Product Purchase and Sale Contract
Category: Purchase Agreement
Item Six: Quality and Time Limit of Delivery
Party B ensures the requirement of Party A: a monthly provision of about 250 tons, with fluctuation of 20%. The specific delivered quantity and time limit should conform to the time of delivery in Party A’s “factory order”. On the factory order there should be the quantity, time of delivery and so on. Within ten days after Party B received the advance payment from Party A, Party B should produce the first batch of products. On 26th of every month, Party A gives the order of the next month, according to which Party B will produce and deliver goods according to the factory order.
Item Seven: Method of Acceptance Check
The quality and quantity should be checked at the place of delivery. After Party B delivers the goods, that is, sends the bill of lading and product laboratory report in time to Party A, Party A should inform Party B by fax of the quantity of the milk powder on the day of receiving the milk powder. At the time of Party A’s acceptance check, if there are differences in the quantity, breakage of product package and underweight, Party A should present the written form by fax to Party B on the day of warehousing. According to the undamaged product quantity, Party A is to warehouse according to the actual weight (take 10 sacks and take the mean value of net weight as the weight of each sack). The products with broken outer packs or inner packs should be retracted by the freight driver. Party A is not in charge of storage. The quality of products is to be checked according to Party A’s internal quality standard. If there are quality problems, Party A should present in written form by fax to Party B within seven days after the arrival of goods. Two parties should negotiate specific method of disposition or go to quality-inspecting departments for inspection. If the goods are returned due to quality problems, Party B is to assume the back goods freight. If there is no demur seven days after the arrival of goods, the products of Party B is considered qualified at the acceptance check. Party B does not assume subsequent obligations.
Item Eight: Method of Payment
1 After the signing of the contract, Party A pays Party B 30% of payment for the first batch of goods in advance. Within seven days after the goods are accepted as qualified, the rest of the payment should be settled up. Party A will no longer pay advance payment for the batches of products. Within seven days after Party A receives and accepts the goods, the payment should be settled up. Party A is to send the receipt of remittance by fax to Party B.
2 The type of payment is bank draft or cable transfer;
3 The time of Party A’s payment is the time on the bank receipt;
4 Party B is to provide Party A with an invoice with 17% tax rate of value added tax.
===
Click here for the complete Product Purchase and Sale Contract