Form of Purchase Contract with Supplier
Exhibit
10.7
Form
of Purchase Contract with Supplier
Amount_________________
REF
#
_________________
| Purchaser | Jinzhou Halla Electrical Equipment Co., Ltd. | |
| Seller | ____________________________________ |
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Item
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Clause
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Description
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1
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Production
standard
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Manufactured
strictly in accord with what is required in drawings provided by
the
purchaser
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2
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Regular
orders
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For
details one shall read the monthly executed order by both parties
for
information regarding quantity and delivery date
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3
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Delivery
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Seller
shall deliver in time to designated warehouse. Any damages caused
by
collision, wet and corrosion shall be the Seller's
responsibility
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4
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Packing
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Strictly
in accord with Purchaser's specification
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5
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Acceptance
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To
be accepted in accord with drawings and mutual-agreed
standard
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6
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Notice
and breaches
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In
case the Seller cannot deliver the product in time, a written notice
shall
be sent to the Purchaser twenty (20 ) days in advance, while a
notice
shall be sent to the purchaser two (2) months in advance if Seller
stops
its supply. And a six (6) months extension of supply may required
when the
substitute supplier cannot satisfy Purchaser's demand
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7
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Payment
Method
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The
Seller shall make the payment sixty (60) days after the purchased
item is
placed in the storehouse. The payment will be made by wire transfer
and
the amount of wire transfer shall constitute 40-50% of the
payment.
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8
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Responsibility
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The
delivery from Seller shall meet quality, quantity and time requirement
of
the Purchaser. Any damages to Purchaser's production caused by
delayed
delivery or poor goods quality shall be in the Seller's
account.
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9
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Confidentiality
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Any
design or technical specifications and inspection standards shall
be kept
in secret and cannot be disclose to any third parties
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10
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Exclusivity
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The
Seller shall not provide contracted products to any third
parties.
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11
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Punishment
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If
the Seller sold the contracted products to any third parties, the
penalty
will be RMB10.000 Yuan or 1.5 times of the breaching value whichever
is
larger
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12
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Ownership
of drawings and
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The
Purchaser has the ownership of the design and technical information
of the
contracted products. Once this contract is terminated, the Seller
shall
return these design and technical information and can not sell
the
contracted products or products made by using the Purchaser's technology
to any third parties. A charge at the amount of 1.5 times of the
sale
price may be impose on Seller by the Buyer if the Buyer breaches
the
contract.
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13
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others
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Other
matters will be decided in compliance with "Economic Contract Law"
and
relevant regulations The term of this contract is from ____________to
__________
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Buyer:
Jinzhou Halla Electrical Equipment, Co., Ltd.
Seller:
________________