Exhibit 10.32
Construction Contract
In accordance with the principle of openness, impartiality and fairness, the
public bidding meeting on the Foundation for Equipments of the Triamine Workshop
of Shandong Bangsheng Chemical Co., Ltd. was a full success. Through friendly
negotiation, Shandong Bangsheng Chemical Co., Ltd. and Chen Houzhi, the
successful bidder, agree to establish this contract. The parties hereby agree as
follows:
Party A: Shandong Bangsheng Chemical Co., Ltd. (hereinafter referred to as
"Party A")
Party B: Chen Houzhi (hereinafter referred to as "Party B")
I. Project Name: Foundation for Equipments of the Triamine Workshop
II. Place of Construction: Within the premises of Party A
III. Scope of Construction:
All civil engineering works including concrete pouring, leveling blanket
laying, steel binding, template support, float work and laying.
IV. Type of Contract: Contract for labor and materials
V. Projected Engineering Work Load:
Independent foundation: concrete pouring__ m3, earthwork digging __m3,
stone footing __m3, plastering __ m3, ironware burying __tons.
VI. Construction Period: At the request of Party A, the construction shall be
completed within 30 days after the signing of this contract.
Construction Cost: Construction payment shall be done in line with the
State's current construction flat rate and other related documents.
Projected Construction Cost: RMB 80,000 (eighty thousand) yuan.
The final payment shall be based on the actual volume of works.
VII. Mode of Payment:
30(C)++ of the total construction cost shall be paid within 10 days after
the equipment and staff of the unit in charge of construction arrive the
construction site and come into operation; 30(C)++ of the total
construction cost shall be paid after the main body of the construction is
completed; 30(C)++ of the total construction cost shall be paid after the
construction has been checked and accepted; the remaining 10(C)++ shall be
paid off at a single payment within one year after the completion of
construction, henceforward this contract shall become self-annulled.
VIII. Quality Requirement and Acceptance Criterion:
1. Quality Grade Standard: superior
2. Party A provides construction site featured "three put through one
level", and a construction map. Party A is also responsible for the
joint checkup of the blueprint before starting.
3. During construction, Party B shall carry out construction strictly
in adherence to the technological requirements of the blueprint and
other related standards and make sure to clear the construction site
after finishing the work.
4. Modification of Design: Both parties shall agree on a new
construction cost based on the actual modification.
5. Acceptance inspection of this construction shall subject to the
requirements of Party A and the blueprint.
6. Party B shall be submissive to the quality supervision and
administration of the supervisor. The supervisor shall come up with
suggestions regarding the quality of construction on which the
improvement should be based and efforts should be taken to achieve
satisfactory quality.
IX. Safety Responsibility:
During construction, Party B shall work out related safety rules which
shall be strictly followed and prevent any things in the nature of
violating the basic three work safety rules. Should an injury on duty
happen, Party A should give help in immediate rescue. All responsibilities
and expenses shall be shouldered by Party B.
X. Rights and Obligations of both Parties:
1. This contract has legal effects. Neither Party shall deliberately
terminate or modify the contract; otherwise it is regarded as a
breach of this contract. The party in breach shall pay the other
Party 3(C)++ of the total construction cost as penalty.
2. Party A only provides Party B with the blueprint, technology
information and other main materials needed for the construction.
Other machinery, equipment and tools shall be provided by Party B
itself.
3. Party B shall guarantee the quality of construction and conduct
quality control during the construction. If some work has to be done
again as a result of quality failure, Party B shall bear all
economic losses. If some work has to be done again due to the
misplay of any of the technical instructions by Party A, Party A
shall bear the responsibility.
4. During construction, Party B shall abide by rules and regulations
and be obedient to Party A's management, and complete construction
in time. A reward/penalty of RMB 2,000 yuan is implemented for each
day ahead of / behind the deadline. The construction period could be
correspondingly prolonged in case of the force majeure or a rain or
snow lasting for over 4 hours. If the construction is suspended or
delayed because the quality failure results in the stop of the work
or the work has to be rectified and improved as the company in
charge of the supervision so demands, the construction period shall
not be prolonged.
5. After the project is contracted by Party B, it shall not subcontract
the construction to a third party in any form or by any reason.
Otherwise, it would be deemed as a breach of this contract. After
completing the contract, Party B shall hand in to Party A an
application for an acceptance inspection in written form. After the
construction got accepted, Party B shall provide an acceptance
report of construction.
XI. Settlement of Disputes:
Both parties shall conduct sincere cooperation and settle disputes of
construction through friendly negotiation. If the negotiation fails,
either Party could take the dispute(s) to the local people's court.
XII. This contract shall become effective upon the signature and seal of both
Parties.
XIII. This Contract has two originals, and each party shall hold one copy.
Party A: Shandong Bangsheng Chemical Co., Ltd. (seal)
Legal Representative: /s/ ▇▇ ▇▇▇▇▇▇
Party B: Chen Houzhi
Legal Representative: /s/ Chen Houzhi
Date: April 1, 2005