Exhibit 10.29
SALES CONTRACT OF INDUSTRIAL PRODUCTS
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NO.:
SIGNED AT: Tai'an
DATE: March 5, 2005
This contract is made and entered into by and between Shandong Taifeng Minerals
Co., Ltd (hereinafter referred to as the Seller) and Shandong Bangsheng 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: Bituminous Coal
Producer: Taifeng Minerals
UNIT: ton
QUANTITY: 24,000
UNIT PRICE: XXX 000 yuan
TOTAL AMOUNT: RMB 10,800,000 (ten million, eight hundred thousand) yuan
DATE OF DELIVERY: From March 5 2005 to March 5 2006, 2,000 tons each month
Article 2: QUALITY STANDARD
Be subject to the Quality Standards of Bituminous Coal provided by the
successful bidder.
Article 3: SUPPLY QUANITY REQUIREMENT: The monthly supply shall no less than
2,000 tons.
Article 4: STANDARD FOR REASONABLE WEAR AND TEAR AND COMPUTING MODE: The
quantity shall be based on the weighing slip on the scale at the factory, and
any losses shall be responsible for the Seller itself.
Article 5: MEANS AND PLACE OF DELIVERY: The Buyer's bituminous coal stock.
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 check
and acceptance will be done in the place of the Buyer; those failing to meet the
standards will be rejected.
Article 8: METHOD, TIME AND PLACE OF PAYMENT: Cash on Delivery.
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 as of the fifth day of March,
2005.
Article 12: MISCELLANEOUS: The contract period is one full year.
THE SELLER: THE BUYER:
Shandong Taifeng Minerals Co., Ltd Shandong Bangsheng Chemical Co., Ltd
/s/ Liu Changzhou /s/ Wang Gongqin
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AUTHORISED SIGNATURE AUTHORISED SIGNATURE
