Purchase and Sale Contract Name and Addresses of Parties (Seller and Buyer) This sales contract is made
and entered on April 18th, 2014 by and between the seller and buyer. The seller agrees to sell and buyer agrees to buy the under-mentioned products according to terms and conditions as stipulated below: Product Description and Product Specifications Dried Mexicana sea cucumbers, 10 kg Buyer specifications: 5-7% dried, each at least 15 cm in length Total Value: US $1000.00 based on the current rate of exchange of US dollars Port of Loading: Port-au-Prince, Haiti Inspection: Inspection to be conducted at port of loading before shipment by SGS or an internationally accepted independent inspection organization to be mutually acceptable by both the buyer and seller. Inspection will be based on international standards and buyer specifications. Packaging: In bulk vacuum packs as agreed. Tailored packaging will incur extra costs. Licenses and permits: At destination, all import licenses/taxes/levies/duties shall be the buyer's sole responsibilities. At the loading port, all export licenses/ taxes/levies/duties/documents shall be seller's sole responsibilities. Terms of delivery: Specify place of dispatch and delivery. Transfer of title to the goods occurs when seller delivers goods to the point of loading. Terms of payment: Buyer agrees to issue an irrevocable, transferable, and confirmed Documentary Letter of Credit by a top bank. Valid for 30 days after the B/L date and payable 100% at sight upon presentation of appropriate documents to the counter of the negotiating bank. Deposit Amount: 30% after signed contract Repeat Customers Discount: 25% after signed contract Insurance: Seller will be liable for damage of goods during transportation to the port of loading. Buyer will be liable for damage or destruction of goods during transportation. Force majeure: Neither party to the contract shall be held liable for breach of contract caused by act of God, insurrection or civil strife, military operations, or local emergencies. Both parties hereto accept the International provisions of Force Majeure and hardships as published by the International Chamber of Commerce. Arbitration: Both parties hereto shall attempt to amicably settle any disagreement or dispute which may arise between them. In case said dispute cannot be settled amicably, then it shall be submitted to arbitration in New York, London, or Paris at the choice by the defaulted party subject to international arbitration laws governed by the International Chamber of Commerce in Geneva, Switzerland or Paris, France. All costs of arbitration shall be borne by the defaulting party. The official language of arbitration shall be English. Signature of the parties
