This agreement is made and entered into by and between the parties concerned on_________,_________ in _________, China on the basis of equality and mutual benefit to develop business on terms and conditions mutually agreed upon as follow:
1. The Parties Concerned
Party A:_________
Add:____________
Tel:_____________
Party B:_________
Add:____________
Tel:_____________
2. Appointment
Party A hereby appoints Party B as its Exclusive Agent to solicit orders for the commodity stipulate in Article 3 from customers in the territory stipulated in Article 4,and Party B accepts and assumes such appointment.
3. Commodity
“Golden Fish” Brand Washing Machines
4. Territory
In Singapore only
5. Minimum turnover
Party B shall undertake to solicit orders for the above commodity from customers in the above territory during the effective period of this agreement for not less than USD 100,000,00.
6. Price and Payment
The price for each individual transaction shall be fixed through negotiations between Party B and the buyer, and subject to Party A’s final confirmation.
Payment shall be made by confirmed, irrevocable L/C opened by the buyer in favor of Party A ,which shall reach Parth A 15 days before the date of shipment.
7. Exclusive Right
In consideration of the exclusive rights granted herein, Party A shall not, directly or indirectly, sell or export the commodity stipulated in Article 4 to customers in Singapore through channels other than Party B; Party B shall not sell, distribute or promote the sales of any products competitive with or similar to the above commodity in Singapore and shall not solicit or accept orders for the purpose of selling them outside Singapore. Party A shall refer to Party B any enquiries or orders for the commodity in question received by Party A from other firms in Singapore during the validity of this agreement.
8. Market Report
In order to keep Party A well informed of the prevailing market conditions, Party B should undertake to supply Party A, at least once a quarter or at any time when necessary, with market reports concerning changes of the local regulations in connection with the import and sales of the commodity covered by this agreement, local market tendency and the buyer’s comments on quality, packing, price, etc. of the goods supplied by Party A under this agreement. Party B shall also supply party A with quotations and advertising materials on similar products of other suppliers.
9. Advertising and Expenses
Party A shall bear all expenses for advertising and publicity in connection with the commodity in question in Singapore within the validity of this agreement,and shall submit to Party A all audio and video materials intended for advertising for prior approval.
10. Commission
Party A shall pay Party B a commission of 5% on the net invoiced selling price on all orders directly obtained by Party B and accepted by party A. No commission shall be paid until Party A receives the full payment for each order.
11. Transactions Between Governmental Bodies
Transactions concluded between govenmental bodies of Party A and Party B shall not be restricted by the terms and conditions of this agreement, nor shall the amount of such transactions be counted as part of the turnover stipulated in Article 5.
12. Industrial Property Rights
Party B may use the trade-marks owned by Party A for the sale of the Washing Machines covered herein within the validity of this agreement, and shall acknowledge that all patents, trademarks, copy rights or any other industrial property rights used or embodied in the Washing Machines shall remain to be the sole properties of Party A. Should any infringement be found, Party B shall promptly notify and assist Party A to take steps to protect the latter’s rights.
13. Validity of Agreement
This agreement, when duly signed by the both parties concerned, shall remain if force for 12 months from October 1, 1992 to September 30,1993, and it shall be extended for another 12 months upon expiration unless notice in writing is given to the contrary.
14. Termination
During the validity of this agreement, if either of the two parties is found to have violated the stipulations herein, the other party has the right to terminate this agreement.
15. Force Majeure
Either party shall not be held responsible for failure or delay to perform all or any part of this agreement due to flood, fire, earthquake, draught, war or any other events which could not be predicted, controlled, avoided or overcome by the relative party. However, the party affected by the event of Force Majeure shall inform the other party of its occurrence in writing as soon as possible and thereafter send a certificate of the event issued by the relevant authorities to the other party within 15 days after its occurrence.
16. Arbitration
All disputes arising from the performance of this agreement shall be settled through friendly negotiation. Should no settlement be reached throught negotiation, the case shallthen be submitted for arbitration to the China International Economic and Trade Arbitration Commission (Beijing) and the rules of this Commission shall be applied. The award of the arbitration shall be final and binding upon both parties.
Party A:_________ Party B:_________
(Signature) (Signature)
Agreement 篇2
Party A:_________
Address:_________
Party B:_________
Address:_________
Both parties of Party A and Party B have signed the Translation Service Contract based on the principle of friendly cooperation and mutual development. The articles are as follows:
1.Party A entrusts Party B with the translation service. Party A shall provide legible documents in time and give clear requirements and control the translation quality of Party B.
2.Party B shall complete the translation work in time and deliver the translation by printed hard copy and a relevant disk within the agreed date (with the exception of the delay caused by Force Majeure). Details about the delivery time will be discussed between the two parties. For the urgent request, the delivery time will be discussed accordingly between the two parties.
3.Party B shall keep confidentiality of any documents provided by Party A and can not disclose to the third party.
4.Calculation of the load of translation: For electronic documents, the translation load shall be based on the statistics of the computer (Chinese Version Word,自_____至_____。若一方希望延长本协议,则须在本协议期满前一个月书面通知另一方,经双方协商决定。
若协议一方未履行协议条款,另一方有权终止协议。
ValidityofAgreement
Thisagreement,afteritsbeingsignedbythepartiesconcernedshallremainofinforcefor_____asfrom_____to_____IfeitherpartywishtoextendthisAgreement,heshallnotice,inwriting,theotherpartyonemonthpriortoitsexpiration,themattershallbedecidedbyconsentofthepartieshereto.
Shouldentherpartyfailtoimplementthetermsandconditionsherein,theotherpartyisentitledtoterminatetheAgreement.
10仲裁
在履行协议过程中,如产生争议,双方应友好协商解决。若通过友好协商未能达成协议,则提交中国国际贸易促进委员会对外贸易仲裁委员会,根据该会仲裁程序暂行规定进行仲裁。该委员会决定是终局的,对双方均有约束力。仲裁费用,除另有规定外,由败诉一方负担。
Arbitration
Alldisputesarisingfromtheexecutionofthisagreementshallbesettledthroughfriendlyconsultations.Incasenosettlementcanbereached,thecaseindisputeshallthenbesubmittedtotheForeignTradArbitrationCommissionoftheChinaCouncilforthePromotionofInternationalTradeforArbitrationinaccordancewithitsProvisionalRulesofProcedure.Thedecesionmadebythiscommissionshallberegardedasfinalandbindinguponbothparties.Arbitrationfeesshallbebornebythelosingparty,unlessotherwiseawarded.
11其它条款
(1)甲方不得向经销地区其它买主供应本协议所规定的商品,如有询价,当转给乙方洽办。若有买主希望从甲方直接订购,甲方可以供货,但甲方须将有关销售确认书副本寄给乙方,并按所达成交易的发票金额给乙方_____%的佣金。
(2)若乙方在_____月内未能向甲方提供至少_____的订货,甲方不承担本协议的义务。
(3)对双方政府间的贸易,甲方有权按其政府的授权进行有关的直接贸易,而不受本协议的约束。乙方不得干涉此种直接贸易,也无权向甲方提出任何补偿或佣金要求。
(4)本协议受签约双方所签定的销售确认条款的制约。
11OtherTerms&Conditions
(1)PartyAshallnotsupplythecontractedcommoditytoanyotherbuyersintheabovementionedterritory.Directenquiries,ifany,willbereferredtoPartyB.Howerver,shouldanyotherbuyerswishtodealwithPartyAdirectly,PartyAmaydoso,ButPartyAshallsendtoPartyBacopyofsalesconfirmaitonandgivepartyB_____%commission(s)concluded.
(2)ShouldPartyBfailtopassonhisorderstoPartyAinaperiodof_____monthsforaminimumof_____,PartyAshallnotbindhimselftothisAgreement.
(3)ForanybusinesstransactedbetweengovernmentsofbothParties,PartyAmayhandlesuchdirectdealingsasauthorizedbyPartyA’sgovernmentwithoutbindinghimselftothisAgreement.PartyBshallnotinterfereinsuchdirectdealings,norshallPartyBbringforwardanydemandforcompensationtherefrom.
(4)ThisAgreementshallbesubjecttothetermsandconditionsintheSalesConfirmationsignedbybothpartieshereto.
本协议于_____年___月___日在_____签定,正本两份,甲乙双方各执一份。
ThisAgreementissignedon___/___/_____at_____andisintwooriginals,eachpartyholdsone.
甲方:_________PartyA:_________
乙方:_________PartyB:_________
签字:_________Signature:_________
签字:_________Signature:_________
Agreement 篇6
合同号:_______
No:___________
日期:_________
Date:_________
为在平等互利的基础上发展贸易,有关方按下列条件签订本协议:
This Agreement is entered into between the parties concerned on the basis of equality and mutual benefit to develop business on terms and conditions mutually agreed upon as follows:
1. 订约人
Contracting Parties
供货人(以下称甲方):_____________
销售代理人(以下称乙方):_________
甲方委托乙方为销售代理人,推销下列商品。
Supplier: (hereinafter called “party A”)____________
Agent:(hereinafter called “party B”)________________
Party A hereby appoint Party B to act as his selling agent to sell the commodity mentioned below.
2. 商品名称及数量或金额
Commodity and Quantity or Amount
双方约定,乙方在协议有效期内, 销售不少于_______的商品。
It is mutually agreed that Party B shall undertake to sell not less than_____of the aforesaid commodity in the duration of this Agreement。
3. 经销地区
Territory
只限在___________
In ___ only______
4. 订单的确认
Confirmation of Orders
本协议所规定商品的数量、价格及装运条件等,应在每笔交易中确认,其细目应在双方签订的销售协议书中作出规定。
The quantities, prices and shipments of the commodities stated in this Agreement shall be confirmed in each transaction, the particulars of which are to be specified in the Sales Confirmation signed by the two parties hereto.
5. 付款
Payment
订单确认之后,乙方须按照有关确认书所规定的时间开立以甲方为受益人的保兑的、不可撤销的即期信用证。乙方开出信用证后,应立即通知甲方,以便甲方准备交货。
After confirmation of the order, Party B shall arrange to open a confirmed, irrevocable L/C available by draft at sight in favour of Party A within the time stipulated in the relevant S/C. Party B shall also notify Party A immediately after L/C is opened so that Party A can get prepared for delivery.
6. 佣金
Commission
在本协议期满时,若乙方完成了第二款所规定的数额,甲方应按装运货物所收到的发票累计总金额付给乙方________%的佣金。
Upon the expiration of the Agreement and Party B’s fullfilment of the total turnover mentioned in Article 2, Party A shall pay to Party B______% commission on the basis of the aggregate amount of the invoice value against the shipments effected.
7. 市场情况报告
Reports on Market Conditions
乙方每3个月向甲方提供一次有关当时市场情况和用户意见的详细报告。同时,乙方应随时向甲方提供其他供应商的类似商品样品及其价格、销售情况和广告资料。
Party B shall forward once every three months to party A detailed reports on current market conditions and of consumers’ comments. Meanwhile, Party B shall,from time to time, send to party A samples of similar commodities offered by other suppliers, together with their prices, sales information and advertising materials.
8. 宣传广告费用
Advertising & Publicity Expenses
在本协议有效期内,乙方在上述经销地区所作广告宣传的一切费用,由乙方自理。乙方须事先向甲方提供宣传广告的图案及文字说明,由甲方审阅同意。
Party B shall bear all expenses for advertising and publicity within theaforementioned territory in the duration of this Agreement and submit to Party A all patterns and/or drawings and description for prior approval.
9. 协议有效期
Validity of Agreement
本协议经双方签字后生效,有效期为_______天,自________至________。若一方希望延长本协议,则须在本协议期满前1个月书面通知另一方,经双方协商决定。
若协议一方未履行协议条款,另一方有权终止协议。
This Agreement, after its being signed by the parties concerned, shall remain in force for________ days from ________ to _______ If either Party wishes to extend this Agreement, he shall notice, in writing, the other party one month prior to its expiration. The matter shall be decided by the agreement and by consent of the parties hereto. Should either party fail to implement the terms and conditions herein, the other party is entitled to terminate this Agreement.
10. 仲裁
Arbitration
在履行协议过程中,如产生争议,双方应友好协商解决。若通过友好协商达不成协议,则提交中国国际贸易促进委员会对外贸易仲裁委员会,根据该会仲裁程序暂行规定进行仲裁。该委员会的决定是终局的,对双方均具有约束力。仲裁费用,除另有规定外,由败诉一方负担。
All disputes arising from the execution of this Agreement shall be settled through friendly consultations. In case no settlement can be reached, the case in dispute shall then be submitted to the Foreign Trade Arbitration Commission of the China Council for the Promotion of International Trade for arbitration in accordance with its provisional rules of procedure. The decision made by this Commission shall be regarded as final and binding upon both parties. Arbitration fees shall be borne by the losing party ,unless otherwise awarded.
11. 其他条款
Other Terms & Conditions
(1) 甲方不得向经销地区其他买主供应本协议所规定的商品。如有询价,当转达给乙方洽办。若有买主希望从甲方直接订购,甲方可以供货,但甲方须将有关销售确认书副本寄给乙方,并按所达成交易的发票金额给予乙方________%的佣金。
Party A shall no t supply the contracted commodity to any other buyer(s) in the above mentioned territory. Direct enquiries, if any, will be referred to Party B. However, should any other buyers wish to deal with Party A directly, Party A may do so. But party A shall send to Party B a copy of Sales Confirmation and give Party B________% commission on the basis of the net invoice value of the transaction(s)concluded.
(2) 若乙方在_______月内未能向甲方提供至少订货,甲方不承担本协议的义务。
Should Party B fail to pass on his orders to Party A in a period of _________ months for a minimum of ________Party A shall not bind himself to this Agreement.
(3) 对双方政府间的贸易,甲方有权按其政府的授权进行有关的直接贸易,而不受本协议约束。乙方不得干涉此种直接贸易,也无权向甲方提出任何补偿或佣金要求。
For any business transacted between governments of both Parties, Party A may handle such direct dealings as authorized by Party A’s government without binding himself to this Agreement. Party B shall not interfere in such direct dealings nor shall Party B bring forward any demand for compensation therefrom.
(4) 本协议受签约双方所签订的销售确认条款的制约。
This Agreement shall be subject to the terms and conditions in the Sales Confirmation signed by both parties hereto.
本协议于________年_________月_________日在_________签订,正本两份,甲乙双方各执一份。
This Agreement is signed on __________at___________ and is in two originals;each Party holds one.
甲方:________ 乙方:_________
(签字) (签字)
Party A:_______ Party B:________
(Signature) (Signature)
Agreement 篇7
This agreement is made as of ________________________, ____, by and between ___________________________________________ (hereinafter referred to as ’Company’), a corporation duly organized under the laws of the State of ______________, and having its principal place of business at ______________________________________, and The Research Foundation of State University of New York (hereinafter referred to as ’Foundation’), having its principal place of business at 35 State Street, Albany, New York 12207 U.S.A. (mailing address: P.O. Box 9, Albany, New York12201-0009).
A.The parties to this Agreement have developed or acquired technical and other proprietary information relating to Research Foundation Invention Case Number ______________________,entitled’__________________________’(hereinafter referred to as ’Confidential Information’) and the parties wish to ensure that the information which may be disclosed to each other is treated in strictest confidence.
B.Each of the parties desires to receive such Confidential Information from the other for the limited purpose of evaluating the suitability of entering into a business relationship or sponsorship of research, and each party recognizes the importance of safeguarding such Confidential Information against unauthorized use or disclosure.
Now, therefore, in consideration of the disclosures made hereunder, and covenants entered into herewith, Company and Foundation agree as follows.
Company and Foundation are willing to disclose such information to each other under the following conditions:
1.Each party’s Confidential Information shall be supplied to the other party in written, graphic, photographic, recorded, prototype, sample, or in any other tangible form and shall be identified as being disclosed under this Agreement.Any Confidential Information which is disclosed in oral form shall be identified as such at the time of disclosure and confirmed in written summary form within thirty (30) days after its disclosure to the receiving party.
2.As used in this Agreement, ’Confidential Information’ shall mean all data, samples, technical and economic information, commercialization, clinical and research strategies, trade secrets and know-how disclosed or provided by one party to the other in accordance with Paragraph 1, except such information which (a) can be shown by the receiving party to have been in its possession prior to disclosure to it by the other party; (b) at the time of disclosure hereunder is, or thereafter, becomes, through no fault of the receiving party, part of the public domain by publication or otherwise; (c) is furnished to the receiving party by a third party after the time of disclosure hereunder as a matter of right and without restriction on its disclosure; (d) is independently developed by employees or agents of the receiving party who have not had access, direct or indirect, to the Confidential Information received from the other; (e) is furnished to others by the disclosing party without restriction on disclosure; or (f) is disclosed to a third party with the written approval of the disclosing party.
3.Each party agrees to limit its use of any Confidential Information received from the other party to the evaluation for the additional purpose of negotiating in good faith the terms and conditions of a licensing or research agreement between them, and for no other purpose unless the parties shall otherwise agree in writing.Each party agrees to not make, use, sell, offer for sale, or have made, any product or service based upon the Confidential Information provided to it without executing a licensing agreement.Each party further agrees not to reverse engineer or disassemble the technology disclosed to it.
4.Each party agrees to maintain in confidence and not to disclose any Confidential Information received from the other party other than to employees or agents who have a need to know the Confidential Information for the purpose described in Paragraph 3.
5.Each party agrees not to make any copies in whole or in part of Confidential Information or analyze samples of tangible materials included therein, which are not available on the open market or from other sources, for any purposes other than the purposes set forth in Paragraph 3, and will, upon request by the disclosing party, return all tangible materials furnished hereunder and any notes or memoranda of conversations relating thereto, including any copies thereof.
6.The party receiving Confidential Information under this Agreement shall be held to the same standard of care in protecting such information as the receiving party normally employs to preserve and safeguard its own Confidential Information of similar kind.
7.The obligation of the parties under this Agreement shall terminate on the fifth anniversary of the date of this Agreement.
8.No right or license under any patent application, patent or other proprietary right is granted hereunder by implication or otherwise.
9.This Agreement may not be changed or modified or released, discharged, abandoned, or otherwise terminated in whole or in part, except by an instrument in writing signed by a duly authorized officer of each of Company and Foundation.
10.This Agreement shall be construed under the laws of the State of New York.
In witness whereof, the parties hereto have executed this Agreement the day and year first above written.
The Research Foundation of State University of New York
By:_____________________
Date: _____________________
Title:____________________
Company
By:_____________________
Date: _____________________
Agreement 篇8
甲方:
PartyA:
PartyB:_______________________________;PassportNo:_________________________
鉴于甲方从事之经营项目的特殊性,甲乙双方根据有关法律、法规规定、在遵循平等自
愿、协商一致、诚实信用的原则下,就乙方在任职期间以及离职后的有关事项达成如下协议:
WhereasPartyAengagedinthebusinessviewofthespecialnatureoftheproject,bothpartiesin
accordancewithrelevantlawsandregulations,incompliancewithequality,voluntariness,
consensus,undertheprincipleofgoodfaith,duringpartyB’stenureandafterleaving,thematter
reachedthefollowingagreement:
第一条保密
Confidentiality
Item1
1.1乙方承诺,在本协议约定的保密期内,严格按照本协议的保密内容以及公司的保密制度
履行保密义务。
Forthetermofthisagreement,PartyBpromisetostrictlyfulfillconfidentiality
obligations,accordingtotheconfidentialitycontent&company’sconfidentialitypolicy.
第二条保密内容
Item2ConfidentialityContent
2.1不为公众知悉,能为甲方带来经济利益,具有实用性并经权利人采取保密措施的技术信
息和经营信息,包括但不限于:专有技术及配方、新产品研发过程及成果、经营计划及策略、
财务状况、客户资料以及供应商资料等。
Technicalandmanagementinformation,whichwasnot
knownbythepublic,canbringeconomicbenefitstoPartyA,withpracticality,andtherighttake
securitymeasuresfor,includingbutnotlimitedto:intellectualpropertyandformulations,new
productdevelopmentprocessandresults,managementplansandstrategies,financialcondition,
customerdataandvendorinformation,etc.
2.2甲方已掌握并负有保密责任的第三者(如甲方的客户或者供应商)的技术信息和经营信
息,包括但不限于:专有技术及配方、新产品研发过程及成果、经营计划及策略、财务状况、
客户资料以及供应商资料等等。
PartyAcontrolsandhasadutyofconfidentialitytoprotectthird
parties(suchasthePartyA'scustomersorsuppliers)oftechnicalandmanagementinformation,
includingbutnotlimitedto:intellectualpropertyandformulations,newproductdevelopment
processandresults,businessplansandstrategies,financialcondition,customerdataandvendor
information,andsoon.
2.3甲方以书面或其他形式确定为商业秘密的资料和信息。
DataandinformationwhichPartyA
inwritingorotherwiseidentifiedastradesecret.
第三条保密期限
Item3ConfidentialityPeriod
3.1除非甲方通过书面形式明确本协议所涉及的某项保密内容可以不用保密,则乙方应从与
甲方建立劳动关系之日起(包括试用期内),无限期保守甲方之商业秘密。
UnlessPartyAmake
sureinwritingthatacertainconfidentialcontentcoveredbythisagreementcannotbeconfidential,
thenPartyBshouldkeepthePartyA’stradesecretforeverfromthedateoflaborrelations
(includingprobation).
第四条泄密
Item4LeakageoftheTradeSecret
4.1凡未经甲方总经理或保密委员会书面授权而直接或间接以任何形式向任何人或任何组
织透露上述、涉及保密内容的行为均属泄密。
Withoutthewrittenauthorizationofthegeneral
managerorsecuritycommitteeofpartyA,behaviorsofdirectlyorindirectly,inanyformtoany
personororganizationtodisclosetheabovethecontent,arerelatedtoconfidentialdisclosure.
4.2当甲方将有关保密内容的资料或信息交由乙方保管时,若因乙方保管不当造成该资料或
信息的遗失、公开、泄露时,同样视为泄密。
WhenPartyAaskpartyBtokeeprelatingtothe
contentsofconfidentialdataorinformation,ifloss,publicity,disclosurecausedbyimproperstorage
ofthedataorinformation,forpartyB,thesameasaleak.
第五条违约责任
LiabilityforBreach
Item5
5.1如乙方行为造成泄密的,应立即终止泄密行为以及因此而引致的侵犯甲方商业秘密的行
为,积极协助甲方采取补救措施防止泄密范围的继续扩大,并向甲方支付由于违约行为而照
成的经济损失,该损失包括:直接损失、潜在损失以及权利人为主张权利而支付的费用等。
ThetradesecretleakagecausedbythePartyB’sbehavior,thosebehaviorshouldbeimmediately
terminatedandtheactsofinfringementonPartyA’stradesecretsshouldbeimmediately
terminated;PartyBshouldactivelyassistthePartyAtotakeremedialmeasurestopreventthe
continuedexpansionofthedisclosure,duetothebreach,PartyBshouldpaytoPartyAaccording
tothecausedeconomiclosses,thelossesinclude:directlosses,potentiallossesandtheexpenses
oftheallegation.
5.2若该泄密行为发生在甲、乙双方劳动合同关系存续期间,则乙方除承担上述责任外,甲
方还有权无条件解除与乙方的劳动合同。
Iftheleaksoccurredduringthetermofthelabor
contractbetweenPartyAandPartyB,InadditiontoassumptionoftheseresponsibilitiesbyPartyB,
PartyAhastherighttounconditionallyterminatethelaborcontractwithPartyB
第六条争议解决
Item6DisputeResolution
6.1如因本协议之履行发生争议,甲、乙双方应友好协商解决;协商不成,由公司所在地人
民法院处理。
Ifthereisadisputeonimplementationofthisagreement,PartyAandPartyBshould
besettledthroughfriendlyconsultations;otherwisebythelocalpeople'scourtintheareaofthe
company,ifnegotiationfails.
第七条本协议一式两份,甲、乙双方各执一份,每份具同等效力。
Item7Thisagreementshallbeheldintwocopiesofthesameform.Eachpartyshallpreserveone
copywithequallegaleffect.
甲方:乙方:
PartA:PartyB:
代表人:
Representative:
Date:Date:
Agreement 篇9
DATED:______________________
between
______‘sYachtCompanyLimited,HongKong.(Hereinafterreferredtoas“theBuilder”)
and
BBBCC,Vietnam,(Hereinafterreferredtoas“theBuyer”)
WHEREAS:
1)TheBuyerwishestoacquireaAAA‘sCape65TrawlerYacht(theyacht)designedbyThanosCondylis,andbuilttotheBuyer’sstatedrequirementsandspecification,andtheBuilderhasthecapability,knowledgeandskillstobuildandsupplythesame.
2)TheBuilderhasagreedtoconstruct,equip,fit-out,testanddelivertheYachttotheBuyer‘sstatedrequirementsandspecification,whichtheBuyerhasagreedtoacceptuponthetermsandconditionshereinafterspecified:
NowthereforethePartiesheretohaveagreedanddoherebyagreeasfollows:
ARTICLEI-INTERPRETATION
1)InthisContractthefollowingwordsandexpressionsshallhavethemeaningherebyascribedtothem,exceptwherethecontextotherwiseadmitsorrequires:
“BankingDays”ShallmeandaysuponwhichHongKongclearingbanksarecustomarilyopenforbusiness.
“theBuilder‘sClarifications”ShallmeanthedocumentssoentitledformingpartofthisContractandsetoutasAnnexeshereto;(SeealsoItem(2)ofthisArticle.)
“Buyer‘sRepresentative(s)”ShallmeansuchpersonsnotifiedfromtimetotimebytheBuyerashavingauthoritytoactfortheBuyer,theextentofsuchauthoritybeingsetoutinthenotice;
“ItemsofBuyer‘ssupply”ShallmeananyitemofequipmentandstoresfortheYachtorderedbytheBuyerdirectfromthemanufacturerorthesupplier,forincorporationintheYachtbytheBuilder;
“ItemsofBuilder‘ssupply”ShallmeananyitemofequipmentandstoresfortheYachtorderedbytheBuilderdirectfromthemanufacturerorthesupplier,forincorporationintheYacht;
“theCertifying/SurveyBody”Shallmeanthebodyresponsibleforthesurveyandcertificationoftheyachttotherequirementsofthebuyer.
“theContract”Shallmean(a)thisContract,and(b)theattachedAnnexesandschedulemoreparticularlydescribedbelow.
“theContractDeliveryDate”Shallmeannolaterthan________;
“theContractMasterProgramme”ShallmeantheprogrammeforconstructionoftheYacht,setoutinAnnexD;
“theContractPrice”ShallmeanthepricestipulatedinArticleVfortheYacht,YardNumber005;
“theYacht”ShallmeantheyachtthesubjectofthisContractandgenerallyasdescribedinArticleII,withallthemachinery,apparatus,outfit,materials,andequipmentappurtenantthereto,butexcludingtheitemsofBuyer‘ssupply.“theBoatyard”ShallmeanAAA‘sYachtCompany,Xinhui,China.
“theDesignSpecifications”Shallmeanthespecifications,designs,plansanddrawings,setoutinScheduleA,preparedandsignedbytheBuyer,identifiedasformingpartofthisContract,andincludingsuchrevisedorsupplementalspecifications,plansanddrawingsasmaysubsequentlybeagreedbetweentheBuyerandtheBuilderPROVIDEDthat(i)inthecaseofanyinconsistencybetweenanyArticleorparagraphofthisContractandtheDesignSpecifications,thisContractshallprevail,(ii)inthecaseofanyinconsistencybetweentheDesignSpecificationsandaplanordrawing,theDesignSpecificationshallprevail,and(iii)inthecaseofanyinconsistencybetweenoneplanordrawingandanotherplanordrawing,thelaterindateshallprevail;
’ScheduleA’Shallmeantheagreedscheduleofdrawings
“AnnexA”Shallmeanthelistofmaterials,componentsandequipmentdefiningacompletedyacht;
’AnnexB’Shallmeantheagreedweldqualityprocedures
“AnnexC”ShallmeantheagreedShotBlasting,Fairing,PaintingandfoamingSpecifications
’AnnexD“Shallmeantheagreedproductionschedulemasterprogram.
“Specified”ShallmeanstipulatedinthespecificationsandAnnexA;
“Supplier”Shallmeananyperson,firmorcompany,whichhasenteredintoacontractwiththeBuilderforthesupplyofmaterials,machinery,servicesorequipment(otherthanitemsofBuyer‘ssupply)fortheyacht;
TheIndex,Articleandparagraphheadings,areinsertedforconvenienceonlyandshallnotaffecttheconstructionofthisContract.
Wordsimportingthesingularshallincludethepluralandviceversa.
2)ListofBuilder‘sclarifications,notcoveredinAnnexAdocument:
“CradlesforTransport”ThesupplyofaCradleforshipmentisexcludedfromthisContract.
“Dressing/SteppingtheMast”ThedressingandsteppingofmastfortheYachtisincludedintheBuilder‘ssupply.
“Storage”TheBuilderwillarrangesecurestorageashorefortheYachtattheBoatyardbetweencompletionofbuildandhandoveratdelivery.
“Fabrication”TheBuilderwillsupplysteelinpre-cutformwithatestcertificateinaccordancewiththebuilder‘sproductionandqualityplan.
“Welding”TheContractisbasedonNDT(nondestructivetesting)beingconductedtothestandardsrequiredbyDetNorskeVeritasclassRulesforyachtandSmallCraft,including100%visualexamination.Radiographywillbecompletedwhereappropriate,attheBuilder‘scost.
AllweldingwillbecarriedoutinaccordancewiththequalityplanandISOweldproceduresapprovedbythebuyer‘srepresentativeandwillbeingeneralaccordancewithDetNorskeVeritasrequirements.
“ShotBlasting”ShotBlastingoftheYachtwillbeinaccordancewiththeagreedspecificationattachedinAnnexC.
“Insulation”TheinsulationoftheYachtwillbeinaccordancewiththeagreedspecificationattachedinAnnexC.
“FairingandPainting”ThefairingandpaintingoftheYachtwillbeinaccordancewiththeCoatingsSpecificationattachedinAnnexC.
“Equipment”TheresponsibilityforthesupplyofmaterialsandequipmentwillbeasdefinedandagreedintheComponentsList(AnnexA)fortheYacht.
“QualityPlanDocumentation”AnagreedqualityplanwillbeissuedcoveringallaspectsoftheYacht‘sconstruction,whichwillinclude:
a)Hull&DeckFabrication
b)BlastandPrime
c)FairandPaint
d)ElectricalandmechanicalEngineering
e)Fit-Out
ARTICLEII–DESCRIPTION
1)TheYachttobeconstructedunderthisContractisaMotorYachtofapproximately20.00metreslengthoveralldesignedbyThanosCondylis,asdescribedinthespecifications,withthefollowingmainparticulars:
ApproximateDimensions
Lengthoverallabout20.00metres
Lengthonthewaterlineabout18.03metres
Beam(max)about5.75metres
Draftabout1.77metres
2)AdistinctiveyardNumbershallbeplaceduponeachYachtandhermaterialsandoutfit,duringconstruction.TheYardNumberoftheYachtshallbeKYC-005.
ARTICLEIII–CONSTRUCTION,MATERIALSANDINSPECTION
1)TheYachtandhermachinery,outfit,equipment,materialsandworkmanshipshallbeinaccordancewiththisContractandtheDesignSpecifications.
2)Inprinciplethebuilderwillsupplyallmaterial,componentsandequipmentfortheyachtassetoutinAnnexeA.Anyadditionalmaterial,componentsorequipmentprocuredbythebuilderwillbebilledtothebuyeratdeliveredcostplus15%.Howeverthebuildermustnotifythebuyerinwritingpriortoprocurementofthecostandquantityofanyitemsforwhichthebuilderintendstobebilledtothebuyersaccount.
3)Intheeventofanydelayofdeliveryofmaterial,componentsandequipmentwhichareitemsofBuyer‘ssupply,bythebuyerresultingindelaystotheproductionschedulesetoutinAnnexeE,thecontractdeliveryperiodmaybeextendedbytheamountofthedelay.Providedalwaysthatthebuilderwillusehisbestendeavourstominimisethedelaysocausedbyre-schedulingworktoutilisethematerial,componentsandequipmentthathavealreadybeendeliveredtothebuilder.
4)IfanyspecifiedmaterialsarenotavailablewhenrequiredforincorporationontheYacht,theBuildershallbeatlibertytouseothersuitablematerialsinsubstitutiontherefore,subjecttotheapprovaloftheBuyer,whichapprovalshallnotbeunreasonablywithheld.AnyadjustmenttotheContract,DeliveryDateorDesignSpecificationresultingfromsuchsubstitutionshallbemadeinaccordancewiththeprovisionsofArticleIV.
5)DuringconstructionoftheYacht,theBuilderwillpermittheBuyer‘sRepresentativetoattendthetestsspecifiedinArticleVIIIandtohaveaccesstotheBoatyardduringordinaryworkinghourswhileworkisproceedingontheYacht.ThebuildermustgivereasonablenoticeofsuchteststotheBuyer’sRepresentativeinwriting.TheBuilderwilluseitsreasonableendeavourstoarrangefortheBuyer‘sRepresentativetohaveaccesstothepremisesoftheBuilder’ssubcontractorsforthepurposeofinspectingmaterialsandworkmanship.If,duringconstruction,theBuyerorhisRepresentativeallegesanydefectoromissionintheYachttheyshall,ifrequiredbytheBuilder,immediatelyspecifythesameinwriting.IftheBuilderagreesthattherehasbeenadefecttheBuilderwillatitsowncost,beforedelivery,rectifythesame.
6)ThebuildwillbesubjecttoregularinspectionsbytheBuyer.Accommodation,mealsandentertainmentinChinafortheBuyer‘sstaffthatarepaidforbythebuilder,willbeinvoicedtothebuyeratcost.Thebuyerwillcoverhisowntravelcoststoandfromtheboatyard.
7)TheBuilderundertakestoprovideasuitablyqualified(Englishspeaking)MarineEngineertoactasaliaisonpersonwiththeBuyerthroughoutthedurationofthiscontract.
8)WherepracticaltheBuildershalltakeandmakeavailabletotheBuyer,digitalphotographicevidenceofallconstruction,paintingandfitoutstagesduringtheYacht‘sbuild.SuchdigitalinformationwillbesenttotheBuyerortheBuyer’sRepresentativebyelectronicmeansandatsuchfrequencytoallowtheBuyerortheBuyer‘srepresentativetomonitorthecourseoftheYacht’sbuild.
9)Thematerials,componentsandequipmentfortheYacht(asdetailedandagreedontheComponentSupplyListinAnnexA)thataretheBuilder‘ssupplywillbeshippedtotheBoatyardbythebuilderathisexpense.ShippingcostsofItemsofBuyer’ssupplywillbeattheBuyer‘scosttogetherwithassociatedexportandimportprocedures,dutiesandinsurance.
10)TheBuilder‘spremisesshallhavethenecessaryfacilitiesandequipmenttoconstructtheYachttotheagreedstandardsandspecifications.Thefacilitiesandequipmentwillincludeshotblastingequipment,airlesssprayequipment,boltweldingcapacitor,heavydutypulseMIGweldingequipmentandenvironmentalmonitoringequipmentcapableofprovidingarecordoftemperature,humidityanddewpoint.
ARTICLEIV–MODIFICATIONS
1)AtanytimepriortoDeliveryoftheYachttheBuyerthroughtheBuyers’Representativemayrequest,inwriting,modificationsoradditionstoordeletionsfromtheDesignSpecificationsandScheduleA.
TheBuildershallnotbeobligedtoaccedetoanyrequestunderthisparagraph(1)unless:
i)ItisreasonableandpracticablefortheBuildertodosohavingregardtothestageofconstructionwhichtheYachthasreachedandtotheBuilder‘sBoatyardprogramme;
ii)ThePartiesshallfirstagreeinwritinginrelationtosuchmodifications,additions,ordeletions:
(1)AnyincreaseordecreaseintheContractPriceandvariationofthepaymenttermsfortheYacht;
(2)AnyextensionoftheContractDeliveryDate;
(3)AnyalterationofthetermsofthisContractortheDesignSpecificationorAnnexA.
ProvidedthattheBuildershallbeentitledtocontinueproductioninaccordancewiththeDesignSpecificationsandScheduleAuntilagreementhasbeenreachedasprovidedinthissub-paragraphii)。
2)TheBuildershallnotmakechangesinconstructionaldetailsormaterialsoftheYachtwithouttheagreementoftheBuyerinwriting.
ARTICLEV–PRICEANDTERMSOFPAYMENT
TheBuilderhasagreedtocompletetheconstruction,outfitanddeliveryoftheYachtfortheBuyeronthefollowingterms.
1.ThecontractpricefortheyachtwillbeUS$850,000(EighthundredandfiftythousandUSdollars)
2.PaymentofthefirmpricefortheYacht,shall,subjecttoparagraph3)hereofbemadeininstalmentsfromtheBuyertotheBuilderasfollows:
InstalmentEvent
a)InitialdepositofUS$127,500(onehundredandtwentyseventhousandfivehundred)payableonthesigninghereof.
b)UponarrivalofallstructuralbuildingmaterialsintheBoatyard,US$127,500(onehundredandtwentyseventhousandfivehundred)
c)OnsatisfactorycompletionoftheYacht‘sstructuralsteelworkUS$127,500(onehundredandtwentyseventhousandfivehundred)
d)OnsatisfactorycompletionoftheYacht‘sinteriorpaintingandinsulationstages,substantialcompletionoftheYacht’sinteriorfurniturebuiltofftheYacht,andatthestartoffitout,US$127,500(onehundredandtwentyseventhousandfivehundred)
e)OnsatisfactorycompletionoftheYacht‘sexteriorpaintingstages,US$127,500(onehundredandtwentyseventhousandfivehundred)。
f)OnsatisfactoryinstallationoftheYacht‘sengines,generatorsandmainengineroomsystems,togetherwithinstallationoftheflybridgestructure,US$127,500(onehundredandtwentyseventhousandfivehundred)。
g)OndeliveryandfinalacceptanceoftheYachtbytheBuyerUS$85,000(Eightyfivethousand)。
2)TheBuildershall,bynotlessthanfourteendaysnoticeinwriting,advisetheBuyerofthedateuponwhicheachinstalmentoftheContractPriceshallbecomepayable.
(i)SubjecttotheBuilder‘scompliancewiththenoticeprovisionsoftheforegoingparagraph,eachofthesaidinstalmentsshallbecomedueandpayableupontheappropriateInstalmentEvent,subjecttoreceiptbytheBuyeroftheBuilder’sinvoicethereof,accompaniedbya“StageCertificate”IssuedbytheBuildercertifyingthattheappropriateInstalmentEventhastakenplace.
(ii)PriortoeachInstalmentEvent,theBuildershallnotifytheBuyer,inwriting,oftheamountofanyreductionin,oradditionto,theContractPrice,inaccordancewiththetermsofthisContract.TheinstalmentdueontheforthcomingInstalmentEventshallbeadjustedtotakeaccountofanysuchamendmenttotheContractPrice.
4)TheamountofeachinstalmentoftheContractPriceshallbepaiddirecttoAAA‘sYachtCompanyLimited,A/Cnumber0842-5094atCitibankHongKong,(RoutedviaCitibankNY,ABA#021000089,A/CCitibankHK,CHIPSUID030339,SwiftCodeCITIHKHX)fortheaccountoftheBuilderwithinfourteenBankingdaysoftheduedateforpaymentandifnotsopaidshall(withoutprejudicetoanyotherrightsoftheBuilderinrespectofnon-payment)bearinterestfromtheduedateuntilpaymentatHKBaseRateplus4%.
5)IntheeventoftheBuilderissuingaStageCertificateunder(3)(i)andtheBuyerconsideringthattheBuildershouldnothaveissuedthesamebecausetheInstalmentEventshallnothavebeenreached,or,ifreached,thattheworkormaterialsexecutedorincorporatedbytheBuilderintheYachtwasnotinaccordancewiththerequirementsofthisContractorinaccordancewithgoodengineeringpracticethentheBuyermaygiveaCounterNoticespecifyingthemattersbyreasonwhereoftheBuyercontendsthattheStageCertificateshouldnothavebeenissued,andthereuponifthePartiesdonotagreethenthemattershallbereferredforresolutiontoanarbitratortobeagreedbytheParties.
ARTICLEVI–PROPERTY
1)TheYachtassheisconstructed,andallmachineryandequipmentandmaterials,whetherwhollyorpartiallyfinishedorunfinished,fromtimetotimeappropriatedorintendedfortheYachtintheBoatyardorelsewhere,shallbeandremaintheabsolutepropertyoftheBuyer(andshallbeattheriskoftheBuilder)andshallbewithintheownershipanddispositionoftheBuyer.Thebuildershall,however,havealienuponthecraft,machineryandequipmentandmaterialsforrecoveryofallsumsdueunderthetermsofthisagreementoranyvariationormodificationthereof.
2)Thebuilderwillco-operatewithandgiveallreasonableassistancetothebuyerinrelationtothemeasurementandregistrationoftheyacht.
ARTICLEVII–INSURANCE
1)DuringtheperiodofconstructionunderthisContractanduntildeliveryoftheYachtinaccordancewithArticleIX,theYachtandallmaterials,machineryandequipmentallocatedfortheconstructionthereofandallitemsofBuyer‘ssupplyactuallydeliveredtotheBuildershallbeattheriskoftheBuilder,whoshallatitsownexpensekeepthesameinsuredforasumnotlessthan110%oftheaggregatesumofthecontractpriceplusthevalueoftheitemsofBuyer’sSupplywithanapprovedinsurerorinsurersandinrespectofandagainstallordinaryyachtbuildingrisks,beingfire,storm,theft,flood,lightening,explosion,docking,undocking,launching,salvage,removalofwreck,strikes,civilcommotion,maliciousdamage,sabotageandvandalism.
2)BuyerssupplyitemswillbedeliveredtotheBuilderatXinhuiport,atwhichpointtheriskfortheitemswillpasstotheBuilder.
3)AcertificateofinsuranceshowingthatthenecessarycoverisinplaceshallbedeliveredtotheBuyerifsorequired.
4)Intheeventofanactual,constructive,compromisedorarrangedtotallossoftheYachtpriortoDeliveryofthesametotheBuyer,eithertheBuyerortheBuildershallbeentitledtoterminatethisContractbyservingupontheBuilderortheBuyer,asthecasemaybe,writtennoticeoftermination,suchnoticetobedispatchedwithinfourteendaysofthedateuponwhichtheinsurersacceptthattheYachthasbecomeanactualconstructive,compromisedorarrangedtotalloss.
5)IntheeventofanylossordamagebeingsustainedbytheYachtpriortodeliverywhichdoesnotconstituteanactual,constructive,compromisedorarrangedtotalloss,theBuildershallrepairandmakegoodthatlossordamage(hereinafterreferredtoasa‘partialloss’)atthecostoftheBuilderandwhetherornotsufficientinsurancefundsmaybeavailable.
6)Theproceedsoftheinsurancereferredtoinparagraph(1)ofthisArticleshallbedealtwithasfollows:
IftheinsuranceproceedsareinrespectofanactualorconstructiveorcompromisedorarrangedtotallossthentheyshallbeappliedfirstlyinreimbursementtotheBuyeroftheamountofallpayments,ifany,madebytheBuyertotheBuilderunderthisContractandinreimbursementofthevalueofanyitemsofBuyer‘sSupplyand,secondly,inpaymentofanybalancetotheBuilder.
7)FollowingDeliveryoftheYacht,theBuyershallacceptallriskintheYachtincludingallmaterials,machineryandequipmentthereof,andtheBuyershallatitsownexpenseberesponsibleforallinsurancerisksthereafter.
ARTICLEVIII–TESTS
1)PriortodeliveryoftheYachttotheBuyer,theBuildershallcarryoutthetestsprovidedforintheQualityDocumentation,includingbutnotlimitedto:a)Noiseandvibration
b)Hoseandpressuretests
c)MotoringtrialswithintheconfinesoftheWestRiver.
2)TheBuildershallgivetheBuyerreasonablewrittennoticeofthetimeandplaceatwhicheachofthetestsistobecarriedout.
ARTICLEIX–DELIVERY
1)TheYachtshallbedeliveredtotheBuyerbytheBuilderatamutuallyagreedplaceinHongKongHarbouronorbeforetheContractDeliveryDate,orasthesaidContractDeliveryDatesmayhavebeenextendedinaccordancewiththeprovisionsofArticlesIIIorIV.
2)ProvidedthatallinstalmentsandothersumsassetoutandcontainedinArticleVarefullypaidthentheDeliveryoftheYachtshallbeeffectedforthwithbytheconcurrentsignaturebytheBuyerandtheBuilderofaCertificateofDeliveryandAcceptanceacknowledgingDeliveryoftheYachtbytheBuilderandacceptancethereofbytheBuyerprovidedthatthesignaturethereofbytheBuyershallnotoperateasawaiverofanyrightswhichtheBuyermightotherwisehaveinrespectoftheYacht.3)Upondelivery,theriskintheYachtdeliveredshallpasstotheBuyer,itbeingexpresslyunderstoodthat,untilDeliveryiseffected,theYachtandtheirequipmentareattheentireriskoftheBuilder.
4)TheBuyershalltakepossessionoftheYachtimmediatelyuponDelivery.
5)IftheBuilderisunabletotendertheYachtforDeliverywithinsixtydays(‘thePeriodofGrace’)oftheContractDeliveryDate,theBuildershallpaytotheBuyerasagreedandliquidateddamagesthesumofUS$100foreachdaytheYachtisnotsotenderedforthefirstthirtydayperiodofdelayaftertheperiodofgrace,thenUS$250foreachsubsequentdaytheYachtisnotsotenderedanduntilsatisfactorydeliveryismade.
6)IfanyitemsontheYachtareincompletewhenthatYachtisotherwisereadyfordeliveryandtheBuyerandtheBuilderagreethatsuchitemsdonotmateriallyaffecttheoperationoftheYachtnorarelikelytocausedamageordeterioration,thentheBuyerwillnotunreasonablywithholditsconsenttotakeDeliveryoftheYachtsubjecttotherightoftheBuyertohavesuchitemscompletedinamannertobemutuallyagreeduponinwritingbetweentheBuilderandtheBuyerandatthecostoftheBuilder.
ARTICLEX–DEFAULTOFTHEBUILDER
1)TheBuildershallbeindefaultandthisContractmaybeterminatedbytheBuyerbynoticeinwritingtotheBuilderifatanytimebeforeDeliveryofeitherYacht:a)TheBuilderwithoutjustcauserefusestoproceedwiththeconstructionoftheYacht;
b)AnorderismadeoraneffectiveresolutionispassedforthewindingupoftheBuilderorareceiveroradministratorisappointedofthewholeoranypartoftheundertakingoftheBuilderor;
c)TheBuyerisentitledtorejecttheyachtunderArticleIIISubPara5andifthebuilderdoesnotrectifythedefectoromissioninareasonabletime.
d)ItshallbecomeapparentduringtheperiodallowedforconstructionoftheYachtthattheBuildershallbetwomonthsinarrearsinrelationtotheCriticalBuildChart(sucharrearsnotbeinginrespectofForceMajeure)inrespectoftheYacht.
2)IntheeventoftheBuyerterminatingthisContractinaccordancewithparagraph(1)ofthisArticle,theBuyershallbeentitledtotakepossessionoftheYachtinitsunfinishedstateandcompletethesame,orhavethesamecompleted,elsewhereatamutuallyagreedcost.ThecostsincurredbytheBuyerincompletingtheYachtincludingallcostsoftransportationandinsuranceshallbedeductedfromtheremaininginstalmentsoftheContractPrice.IfthesaidcostsshallexceedtheamountoftheremaininginstalmentsoftheContractPrice,theBuildershallpaythedifferencetotheBuyer.
3)UpontheBuyertakingpossessionoftheYacht,intermsoftheforegoingparagraph(a)thepropertyandriskintheYachtandallitsmaterials,machinery,apparatus,outfitandequipmentshallpasstotheBuyer,and(b)saveasprovidedinparagraph(2)alltheobligations,dutiesandliabilitiesofeachofthepartiestotheother,underthisContract,shallforthwithbecompletelydischarged.
4)WhenanysumispayablebytheBuildertotheBuyerbywayofliquidateddamagespursuanttotheprovisionsofthisContract,paymentshallbemadewithinfourteendaysofDelivery(andnotdeductedfromsumsduetotheBuilderonDelivery)andshallbeinfullandfinalsatisfactionofallclaimsonbehalfoftheBuyerinrespectofthematterswhichgaverisetothepayment,withoutprejudice,however,toanyotherclaimoftheBuyerinrespectofmattersotherthandelay.
5)NoticeofterminationbytheBuyershallbegiveninwritingandshallbeeffectivefourteendaysafterreceiptbytheBuilderunlesstheBuildershallhavethenremediedthedefault.
ARTICLEXII–DEFAULTOFTHEBUYER
(1)TheBuyershallbeindefaultandthisContractmay,atthediscretionoftheBuilder,besuspendedinwholeorinpart,orterminated,bytheBuilder,bynoticeinwritingtotheBuyer,if:
(a)TheBuyerfailstopayanyinstalmentoftheContractPricewithinsevenbankingdaysofitsbecomingdueandpayableinaccordancewithArticleV;or
(b)TheBuyer,withoutduecause,failstoaccepttheYachtandpayallsumsdueonDeliverywithinsevendaysoftheYachtbeingtenderedforDeliveryinaccordancewiththisContract.
(c)Thebuyerfailstosupplythematerials,componentsandequipmentinaccordancewiththiscontractthebuyerhavingbeennotifiedinwritingbythebuilderofthematerial,componentsorequipmentwhichthebuyerhasfailedtosupplytothebuilderand
B)Thebuyerhavingfailedtomakesuchsupplywithinseven(7)daysofreceiptofsuchnoticeand
Suchfailuretosupplyordelaycausesthebuilderactualdirectdelayoradditionalcost.
(2)IftheBuildersuspendstheContract,theperiodofsuspensionshallendureuntil:
(a)TheBuyerhasremediedthedefault;or
(b)NoticeofterminationoftheContractisgivenbytheBuildertotheBuyer;or
(c)TheBuilderotherwiseintimatestotheBuyerthatworkundertheContractistoberesumed.
3)NoticeofterminationbytheBuilderunderthisArticleshallbegivenbyfaxandconfirmedinwritingandshallbeeffectivesevendaysafterreceiptthereofbytheBuyer,whereupontheBuildershall(unlesstheBuyershallhavethenremediedthedefault)beentitledtoexercisetherightsprovidedforinparagraph(5)。4)TheBuildershallbeentitledtoterminatethisContractforthwith,bynoticegivenbyfaxandconfirmedinwriting,uponanorderbeingmadeoraneffectiveresolutionbeingpassedforthewindingupoftheBuyer(otherthanamembers‘voluntarywindingupforthepurposeofamalgamationorreconstruction)orareceiveroradministratorbeingappointedofthewholeorpartoftheundertakingoftheBuyer.
5)IftheBuildershallterminatethisContractunderthisArticletheBuildershallbeentitled(inadditiontointerestasprovidedinArticleV(4))totheprovedlossresultingfromtheBuyer‘sdefault.TheBuildershallselltheYachtbypublicauction,ortender,orprivatesale,atitsdiscretion,andshallapplytheproceedsofsale(afterdeductingtheexpensesofsaleincludingthecostofcompletingtheYachtforsale)togetherwithanyinstalmentsoftheContractPricepaidunderArticleVasfollows:
i)InsatisfactionofthebalanceduetotheBuilderunderthisContract;and
ii)Inmakingoverthebalance,ifany,totheBuyer.ARTICLEXII–GUARANTEE
1)TheBuilderguaranteestheYachtandallpartsandequipmentthereofmanufacturedorfurnishedorsuppliedbytheBuilderortheBuilder‘ssupplierorsubcontractorunderthisContract(includinginstallationbytheBuilderofitemsofBuyer’ssupply)againstalldefectswhichareduetofaultyworkmanship,foraperiodoftwelvemonthsfromtheDateofDeliveryoftheYachttotheBuyer(‘theGuaranteePeriod’)。Suchguaranteewillnotsubsist,totheextentthedefectdirectlyresultsfromaprocedurespecifiedorapprovedbythebuyerandnotfaultyworkmanship.Theguaranteeprovidedinthisparagraph(‘theBuilder’sGuarantee‘)issubjecttotheprovisionsofthisArticle.
2)TheBuyeroritsRepresentativeshallnotifytheBuilderinwriting,within30daysafterdiscoveryofanydefectforwhichaclaimismadeundertheBuilder‘sguarantee.TheBuyer’swrittennoticeshallsofaraspossibleincludefulldetailsastothenatureofthedefectandtheextentofthedamagecausedthereby.
3)TheBuildershallhavenoobligationundertheBuilder‘sGuaranteeforanydefectsdiscoveredpriortothedateofexpiryoftheGuaranteePeriodunlesstheBuilderreceivesnoticeofsuchdefectsnotlaterthanthirtydaysaftersuchdateofexpiry.TheBuilderhasnoobligationinrespectofdefectsdiscoveredafterthedateofexpiryoftheGuaranteePeriod.
4)TheBuilder‘sGuaranteeshallbelimitedtoremedyingatitsexpense(includinganyattributabledry-dockingcharges)anydefectagainstwhichtheYachtoranypartorequipmentthereofisguaranteedhereunderbymakingallnecessaryrepairsandreplacementsintheBoatyardprovidedthatiftheYachtcannotconvenientlybebroughttotheBoatyardtheBuildershallpaytotheBuyerasfullandfinalcompensationtheequivalentinUnitedStatesdollarsoftheamountthattheBuilderwouldchargetheBuyeronanarm’slengthbasis(includinganyattributabledry-dockingcharges)ifthedefectshadbeenmadegoodattheBoatyard,ortheactualcostofrepair,whicheveristhelower.
ARTICLEXIII–PATENTS,TRADEMARKS,COPYRIGHTS
AlldocumentationanddrawingsprovidedbytheBuyerfortheBuildershallremainthecopyrightoftheBuyer.HoweverforhisownuseinrespectofandforthedurationofthisContractonly,theBuilderhasthepermissionoftheBuyertocopyrelevantdocumentationanddrawings.
ARTICLEXIV–LAW
ThisContractshallbeconstruedandinterpretedinaccordancewiththelawsofHongKongandthePartiesherebysubmittotheexclusivejurisdictionoftheCourtsoftheHongKongSpecialEconomicRegionofthePeoplesRepublicofChina.
ARTICLEXV–ASSIGNMENT
NeitherofthePartiesheretoshallbeentitledtoassignortransferorsubcontractanyofitsrightsordutieshereunderwithoutthepriorwrittenconsentoftheother,providedthatthisArticleshallnotoperatetopreventtheBuildersubcontractingthework.
ARTICLEXVI–COMMUNICATIONS
UnlessexpresslyprovidedotherwiseinthisContract,allnoticesandcommunicationsrequiredtobegivenhereundershallbeinwriting(whichexpressionincludesfacsimilemessagesandemailmessages)andshallbeaddressedtotheBuyerat:HoChiMinhCity,Vietnam,Tel:_______,fax:_______,emailKKK,andtotheBuilderat:,Kowloon,HongKong,Tel:_______,Fax:_______,email:KKK.Eachpartyshallbearallthecostsofitsowncommunications.
ARTICLEXVII–WAIVER
Anywaiver,orneglect,orforbearancebyeitherPartytorequireorenforceanyoftheprovisionsofthisContract,atanytime,shallnotprejudiceoraffectanyrightofthatpartyafterwardstoactstrictlyinaccordancewiththeprovisionshereincontained.
ARTICLEXVIII–ENTIRECONTRACT
ThisContractconstitutestheentireagreementbetweentheBuilderandtheBuyerinrelationtotheconstructionandpurchaseoftheYachtandneitherPartyplacesanyreliancewhatsoeveronanyrepresentations,statementsorunderstandings,whetheroralorinwriting,madepriortothedateofexecutionofthisContract,otherthanthoserepresentations,agreements,statementsandunderstandingsexpresslyincorporatedinthisContract.
ARTICLEXIX–DESIGN
TheBuyeracceptsthattheYacht,asconstructedbytheBuilderaccordingtotheDesignSpecifications,willbefitforthepurposeintendedbytheBuyer.
INWITNESSWHEREOFthePartiesheretohavesubscribedthisContractbytheirrepresentativesdulyauthorisedinthatbehalf,
______________________。
forAAA‘SYACHTCOMPANY(SignatureandDate)
______________________。
WITNESS(PrintName,AddressandDate)
WITNESS(SignatureandDate)
______________________。
Mr.BBBCC
______________________。
WITNESS(PrintName,AddressandDate)
______________________。
WITNESS(SignatureandDate)
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