Exhibit 10.16
SALES CONTRACT OF INDUSTRIAL PRODUCTS
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NO.:
SIGNED AT: Tai'an
DATE: July 5, 2004
This contract is made and entered into by and between Shandong Shengda Chemical
Machinery Co., Ltd (hereinafter referred to as the Seller) and Shandong Shengda
Chemical Co., Ltd (hereinafter referred to as the Buyer); whereby the Seller
agree to sell and the Buyer agree to buy the commodity mentioned in this
contract subject to the terms and conditions stipulated below:
Article 1: Object, Quantity, Price and Date of Delivery
NAME OF COMMODITY: Absorption Tower, Equalizer Tank, Surge Tank, Liquid Ammonia
Tank
UNIT: PIECE
QUANTITY: Three, One, One, and Two Respectively
UNIT PRICE: RMB 165,200 yuan, 431,000 yuan, 96,200 yuan, 746,200 yuan
respectively.
TOTAL AMOUNT: RMB 2,515,200 (two million, five hundred and fifteen thousand and
two hundred) yuan
DATE OF DELIVERY: Within forty-five days after receiving the advance payment.
Article 2: QUALITY STANDARD
Be subject to the GB 150 Trade Standard for Containers. In the case of the
liquid ammonia tank, the crack detection will be done on a 100% basis and the
whole tank has to be undergone heat treatment.
Article 3: TERMS AND TIME LIMIT OF QUALITY ASSURANCE OF THE SELLER: 1 Year of
Quality Warranty
Article 4: TITLE TO THE GOODS SHALL BE PASSED UPON DELIVERY; HOWEVER, IF THE
BUYER FAILS TO PERFORM THE OBLIGATION OF PAYING THE FULL AMOUNT OF PURCHASE
PRICE, TITLE TO THE GOODS SHALL REMAIN WITH THE SELLER.
Article 5: MEANS AND PLACE OF DELIVERY: The Buyer's factory.
Article 6: MODE OF TRANSPORAT AND DESTINATION AND COST ALLOCATION: The Seller
shall be fully responsible.
Article 7: STANDARD, METHOD, and PLACE AND TIME LIMIT OF INSPECTION: The
inspection will be done pursuant to the National Standards.
Article 8: METHOD, TIME AND PLACE OF PAYMENT: 30% shall be paid after this
contract becomes effective. 30% shall be paid after the objects have been
completed 50%; and 85% of the total will be paid when the objects have been
delivered.
Article 9: TERMINATION OF THIS CONTRACT: After the remaining amount of money has
been paid off.
Article 10: BREACH LIABILITY: shall be governed by the provisions of the
Contract Law.
Article 11: METHOD OF SETTLING THE DISPUTE OVER THE CONTRACT:
IN THE PERFORMING OF THIS CONTRACT, IF ANY DISPUTE ARISES, THE TWO PARTIES SHALL
SETTLE IT THROUGH FRIENDLY DISCUSSIONS; THE DISPUTE CAN ALSO BE MEDIATED BY THE
LOCAL INDUSTRIAL AND COMMERICAL ADMINISTRATION; IF NO SETTLEMENT COMES FROM THE
DISCUSSIONS OR MEDIATATIONS, THE DISPUTE SHALL BE SETTLED BY LAWSUITS THROUGH
THE PEOPLE'S COURT.
Article 12: THIS CONTRACT SHALL BECOME EFFECTIVE after having been officially
signed by the two parities.
THE SELLER: THE BUYER:
Shandong Shengda Chemical
Machinery Co., Ltd Shandong Shengda Chemical Co., Ltd
/s/ Xxxxx Xxxxxxx /s/ Chen Zhongzhi
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AUTHORISED SIGNATURE AUTHORISED SIGNATURE
