Exhibit 10.28
SALES CONTRACT OF INDUSTRIAL PRODUCTS
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NO.: 050302
SIGNED AT: Tai'an
DATE: March 2, 2005
This contract is made and entered into by and between Shandong Shengda Chemical
Machinery Co., Ltd (hereinafter referred to as the Seller) and Shandong Bangshen
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: Melamine Equipment
UNIT: Set
QUANTITY: Forty-six
UNIT PRICE: (referring to the list for detail)
TOTAL AMOUNT: RMB 10,975,600.00 (ten million, nine hundred and seventy-five
thousand and six hundred) yuan
DATE OF DELIVERY: Within 70 days after the signing of this Contract
Article 2: QUALITY STANDARD
The Seller will manufacture the object according to the drawing sheet provided
by the Buyer.
Article 3: TERMS AND TIME LIMIT OF QUALITY ASSURANCE OF THE SELLER: 1 Year of
Quality Warranty
Article 4: NUMBER OF NECESSITIES, SPARE PARTS, TOOLS TO BE PACKED WITH THE SAID
EQUIPMENT, AND METHOD OF SUPPLY: In accordance with the requirements indicated
in the drawing sheet.
Article 5: 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 6: MEANS AND PLACE OF DELIVERY: The site where the buyer uses the goods.
Article 7: MODE OF TRANSPORAT AND DESTINATION AND COST ALLOCATION: By road; the
Seller shall pay the cost.
Article 8: STANDARD, METHOD, and PLACE AND TIME LIMIT OF INSPECTION: The
inspection will be done pursuant to Article 2 at the place of delivery.
Article 9: METHOD, TIME AND PLACE OF PAYMENT: 30% shall be paid after this
contract becomes effective; 30% shall be paid after the inspection and
acceptance; 30% shall be paid after one month's successful operation; and the
remaining 10% (Quality Guarantee Money) shall be pay off within one year.
Article 10: TERMINATION OF THIS CONTRACT: After the remaining amount of money
has been paid off.
Article 11: BREACH LIABILITY: shall be governed by the provisions of the
Contract Law.
Article 12: 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 13: THIS CONTRACT SHALL BECOME EFFECTIVE after having been officially
signed by the two parities.
Article 14: MISCELLANEOUS: This contract is in duplicate, and each party shall
hold one copy.
THE SELLER: THE BUYER:
Shandong Shengda Chemical
Machinery Co., Ltd Shandong Bangshen Chemical Co., Ltd
/s/ Gong Xingyu /s/ Zhang Rongquan
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AUTHORISED SIGNATURE AUTHORISED SIGNATURE
