HONGKONG GRAND INTERNATIONAL CO., L

HONGKONG GRAND INTERNATIONAL CO., LTD.
ADD: SUITE 1505-6, ALBION PLAZA, 2-6 GRANVILLE ROAD, TSIM SHA TSUI, KOWLOON, HONGKONG
TEL: [phone] FAX: [phone]
SALES CONTRACT NO.D11GDF009
DATE ：2015-9-17
PLACE : SHANGHAI, CHINA
THE SELLER: HONGKONG GRAND INTERNATIONAL CO., LTD.
ADDRESS: SUITE 1505-6, ALBION PLAZA, 2-6 GRANVILLE ROAD, TSIM SHA TSUI, KOWLOON, HONGKONG

THE BUYER: HOANG VIET STEEL CO., LTD
ADDRESS : CHAU KHE INDUSTRIAL PARK, CHAU KHE WARD, TU SON PROVINCE, BAC NINH

THE CONTRACT IS MADE BETWEEN THE BUYER AND THE SELLER WHEREBY THE BUYER AGREES TO BUY AND THE SELLER AGREES TO SELL THE UNDERMENTIONED GOODS SUBJECT TO THE TERMS AND CONDITIONS STIPULATED HEREAFTER:

COMMODITY : PRIME HOT ROLLED ALLOY STEEL WIRE ROD

QUALITY : ASTM A510M SAE1008CR ( CHROM : 0.3PCT MIN )

TOTAL QUANTITY : 1000MT (+/-10% IN TOTAL AT SELLER’S OPTION)

SIZE QUANTITY (MT) UNIT PRICE(USD) AMOUNT(USD)
6.5mm 1000 299 299,000.00
TOTAL 1000 299,000.00

TOTAL AMOUNT : USD 299,000.00 (+/-10%).
PRICE TERMS : CFR FO CQD HAIPHONG PORT, VIETNAM AS PER INCOTERMS 2010;

COIL WEIGHT : 2.6 MT MAX

SHIPPING MARK : EACH COIL WITH ONE MILL’S TAG PLUS ONE EXTRA TAG SHOWING HOANG VIET AND COLOR MARKING

ORIGIN : PEOPLE’S REPUBLIC OF CHINA

MANUFACTURER : MINMETAL YINGKOU MEDIUM PLATE CO., LTD

PACKING : MILL’ S STANDARD EXPORTING PACKING

INVOICING : BY ACTUAL NET WEIGHT BASIS

DATE OF SHIPMENT : ON OR BEFORE 15TH NOV., 2015

PARTIAL SHIPMENT : ALLOWED.

TRANSHIPMENT : NOT ALLOWED.

LOADING PORT : ANY PORT IN CHINA.

DISCHARGE PORT : HAIPHONG PORT, VIETNAM

PAYMENT TERMS : THE BUYER SHALL OPEN, WITH A BANK TO BE ACCEPTED BY BOTH THE BUYER AND THE SELLER, AN IRREVOCABLE AND NON-TRANSFERABLE LETTER OF CREDIT PAYABLE AT SIGHT FOR 100% OF CONTRACT VALUE IN US DOLLARS, TO BE OPENED IN FAVOUR OF HONGKONG GRAND INTERNATIONAL CO., LTD. ON OR BEFORE SEP.24RD , 2015.

THE L/C CONTENT SHOULD BE STRICTLY IN CONFORMITY WITH THE STIPULATION OF THIS CONTRACT. IN CASE OF THE L/C CONTENT NOT STRICTLY IN CONFORMITY WITH THE STIPULATION OF THE CONTRACT THE L/C SHOULD BE AMENDED WITHIN 2 WORKING DAYS AFTER THE SELLER INFORMS THE BUYER, THE CHARGE FOR AMENDMENT SHOULD BE FOR REQUEST’S ACCOUNT, IF THE BUYER CAN NOT AMEND THE L/C WITHIN THAT PERIOD, THE SELLER HAS THE RIGHT TO CANCEL THE CONTRACT.









LETTER OF CREDIT TO ALLOW:
1) L/C TO BE OPENED BY FULL SWIFT/CABLE;
2) LATEST SHIPMENT BY 15TH NOV., 2015;
3) EXPIRY FOR NEGOTIATION LATEST 9TH DEC., 2015;
4) 24 DAYS FOR NEGOTIATION; EXPIRY PLACE: NEGO BANK’S COUNTER;
5) +/-10 PERCENT TOLERANCE ON TOTAL QUANTITY AND AMOUNT ACCEPTABLE;QUANTITY AND AMOUNT FOR EACH SIZE EXCEEDING +/-10 PERCENT TORLERANCE BUT TOTAL QUANTITY AND AMOUNT NOT EXCEEDING IS ACCEPTABLE;
6) THIRD PARTY DOCUMENTS ACCEPTABLE EXCEPT INVOICE AND DRAFT;
7) CHARTER PARTY BILL OF LADING TO BE ACCEPTABLE;
8) LC TO BE AVAILABLE WITH ANY BANK BY NEGOTIATION;
9) ALL APPARENT SPELLING MISTAKES/TYPING ERRORS/MISTAKES IN LC DOCUMENTS, WHICH DO NOT ALTER MEANING/SPECIFICATION/DESCRIPTION /QUANTITY/VALUE OF GOODS ARE ACCEPTABLE AND WILL NOT COUNT AS A DISCREPANCY.
10) BILL OF LADING INDICATING THE FOLLOWING NOTATIONS AND/OR SIMILAR WORDING ARE ACCEPTABLE: 'ATMOSPHERIC RUST'/'CARGO UNPROTECTED' /'LOADED FROM OPEN STORAGE'/'PARTLY RUST STAINED'/'WET BEFORE SHIPMENT'/ 'WEIGHT AS PER SHIPPER'S SCALE'. RUSTY EDGES/OIL STAINED/RUST STAINED/SOME RUSTY EDGES” AND/OR “UNPROTECTED CARGO” AND/OR “SAID TO BE’ AND/OR “STORED IN OPEN AREA PRIOR TO LOADING”.
11) ALL BANK CHARGES OUTSIDE BENFICIARY’S BANK ARE FOR BUYER’S ACCOUNT. AMENDMENT CHARGES FOR L/C, IF ANY ARE FOR ACCOUNT OF THE PARTY WHO REQUESTS, UNLESS L/C IS NOT OPENED IN ACCORDANCE WITH TERMS AND CONDITIONS OF THIS CONTRACT. IN SUCH CASES, L/C AMENDMENT CHARGES ARE FOR THE BUYER’S ACCOUNT.

INSURANCE : TO BE COVERED BY THE BUYER AND FOR BUYER’S ACCOUNT.

DOCUMENTS TO BE PRESENTED UNDER L/C:
THE FOLLOWING DOCUMENTS TO BE PRESENTED WITHIN 24 DAYS AFTER B/L DATE BUT WITHIN VALIDITY OF L/C ARE ACCEPTABLE.
1) 3/3 ORIGINAL COMMERCIAL INVOICE FOR CARGO VALUE;
2) 3/3 ORIGINAL SELLER’S PACKING LIST SHOWING NUMBER OF COILS, GROSS WEIGHT AND NET WEIGHT AND COLOR MARKING.
3) 3/3 ORIGINAL SHIPPED ON BOARD OCEAN BILLS OF LADING MADE OUT TO ORDER AND BLANK ENDORSED NOTIFYING THE APPLICANT. MARKED “FREIGHT PREPAID”; SHOWING NUMBER OF COILS, GROSS WEIGHT, NET WEIGHT, COLOR MARK OR SHIPPING MARK.
4) BENEFICIARY’S CERTIFICATE STATING THAT ONE SET OF NON - NEGOTIABLE DOCUMENTS, ONE ORIGINAL MILL’S TEST CERTIFICATE ISSUED BY THE MILL AND CERTIFICATE OF ORIGIN FORM E ISSUED BY CIQ HAVE BEEN SENT TO APPLICANT WITHIN 07 WORKING DAYS AFTER SHIPMENT DATE
5) BENEFICIARY’S CERTIFICATE STATING THAT SHIPMENT ADVICE INDICATING FULL SHIPPING PARTICULARS INCLUDING NAME OF COMMODITY AND ITS EXACT QUANTITY LOADED, WEIGHT, VALUE, PORT OF LOADING, ETD/ETA, B/L NUMBER AND ITS DATE HAS BEEN FAXED TO THE APPLICANT WITHIN 07 WORKING DAYS AFTER SHIPMENT DATE.

DOCUMENTS TO BE PRESENTED OUTSIDE L/C:
1) ORIGINAL CERTIFICATE OF ORIGIN FORM E ISSUED BY CIQ;
2) MILL’S TEST CERTIFICATE

QUALITY/QUANTITY
CLAIM : CLAIMS IF ANY SHOULD BE LODGED BY BUYER WITHIN 30 DAYS FROM THE COMPLETION OF DISCHARGE FOR SHORTWEIGHT AND 20 DAYS FOR VISIBLE DEFECTS AND 30 DAYS FOR HIDDEN DEFECTS. SUCH CLAIMS MUST BE SUPPORTED BY BOTH PARTY AGREED INDEPENDENT INSPECTOR’S REPORT. IN CASE OF SHORTWEIGHT CLAIM, MUST BE SUPPORTED BY TRUCK WEIGHT BRIDGE RECEIPTS AT PORT OF DISCHARGE. FRANCHISE ON QUANTITY TO BE +/-0.5% INSPECTOR’S REPORT AT DISCHARGING PORT IS FINAL FOR BOTH QUANTITY AND QUALITY.

SELLERS/BUYERS
OBLIGATION : IN CASE L/C CAN NOT BE OPENED WITHIN THE PERIOD STIPULATED ABOVE, THE SELLER SHALL HAS THE OPTION TO CANCEL THE CONTRACT AND THE BUYER HAS TO PAY NON-PAYMENT PENALTY OF 2% CONTRACT VALUE TO THE SELLER’S ACCOUNT WITHIN 5 WORKING DAYS AFTER RECEIVING THE CLAIM LETTER FROM THE SELLER;
IN CASE SHIPMENT CAN NOT BE EFFECTED WITHIN THE LATEST DATE DUE TO THE SELLER’S DEFECT, THE BUYER SHALL HAS THE OPTION TO CANCEL THE CONTRACT AND THE SELLER HAS TO PAY NON-SHIPMENT PENALTY OF 2% CONTRACT VALUE TO THE BUYER’S ACCOUNT WITHIN 5 WORKING DAYS AFTER RECEIVING THE CLAIM LETTER FROM THE BUYER;

FORCE MAJEURE : NEITHER SELLER NOR BUYER SHALL BE LIABLE FOR ANY DELAY OR FAILURE OF PERFORMANCE UNDER THIS CONTRACT WHERE SUCH FAILURE OR DELAY IS CAUSED BY FORCE MAJEURE BEING ANY EVENT, OCCURRENCE OR CIRCUMSTANCES REASONABLY BEYOND THE CONTROL OF EITHER PARTY, INCLUDING BUT NOT LIMITED TO: FAILURE OR DELAY CAUSED BY OR RESULTING FROM ACTS OF GOD, STRIKES, FIRES, FLOODS, WARS (WHETHER DECLARED OR UNDECLARED), RIOTS, DELAYS OF CARRIERS DUE TO BREAKDOWN OR ADVERSE WEATHER, PERILS OF THE SEA, EMBARGOES, ACCIDENTS RESTRICTIONS IMPOSED BY ANY GOVERNMENTAL AUTHORITY (INCLUDING ALLOCATION, PRIORITIES, REQUISITIONS, QUOTAS AND PRICE CONTROLS).
THE TIME OF SELLER TO MAKE OR BUYER TO RECEIVE THEREUNDER SHALL BE EXTENDED DURING ANY PERIOD IN WHICH DELIVERY SHALL BE DELAYED BY REASON OF ANY OF THE FOREGOING CAUSES UP TO TOTAL 30 DAYS. IF ANY DELIVERY HEREUNDER SHALL BE SO DELAYED OR PREVENTED FOR MORE THAN 30 DAYS, EITHER PARTY MAY TERMINATE THIS CONTRACT WITH RESPECT TO SUCH DELIVERY UPON WRITTEN NOTICE TO THE OTHER PARTY. SUCH WRITTEN NOTICE OF TERMINATION SHALL NOT APPLY TO MATERIAL FOR WHICH FREIGHT SPACE HAS ALREADY BEEN CONTRACTED.

ARBITRATION : ALL DISPUTES IN CONNECTION WITH THIS CONTRACT OR THE EXECUTION THEREOF SHALL BE SETTLED BY FRIENDLY NEGOTIATION. IF NO SETTLEMENT CAN BE REACHED, THE CASE IN DISPUTE SHALL THEN BE SUBMITTED FOR ARBITRATION TO SHANGHAI INTERNATIONAL ARBITRATION CENTER IN ACCORDANCE WITH THEIR REGULATION AND SUBJECT TO CHINESE LAW. THE LANGUAGE FOR ARBITRATION SHOULD BE ENGLISH; THE REFERENCE SHALL BE THREE ARBITRITORS; THE ARBITRAL AWARD SHALL BE ACCEPTED AS FINAL AND BINDING UPON BOTH PARTIES. THE ARBITRATION EXPENSES SHALL BE BORNE BY THE LOSING PARTY .
CONDITIONS OF SALE : THIS CONTRACT WILL BE COVERED BY THE PROVISIONS OF INCOTERMS 2010-UCP600. THE SIGNED CONTRACT TRANSMITTED BY FACSIMILE SHALL BE CONSIDERED ORIGINAL.







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HONGKONG GRAND INTERNATIONAL CO., LTD. HOANG VIET STEEL CO., LTD



KINDLY SIGN, STAMP AND RETURN FAX COPY THIS CONTRACT ON/BEFORE 17TH SEP., 2015, IF NOT RETURN WITHIN THAT
PERIOD, IT WILL BE DEEMED TO BE AT HONGKONG GRAND INTERNATIONAL CO., LTD’S DISCRETION.

Kết quả (Việt) 1:

CÔNG TY TNHH MỘT THÀNH VIÊN QUỐC TẾ HỒNG KÔNG GRANDĐỊA CHỈ: SUITE 1505-6, ALBION PLAZA, 2-6 GRANVILLE ROAD, TSIM SHA TSUI, KOWLOON, HỒNG KÔNGĐIỆN THOẠI: 0086-21-61279592 FAX: [phone]HỢP ĐỒNG BÁN HÀNG SỐ D11GDF009 NGÀY: 17 THÁNG 9 NĂM 2015ĐỊA CHỈ: THƯỢNG HẢI, TRUNG QUỐCNGƯỜI BÁN: CÔNG TY TNHH QUỐC TẾ GRAND HỒNG KÔNGĐỊA CHỈ: SUITE 1505-6, ALBION PLAZA, 2-6 GRANVILLE ROAD, TSIM SHA TSUI, KOWLOON, HỒNG KÔNGNGƯỜI MUA: HOÀNG VIỆT STEEL CO, LTDĐỊA CHỈ: KHU CÔNG NGHIỆP KHÊ CHÂU, CHÂU KHE WARD, TỈNH TU SƠN, BẮC NINHHỢP ĐỒNG ĐƯỢC CHIA RA GIỮA NGƯỜI MUA VÀ NGƯỜI BÁN THEO ĐÓ NGƯỜI MUA ĐỒNG ý ĐỂ MUA VÀ NGƯỜI BÁN ĐỒNG Ý BÁN HÀNG HÓA UNDERMENTIONED TÙY THUỘC VÀO CÁC ĐIỀU KHOẢN VÀ ĐIỀU KIỆN QUY ĐỊNH SAU ĐÂY:HÀNG HÓA: CÁC NGUYÊN TỐ NÓNG CÁN HỢP KIM THÉP DÂY TRÒNCHẤT LƯỢNG: ASTM A510M SAE1008CR (CHROM: 0.3PCT PHÚT) SỐ LƯỢNG TỔNG SỐ: 1000MT (+ /-10% IN TỔNG SỐ CỦA NGƯỜI BÁN LỰA CHỌN) KÍCH CỠ SỐ LƯỢNG (MT) ĐƠN VỊ PRICE(USD) AMOUNT(USD)6.5mm 1000 299 299,000.00TẤT CẢ 1000 299,000.00TỔNG SỐ TIỀN: USD 299,000.00 (+ /-10%). GIÁ TỪ: CFR FO CQD HẢI PHÒNG PORT, VIỆT NAM NHƯ LÀ MỘT INCOTERMS 2010; TRỌNG LƯỢNG CUỘN: 2,6 MT MAXVẬN CHUYỂN MARK: MỖI CUỘN DÂY VỚI MỘT MILL THẺ CỘNG VỚI MỘT THẺ PHỤ HIỂN THỊ HOÀNG VIỆT VÀ MÀU ĐÁNH DẤUXUẤT XỨ: CỦA CỘNG HOÀ TRUNG HOA NHÀ SẢN XUẤT: CÔNG TY TNHH TẤM DINH KHẨU PHƯƠNG TIỆN TRUYỀN THÔNG MINMETAL ĐÓNG GÓI: MILL' S XUẤT KHẨU TIÊU CHUẨN BAO BÌHOÁ ĐƠN: BỞI TRỌNG LƯỢNG CƠ THỂ THỰC TẾ CƠ SỞNGÀY CỦA LÔ HÀNG: ON HAY TRƯỚC NGÀY 15 THÁNG 11, NĂM 2015PARTIAL SHIPMENT : ALLOWED.TRANSHIPMENT : NOT ALLOWED.LOADING PORT : ANY PORT IN CHINA.DISCHARGE PORT : HAIPHONG PORT, VIETNAMPAYMENT TERMS : THE BUYER SHALL OPEN, WITH A BANK TO BE ACCEPTED BY BOTH THE BUYER AND THE SELLER, AN IRREVOCABLE AND NON-TRANSFERABLE LETTER OF CREDIT PAYABLE AT SIGHT FOR 100% OF CONTRACT VALUE IN US DOLLARS, TO BE OPENED IN FAVOUR OF HONGKONG GRAND INTERNATIONAL CO., LTD. ON OR BEFORE SEP.24RD , 2015. THE L/C CONTENT SHOULD BE STRICTLY IN CONFORMITY WITH THE STIPULATION OF THIS CONTRACT. IN CASE OF THE L/C CONTENT NOT STRICTLY IN CONFORMITY WITH THE STIPULATION OF THE CONTRACT THE L/C SHOULD BE AMENDED WITHIN 2 WORKING DAYS AFTER THE SELLER INFORMS THE BUYER, THE CHARGE FOR AMENDMENT SHOULD BE FOR REQUEST’S ACCOUNT, IF THE BUYER CAN NOT AMEND THE L/C WITHIN THAT PERIOD, THE SELLER HAS THE RIGHT TO CANCEL THE CONTRACT. LETTER OF CREDIT TO ALLOW:1) L/C TO BE OPENED BY FULL SWIFT/CABLE;2) LATEST SHIPMENT BY 15TH NOV., 2015;3) EXPIRY FOR NEGOTIATION LATEST 9TH DEC., 2015;4) 24 DAYS FOR NEGOTIATION; EXPIRY PLACE: NEGO BANK’S COUNTER;5) +/-10 PERCENT TOLERANCE ON TOTAL QUANTITY AND AMOUNT ACCEPTABLE;QUANTITY AND AMOUNT FOR EACH SIZE EXCEEDING +/-10 PERCENT TORLERANCE BUT TOTAL QUANTITY AND AMOUNT NOT EXCEEDING IS ACCEPTABLE;6) THIRD PARTY DOCUMENTS ACCEPTABLE EXCEPT INVOICE AND DRAFT;7) CHARTER PARTY BILL OF LADING TO BE ACCEPTABLE;8) LC TO BE AVAILABLE WITH ANY BANK BY NEGOTIATION;9) ALL APPARENT SPELLING MISTAKES/TYPING ERRORS/MISTAKES IN LC DOCUMENTS, WHICH DO NOT ALTER MEANING/SPECIFICATION/DESCRIPTION /QUANTITY/VALUE OF GOODS ARE ACCEPTABLE AND WILL NOT COUNT AS A DISCREPANCY.10) BILL OF LADING INDICATING THE FOLLOWING NOTATIONS AND/OR SIMILAR WORDING ARE ACCEPTABLE: 'ATMOSPHERIC RUST'/'CARGO UNPROTECTED' /'LOADED FROM OPEN STORAGE'/'PARTLY RUST STAINED'/'WET BEFORE SHIPMENT'/ 'WEIGHT AS PER SHIPPER'S SCALE'. RUSTY EDGES/OIL STAINED/RUST STAINED/SOME RUSTY EDGES” AND/OR “UNPROTECTED CARGO” AND/OR “SAID TO BE’ AND/OR “STORED IN OPEN AREA PRIOR TO LOADING”. 11) ALL BANK CHARGES OUTSIDE BENFICIARY’S BANK ARE FOR BUYER’S ACCOUNT. AMENDMENT CHARGES FOR L/C, IF ANY ARE FOR ACCOUNT OF THE PARTY WHO REQUESTS, UNLESS L/C IS NOT OPENED IN ACCORDANCE WITH TERMS AND CONDITIONS OF THIS CONTRACT. IN SUCH CASES, L/C AMENDMENT CHARGES ARE FOR THE BUYER’S ACCOUNT.INSURANCE : TO BE COVERED BY THE BUYER AND FOR BUYER’S ACCOUNT. DOCUMENTS TO BE PRESENTED UNDER L/C: THE FOLLOWING DOCUMENTS TO BE PRESENTED WITHIN 24 DAYS AFTER B/L DATE BUT WITHIN VALIDITY OF L/C ARE ACCEPTABLE. 1) 3/3 ORIGINAL COMMERCIAL INVOICE FOR CARGO VALUE; 2) 3/3 ORIGINAL SELLER’S PACKING LIST SHOWING NUMBER OF COILS, GROSS WEIGHT AND NET WEIGHT AND COLOR MARKING. 3) 3/3 ORIGINAL SHIPPED ON BOARD OCEAN BILLS OF LADING MADE OUT TO ORDER AND BLANK ENDORSED NOTIFYING THE APPLICANT. MARKED “FREIGHT PREPAID”; SHOWING NUMBER OF COILS, GROSS WEIGHT, NET WEIGHT, COLOR MARK OR SHIPPING MARK. 4) BENEFICIARY’S CERTIFICATE STATING THAT ONE SET OF NON - NEGOTIABLE DOCUMENTS, ONE ORIGINAL MILL’S TEST CERTIFICATE ISSUED BY THE MILL AND CERTIFICATE OF ORIGIN FORM E ISSUED BY CIQ HAVE BEEN SENT TO APPLICANT WITHIN 07 WORKING DAYS AFTER SHIPMENT DATE 5) BENEFICIARY’S CERTIFICATE STATING THAT SHIPMENT ADVICE INDICATING FULL SHIPPING PARTICULARS INCLUDING NAME OF COMMODITY AND ITS EXACT QUANTITY LOADED, WEIGHT, VALUE, PORT OF LOADING, ETD/ETA, B/L NUMBER AND ITS DATE HAS BEEN FAXED TO THE APPLICANT WITHIN 07 WORKING DAYS AFTER SHIPMENT DATE.DOCUMENTS TO BE PRESENTED OUTSIDE L/C: 1) ORIGINAL CERTIFICATE OF ORIGIN FORM E ISSUED BY CIQ; 2) MILL’S TEST CERTIFICATEQUALITY/QUANTITY CLAIM : CLAIMS IF ANY SHOULD BE LODGED BY BUYER WITHIN 30 DAYS FROM THE COMPLETION OF DISCHARGE FOR SHORTWEIGHT AND 20 DAYS FOR VISIBLE DEFECTS AND 30 DAYS FOR HIDDEN DEFECTS. SUCH CLAIMS MUST BE SUPPORTED BY BOTH PARTY AGREED INDEPENDENT INSPECTOR’S REPORT. IN CASE OF SHORTWEIGHT CLAIM, MUST BE SUPPORTED BY TRUCK WEIGHT BRIDGE RECEIPTS AT PORT OF DISCHARGE. FRANCHISE ON QUANTITY TO BE +/-0.5% INSPECTOR’S REPORT AT DISCHARGING PORT IS FINAL FOR BOTH QUANTITY AND QUALITY.SELLERS/BUYERS OBLIGATION : IN CASE L/C CAN NOT BE OPENED WITHIN THE PERIOD STIPULATED ABOVE, THE SELLER SHALL HAS THE OPTION TO CANCEL THE CONTRACT AND THE BUYER HAS TO PAY NON-PAYMENT PENALTY OF 2% CONTRACT VALUE TO THE SELLER’S ACCOUNT WITHIN 5 WORKING DAYS AFTER RECEIVING THE CLAIM LETTER FROM THE SELLER;IN CASE SHIPMENT CAN NOT BE EFFECTED WITHIN THE LATEST DATE DUE TO THE SELLER’S DEFECT, THE BUYER SHALL HAS THE OPTION TO CANCEL THE CONTRACT AND THE SELLER HAS TO PAY NON-SHIPMENT PENALTY OF 2% CONTRACT VALUE TO THE BUYER’S ACCOUNT WITHIN 5 WORKING DAYS AFTER RECEIVING THE CLAIM LETTER FROM THE BUYER;FORCE MAJEURE : NEITHER SELLER NOR BUYER SHALL BE LIABLE FOR ANY DELAY OR FAILURE OF PERFORMANCE UNDER THIS CONTRACT WHERE SUCH FAILURE OR DELAY IS CAUSED BY FORCE MAJEURE BEING ANY EVENT, OCCURRENCE OR CIRCUMSTANCES REASONABLY BEYOND THE CONTROL OF EITHER PARTY, INCLUDING BUT NOT LIMITED TO: FAILURE OR DELAY CAUSED BY OR RESULTING FROM ACTS OF GOD, STRIKES, FIRES, FLOODS, WARS (WHETHER DECLARED OR UNDECLARED), RIOTS, DELAYS OF CARRIERS DUE TO BREAKDOWN OR ADVERSE WEATHER, PERILS OF THE SEA, EMBARGOES, ACCIDENTS RESTRICTIONS IMPOSED BY ANY GOVERNMENTAL AUTHORITY (INCLUDING ALLOCATION, PRIORITIES, REQUISITIONS, QUOTAS AND PRICE CONTROLS).THE TIME OF SELLER TO MAKE OR BUYER TO RECEIVE THEREUNDER SHALL BE EXTENDED DURING ANY PERIOD IN WHICH DELIVERY SHALL BE DELAYED BY REASON OF ANY OF THE FOREGOING CAUSES UP TO TOTAL 30 DAYS. IF ANY DELIVERY HEREUNDER SHALL BE SO DELAYED OR PREVENTED FOR MORE THAN 30 DAYS, EITHER PARTY MAY TERMINATE THIS CONTRACT WITH RESPECT TO SUCH DELIVERY UPON WRITTEN NOTICE TO THE OTHER PARTY. SUCH WRITTEN NOTICE OF TERMINATION SHALL NOT APPLY TO MATERIAL FOR WHICH FREIGHT SPACE HAS ALREADY BEEN CONTRACTED.
ARBITRATION : ALL DISPUTES IN CONNECTION WITH THIS CONTRACT OR THE EXECUTION THEREOF SHALL BE SETTLED BY FRIENDLY NEGOTIATION. IF NO SETTLEMENT CAN BE REACHED, THE CASE IN DISPUTE SHALL THEN BE SUBMITTED FOR ARBITRATION TO SHANGHAI INTERNATIONAL ARBITRATION CENTER IN ACCORDANCE WITH THEIR REGULATION AND SUBJECT TO CHINESE LAW. THE LANGUAGE FOR ARBITRATION SHOULD BE ENGLISH; THE REFERENCE SHALL BE THREE ARBITRITORS; THE ARBITRAL AWARD SHALL BE ACCEPTED AS FINAL AND BINDING UPON BOTH PARTIES. THE ARBITRATION EXPENSES SHALL BE BORNE BY THE LOSING PARTY .
CONDITIONS OF SALE : THIS CONTRACT WILL BE COVERED BY THE PROVISIONS OF INCOTERMS 2010-UCP600. THE SIGNED CONTRACT TRANSMITTED BY FACSIMILE SHALL BE CONSIDERED ORIGINAL.







-------------------------------------------------- --------------------------------------------------
HONGKONG GRAND INTERNATIONAL CO., LTD. HOANG VIET STEEL CO., LTD



KINDLY SIGN, STAMP AND RETURN FAX COPY THIS CONTRACT ON/BEFORE 17TH SEP., 2015, IF NOT RETURN WITHIN THAT
PERIOD, IT WILL BE DEEMED TO BE AT HONGKONG GRAND INTERNATIONAL CO., LTD’S DISCRETION.