In order to facilitate Party A’s work of starting the consignment sales on time, Party B should ship the first lot of consignment goods to Party A before Dec.31, 2009. On or about March 15, 2010, Party A and Party B shall meet to mutually determine on acceptable sales level for the remainder of the consignment period.
Within one month after expiration of the consignment period, Party A shall remit Party B the total sum in U.S Dollars based on the contracted unit price for those items which have been sold.If at any time the total value of goods sold exceeds the amount of U.S. Dollars 150000, Party A shall remit the total sum in U.S. Dollars to Party B within one month’s period of time.
The main parts, consumption articles and components required for assembling will be sent in time to Guangzhou by Party A and if there is any shortage of , or damage to these parts and components , Party A shall be responsible for supplying replacements.Party A shall pay Party B by opening an irrevocable L/C covering the full amount of assembling charges and costs of parts , consumption articles and components purchased in Guangzhou by Party B , one month before the shipment of the finished products concerned.
All import and export procedures in connection with this contract shall be taken care of by PartyB.All transistor radios assembled by Party B will be shipped to foreign buyers designated by Party A. The relevant freight and insurance premium shall be borne by Party A.
The trade marks of transistor radios will be supplied by Party A and should there be any illegal involvement, Party A is to be held fully responsible.All parts and components purchased by Party B in Guangzhou, if necessary for assembling transistor radios, must measure up to the quality standards of, and be approved by Party A beforehand.
This Contract comes into effect on the first day of the engaged party’s arrival at the AA University and ceases to be effective at its expiration. If either party wishes to renew the Contract, the otherparty shall be notified in writing one month before it expires. Upon agreement by both parties through consultation, a new contract may be signed between two parties.
The Company is a limited liability company and a legal person under the laws of the People’s Republic of China. All the activities of the Company shall comply with the laws, decrees and regulations promulgated by the People’s Republic of China. All the lawful rights and interests of the Company are subject to the jurisdiction and protection of the laws of the People’s Republic of China.
If either of the Parties fails to fulfil its obligations under this Contract , it shall compensate the other party for all its economic losses resulting therefrom.During the term of operation of the Company, neither Party has the right to announce unilaterally the cancellation or termination of this Contract.
The registered capital of the Company is USD 90 million. The Chinese Corp provides the right to use land within 30 days after signing the Agreement. The Foreign Co. provides the office building, factory premises, necessary facilities, equipment, machines, tools, instruments, industrial property rights, non-patent technology, production funds, operating funds, etc. before March 1, 2001.
In case of Force majeure, which makes it impossible for the Company to continue its business, this Agreement may be terminated ahead of schedule through consultation between the two parties. If the Chinese or foreign party wishes to make an assignment of all or part of its rights and obligations prescribed in this Agreement, the other party shall have the preemptive right to purchase the same. The assignment must obtain the approval of the examination and approval authority.
In case defect of the delivered equipment is found within the warranty period .INVESTOR shall take appropriate action for settlement without delay ,upon SINO`s request.
In the above instance investor shall request SINO for payment of the actual costs of transportation ,when such defect is judged to be due to inexperienced operation by sino or due to inappropriate handling ,or due to an article of consumption.
Sino shall be able to request for continued technical support from investor , if necessary, even after completion of the above despatch of investor`s engineers. however ,in this instance .investor shall be able to request sino for the cost of such additional technological cooperation .terms and conditions shall be subject to mutual discussion and agreement between sino and investor .
1)GTT shall act as a bridge between SINO and INVESTOR
2)GTT shall assist SINO in marketing in china of products finished by SINO by means fo trade show ,seminar ,technical traning program ,ect
3) GTT shall consider marketing finished products to Europe and Africa when the quality turns out to be satisfactory
1)In case initial test is unsatisfactory ,a second test shall be carried out .if the second test is again unsatisfactory ,INVESTOR shall replace the equipment involved at its own cost ,within two months after the second text
2)in case text results are satisfactory ,SINO and INVESTOR shall sign a text certificate in duplicate and each party shall keep one copy
The making ,validity ,interpretation and implementation of this contract and the settlement of disputes arising thereform shall shall be governed by laws ,decrees and regulations promulgated by the people`s republic of china
The engaged party works five days a week and seven hours a day ,the engaged party have legal holidays as prescribed by both Chinese and Australian government the winter vacation is fixed by the school calenderf
The engaginfg party pays the engaged party a monthly salary of 2000 australian dollars and provides him with various benefits as prescribed by Australian government for foreign teachers working in Australia
The engaged party shall abide by the laws and regulations of the Australian government concerning residence ,wages and benefits ,and travel for foreigners when entering ,leaving and passing through the territory of the country ,and shall follow the working system of the engaging party
Party b shall within 15 days after signing this agreement establish in favour of party a an banker`s acceptance l/c in payment for the equipment ,for an account not less than J 22200000,available by draft at 180 days sight ,the l/c will be effective only after receipt by party b of a satisfactory reciprocal l/c opened by party a for payment of canned asparagns ,after receipt of the l/c ,party a shall effect shipment of the equipment of the equipment in time ,provide the required documents according to article 7 of this agreement together with the draft at 180 days sight ,and obtain its bank`s acceptance
Party b will submit to party a the actual retail prices of aforesaid articles in hongkong and Japanese markets for party a`s reference. Party b has no right to interfere with a`s selling price ,spot and method ,but it has the right to make positive proposals , party a is responsible to submit party b regular reports on selling situation (covering retail price), problems arising in the course of selling and making proposals to improve sales ,party b should provide party a with various arrangements which are conductive to sales (including samples free of charge ,articles for trial sales ,data for promoting cosmetic sales ,technical exchange and conditions for storage etc.