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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness

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CONTRACT FOR SALE OF GOODS

– Pursuant to the civil code No. 91/2015/QH13 dated November 24, 2015.

– Pursuant to Commercial law No. 36/2005/QH11, passed by the national assembly on January 01st, 2006.

– Pursuant to offer (offer or agreement of both parties).

Today, Date … Month … Year … (1)

In place: ……… (2)

We include:

Party A (hereinafter referred to as “Seller”)

– Name of enterprise: ………………………………………… (3)

– The head office address: …………………………………… (4)

– Number phone:…………………. Fax:…………………….. (5)

– Bank account No:…………………………………………... (6)

– Opening at the bank:……………………………………….…

– Authorized person:…………………………………………. (7)

– Position: ………………………………………………………

– The letter of authorization (If the authorized person signs on behalf of the director).

No: Date … Month … Year …

By: …….. Title ………………… signs.

Party B (hereinafter referred to as “Buyer”

– Name of enterprise: ………………………………………………….(3)

– The head office address: …………………………………………… (4)

– Number phone:………………..…… Fax:………….……….……… (5)

– Bank account No:…………………………………………………… (6)

– Opening at bank:……………………………………………………..

– Authorized person:………………………………………………….. (7)

– Position: …………………………………………………………..…

– The letter of authorization (If the authorized person signs on behalf of the director).

No: … Date … Month … Year …

By: …….. Role …… signs.

Both parties agreed to the conclusion of contract with the contents as follows:

RECITALS

1. Production Expansion.

a. Buyer is expanding its production facilities.

b. The expansion plan subdivides into three phases which come on line:

– Phase One—January 20…

– Phase two—February 20…

– Phase three—May 20...

c. To commence production in a phase of new construction, Buyer must satisfy the following conditions:

– Obtain a Certificate of Occupancy, and

– Receive authorization to manufacture.

d. To qualify for the foregoing conditions, Buyer must pass a fire safety inspection, which requires it to adequately equip its machinery with slings and hoists.

TERMS

1. Agreement of Sale.

Seller agrees to sell and Buyer agrees to buy 200 units of the Model X 47 Mechanical Sling for $1,000 per unit. (“Unit” – each individual Model X 47 Mechanical Sling).

2. Payment.

Payment shall occur upon delivery for the price stated in section 1.

Payment shall occur at Seller’s production plant on 123 Broad Street, Lexington, KY 40502.

3. Delivery and Acceptance.

a. Delivery shall occur at Seller’s production plant.

b. Delivery shall be in three installments.

– The first installment shall be on January 1, 20….

– The second installment shall be on February 1, 20….

– The third installment shall be on May 1, of 20….

c. Installments one and two shall be in fifty units.

d. The third installment shall be in one-hundred units.

4. Loading & Transportation.

Buyer agrees to collect, load, and transport the goods at its expense.

5. Notice of Delivery.

a. Seller shall notify Buyer of readiness for delivery by fax no later than six days before each delivery (“timely notice”).

b. If Seller gives timely notice, Buyer shall pick up goods on the date scheduled for installment.

6. Delayed Notice.

a. If Seller fails to provide timely notice regarding a scheduled installment, but notifies Buyer before the 12thof any specified installment month (January 12, February 12, May 12) Buyer must pick up the goods.

b. However, such delay (“delay” – failure to provide timely notice) permits a five day extension period for Buyer before collecting the goods, beginning when Buyer first receives notice of readiness for delivery.

c. Seller assumes responsibility for all damage and/or destruction to goods during any resulting period of delay.

d. Buyer may reject installment if Seller fails to notify Buyer before the 12thof any scheduled installment month that delivery is ready,

e. If Seller delays notice as stated in section b., Buyer may also elect to terminate this agreement.

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