Common use of CONTRACT CONFIRMATION Clause in Contracts

CONTRACT CONFIRMATION. (1) The contract signed and sealed by both parties shall be effective, and the contract equipment manufacturing cycle shall be counted from the effective date of the contract. (2) For the equipment of ships 1# --- 4#, Party A shall issue a single ship contract execution notice and the technical plan signed by both parties (according to the actual situation, one plan per ship), as the official construction basis. (3) If the technical status changes, the equipment price can be increased or decreased according to the actual situation in the form of a single ship contract change order. (4) “Technical Agreement on Waste Heat Recovery Drying Wood System for 48,500T Bulk Carrier” is attached as Annex 2 of this contract and has the same legal status as this contract. During the execution period of the contract, neither Party A nor Party B shall change or cancel the contract at will. If there are any matters not covered in the contract, supplementary provisions shall be made through mutual negotiation between the two parties, and the supplementary provisions shall have the same effect as the contract. The original of this contract is in 8 original copies, and each party holds 4 copies.