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In the name of God
Contract
Date:
Number:9797/9882
Article 1- Parties of the Contract:
This contract is signed between ….. … … commercial company that is named the seller,
And on the other hand:
… … … Company that is named the buyer.
Article 2- Subject of the Contract:
Subject of the contract is to sell iron ore for one year with amount of 500.000 ton according to presented analyses.
Article 3- amount of the contract:
The price of iron ore with attached analysis to contract is … USD per 1 Ton totally 500.000 ton, the amount of … USD.
Article 4- Physical specification
Iron ore in ore type with 0-400 size and moisture content of 1%
Article 5-
SGS institute is obliged to declare quality of iron ore. (According to the contract attached analysis)
Article 6-
The seller is obliged to deliver 50.000 ton monthly (with the exception
of February and April due to country conditions and vacations)
6-1
The buyer must be ready to deliver total amount of the contract for 3-4 parts.
Article 7-
The buyer in first part will receive 45.000 ton iron ore and the rest,
5.000 ton, will be store in seller's warehouse as purchase guarantee of
next months, and will be delivered equal to 50.000 ton from second
part.
Article 8-
The buyer is obliged to pay for balance of delivering better quality goods according presented analysis to the seller.
8-1
In the event that iron ore are delivered in 0-30 size to the seller, the buyer is obliged to pay for balance of that.
Article 9-
Selling iron ore is as FAS (Free alongside Ship)
Article 10- Settlement conditions
Both Parties of the Contract reach the following agreement according the terms of settlement hereunder:
The buyer obliged to pay in advanced total amount of first part and in
return for ,submit the bank surety bond by specification of … … … to
the arbitrator .that will be returned to the seller after delivering
the first part .
After delivering first part and returning the surety bone from buyer
side, 30% of next part fee will be paid to the seller and in return for
,submit the other bank surety bond to the order which after delivering
each part , the buyer is obliged to settle account according to
presented documents .
Note 1: the mentioned documents are consisted of:
Invoice, Bill of landing and exportation license from Bandar abbas port's customs.
Note 2: amount of paid advance by the buyer at the delivering time of
first part, will be settled at the delivering time of last part by the
seller.
Article 11- packing type
According to agreement between two parties, the packing type is Bulk.
Article 12- loss and damage of contract (PBG) :
12-1 the specifications of check that is equal to 2.5 % of total amount of contract from the seller side are as follows :
Bank …. Branch …. Number ….. Sum … … … Dollar (…… ….. dollar in the
name of Mr / Company ………. ….. which will be submitted to the agreed
arbitrator in contract and if the seller does not deliver goods, this
check will be submitted to the buyer as the loss and damage.
12-2 the seller figured the received advance sum of 30% as PBG and If
the buyer does not buy the agreed goods in contract, after considering
by the arbitrator, the amount of loss and damages conflicted to the
seller will be calculated and the rest of it will be returned to the
buyer .
13- Force Majeure
If any Party does not or delays to fulfill the obligations in this
Contract directly or indirectly due to natural disaster which may not be
solved without additional cost and time, the Parties shall not bear
any responsibility for , provided that , these accidents included in
unpredictable and uncontrollable conditions and / or act or leaving act
by the parties will not be affected on occurring the disasters.
14- Arbitration
All disputes related to this Contract or due to implementation of this
Contract shall be solved by both parties through amicable negotiation.
If no agreement is reached, the dispute shall be submitted to the board
of arbitrators (one chosen by the seller, the other one chosen by the
seller and the third one as agreed arbitrator) according to the
following specification:
… … … .
The contract in 14 articles in 3 copies arranged and has equal legal force.
Signe and seal by:
The seller The buyer The order