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SALES CONTRACT

No.: 0017-040-001
Date: 04-05-2017
Signed at:
BETWEEN:
THE BUYER
Company name : Kunming Diqi Import & Export Trading Co.,LTD
Address : Middle Renmin Road, Kunming City, Yunnan Province, China
Tel : +86 871 6319 5956
E-mail : kunmingdiqi@188.com
Represented by : Xu Tao -manager
Website : www.ynkmdiqi.com
Register number: 91530100MA6KBEN43L

THE SELLER
Company name : Altechno Engineers,
Address : M-28, Abul Fazal Enclave, Jamia Nagar, New Delhi-110025
Tel. : +91 9212707482
E-mail : marketing@altechnoengineers.com
Represented by : Parvez Ahmad
Register Number: 09588835291C

The BUYER agrees to buy and the SELLER agrees to sell the following described
merchandise in the quantity for the delivery at the price and upon the following terms
and condition:
1. COMMODITY: STAINLLESS STEEL TANK
Material: SS 304 4mm
Shell thickness: 5mm
Dish end: 6mm
Specification is mentioned as per the drawing that being provided by the Buyer
and the quotation of the Seller.
2. QUANTITY: 60 pieces
3. UNIT PRICE: $18,600 USD Ex-Works
4. TOTAL AMOUNT: $1,116,000 USD Ex-Works

5. INSURANCE: To be covered by Buyer, All Risks clause

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6. TERMS OF PAYMENT: by TT
- The payment schedules as following:
40% downpayment of PO Value within 30 workdays after signing the contract;
20% downpayment of PO Value within 7 days before 1st shipment of 20 tanks;
20% downpayment of PO Value within 7 days before 2nd shipment of 20 tanks;
20% downpayment of PO Value within 7 days before 3rd shipment of 20 tanks.
- The information of Sellers bank is as follows:
Indian Overseas Bank
New Friends Colony, New Delhi, INDIA
Account No. : 179502000000347
Account Type : Current Account
IFSC Code : IOBA0001795
MICR Code : 110020068

7. DELIVERY TIME
All of these products can be divided into 3 batches for delivery, as follow:
The first batch : 20 pieces
The second batch : 20 pieces
The third batch : 20 pieces
Place of delivery:
The seller will confirm the delivery date of each batch by emailing the buyer.

8. EFFECTIVE DATE OF PO:

The Purchase Order shall take effect without any further notice from the date of
issue and will be expired on the date the buyer receiving the third batch.

9. Acceptance standard:
The stainless steel tank should be accepted in accordance with the original drawing
sent by the Buyer.

10. DOCUMENT
The Seller will send to the Buyer following original document by Express Courier
for each batch, 01 set in triplicate in English of:
Signed Commercial invoice indicating PO number.
Packing list showing quantity and weight of each item.
Certificate of Quality and Quantity made by the Manufacturer.
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11. FORCE MAJEURE:

Either Party shall be relieved its obligations and responsibilities under this contract
if the performance of this contract is wholly and partially prevented and/or related by
act of God or any other caused beyond the control of either party, such as fires, floods,
strikes, lock out, riots or civil commotion, war and act of Government. Either party
shall promptly give the Notice to other party of any force majeure event effecting its
obligations under this contract along with documentary evidence such as certificate of
Chamber of Commerce of any other competent authority connected with the cause.

12. GUARANTEE
The Seller will warrant a full guarantee for the satisfactory material properties,
execution of fabrication and assembly/ functioning of the finished components for a
period of 12 Months from the date of final takeover.

13. LIQUIDATED DAMAGES:

In case the Seller has delayed shipment, the Seller have to pay the delayed penalty at
rate of 0.1% per day for delayed portion, but total penalty not exceeding 5% of
contract value.
In case the Buyer does not receive the goods or goods get damage during transit, in
that case Buyer can claim the insurance to the fullest of contact value.

14. ARBITRATION:
Any disputes that may arises between both parties, shall be resolved amicably. In
case of failure of such procedure, the dispute will be settled through the Arbitration
and Conciliation Act, 1996 at Singapore according to International rules. The language
for Arbitration shall be in English. The decision of Arbitration shall be final and
binding of both parties. Arbitration fee shall be borne by the losing party. The Venue
of the arbitration shall be in Singapore.

15. RIGHT TO KNOW:

Only the buyer and the seller have the right to know information in this contract.
Neither the buyer nor the seller is allowed to disclose this contract and drawing to a
third party.
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16. GENERAL CONDITIONS:

The present contract comes into effect from the date of signing and both parties
undertake to execute strictly all the terms and conditions. All previous agreements
shall become null and avoid; any change or amendment to the contract shall be made
in writing and subject to prior approval by both parties.

17. The quality guarantee.

The Buyer will depute their quality inspector to manufacturing site (if required)
to inspect the tank manufacturing process and quality of these tanks at their own
expense.

18. This contract takes effect after notarization in Chinese Government.

14. NOTES: This contract takes effect after notarization in Chinese government.
THE BUYER THE SELLER

For ALTECHNO ENGINEERS

Authorized Person

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