CONTRACT NOTE
This contract is made on 6101995 day of THE TAIWAN TARDING COLTD as Seller and MANILA TRADING CO as Buyer All parties agree to the sale and purchase of Cotton thread under the following terms and conditions
1 Commodity
2 Coun try of Origin
3 Quantity
4 brand
5 contract price
6 packing
7 payment terms
by a confirmed irrevocable divisible transferableand partial shipment not allowedLetter of Credit without recourse in favout of the SellerLC should be opened within 7 banking days by the Buyer after the contract is signed
8 Shipment
Shipment shall be effected within 45 days from the date of the Seller’s receipt of the Buyer’s Letter of credit In the event of the Buyer’s vessel failing to arrive for loading then the Seller shall have the right as stipulated herein to claim damageslosses not exceeding 30 of the LC amount from the Buyer The Buyer in this respectshall furnish the Seller with the Bank Guarantee
9 performance Guarantee
the Seller shall send a 20 deposit or bank’s Guarantee to the Buyer within 14 banking days upon receipt of the Letter of Credit from the Buyer If the Seller fails to carry out the contract the performance guarantee will be forfeited to the Buyer
10 Accompanying Documents
The Seller shall provide the buyer with
(1) Complete set of Clean Bills of Lading
(2) Signed Commercial Invoice in quadruplicate
(3) Certificate of Country of Origin
(4) Packing List
(5) Other Essential documents in respect of the export of Cotton thread
11 Shipment Advice
The Seller shall telex to the Buyer advising the loading conditions at least 14 days before the fixed loading time
The buyer or his agent shall advise the Seller of the Vessel’s estimated time of arrival at the port of loading
12 Other Conditions
Inspection of quality Quantity and weight can be carried out at the port of loadingIf other related documents are needed the formalities and consular charges incurred shall be borne by the Buyer
13 Laytime
From 1300 hours same day otherwise from 800 hours next day
14 Demurrage 2200 USday for 15000 DWT Vessel
15 Force Majeure
If the implementation of con tract of either Side is influenced by typhoonsearthquake or other events considered by both Sides as FORCE MAJEUREthe postponement of implementation should be equal to the effective period of the said causes
Buyer Seller
Witness Witness
Date Date
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