEPTABLE.

D) TO BE ALLOWED TOLERANCES OF +/-10% PERCENT ON QUANTITY AND AMOUNT FOR

PER SIZE AND IN TOTAL.

E）L/C DOCUMENTS TO BE PRESENTED FOR NEGOTIATION WITHIN 21 DAYS AFTER

SHIPMENT, AVAILABLE WITH ANY BANK BY NEGOTIATION.

F) ANY MINOR DISCREPANCIES WHICH WILL NOT AFFECT QUALITY, QUANTITY, PRICE

AND VALUE, SHIPMENT TIME SHALL NOT BE CONSIDERED AS DISCREPANCIES.

9、ADVICE OF SHIPMENT: SELLER SHALL ADVISE BUYER WITHIN 05 WORKING DAYS

BY FAX OF THE CONTRACT NUMBER, NAME OF COMMODITY, GROSS WEIGHT, NET

WEIGHT, BL NO, BL DATE, VESSEL, ETA.

10、INSURANCE：TO BE COVERED BY THE BUYER, VESSEL AGE 25 YEARS MAX

ACCEPTABLE.

11、INSPECTION AND CLAIM: THE BUYER SHALL HAVE THE RIGHT TO APPLY SGS AT

DISCHARGING PORT FOR INSPECTION AFTER THE GOODS DISCHARGED AT THE

PORT OF DESTINATION. SHOULD THE QUALITY AND/OR QUANTITY/WEIGHT BE FOUND

NOT IN CONFORMITY WITH THE CONTRACT, THE BUYER SHALL BE ENTITLED TO

LODGE CLAIMS AGAINST THE SELLER ON THE BASIS OF SURVEY REPORT OF SGS,

EXCEPT FOR CLAIMS FOR WHICH THE SHIPPING COMPANY AND/OR THE INSURANCE

COMPANY ARE TO BE HELD RESPONSIBLE. CLAIMS FOR QUALITY AND/OR QUANTITY/

WEIGHT DISCREPANCY SHOULD BE LODGED BY THE BUYER WITHIN 30 DAYS AFTER

ARRIVAL OF THE GOODS AT THE PORT OF DESTINATION WITH THE SURVEY REPORT

OF SGS , OTHERWISE, THE BUYER WILL BE DEEMED TO GIVE UP THE CLAIM FOR

ANY COMPENSATION AGAINST THE SELLER, WHILE THE QUALITY AND/OR QUANTITY/

WEIGHT OF THE GOODS WILL BE DEEMED QUALIFIED IN CONFORMITY WITH THIS

Page 2 of 4

CONTRACT GJ14-220

CONTRACT. THE SELLER SHOULD REPLY THE CLAIM WITHIN 30 WORKING DAYS AFTER

RECEIPT OF THE VALID CLAIM DOCUMENTS AND BEFORE THE CLAIMS HAVE BEEN

SETTLED, THE BUYER IS BOUND TO TAKE REASONABLE STEPS TO PRESERVE THE

GOODS WITHOUT CHANGING THE ORIGINAL APPARENT ORDER AND CONDITIONS,

OTHERWISE, THE BUYER'S CLAIM WOULD NEVER BE CONSIDERED. THE MAX CLAIM

AMOUNT SHOULD NOT BE OVER THE INVOICE VALUE, IF ANY. AT THE PORT OF

DESTINATION, +/-0.3 PCT FRANCHISE BASED ON BILLS OF LADING WEIGHT ARE

ACCEPTABLE. ALL EXPENSES ARISED AT DISCHARGE PORT SHOULD BE BORNE BY

THE BUYER’S ACCOUNT. THE CLAIM DOES NOT MEAN THAT THE BUYER IS ENTITLED

TO NON-PAYMENT FOR THE GOODS DELIVERED BY THE SELLER OR THE GOODS

AGREED FOR DELIVERY ACCORDING TO THE TERMS OF THIS CONTRACT.

IF THE MILL IS NOMINATED AND RESTRICTED BY THE BUYER, THEN THE SELLER WILL

BE NOT RESPONSIBLE FOR THE QUALITY CLAIM.

12、FORCE MAJEURE: IN CASE OF FORCE MAJEURE THE SELLER SHALL NOT BE HELD

RESPONSIBLE FOR DELAY IN DELIVERY OR NON-DELIVERY OF THE GOODS BUT SHALL

NOTIFY THE BUYER BY TELEX OF FAX IMMEDIATELY. THE SELLER SHALL DELIVER TO

THE BUYER BY REGISTERED MAIL, IF SO REQUESTED BY THE BUYER, A CERTIFICATE

ISSUED BY THE CHINA COUNCIL FOR THE PROMOTION OF INTERNATIONAL TRADE OR

COMPETENT AUTHORITIES CONCERNED.

THE FORCE MAJEURE (EXEMPTION) CLAUSE OF THE INTERNATIONAL CHAMBER

OF COMMERCE (ICC PUBLICATION NO. 421) IS HEREBY INCORPORATED IN THIS

CONTRACT.

FORCE MAJEURE SHALL FOR THIS PURPOSE MEAN ANY CIRCUMSTANCES BEYOND

THE CONTROL A PARTY INCLUDING BUT NOT LIMITED TO ACTS OF GODS OR THE

PUBLIC ENEMY, WAR, REBELLION, CIVIL DISTURBANCE, FIRE, ACCIDENT, SEVERE

WEATHER CONDITIONS, SUPPLY SHORTAGES, UNAVAILABILITY OR INTERRUPTIONS

OF TRANSPORT TO THE DELIVERY POINT, EQUIPMENT FAULT, POWER FAILURES,

COMPLIANCE WITH ANY ORDER, ACT OR ANY REGULATION OF ANY GOVERNMENT

OR GOVERNMENT AGENCY OR LOCAL AUTHORITY, NATIONAL OR OFFICIAL STRIKE,

LOCKOUTS OR OTHER TRADE DISPUTES WHICH PREVENT THE PERFORMANCE OF

THE CONTRACT, AND ANY OBLIGATIONS THEREUNDER, WHILE THE EXISTENCE OF

FORCE MAJEURE CONTINUES.

13、ARBITRATION：ALL DISPUTES IN CONNECTION WITH THIS CONTRACT OR THE

EXECUTION THEREOF SHALL BE SETTLED BY FRIENDLY NEGOTIATION BETWEEN TWO

PARTIES. IF NO SETTLEMENT CAN BE REACHED, THE CASE IN DISPUTE SHALL THEN

BE SUBMITTED FOR ARBITRATION TO THE CHINA INTERNATIONAL ECONOMIC AND

TRADE ARBITRATION COMMISSION IN BEIJING IN ACCORDANCE WITH CHINESE LAW

AND ITS ARBITRATION REGULATION. THE ARBITRATION AWARD IS FINAL AND BINDING

UPON PARTIES. THE FEES FOR THE ARBITRATION SHALL BE BORNE BY THE LOSING

PARTY.

14、VALIDITY OF THE CONTRACT: THIS CONTRACT OR ANY COMPLEMENT OR

AMENDMENT OR RESCISSION OF IT, SHOULD BE EFFECTIVE SINCE BEING SIGNED

(ON EACH PAGE) AND SEALED BY BOTH PARTIES. THE CONTRACT IS GOVERNED

BY CHINESE LAW. IN CASE OF ANY DISCREPANCIES BETWEEN THE SCANNED COPY

ATTACHED TO THE E-MAIL PROVIDED ABOVE AND THE ORIGINAL, THE ORIGINAL

SHALL PREVAIL.

THIS CONTRACT SHALL BE PRINTED, AND ANY CHANGE OF TERMS OR CONDITIONS BY

HANDWRITING ON THIS CONTRACT SHOULD BE DEEMED AS EFFECTIVE ONLY AFTER

BEING SIGNED AND SEALED BY BOTH PARTIES ON THE PLACE OF CHANGE.