Exhibit 10.14
SALES CONTRACT OF INDUSTRIAL PRODUCTS
-------------------------------------
NO.:
SIGNED AT: Tai'an
DATE: January 15, 2003
This contract is made and entered into by and between Xintai City Quangou Coal
Mine (hereinafter referred to as the Seller) and Shandong Shengda Chemical Co.,
Ltd (hereinafter referred to as the Buyer); whereby the Seller agree to sell and
the Buyer agree to buy the commodity mentioned in this contract subject to the
terms and conditions stipulated below:
Article 1: Object, Quantity, Price and Date of Delivery
NAME OF COMMODITY: Bituminous Coal
UNIT: ton
QUANTITY: 3,500
UNIT PRICE: ▇▇▇ ▇▇▇ ▇▇▇▇
▇▇▇▇▇ ▇▇▇▇▇▇: ▇▇▇ 1,102,500 (one million, one hundred and two thousand, five
hundred) yuan
DATE OF DELIVERY: 400 tons each month
Article 2: QUALITY STANDARD
The heat value shall be more than 5,000 kcal;
Article 3: TERMS AND TIME LIMIT OF QUALITY ASSURANCE OF THE SELLER: The sulfur
content shall be below 1.6% and the content of debris shall be less than 1.5%.
Article 4: SUPPLY QUANTITY REQUIREMENT: The monthly supply shall be kept in
balance.
Article 5: STANDARD FOR REASONABLE WEAR AND TEAR AND COMPUTING MODE: The
quantity shall be based on the weighing slip on the scale at the factory, and
any losses shall be responsible for the Seller itself.
Article 6: MEANS AND PLACE OF DELIVERY: The Buyer's coal stock.
Article 7: MODE OF TRANSPORAT AND DESTINATION AND COST ALLOCATION: The Seller
shall be responsible.
Article 8: STANDARD, METHOD, and PLACE AND TIME LIMIT OF INSPECTION: The check
and acceptance will be done according to the standards of the Buyer; if the
quality fails to meet the standards, it will be rejected.
Article 9: METHOD, TIME AND PLACE OF PAYMENT: Cash on Delivery and the payment
shall be done upon the weighing slip.
Article 10: TERMINATION OF THIS CONTRACT: When the two parties both find it hard
to perform this Contract.
Article 11: BREACH LIABILITY: shall be governed by the provisions of the
Contract Law.
Article 12: METHOD OF SETTLING THE DISPUTE OVER THE CONTRACT:
IN THE PERFORMING OF THIS CONTRACT, IF ANY DISPUTE ARISES, THE TWO PARTIES SHALL
SETTLE IT THROUGH FRIENDLY DISCUSSIONS; THE DISPUTE CAN ALSO BE MEDIATED BY THE
LOCAL INDUSTRIAL AND COMMERICAL ADMINISTRATION; IF NO SETTLEMENT COMES FROM THE
DISCUSSIONS OR MEDIATATIONS, THE DISPUTE SHALL BE SETTLED BY LAWSUITS THROUGH
THE PEOPLE'S COURT.
Article 13: THIS CONTRACT SHALL BECOME EFFECTIVE after having been officially
signed by the two parities.
THE SELLER: THE BUYER:
Xintai City Quangou Coal Mine Shandong Shengda Chemical Co., Ltd
/s/ ▇▇▇ ▇▇▇▇▇▇▇ /s/ ▇▇▇▇ ▇▇▇
----------------------------- ----------------------------------
AUTHORISED SIGNATURE AUTHORISED SIGNATURE