Article 4 : Payment
4.1 By T/T remmitance to the Benificary’s account No:
Name: Ningbo Wanbo welding materials Co.,ltd
With the Bank : Swift code :
Address:
4.2 The Seller shall send one set of original shipping documents directly to the Buyer for customs clearance by DHL(3 original invoices, 2 original packing lists, original B/L, C/O) within 4 days after shipping date.
Article 5 : Force Majeure
5.1 The Seller is not responsible for the late delivery or non-delivery caused by the contigencies beyond his control such as, but not restricted to war, fire, acts of god, govermental regulations or other events beyond the control of the Seller.
5.2 In the events of force majeure, the Seller shall inform the Buyer immediately by telex or cable and send to the buyer wthin 15 days by registered mail a certificate of force majeure issued by the Chinese Chamber of Commerce and Industry at the place where the force majeure occurs.
Article 6 : Arbitration
In case of dispute and if the contracting parties can not reach an amicable settlement of any claim and dispute concerning this contract within 60 days from its occurence, the case shall be tranfered to the International Arbitration Committe at the Viet Nam Chamber of Commerce and Industry for final settlement.
The ICC rules and practices shall be governed, the award of the International Arbitration Committe(VCCI) shall be final and biding upon both parties.
All of the fees and expenses incurred in this arbitration shall be borne by losing party.
Article 7: Other conditions
Any amendment or supplement to this contract shall be valid if they are in writing and signed by both contracting parties through email. This contract will come into force after being signed by both contracting parties through email. It is drawn up in 2 copies in English of equal authencity. One of which retained by each party.
For and on behalf of the Buyer For and on behalf of the Seller