5.3
5.3The Parties may after six month from the date of the first invoice mutually
change terms of payment to serve their mutual trust and future relationship by
signing an addendum to this Agreement specify the revised terms of payment.
6. TERMS OF AGREEMENT
6.1 Subject to the provision of sub section 6.2 hereinafter, this Agreement shall be
in force for an initial term of two year to commence as 1st March 2016 (for
the50% of the quantity) AND of 1st JULY 2016 (for the 100% of the quantity)
6.2This Agreement shall be automatically renewed for another similar
consecutive period of time terms unless either Party serve a 60 days written notice
to the other prior the end of the term of its intention not to renew the Agreement.
7. TERMINATION OF AGREEMENT
Notwithstanding the provisions of sub-section 6.1 and 6.2 of the Agreement either Party
shall be entitled to terminate this Agreement at any time without serving notice to
the other to that effect in the event;
7.1 That the other Party commit and act of bankruptcy, is declared bankrupt, he
becomes insolvent or make an assignment of alL its property for the benefit of its
creditors; or
7.2That the other Party proceeds with its dissolution and / or liquidation; or
All obligations and liabilities of the Parties accrued on the date of termination of the
Agreement under Section 7 shall survive such termination.
8. PRODUCT, QUANTITY AND QUALITY
8.1 The Product subject matter of this Supply Agreement shall be "POTASUM
SULPHATE &HYDROCHLORIC ACID" wherein the Supplier shall supply the
Products to the Purchaser according to the specifications as set forth herein in this
sub-section and as per the attached specifications to this Agreement,
8.2The quantity of Products to be delivered to the Purchaser shall be
1000MT/MONTHLY OF POTASUM SULPHATE & 750 /MONTHLY OF
HYDROCHLORIC ACID to be delivered according to an agreecj^gaeathly. lifiting
schedule issued from the Purchaser to the Supplier