Preamble of a ContractThis contract

Preamble of a Contract
This contract is made this 29th day of March, 2010 in Ho Chi Minh City, Vietnam by and between ABC Corporation ( hereafter referred to as “Seller” ), a Corporation having their principal office in Ho Chi Minh City, Vietnam who agrees to sell, and XYZ Corporation (hereafter referred to as “Buyer”), a Corporation having their principal office New York, USA, who agrees to buy the following goods on the terms and conditions as below:
This purchase AGREEMENT, made this 28th day of April, 2012 betwwen the paries Huyndai Motor, henceforth referred to in this AGREEMENT as Seller, and General Motors, henceforth referred to in this AGREEMENT as Buyer, legally transfers sole ownership of the HM car, henceforth referred to as PROPERTY in this AGREEMENT, from Seller to Buyer in exchange for the full AMOUNT, paid on the 20th of May,2012 of 10 million (USD).
Terms of Verification and Acceptance
1. In order to inspect the correctness and the reliability of the Documentation supplied by Party B, a verification test on Contract Product shall be jointly carried put in Party A’s factory with the participation of Party B’s technical personnel. The method of the performance test is set out in detail in Appendix 5 to the Contract.
2. If the verification test demonstrates that the performance of the Contract Product is not in conformity with the stipulated technical parameters, both paties shall make joint study, analyze the causes and take measures to eliminate the defects and carry out a second test. When the second test demonstrates that the performance is qualified, both paries shall sign a Performance Quality Certificate as stipulated in Section 7.2
Terms of Packing
Packing must be suitable for ocean shipment and sufficiently strong to withstand rough handling. Bales must be press-packed and hooped, with adequate inside water-proof protection and the outer wrapping must comprise good quality canvas. Cases or other outside containers must be extenally of the smallest cubic dimension consistment with adequate protection of the goods. Pakages must bear full marks and shipping number stencilled in good quality stencil ink in large plain characters on two sides and one end of each pakage. All bales must be marked “use no hooks”.
Terms of Shipment
Shipment within the last ten-play period of March, 2012, subject to acceptable Letter of Credit reaches Sellers before the last ten-day period of January,2012, and partial shipment is not allowed.
Terms of Overdue Interest Payment
If the Buyer fails to pay any amount when due, the Buyer shall be liable to pay to the seller overdue interest on such unpaid amount from the due date until the actual date of payment at the rate of 5% percent per annum. Suc overdue interest shall be paid upon demand of the Seller.
Terms of Quality Guaranty
1. The Seller shall guarantee that the goods supplied by the Seller are made of the best materials, with first-class workmanship, brand new, unused and correspondent in all respects with the quality, specifications and performance as stipulated in this Contract. The Seller also guarantee that the goods when correctly mounted and properly operated and maintained, shall give satisfactory performance for a period of two years starting from the date on which the goods arrive at the port of destination.