EXHIBIT 10.3
SALE CONTRACT OF GUANGXI TONGJI MEDICINE CO. LTD.
Contract No. ______
The Supplier (part A): Guangxi Tongji Medicine Co. Ltd
The Demander (part B): Nanning Tongji Hospital Co. Ltd
Place: Nanning Date: October 1, 2003
In accordance with the Contract act of the People's Republic of China and in
order to reduce the purchase cost of the hospital, all the medicine of Nanning
Tongji Hospital Co. Ltd will be purchased by Guangxi Tongji Medicine Co. Ltd.
The contract is signed by both sides through consultation.
1. Products
Name of Unit price Volume
commodity Standard Manufacturer Quantity Unit including tax of Tax Remark
A batch of Supply according
medicine to cost price
(delivery in
batches
according
to needs of
the demander)
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Total value:
2. Terms on quality. 1) The commodities of the supplier should be in accordance
with the quality standards of the nation and other demands concerned. 2) The
whole packing should include the qualification certificate. 3) As to commodity
import, the supplier must offer Register Certificate of Import Commodity or
Register Certificate of Medical Product in accordance with regulations and the
Examination Report of Import Commodity or Paper of Import Commodity Passing
Custom given by the examination station on port. 4) The packing of the
commodities should be in accordance with regulations concerned and the demand of
cargo transport.
3. Responsibility of quality. A should stock the products according to
regulations concerned. If the products are unqualified because of improper
storage and maintenance during the term of validity, A should take full
responsibility.
4. Place of delivery: Drugstore of the Demander. Arrival date: The same date
informed by telephone.
5. Term of payment and deadline: Settle the account in a month after the goods
arrival.
6. Term of transportation and freight: Supplier in charge.
7. Inspection, acceptance and deadline: Demander inspects and accepts the
products in 3 days after receiving the goods. If any objection is raised about
the products, the demander should give a written proposal in 3 days after
receiving the goods. The products will be considered qualified after the
deadline.
8. Responsibility on break of contract: Both sides should strictly stick to the
terms mentioned above. If there is any breach of contract, the
party breaking the contract should pay compensation to the other party for
economic loss. If the demander pays the cost after the deadline, the
compensation for breach of contract will be paid according to 0.5% of the cost
for each day.
9. Terms resolving disputes: arbitration of the court in Nanning, the place of
supplier.
10. Other items agreed: Supplier offers the products in cost price.
11. Term of the contract: From October 1, 2003 to October 1, 2008
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Remark:
1. The contract will take legal effect after it is signed and must be
fully implemented by both sides. Any party is not allowed to vary or
terminate the contract without permission. When the variation is needed
for some reasons, both sides should sign another contract according to
laws after consultation.
2. The contract is in duplicate and each party holds one. It will take
effect after being
Signature
Supplier: Guangxi Tongji Medicine Demander: Nanning Tongji Hospital
Co. Ltd Co. Ltd
By: /s/ By: /s/
-------------------------------- -----------------------------
Authorized Officer Authorized Officer
Address : Xx.00 Xxxxx Xxxx,Xxxxxxx; Xxxxxxx & Xx.0 Xxxxx Road,Nanning;
Postal code: 530011 Postal code: 530011
Legal Legal
representative: Yun-xxx Xx representative: Yun-xxx Xx
Tel: 0000-0000000/00000000000 Tel: 0000-0000000
Fax: 0000-0000000/0000-0000000 Fax: 0000-0000000