Document:

Purchase Contract

	  	
Contract No. IJCS-20101118-1

	  	
Place of Signing: Changxing , Zhejiang

Party A (Buyer): Changxing Chisen Electric Co., Ltd.

Party B (Supplier): Zhejiang Chisen Glass Co., Ltd.

After friendly consultation, the both Parties agree to come into and strictly abide by this Contract on components purchase.

	
1.

	
Party B shall provide Party A with the following products:

	
Product Name

	  	
Specification

	  	
Unit

	  	
Quantity

	  	
Unit Price

(17% tax

included)

	  	
Total

amount

	  	
Delivery

date

	
AGM Separate Plates

	
  

	
According to the orders

	
  

	
Kg

	
  

	
According to the orders

	
  

	
23.5 RMB/Kg

	
  

	  	
  

	
According to the orders

	
2.  

	
Quality Warranty

	
  

	
Party B shall provide Party A with the products in compliance with Party A's quality and technical requirement.

	
3.  

	
Delivery

	
   

	

Party B shall deliver the products to site appointed by Party A and bear the expenses arising therefrom.

	
4.

	
Acceptance Standard and Method

Party A shall inspect the goods in compliance with Party A’s technical standards and quality requirements. In case of any quantity or quality discrepancy, Party A is entitled to reject the goods and deduct the relevant amount for the defected goods accordingly.

5. Payment Terms

	
(1)

	
Party B shall deliver the products to Party A’s warehouse before the 25th day of the ordering month.

	
a)

	
Party A shall issue qualified goods inspection voucher to Party B;

	
b)

	
Party A shall issue warehouse voucher to Party B.

	
c)

	
Party A shall sign in acknowledgement of receipt for actual quantity received.

	
d)

	
VAT invoice with tax rate of 17% for products according to specification, quantity and amount listed in items a) b) c).

 

  

  

 

2) After Party A receiving the materials listed in Item (1) and Party A shall pay relevant amount to Party B between the 20th day and 25th day in the 4th month after recording the invoice of item (1) d) in Party A’s account. The same method should be applied to the payment terms of purchasing goods from the 25th day of this month to the 25th day of next month.

3) If Party B fails to deliver the (1) items to Party A before the 25th day of the ordering month, the payment should be delayed one month accordingly.

6. Breach Liabilities

Both Parties should strictly comply with the contract. Due to either party’s fault, if breaching the Contract, that party shall undertake the breach liability according to “The Contract Law of the People’s Republic of China”.

	
1)

	
If Party A failed to supply or short of supply to a large extent, Party A is not only entitled to terminate the contract, but also could indemnify Party B 2% of the aggregate amount of payment if caused impact on Party A’s production.

	
2)

	
Party A shall strictly comply with the technical standards and quality requirements, if Party A returned the goods due to serious quality problems, (goods is allowed to be returned only once), if the goods were returned twice, Party B should pay penalty of 1% of the total amount. If over 3 times, the penalty will be 2% of the total amount, and so forth. If the goods returned over 3 times in one month, Party A is entitled to come up with corrective measures, disqualify suppliers or reevaluate suppliers’ qualification. Damages will be directly deducted from Party B’s payment for goods or paid off by Party B in one week once the damages occurred.

	
3)

	
Due to the quality and quantity problem from Party B, which caused loss on Party A during the production and sale process, Party B shall take the full responsibility.

7. Dispute Settlement

Any dispute shall be solved through negotiation. If no settlement can be reached, the case in dispute shall be subjected to local People’s Court at the signing place of this Contract.

8. Miscellaneous

	
(1)

	
If Party A have any modifications on product specifications, Party A should notify Party B immediately in order to do adjustment to its safe storage. Party A shall periodically adjust products price in accordance with the raw material price fluctuation. If special circumstances exist, both parties should negotiate.

	
(2)

	
Party A is permitted to detain RMB100,000 as guarantee for the contract performance .

	
(3)

	
If either Party wants to terminate the Contract, the Contract may be terminated by that Party by giving notice in written form 60 days in advance. Party A should pay off all the bills to Party B in 180 days.

  

  

 

	
9.

	
The Contract is made in duplicate, with each Party holding one original, and shall come into effect after being signed and sealed by the Parties. Fax is also effective.

	  	
Party A: Changxing Chisen Electric Co., Ltd. (seal)

	  	
Signature:

	  	
Date: December 20, 2010

	  	  
	  	
Party B: Zhejiang Chisen Glass Co., Ltd.

	  	
Signature:

	  	
Date: December 20, 2010Purchases and Sales Contract

Party A: Changxing Chisen Electric Co.,Ltd ( hereinafter referred as to "Chisen" )

 

Party B: Zhejiang Changxing Ruilang Electronic Company Limited (hereinafter referred as to“Ruilang Electronic”)

 

Contract No.: ZJCS20101118-2

 

Place: Changxing, Zhejiang Province

 

This contract hereby is for the occasion that Chisen purchases plastic cases from Ruilang Electronic. Both parties should abide by the contract

 

1. Products Name, Specification, Number and Price

	
Products

Name

	  	
Specification

	  	
Unit

	  	
Number

	  	
Unit Price

	  	
Total

Amount

	  	
Delivery 

Time

	
plastic case

	  	
6-10AH

	  	
set

	  	
see purchasing order

	  	
see attached

	  	  	  	
see purchasing order

	
plastic case

	  	
6-12AH

	  	
set

	  	
see purchasing order

	  	
see attached

	  	  	  	
see purchasing order

	
plastic case

	  	
6-12AH blue

	  	
set

	  	
see purchasing order

	  	
see attached

	  	  	  	
see purchasing order

	
plastic case

	
  

	
6-20AH

	
  

	
set

	
  

	
see purchasing order

	
  

	
see attached

	
  

	  	
  

	
see purchasing order

	
Total Amount

	 	 	 	 	 	 	 	 	 	 	 	 

 

  

  

 

Note: If Chisen purchases plastic cases in special specifications, both parties should negotiate about the price, meanwhile, abide by other items in this contract.

2. Quality:  Plastic cases offered by Ruilang Electronic should meet the quality standards and inspection process of Chisen. (see attached)

3. Delivery Place and Transportation Fee: Ruilang Electronic should deliver the products to the scheduled location and the fee is on Ruilang Electronic's account.

4. Deal about the Stock of Ruilang Electronic: Chisen should place orders in the circumstance that Ruilang Electronic maintains () safety stock. (Ruilang Electronic should guarantee that the safety stock should always be maintained. Once the products are delivered, Ruilang Electronic should fill with the products immediately till it exceeds safety stock.) If Ruilang Electronic cannot maintain safety stock in special occations, Chisen should be immediately notified to adjust its schedule.

5. Inspection and Acceptance: Chisen inspects all products according to its standards and procedures. After inspection, if qualified, Chisen gives qualified inspection sheet and warehouse warrant. Otherwise, Chisen could return products to Ruilang Electronic and deducts the payment accordingly.

6. Payments:

(1) Ruilang Electronic should deliver the following items to Chisen's warehouse before 25th of the ordering month.

j Inspection sheet given by Chisen

‚ Warehouse warrant given by Chisen

ƒ Delivery sheet confirmed by Chisen's warehouse

  

  

 

4 VAT invoice with tax rate of 17% for products according to specification, quantity and amount listed in thej‚ƒ.

(2) After receiving items mentioned in (1)and recording the invoice in Chisen’s account, Chisen should pay according to 4invoice from the 10th day to 15th day four months after receiving the invoice.

(3) If Ruilang Electronic fails to deliver the (1) items to Chisen's warehouse before  the 25th day of the ordering month, the payment should be delayed one month accordingly.

7. Liabilities for Breach of Contract:

(1) If Ruilang Electronic delays over 5 days in delivery, Chisen has the right to end the contract; and Ruilang Electronic should undertake the loss caused by its delay.

(2) If Ruilang Electronic's products fail to meet the quality standards of Chisen, Chisen could return products to Ruilang Electronic and deducts the payments accordingly. If the return is over twice in one month (the 25th day of this month to the same day next month), Ruilang Electronic should pay penalty of 1% of the total amount. If over 3 times, the penalty will be 2%, and so forth. The penalty could be deducted directly from the payments and should be paid off within one week.

(3) . If the return is over 3 times in one month (the 25th day of this month to the same day next month), Chisen has the right to raise modification, has the right to end the contract and reevaluate Ruilang Electronic’s qulification as supplier.

(4) Ruilang Electronic should undertake loss caused by its quality problems during Chisen's production and marketing.

8. Dispute Settlement

Any dispute shall be solved through negotiation. If no settlement can be reached, the case in dispute shall be subjected to local People’s Court.

9.Others

(1) If Chisen does any modification to product specifications, Ruilang Electronic should be immediately notified in order to do adjustment to its safety storage.

  

  

 

(2) If there is any change in raw material price, Chisen should do adjustment to unit price regularly. If there is any special occasion, both parties should negotiate.

(3) Chisen is permitted to detain RMB100,000 as guarantee fund.

(4) In addition to the agreed, any party wants to end the contract; a written notice should be forwarded 60 days in advance. Chisen should pay all bills within 180 days after ending cooperation.

10: This contract is done in duplicate, each party keeping one original and having the equal legal effect on signature of both parties. The attachments are effective as parts of the contract, fax copies effective too.

	
Party A

Name:Changxing Chisen Electric Co.,Ltd

ADD:

Legal Person:

Consignor:

TELL:

Signature(Stamp):

Date:

	
Party A

Name:Zhejiang Changxing Ruilang Electronic Company Limited

ADD:

Legal Person:

Consignor:

TELL:

Signature(Stamp):

Date:

Note:This contract is effective from October 18 2010 to October 18 2011.

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