This Agreement is entered into between _______ Co. (hereinafter referred to as the Consignor), having its registered office at _______, China and ________CO. (hereinafter referred to as the Consignee), having its registered office at_______, on the following terms and conditions:
1.The Consignor shall from time to time ship ______________ (commodity) to the consignee on Consignment basis at the prevailing international market prices on CIF terms. The interval between each shipment shall be approximately ninety days.
2.The Consignee must try to sell the consignments at the best possible prices after obtaining the approval of the Consignor as to price, terms, etc.
3.Each shipment by ship at the initial stage will not exceed U.S.D_______and the outstanding liabilities on the Consignee shall be in the vicinity of not more than U.S.D. _______ only.
4.The Consignor shall at no time be responsible for any bad debts arising out of credit sales to any _______ buyers. Making payments to the Consignor shall at all times be the sole responsibility of the Consignee.
5.The Consignee shall accept the Bills of Exchange drawn by the Consignor on him at 90 days'sight with interest payable at ________ % per annum.
6.The Consignee shall collect the shipping documents including B/L from the Consignor's bank against Trust Receipt duly signed by the Consignee.
7.The Consignor shall absorb insurance premium and warehousing charges up to the date of delivery to customers.
8.Arbitration:
Any dispute arising from or in connection with the Contract shall be settled through friendly negotiation. In case no settlement is reached, the dispute shall be submitted to China International Economic and Trade Arbitration Commission (CIETAC), South China Sub-Commission, for arbitration in accordance with its rules in effect at the time of applying for arbitration. The arbitral award is final and binding upon both parties.
9.This Contract is executed in two counterparts each in Chinese and English, each of which shall deemed equally authentic. This Contract is in ______ copies, effective since being signed/sealed by both parties.
A Co: _____________ B Co: ____________
(signature) (signature)