Chinese and foreign goods sales contract (CFR or CIF terms)

SYNOPSIS OF SALES CONTRACT

This SYNOPSIS OF SALES CONTRACT (the “Contract”) is made and entered into on the date mentioned below (the “Effective Date”), by and between [Company Name], a [Country] corporation (the “Seller”) and [Buyer], a [Country] company (the “Buyer”).

Seller agrees to sell and deliver to the Buyer and Buyer agrees to purchase from Seller and accept delivery of [product name]. In consideration of the payments and other benefits provided herein, Buyer agrees to make payment to Seller in accordance with the terms and conditions of this Contract.

PARAGRAPH1. SPECIFICATIONS AND QUANTITY

The product details and quantity are provided in the table attached to this Contract as Attachment A.

The Seller shall deliver the products in the quantity, quality and in accordance with the specifications as detailed in Attachment A.

PARAGRAPH2. DELIVERY

In accordance with INCOTERMS 2020, the Buyer shall purchase the products on the basis of CFR (Cost and Freight) or CIF (Cost, Insurance and Freight). The Seller shall be solely responsible for providing the products to the destination specified in the Contract.

The delivery of the products will take place within [x] days of signing this Contract.

PARAGRAPH3. PACKING AND LABELING

Seller shall ensure that all packaging, labeling and mark of containers are in accordance with international regulations and standards, and comply with any applicable laws and regulations.

PARAGRAPH4. BUYER’S OBLIGATIONS

Buyer will be obliged to keep the Buyer’s factory officers available at reasonable times during daytime to inspect the products and their packing and execute clearance of the goods.

PARAGRAPH5. PAYMENT

The Buyers shall pay [xx %] of the purchase price upon signing of this Contract and [xx %] of the purchase price upon delivery of products.

PARAGRAPH6. WARRANTIES

The Parties hereby agree that the product will be provided in accordance with the specifications, terms, and conditions as specified in Attachment A. Seller warrants the products purchased are new and free from defect, manufactured in compliance with good industry standards and comply with the applicable standards and specifications.

PARAGRAPH7. FORCE MAJEURE

Neither party shall be liable for any delay or failure in the performance of any obligation in this Contract due to any cause beyond its control, such as war (declared or not), fire, flood, act of God, labor disturbance, and any act of government or any agency thereof, provided that the delayed or failing party shall promptly notify the other in writing and take all reasonable actions to minimize delays and effects.

PARAGRAPH 8. GOVERING LAW, DISPUTE RESOLUTION AND JURISDICTION

This Contract shall be governed by the laws of [Country]. Any dispute, controversy or claim arising out of or in connection with this Contract, or the breach, termination or invalidity thereof, shall be settled amicably between the parties as far as possible before recourse is had to any court of law or arbitration.

IN WITNESS WHEREOF, this Contract has been signed by each party on the date below:

Name: _______________________________________

Signature: ____________________________________

Date: ________________________________________

，根据中外货物买卖CFR或CIF条款编写

A CFR or CIF contract is a trade agreement between a seller and buyer for the international sale of goods. The seller agrees to deliver the goods to a named destination, and the buyer agrees to pay for delivery including all non-insurance transportation costs from the sellers place of loading.

Under a CFR contract, the seller is responsible for arranging the transport, navigating through customs and other carriers, and loading and unloading the goods at the port of destination. The buyer is responsible for payment of the cost of freight and other transport costs as well as any insurance charges.

Under a CIF contract, the seller is also responsible for arranging the transport, navigating through customs and other carriers, and loading and unloading the goods at the port of destination. In addition, the seller is responsible for procuring insurance covering the risk of loss or damage to the goods until the buyer takes ownership of them.

In both CFR and CIF contracts, the buyer is responsible for all costs incurred after the goods have been delivered to the named destination. This includes any duties, taxes, or other charges payable on the goods in the destination country.

Both CFR and CIF contracts are common when trading internationally. However, each has its own advantages and disadvantages, which should be carefully considered by both parties before entering into a trade agreement.