Document:

Yayi International Inc.: Exhibit 10.2 - Filed by newsfilecorp.com

Exhibit 10.2

Purchase Agreement

(English Translation)

Buyer: Tianjin Yayi Industrial CO., Ltd. (Party A)     . 

Address: NO.9,Xingguang Road,Northern, Industrial Park of Zhongbei Town, Xiqing
District                      

Tel.:022-27984639                      

Fax:022-27984639                      

 

Seller: Tianjin Jinhongji Import & Export Trading Co., Ltd. (Party B) 

Address: Room 3022,No.72 Munan Road, Heping District, Tianjin 

Tel: 022-23392115 

Fax: 022-23309886 

 

The Parties have reached the following agreement through friendly discussion regarding the purchase of laboratory instruments of Agilent Technologies Co., Ltd. 

1. 

Equipment list and price 

	
Name
		
Amount
		
Price (RMB)
		
Sub-total (RMB)
	
	
laboratory instruments
		
3
		
625,000.00
		
625,000.00
	
	
See Annex 1 for the
		
 
		
 
		
 
	
	
list details
		
 
		
 
		
 
	
	
See Annex 2 for the
		
 
		
 
		
 
	
	
After sales service
		
 
		
 
		
 
	
	
agreement
		
 
		
 
		
 
	
	
 
RMB Six Hundred and Five Thousand (tax included)
		
 
		
 
	

The contract price is the delivery price of Party A’s designated place.

	
2. 		
Terms of the Agreement

	
	 	 	 
		
2.1 		
Quality assurance of the goods: Party B shall ensure that commodities provided are all brand new, and the quality and specifications meet the relevant requirements. If the commodities are not usable, Party B shall offer
replacement free of charge. Party B shall complement the missing goods within the period allowed by Party A and bear all associated costs.

	
	 	 	 
		
2.2 		
Commodities’ delivery place: the place designated by Party A, while Party B shall be responsible for the delivery fees.

	
	 	 	 
		
2.3 		
Commodities’ delivery time: Party B shall deliver the commodities within 120 days after receiving the first advance payment of Party A.

	
	 	 	 
		
2.4 		
Packaging and packaging standards: the original packaging provided by the Agilent Technologies Co., Ltd.

	

		
2.5 		
Acceptance criteria, methods and period of objections: the acceptance shall be made complied with the technical specifications within 15 days after the commodities’ arrival, installation and trial.

	
	 	 	 	 
		
2.6 		
Mandatory spare parts, quantity of tools and supply method: bee provided according to the original configurations. (see details in the annex)

	
	 	 	 	 
		
2.7 		
Agilent Technologies Co., Ltd. shall be responsible for the installation, trial and after-sales service combined with Party B. If Agilent Technologies Co., Ltd. fails to provide after sales service according to Annex 2 of this
agreement and causes any losses for Party A, Party B shall be liable for the losses.

	
	 	 	 	 
	
3. 		
Payment and settlement

	
	 	 	 	 
		
3.1 		
Total value of the agreement is RMB Six Hundred and Five Thousand.

	
	 	 	 	 
		
3.2 		
Payment

	
	 	 	 	 
			
A. 		
Party A shall pay Party B RMB 500,000 (Five Hundred Thousand) through bank transfer, which accounts for 80% of the total contract value within 7 days after the signing of this agreement.

	
	 	 	 	 
			
B. 		
Party A shall pay Party B RMB 93,750 (Ninety-three Thousand Seven Hundred and Fifty) which accounts for 15% of the total contract value within 7 days after receiving the delivery note from Party B.

	
	 	 	 	 
			
C. 		
Party A shall pay Party B RMB 31,250 (Thirty-one Thousand Two Hundred and Fifty) which accounts for 5% of the total contract value within 30 days after receiving the instruments.  If untimely installation and acceptance are caused by Party A, acceptance and warranty period shall start from 2 months after the shipment; if
acceptance is made timely, inspection, then warranty period shall start from the date installation is qualified and accepted by the both parties and Agilent Technologies Co., Ltd.  Party B shall issue invoice within 20 days after receiving full
payment by Party A. 

	
	 	 	
 	
 
	4.	Liability for breach of contract 
	 	 
	 	Any failure to provide the funds or equipments timely by both parties shall be regarded as breach of the agreement. The party in breach shall pay the other party 0.1% of the total contract value for each day delayed.  The non-breaching party is
entitled to terminate this Agreement. 

	
 	
 
	
5. 		
Statement

	
	 	 	 
	 	5.1	All disputes arising from this agreement shall be governed by the laws of PRC.
	 	 	 
		
5.2 		
All disputes shall be settled through amicable negotiations. Should, through negotiations, no settlement be reached, the dispute shall then be submitted to the local court.

	
	 	 	 
		
5.3 		
For any delay or damages caused by natural conditions or other force majeure, the parties to this agreement shall settle the issue through negotiation according to related laws and regulations.

	
	 	 	 
		
5.4 		
This agreement is made in duplication and each party holds one copy. The agreement shall become effective upon signing and stamping by the two parties. The two parties shall comply with the agreement, if one party terminates the agreement without the mutual consent, it shall be liable for all the loss caused.

	
	 	 	 
		
 

	
	 	 	Party A: Tianjin Yayi Industrial CO., Ltd (corporate seal)
		
 

	
	 	 	Date:May 24, 2010
		
 

	
	 	 	Party B: Tianjin Jinhongji Import & Export Trading Co., Ltd. (corporate seal)
		
 

	
	 	 	Date:May 24, 2010Yayi International Inc.: Exhibit 10.3 - Filed by newsfilecorp.com

Exhibit 10.3

English Translation of 

Construction Agreement

Part 1 - Agreement  

Full name of the tender: Tianjin Yayi Industrial Co., Ltd. 

Full name of the contractor: Tianjin Jinghai Power Co., Ltd. 

In accordance with "The People's Republic of China Contract Law", "The People's Republic of China Construction Law" and other relevant laws, administrative regulations, following the equality, voluntary, fair, sincere, and trustworthy principle, the
two parties reach the following agreement:  

I. 

Project Overview 

Project Name: 10KV-1250KVA substation installation 

Project Location: Jinghai Road, Economic Development Zone of Tianjin Jinghai

Project content: substation capacity increase, substation installation

Project approval No.: Jin Jing 20100515001 

Source of Funds:
self-prepare 

	
II. 		
Contract scope

	
		
1250KVA high capacity increase, high-high-voltage distribution device installation, cable busbar installation, trial before electricity transmission, operation.

	
	 	 
	
III. 		
Contract Period:

	
	 	Starting Date: August 16, 2010 
		
Completion date: October 31, 2010

	
	 	The total contract duration of 75 calendar days
	 	 
	
IV. 		
Quality Standards

	
		
Project quality standard: good

	
	 	 
	
V. 		
Contract price

	
		
Amount (capital): Five Million (RMB)

                              
¥ 5,000,000

	

	
 	
 
	
VI. 		
Settlement

	
		
Within 7 days after signing the contract, advance payment RMB 1 million which is 20% of the contract price shall be paid;

After starting the project, the second payment of RMB2.5 million which is 60% of the
contract price shall be paid; 

After the project is completed and accepted, the remaining payment RMB1.5 million, which is 20% of the contract price shall be paid.

	

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The payments shall be made through bank transfer.

	
	 	 
	
VII. 		
The contractor agrees to conduct the construction in accordance with the agreements in the contract hereof, and take responsibility of maintenance during the quality warranty period.

	
	 	 
	
VIII. 		
The tender shall be in accordance with contractual commitments to fulfill the contract payment and other payments.

	
	 	 
	
IX. 		
Contract commencement

	

Contract Date: May 25, 2010 

Contract Location: No.9 Xingguang Road, Northern Industrial Park of Zhongbei Town, Xiqing District, Tianjin

Both parties agrees on this contract shall become effective after signing. 

 Tianjin Yayi Industrial Co., Ltd. (Company Seal)  

 Tianjin Jinghai Power Co., Ltd. (Company Seal) 

Part 2 - Special terms

	
1.	
The definition of terms and contract documents

    
	 	 	 
	
2.	
The composition of contract documents and the sequence for interpretation To implement Article 2 of Generic Terms

    
	 	 	 
	
3	
Language and applicable laws, standards and regulations

    
	 	 	 
	
 	
3.1 		
The contract is only in Chinese

	
	 	 	 
	
 	
3.2 		
Applicable laws and regulations

Power laws and regulations

	
	
 	
 	
 
	
 	
3.3 		
Applicable standards, norms

Applicable standards, specifications: power industry standards 

The time when the tender provides the standards and specifications: before contract signing 

Agreement not corresponding with national standards and norms: to implement Article 3.3 of Generic Terms

	

	
 	
 	
 
	
4. 		
Drawings	
 

	
	 	 	 
	
 	
4.1 		
Date when the tender provides the contractor the drawings: May 25, 2010

Requirements for using foreign drawings and cost bearing: N/A

	

5.

Engineers 

5.1 

Engineers assigned by the supervision company 

Name: N/A                               
Title: N/A 

Authority entrusted by the tender: N/A 

Powers needing to obtain approval from the tender before exercising: N/A

2

5.2   

The engineers assigned by the tender   

Name: N/A                               
Title: N/A 

Authority: N/A 

5.3 

Authority of engineer without supervision function: N/A 

6.  

Project Manager  

Name: N/A                               
Title: N/A  

7.  

Responsibilities of the tender  

7.1 

The tender should complete the following responsibilities in accordance with the
contracted time and period: 

(1) The site meets the requirements for construction and the completion time:
August 16, 2010 

(2)The time when the necessary water, electricity and telecommunication lines
connected to the construction site: August 16, 2010

(3) The time and requirements of construction site being able to access to
public roads: N/A 

(4) The time to provide engineering geology and underground pipeline information: N/A 

(5) The time when the tender get all necessary certificates, approval documents ready: N/A  

(6) Identification requirements for leveling point and coordination
control points: N/A 

(7) The time for drawings reviewing and completion: N/A 

(8) Coordination work relating to around underground pipelines, adjacent buildings, structures (including heritage buildings), and protection of old trees: N/A 

(9) Other work of the tender agreed by the two parties: N/A 8.2 Work entrusted to the tender by the contractor: N/A 

9. 

Responsibilities of the contractor 

9.1  

                    
The contractor shall fulfill the following tasks within the contracted period
and requirements:  

(1) The submission time of design documents prepared by person from the contractor allowed by his qualification level and the business scope: N/A 

(2) The submission of names and completion time for plans and reports: N/A 

(3) Responsibility and requirement for construction security and lightening during daytime construction: to implement No. 9.1. (3) of Article 9 in the General Terms  

(4)  Requirement to provide the tender office and living
facilities: N/A 

(5) Procedures the contractor should take responsible for regarding the construction site traffic, sanitation and construction noise management: to implement No. 9.1. (5) of Article 9 in the General Terms. 

(6) Special requirements for completed project protection and fees: The contractor shall be liable for.  

 (7) Requirements for the around underground pipelines, adjacent buildings, structures (including heritage buildings), and protection of old trees and the related fees:  the contractor shall be liable for.  

 (8) The sanitation requirements or the construction site: to implement No. 9.1. ( 8) of Article 9 in the General Terms.  

(9) Work entrusted to the contractor by the tender: N/A 

Part 3   Design of construction and the schedule  

3 

10.

Schedule plan  

10.1 

The time for the Contractor to provide construction design and the schedule the
time: N/A The time confirmed by engineers: N/A 

10.2 

The requirements of schedule for group works: N/A 13 Schedule delay 

13.1 

Other situations for schedule delay contracted by the two parties: Any delay happens should be notified 5 days in advance and settled through consultation by implementing the Article13.1 of General
Terms 

Part 4   Quality and acceptance 

17. 

Hidden projects and mid-term acceptance 

17.1 

The part for mid-term acceptance agreed by the two parties: N/A 19. Engineering
test 19.5 Fees bearing for engineering test: N/A 

Part 5  Construction safety 

Part 6   Contract price and payment  23. Contract price and adjustment  

23.2 

The contract price is determined in accordance with Item VI in this contract. 

(1)To use contract with fix price, the areas of risk contained in the contract
price: N/A The calculation of risk cost: N/A 

Contract price adjustment method outside of the areas of risk: N/A 

(2) To use contract with adjustable price, the contract price adjustment method: N/A 

(3) To use contract with cost plus remuneration, the agreement regarding the
costs and remuneration: N/A 

23.3 

Other adjustment factors for contract price agreed by the two parties: N/A 

24.  

Advance payment  

The ratio between advance payment and the total contract price: 20% 

25. 

Identification for project quantities 

25.1 

The time contractor submits report of completed project quantities to the
engineers: within 30 days after the completion 26. Project payment (progress
payment) The payment methods and time agreed by the two parties: bank transfer
by the tender 

Part VII Supply of materials and equipments 

27.  

The supply by the tender  

27.4   

If materials and equipments supplied by the tender have discrepancies with the list set in the contract, the responsibilities the tender shall take agreed by the two parties are as follows:   

(1) Unit price of the materials has discrepancies
with the list set in the contract: to implement Item 27.4 (1) of General Terms   

(2) The species, size, type, quality level does not match with the list: to implement Item 27.4 (2) of General Terms   

4 

(3) The materials can be swapped by the contractor: to implement Item 27.4 (3) of General Terms 

(4) The arrival location does not match with the list: to implement Item 27.4 (4) of General Terms 

(5) The supplied amount does not
match with the list: to implement Item 27.4 (5) of General Terms 

(6) The delivery time list does not match with the list: to implement Item 27.4 (6) of General Terms 

27.6 

The settlement method for the supply of material and equipment by the tender:
N/A 

28.  

The materials and equipment purchased by the contractor  

28.1 

The procurement for materials and equipment purchased by the contractor: N/A 

Part 8   Project change 

Part 9   Project completion, acceptance and settlement  32. Project completion and acceptance 

32.1 

The term agreed regarding the construction drawings provided by the contractor: submitted within one week after completion of the project 

32.6  

Mid-term completion scope and time: N/A  

Part 10   Breach, claims and disputes 35. Breach  

35.1 

The liabilities for breach of contract by the tender are as follows: 

The tender’s liabilities for breach of contract in Item No.24 of General Terms in this contract: N/A

The tender’s liabilities for breach of contract in Item No.26 (4) of General Terms in this contract:  to implement Item 26(4) of General Terms The tender’s liabilities for breach of contract in Item No.33 (3) of General Terms
in this contract: to implement Item 33(3) of General Terms Other breach responsibilities of the tender agreed by the two parties: N/A 

35.2 

The liabilities for breach of contract by the contractor are as follows: 

The contractor’s liabilities for breach of contract in Item No.14 (2) of General Terms in this contract: the contractor shall be liable for all the loss caused to the tender.  

The contractor’s liabilities for breach of contract in Item No.15 (1) of General Terms in this contract: the contractor shall be liable for all the loss caused to the tender.  

Other breach liabilities of the contractor agreed by the two parties: N/A 

37. 

Disputes 

37.1 

The two parties agree, all disputes shall be solved by submitting to the higher authorities of both
parties; should still no settlement be reached, take the second way to solve: 

(1) Submit to Tianjin Arbitration Commission for arbitration. 

(2)  Bring a lawsuit to the court  

Part 11 Others  

38.  

Subcontract of the project  

38.1 

Project the tender agrees with any subcontract: N/A Sub-contracted company: N/A  

5 

	
39. 		
Force majeure

    
	
 	
 	
 
	
 	
39.1 		
The force majeure item agreed by the two parties: to implement Item 39 of General Terms

	
	 	 	 
	
40. 		
 	
Insurance

	
	 	 	 
	
 	
40.6 		
The insurance content agreed by the two parties is as follows:

	

(1) Insurance for the tender: N/A 

Insurance issues the tender entrust the contractor for: N/A (2) Insurance for the contractor: N/A 

	
41. 		
Guaranty

	
	 	 
	
41.3 		
The guaranty matters agreed by the two parties are as follows:

	

(1) The tender provides performance guarantees to the contractor in the way: N/A .  Guaranty items are as the annex of this contract.  

(2) The contractor provides performance guarantees to the tender in the way: N/A .  Guaranty items are as the annex of this contract.  

(3) Other guaranty matters agreed by the two parties: N/A 

	
46. 		
No. of the contract copies

    
	 	 	 
	
 	
46.1 		
The number of contract copies agreed by the two parties: 5 copies

	
	 	 	 
	
47. 		
Supplementary items

    
	 	 	 
	
 	
1.	
Contracting methods: contract for both labor and materials

	
	 	 	 
	
 	
2.	
The final settlement is subject to the settlement price.

	

6

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