Credit Contract between Foreign Buyer and Chinese Seller
This Credit Contract (the “Contract”), is made and entered into on this ___ day of ____, ___， by and between ____ (“Chinese Seller”) and ____ (“Foreign Buyer”)（collectively the “Parties”).
The Parties agree as follows:
1. Recitals
A. Chinese Seller desires to sell and deliver certain goods to the Foreign Buyer (the “Goods”), as further detailed in Exhibit A attached hereto and made a part hereof.
B. The Foreign Buyer desires to purchase the Goods from the Chinese Seller, in exchange for payment of the applicable purchase price in accordance with the terms and conditions set forth in this Contract.
2. Purchase and Sale of Goods.
A. The Chinese Seller agrees to sell and deliver, and the Foreign Buyer agrees to purchase and receive, the Goods and all additional materials, tools, and devices necessary for completion of the Goods in accordance with the terms and conditions set forth in this Contract and addendums thereto.
B. The Foreign Buyer agrees to pay the Chinese Seller the purchase price of the Goods set forth in Exhibit A (“Purchase Price”).
C. The Chinese Seller agrees to deliver and the Foreign Buyer agrees to receive the Goods in accordance with the terms and conditions of this Contract and addendums thereto.
3. Delivery
A. The Chinese Seller shall deliver the Goods to the Foreign Buyer in accordance with the delivery date set forth in Exhibit A.
B. If the deadline for delivery is not met for any reason, either party may immediately terminate this Contract without prejudice to any other rights, remedies or obligations that may be available by law.
4. Payment
A. The Foreign Buyer shall pay the Purchase Price to the Chinese Seller in full and on time.
B. In the event that the Foreign Buyer fails to make payment on the due date, the Chinese Seller shall have the right to terminate this Contract.
5. Taxes
The Foreign Buyer shall be responsible for paying all applicable taxes and duties associated with the purchase and sale of the Goods.
6. Quality and Warranty
A. The Chinese Seller warrants that the Goods delivered hereunder shall conform to the applicable standards for such Goods set forth in the applicable specifications.
B. The Chinese Seller shall guarantee the Goods for a period of __ months from the date of delivery, subject to the provisions of this Contract.
7. Default
A. In the event that either Party shall fail to perform or observe any of the provisions of this Contract, the other Party shall have the right to immediately terminate this Contract upon written notice.
B. In the event of a termination of this Contract due to default under this Contract, the non-defaulting Party shall be entitled to receive any and all costs associated with such breach, including, but not limited to, attorneys’ fees and court costs.
8. Adjudication and Arbitration
A. The Parties hereby agree that any and all claims, disputes and causes of action arising out of or relating to this Contract shall be adjudicated by final and binding arbitration in accordance with the laws and regulations of the relevant jurisdiction.
B. The Parties understand that any arbitration shall be conducted in accordance with the applicable local laws and in compliance with the applicable international arbitration rules.
9. Miscellaneous
A. This Contract shall be governed by the laws of the relevant jurisdiction, without regard to its conflict of law provisions.
B. This Contract contains the entire agreement between the Parties and supersedes all prior agreements or understandings, whether written or oral.
C. Any amendments or modifications of this Contract shall be in written form and must be signed by both Parties.
IN WITNESS WHEREOF， the Parties have executed this Contract as of the date first set forth herein.
Chinese Seller:
________________________________________
Signature
Foreign Buyer:
______________________________
Signature
Exhibit A
1. Goods:
2. Purchase Price:
3. Delivery date:
and
