SALES AGREEMENT
BETWEEN
Yanbu Specialized Chemical Plant (YASCP), a sole proprietorship establishment
and exists under the Laws of the Kingdom of Saudi Arabia with Commercial
Registration number having its address at Yanbu Industrial City ,
Alnawah Commersial center, second floor, P.O.BOX : 30401 Tel: +96643962580
,cell: +966500128019 , Skypy : yascpl4 , E-mail : savedih@vascp.com , website
:www.yascp.com
AND
International techno chemical co., a company formed and exists under the Laws of
the JORDAN - having its address at AMMAN- JORDAN , university street, malak
complex no.21 office number 402 , P.O. Box 940908 AMMAN 11194 JORDAN
hereinafter referred to as the "Purchaser".
Both Supplier and Purchaser may individually refer to as the Party and collectively as the
Parties.
WITNESSETH:
Whereas, the Supplier is a manufacturer of hydrochloric acid & potassium suphate in
Yanbu in the Western Province, Saudi Arabia and has the necessary license to sell,
supply and distribute their"Product" and
Whereas, the purchaser is ready to buy from the Supplier his production for the price and
subject to the terms and conditions contained herein,
Now, therefore, in consideration of the mutual covenant and agreements hereto contained
and for other good and valuable consideration, duly received, The Parties hereto agreed
as follows;
1. DEFINITIONS AND INTERPRETATION
1.1
Whenever used in this Agreement the schedules hereto or any auxiliary document hereto,
the following terms, unless the subject matter or contract otherwise requires, shall have
the following meanings:
1.1.2
"Agreement" means or refers to this Supply Agreement as amended from time to time
and any agreement addendum, instrument supplemental, auxiliary hereto or in
implementation hereto.
1.1.3
"Person" means any individual, cotipany, sole proprietorship, government body or entity
whatsoever designated or constituted and
1.1.4
"Product" means or refers to "POTASUM SULPHATE &H YDROCHLORIC ACID "
sold pursuant to this Agreement.
1.2
Words importing the regular numbers include the plural and vice versa.
1J
The division of this Agreement into article and insertion of headings is for conveniences
and reference only and shall not affcet the construction or interpretation of this
Agreement.
1.4
All currencies stated in this Agreement WILL BE in USD unless it is expressly stated
otherwise in the Agreement.
1.5
The above preambles hereto form an integral part of this Agreement.
2. SALE AND PURCHASE OF THE PRODUCT
The Supplier hereby agrees and undertakes to sell to the Purchaser, and the Purchaser
agrees and undertakes to purchase Irom the Supplier for the agreed price and subject to
(he terms and conditions contained herein, the total amount of I t>(¥) ton potassium
sulphate and 750 ton hydrochloric acid of "Product" EVERY MONTH during the term
of this Agreement.
3. ORDERS AND DELIVERY OF THE PRODUCT
3.1 The purchaser prepare monthly lifting schedule for Product to be purchased
pursuant to this Agreement shall be in writing and shall be sent on the last week
of every month to the address of the Supplier by D.H.U.couricr, fax, e-mail or in
such other manner expressly agreed upon between the Parties.
3.2 Unless otherwise expressly agreed upon between the Parties. The Supplier
shall sell and deliver the purchased Product ex-work factory to the Purchaser.
3.3 Unless otherwise expressly agreed upon between the Parties delivery of the
Product purchased hereunder shall be delivered as per agreed monthly lifting
schedule.
3.4 In the event that the Supplier fails for 2 week successive days to deliver any
Product requested in monthly lifting schedule within the period provided in
subsection 3.3 herein above, the Purchaser shall be entitled to purchase from a
third party a quantity of Products equal to quantity of Products specified in such
monthly agreed lifting schedule. The Supplier shall in such case compensate the
Purchaser for the same quantity stated in the monthly lifting schedule in the
remaining days of the month.
3.5The title to the Product sold hereunder shall pass from the supplier to
the Purchaser upon payment of the purchase price of the Product mentioned in
Section 4 hereunder. The risk of lost and damage to such Products sold hereunder
shall pass from the Supplier to the Purchaser at the time of the delivery of the
Product.
4. PRICE OF PRODUCTS
4.1 For the initial term of this Agreement set forth in sub-section 6.1
hereinafter the price of the Products sold by the Supplier to the Purchaser
hereunder shall be market price for first three monthes and will be reviewed and
agreed every three monthes
4.2The process of the Product determined pursuant to this Section 4 shall ex-work
factory delivered prices.
5. TERMS OF PAYMENT
5.1 Unless otherwise agreed upon between the Parties as set forth under sub-
section 5.1 herein under the Purchaser on last week of each month should prepare
monthly lifting schedule showing monthly quantities needed for next month
attached w