Question

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VII. Contract drafting (10) Suppose your were the seller, draft the contract with NEO General Trading co. On the basis of following information. Seller: Zhe Jiang Sunflower Import and Export Company Address: No. 288, Liu He Road, Xi Hu District, Hangzhou, China Buyer: NEO GENERAL TRADING CO. #362 JALAN STREET, TORONTO, CANADA CHINESE CERAMIC DINNERWARE 07001 48-Piece Dinnerware and Tea Set CIF Toronto 48 USD per set Port of shipment: Shanghai Port of destination: Toronto Insurance: WPA, Clash and breakage risks Payment method: letter of credit

the last two pictures are the same as the 2nd picture

Answer 1

Contract

No. Zhe /0057/2018

Date                      01.09.2017

Signed at :           Hangzhou, China

Sellers :                Zhe Jiang Sunflower Import and Export Company

Address :             No.288,Liu Hi Road, Xi Hu District, Hangzhou, China

Postal Code

Tel No . Fax No

Buyers : Neo General Trading Co.

#362,Jalan Street, Toronto, Canada

Postal Code

Tel No . Fax No.

The Seller agrees to sell and buyer agrees to buy the undermentioned goods on the terms and conditions stated below:

1. Article No.                                           07001
2. Description and Specification      Chinese Ceramic Dinnerware
3. Quantity                                              48 pcs – Dinner Set and Tea Set
4. Unit Price                                            48 USD per set
5. Total Amount                                    2304 USD

With 3% more or less both in amount and quantity allowed at the sellers option.

6. Country of Origin and Manufacturer- China - Zhe Jiang Sunflower Import and Export Company
7. Packing                                                 Carton Packing – 4 Set each carton                          
8. Shipping Marks                
9. Time of Shipment                            End of Feb,2018
10. Port of Loading                                 Shanghai
11. Port of Destination                          Toronto
12. Insurance –                                        WPA – Clash and breakage risks

110% of the value covering 2304 USD

13. Payment                                              Letter of Credit

By confirmed, irrevocable and divisible L/C to be available by slight draft to reach the sellers before 15/04/2018 and to remain valid for negotiation in China until 15 days after the aforesaid time of shipment. The L/C must specify that transshipment and partial shipments are not allowed.

14. Documents                                                         : Invoice / Packing list / Bill of lading
15. Terms of Shipment                                         : CIF Toronto

Shipment should be delivered during March and April,2018

Partial Shipment and Transshipment not allowed

16. Quality/Quality Discrepancy and claim    Re-Inspection duration:60 day after the arrival to the

Port of destination

17. Force Majeure:

Either Party shall not be held responsible for failure or delay to perform all or any part of this agreement due to flood, fire, earthquake, draught, war or any other events which could not be predicted , controlled, avoided or overcome by the relative party. However, the party affected by the event of Force Majeure shall inform the other party of its occurrence in writing or as soon as possible and thereafter send a certificate of the event issued by the relevant authorities to the other party within 15 days after its occurrence.

18. Arbitration:

All disputes arising from the execution of this agreement shall be settled through friendly consultations. In case no settlement can be reached, the case in dispute shall then be submitted to the Foreign Trade Arbitration Commission of China Council for the Protection of International Trade for Arbitration in accordance with its Provisional Rules for Procedure. The decision made by this commission shall be regarded as final and binding upon both parties. Arbitration fees shall be borne by the losing party, unless otherwise stated.

19. Remarks

Shipment to be delivered during March and April 2018

Sellers:                                                                                                                                 Buyers:

Signatures:                                                                                                         Signatures: