Document:

fs1a2ex10xxix_keyuan.htm

Exhibit 10.29

 

Sales and Purchase Contract

(English Translation)

                                            Contract No. ____________

                                                        Date of signing: ______

                                                           Place of signing: ______

The Buyer:                      Ningbo Keyuan Plastics Co., Ltd.

The Seller:                      Ningbo Litong Petrochemicals Co., Ltd.

According to the Law of Contract of the PRC and relative laws and regulations, on the basis of mutual benefits and sincere cooperation, after discussions, both parties agree on this contract.

	
1.  

	
Subject matter (the product as being referred below), delivery time and quantity

	
Commodity

	
Sepc

	
quantity

	
Delivery time and quantity

	  	  	  	  
	  	  

	
2.  

	
Quality standards:  see attached technical specifications.

	
3.  

	
Terms of Price (Price including VAT): ______________.

	
4.  

	
Payment for goods and terms: The principle is payment upon delivery. The Buyer will make the whole payment within 5 working days upon receiving the VAT invoice in full amount issued by the seller, which has been confirmed by both parties as correct. Specific steps of payment will be discussed and settled by both parties.

	
5.  

	
Delivery of products (The Buyer takes over the goods according to bill of lading by the seller):

	
(1)  

	
Place of delivery: warehouse of the buyer or designated warehouse by the buyer.

	
6.  

	
Relative cargo transportation fee is for to bear.

	
7.  

	
Measurement and its standards:

(1) Quantity for settling accounts: use the buyer’s oil depot or shore tank at oil depot designated by the buyer as what the handover relies on. Meantime data on bill of loading by the seller will be used as a reference. In case the loss between the two is within 2‰ the buyer will bear it; if over 2‰, the seller will bear the part beyond it.

(2) Quality: before delivery is made, the seller will provide a certificate of quality for its goods leaving the factory with both parties keeping a sample in the same time. Inspection and acceptance will be done according to Item 2 of the contract. In case the buyer has a dispute about the quality of goods, it should raise the matter to the seller in writing within 15 days upon delivery. Sample test report issued by a third testing organization (SGS) will be taken as final tested results.

	
8.

	
Property and risks: Risks and transfer of property take the place where the goods are put into oil depot as a border. Once the goods pass this point they finish transferring from the seller to A.

 

	
9.

	
Terms of secrecy: Both parties are responsible for keeping business secrets of either side while implementing the contract, which include but is not limited to contracts, documents, materials, data etc provided by either party, or information that may help either gain a better position in competition. Neither party should reveal any commercial secret of the other to any third party or make ill-use of it except for what the other party has agreed in writing or laws have stipulated. The terms of secrecy of the contract remain valid regardless whether the contract is altered, discharged or terminated.

 

 

  

  

  

 

 

	
10.

	Terms of guarantee:

 

    (1)                Guarantee from the seller:

(1.1) the quality of the heavy oil to sell is in accordance with the spec in the attachment.

(1.2) The Seller has authorized its representative to sign the contract. Once effective the contract is law abiding to the seller.

(2)                Guarantee from The buyer:

(2.1) The Buyer’s setup followed legal procedure (with natural persons), the buyer remains valid in existence with all relative papers.

(2.2) The Buyer will fulfill its obligations in the contract, will not violate any regulations in its business license, setting-up agreement, articles of corporation, and similar organization documents, and will not violate any relative laws and regulations or authorized rights or approvals by any departments of government.

(2.3) The Seller is responsible for the operation qualification and validity of the transportation company for dangerous chemical cargo.

(2.4) The Buyer has authorized its representative to sign the contract. Once effective the contract is law abiding to the buyer.

	
11.

	
Health, safety and environment protection: Both parties should insure that the requirements in the laws and regulations concerning safety, environment protection and health during sales, transportation, storage, processing, and utilizing should be practiced and fulfilled.

12.        Contract’s alteration and termination:

(1) The contract can be altered or terminated with an agreement by both parties in writing.

(2) In case one party’s breach causes that the contract is unable to implement partially or fully, the other party has the right to partly or fully terminate the contract. And the one with breach will bear the results of its breaches. The party who will terminate the contract is responsible to notify the other party.

13.        Terms of exemption:

(1) Due to force majeure, in case of natural disasters like fires, earthquakes, typhoons, floods etc, or other unforeseeable and inevitable and insurmountable events, or government actions, which make the contract cease partly or totally, the party or parties that have been affected by the force majeure will not be responsible for the breaches, but should do his/their upmost to minimize the damage to implementing the contract.

14.        Responsibility for breach

(1) In case force majeure or other special reasons cause the seller unable to fulfill the contract, the seller should give a timely notice to The buyer. If not, the seller is responsible for the expenses Party spends on preventing expanded losses.

(2) In case the quality of the goods by the seller is below the spec required, the buyer has the right to ask for a lower price or compensation. The Buyer will be responsible for ill-storage and ill-operation.

(3) In case other kinds of breaches occur, the breaching party should compensate the other party for its losses. If both parties breach the contract, each should bear its own responsibility.

 

 

  

  

  

 

15.        Disputes settlement:

In case a dispute occurs, both parties will discuss and negotiate for a solution. If they fail, the dispute can be referred to local People’s Court which is in the place where The buyer is located.

16.        Validity and other things:

(1) The contract comes into effect as of the date of signing and chopping by both parties. It’s valid from ______ till _______.

(2) Things yet to cover will be discussed and agreed as an attachment to the contract which is part of the contract with the same legal effect. In case an attachment differs from the contract, the attachment will be overwhelming.

(3) This contract has two copies, one for each party. And fax copies are good as well.

	
The Buyer (chopping)

	
The Seller (chopping)

	
Ningbo Keyuan Plastics Co., Ltd.

	
Ningbo Litong Petrochemical Co., Ltd.

	  	  
	
Add: Qingshi Chemical Zone, Ningbo Economic

	
Add:

	
and Technological Development Zone

	
 

	
Postal Code: 315803

	
Postal Code:

	
Authorized Rep:

	
Authorized Rep:

	  	  
	
Tel:                              Fax:

	
Tel:                              Fax:

	
Name of Bank:

	
Name of Bank:

	
Account No.:

	
Account No.:fs1a2ex10xxx_keyuan.htm

 

Exhibit 10.30

Sales and Purchases Contract

(English Translation)

 

	The Seller:  Wenzhou Zhongyou Fuel Chemical Co., Ltd.   	Contract No. ______
	The Buyer:  Ningbo Keyuan Plastics Co., Ltd.	Place of signing: ______
	 	Date: _______

 

 

	
1.  

	
Name of commodity, trade mark, model, quantity, sum, time of delivery

	
Commodity

	
Trade mark

	
Unit

	
Quantity

	
Unit price

	
Total sum

	
Time of delivery

	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  

	
2.  

	
Payment terms:

	
3.  

	
Quality requirements, technical standards, condition and period guaranteed for the quality by the seller: this product is material for 2nd processing, which cannot be used directly and the outcome of direct using will be borne by the buyer automatically. Both parties will be present at the scene for sample seal-up for safekeeping. In case a dispute arises on the quality, the sample will be examined as a standard of judging the quality. In case the buyer does not ask for sample seal-up, it means the buyer gives it up himself. If a later dispute occurs concerning the quality, the buyer will be responsible for any possible consequence.

	
4.  

	
Place and terms of delivery: at ___________ The buyer picks up the goods and is in charge of the transportation. After delivery of goods all the risks of goods damage will be borne by the buyer.

 

 

	
5.  

	
Terms of transportation and port of arrival and fees: The buyer will bear shipping, shipping fees, pier related fees and cargo insurance fee. If safety or environment problems occur after the ship is berthed, the seller is not responsible. The buyer should ensure that the ships are legally qualified to load and store this product with national equipment safety, quantity and quality standards in concern being fully met.

	
6.  

	
Reasonable loss and calculation: Both parties sum the payment on the basis of shore tank measurements. The buyer, no matter picking-up the goods himself or via an agent, should check seriously the measurement of shore tank. After both parties – including the carrier entrusted by the buyer -have confirmed the measurement, no other dissent over measurement will be accepted. In case the carrier authorized by the buyer does not agree with the measurement and asks the seller to follow the measurement of an actual survey, any extra expenses caused will be borne by the buyer.

 

 

  

  

  

 

	
7.  

	
Packaging standards supply and reclaim of packaging material: In bulk.

 

	
  8.

	
Measurement and inspection with acceptance: The buyer will send his staff to the scene of inspection. The measurement operation will be done by the seller under the surveillance of the buyer or his agent. Any question concerning the quality or measurement should be raised prior to the ship’s leaving the pier of the seller. Otherwise, it will be considered null and void.

	
  9. 

	
Terms of payment and time-limit: payment will be done according to actual goods delivered with shore tank measurement with previous payment deducted accordingly, and balances to be made by both parties. The seller will provide a VAT invoice for the whole amount of payment.

	
10.

	
Terms of secrecy: Unless permitted by the seller in written form, the buyer should not reveal to any third party any secret information he gets from the seller, or make use of it, which includes but is not limited to commercial secrecy, technological secrecy, market secrecy, financial secrecy, management secrecy or other kinds of secrecy.

 

The buyer should urge his staff not to reveal to any other party the information of the seller and not to make use of it. The buyer promises to make sure that his staff strictly confines the secret information provided by the seller to the scope and purpose of the contract. And without a written agreement by the seller, no secret information should be used for purposes out of the contract or revealed to other companies and individuals not in the contract.

 

	
11.  

	
Responsibility for breach of the contract:

(1) In case the buyer delays the payment of goods or delays picking-up, which either is breach of the contract, the seller has the right to terminate the contract and to get a fine of 5% of contract value from the buyer.

(2) In case the product delivered by the seller is not in accordance with the contract, both parties will discuss about the matter for a solution.

(3) In case other breaches occur, the party that violates the contract should compensate the loss caused to the other party. If both sides make an error, each should be responsible for his own.

	
12.  

	
Force majeure:

(1) Due to force majeure, in case of natural disasters like fires, earthquakes, typhoons, floods etc, or other unforeseeable and inevitable and insurmountable events, which make the contract cease partly or totally, the party or parties that have been affected by the force majeure will not be responsible for breaches, but should notify the other party within 48 hours upon the occurrence of the force majeure, and provide a valid document of proof to the other party within 3 days.

(2) The party or parties influenced by force majeure should do his/their upmost to minimize the damage to implementing the contract.

	
13.  

	
Dispute settlement:

In case a dispute occurs over the contract, both parties will discuss and negotiate. When a negotiation fails, the case will be brought to People’s Court where the seller is registered.

 

 

 

 

 

 

	
14.  

	
Validity and others:

(1) This contract has two copies of the same version, with one for each party. They become effective upon chopping regardless of whether a duplicated or fax copy.

(2) A supplementary agreement may attach to the contract for further coverage.

(3) As a supplementary or attached agreement to the contract, it has the same legal right as the contract. In case the contents of an attached document are not in accordance with the contract, the contract overwhelms the attachment. In case a supplementary document is not in accordance with the contract, the supplementary document overwhelms the contract.

 

	 The Seller (chopping) 	 The Buyer (chopping)
	 Wenzhou Zhongyou Fuel Chemical Co., Ltd.	 Ningbo Keyuan Plastic Co., Ltd.
	 	 
	 Add: Dongtou County, Zhejiang	 
	 Authorized Rep: (signature)     	 Authorized Rep: (signature)
	 Tel: 0577-89971188   	 Tel: 0574-86232942
	 Fax: 0577-89971188  	 Fax: 0574-86234706

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