Contract
Exhibit 10.23
10.23 Agreement for Sale of Corn between Shandong Taishan Beer Co., Ltd. and
Shandong Xiangrui Pharmacy Co., Ltd.
Shandong Xiangrui Pharmacy Co., Ltd.
Party A: Shandong Taishan Beer Co., Ltd.
Party
B: Shandong Xiangrui Pharmacy Co., Ltd.
• | General Information |
• | Pursuant to the contract entered on August 23, 2010, Party A will buy corn
starch of 320 tons from Party B. |
• | Fees of the Commodity and Payment Arrangement |
• | The total fees will be RMB 931,200. |
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• | Party A shall pay after the goods are delivered. |
• | Delivery Date |
• | Not later than June 5, 2010 |
• | Breach of Agreement |
• | If Party B fails to deliver the goods pursuant to the agreement, Party A
shall be entitled to rescind the agreement and Party B shall pay 20% of value of the
goods as liquidated damages. If Party B fails to deliver the goods on schedule but
gets the permission from Party A, Party B shall pay 3% of the value of the
non-delivered goods as liquidated damages per day. |
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• | Party B shall indemnify Party A in addition to the abovementioned
indemnification if Party B fails to deliver the goods pursuant to the quality
requirement. |
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• | If the goods fail to meet the inspection requirement, Party A shall inform
Party B in writing to retrieve the goods within 3 days after the written notice. If
Party B fails to retrieve the goods on schedule, Party B shall pay 10% of the value
of the unqualified goods per month. Party A shall be entitled to dispose the
unqualified goods if Party B fails to retrieve the said goods within 3 months. |
• | Headlines of the articles omitted |
• | Validity, Modification and Termination of Contract |
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• | Dispute Settlement |
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• | Miscellaneous |