Payments under this contract are made in freely convertible currency - US DOLLARS or in EURO.
PRICE
The price for the goods supplied under this contract is established in US dollars, for each individual lot, in accordance with the conditions specified in the Appendix to this Contract. Contractual discount, transport, packaging, labeling and steel tapes are included in the cost of goods. All expenses related to the registration of the accompanying documents to the DAP station Dostyk (exp.), KZH (708507) further station Alashankou; (INCOTERMS 2010), including transportation, are assumed by the "Seller".
THE TERMS OF PAYMENT
Payment for the Goods sold under this Contract shall be made in US DOLLARS or in EURO in accordance with the payment terms specified in the Appendix to this Contract.
CLAIMS AND PENALTIES
● Claims on the quantity and quality of the goods delivered by the Seller are presented by the Buyer no later than 30 days from the date of delivery of the goods on the basis of the following documents drawn up with the participation of representatives of the competent organization agreed by the parties:
- Certificate of expertise with indication of the date, place and methodology of sampling and analysis (Sampling and analysis should be carried out by the method adopted in the country of the Seller, if necessary, involve the services of an independent inspection of SGS.
- In case of disagreement on the quality and quantity of the Goods, the results of the reports of the independent international inspection company (SGS) (or other agreed by both parties of the company) are considered final and binding on both Parties. The inspection can be carried out at the place of shipment and / or discharge of the Goods.
- The commercial act of the transport organization-carrier;
- Certificates of quantity and quality (a single shipping document of the manufacturer).
Documents are submitted in Russian and are considered by the Seller within 10 days from the date of their receipt.
● In case of incomplete delivery of the goods within 10 days from the date of drawing up the reconciliation certificate between the Seller and the Buyer, the Seller returns to the Buyer the difference from the payment received, depending on the quantity of the Goods delivered to the Buyer.
● In the event of payment delays of more than 5 banking days after the Seller has informed the Purchaser of the readiness for shipment, the Buyer will pay at the Seller's request a fine of 0.02% of the amount payable for each day of delay, but not more than 2% (two) of the cost of a monthly batch of goods for delivery.
● In case of delay due to the fault of the Seller more than 15 days after the receipt of the letter of credit, the Seller will pay the fine at the Buyer's request in the amount of 0.02% of the paid amount for each day of delay, but not more than 2% (two) of the cost of a monthly batch of goods for delivery.
● All fees arising from the attraction of additional cars, as well as the penalty specified by the railway office for not using the main railway plan. Will be paid by the party responsible for such distribution. Payment of a fine does not exempt the Buyer and the Seller from the performance of contractual obligations.
● The seller reserves the right notifying the Buyer, cancel the contract if the Buyer does not fulfill contractual obligations on the issue of a letter of credit in favor of the Seller for more than 7 (seven) calendar days.
● The Buyer also reserves the right to notify the Seller of the cancellation of the contract and the invoice for payment of the contractual obligations, more than 15 (fifteen) calendar days from the date of receipt of the bank Letter of Credit (L / C) from the Buyer's bank to the Seller's bank in favor of the Seller penalties, as well as reimbursement of all bank charges for issuing a letter of credit.
THE PROPERTY RIGHT And RISK
The property right of the goods passes from the Seller to the Buyer upon payment of 100% prepayment for the batch of the goods for dispatch. Risk on the goods pass from the Seller to the Buyer per Incoterms-2010.
FORCE MAJEURE
The parties shall be temporarily relieved from any responsibility for their failure to perform their obligations hereunder, or any of them, if such failure results from force majeure circumstances, namely:
- - Natural disasters (earthquakes, floods, etc.);
- military actions, blockades or armed conflicts (regardless of whether a war is declared or not);
- accidents at enterprises, transport systems, leading to a long time to stop production;
- - Adoption of prohibitive governmental decisions.
1. The party that becomes unable to perform its obligations hereunder shall notify the other party of the advent and the cessation of the circumstances preventing it from such performance, within 3 days.
2. Certificates issued by competent governmental bodies of the Parties shall be proper evidence of the above circumstances and their duration.
3. If the above-mentioned circumstances last more than 30 days, the party for which the performance of the contractual obligations becomes impossible, has a right to inform other party about cancellation of the contract.
4. If at the moment the Seller announces force majeure there is paid but not shipped quantities of the goods, by all outstanding goods the part of an advance payment should be immediately paid to the Buyer in EURO by the wire transfer within 30 days.
5. Force majeure circumstances do not work on the goods has been shipped to the Buyer.
6. In a case of force majeure any of the parties has no the right on excitation of the claim to other party about compensation of the possible losses.