Exhibit 10.38
SALES CONTRACT OF INDUSTRIAL PRODUCTS
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NO.:
SIGNED AT: Tai'an
DATE: August 10, 2005
This contract is made and entered into by and between Shandong Haize
Nanomaterials Co., Ltd (hereinafter referred to as the Seller) and Triangle Tire
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: Nanometre Calcium Carbonate
Trademark: Sheng Ke
Specification: 602
Manufacturer: Shandong Haize Nanomaterials
UNIT: ton
QUANTITY: 3,600
UNIT PRICE: RMB 3,960.00 yuan
TOTAL AMOUNT: RMB 14,256,000.00 (fourteen million, two hundred and fifty-six
thousand) yuan
DATE OF DELIVERY: From August 2005 to August 2006, 300 tons each month
Article 2: QUALITY STANDARD
Be subject to the Q/VLT 2000 Enterprise Standard.
Article 3: PACKING STANDARD AND THE PROVISION AND RECOVERY OF PACKINGS: Outer
packed with paper bag and inner packed with plastic bag.
Article 4: STANDARD FOR REASONABLE WEAR AND TEAR AND COMPUTING MODE: The
quantity shall be based on the quantity accepted and put in the storage by the
Buyer.
Article 5: MEANS AND PLACE OF DELIVERY: The warehouse of the buyer.
Article 6: MODE OF TRANSPORAT AND DESTINATION AND COST ALLOCATION: By road; the
Seller shall pay the cost.
Article 7: STANDARD, METHOD, and PLACE AND TIME LIMIT OF INSPECTION: The
inspection will be done in accordance with agreed standards, and if there is any
objection, it will be made clear to the other party within 15 days.
Article 8: METHOD, TIME AND PLACE OF PAYMENT: By bank draft.
Article 9: BREACH LIABILITY: shall be governed by the provisions of the Contract
Law.
Article 10: 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 11: THIS CONTRACT SHALL BECOME EFFECTIVE after having been officially
signed by the two parities.
Article 12: MISCELLANEOUS: The contract period is one full year, starting from
August 10, 2005 and ending on August 10, 2006.
THE SELLER: THE BUYER:
Shandong Haize Nanomaterials Co., Triangle Tire Co., Ltd
Ltd
/s/ Ma Zhaowei /s/ Yu Zhongming
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AUTHORISED SIGNATURE AUTHORISED SIGNATURE
