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Contract of Tianjin Bohai Commodity Exchange for E-Spot Trading of RSS3 (RV) Buyer: (transaction code) (dealer’s name) Seller: (transaction code) (dealer’s name) The contract is signed upon the delivery matching MM/DD/YY The contract belongs to the sales contract made by and between the seller and buyer in accordance with Tianjin Bohai Commodity Exchange (hereinafter referred to as the "Exchange")'s Bohai Exchange Spot Trade (BEST) Rule, so that the spot trade of RSS3 (RV) could be conducted through the Exchange's e-trading system. The contract is automatically generated upon the successful matching by the E-trading system of the Exchange. Whereas: 1. As approved by the Exchange, both the seller and the buyer become the dealers thereof and sign the Trading Agreement of Tianjin Bohai Commodity Exchange with the Exchange; 2. Both the seller and the buyer have carefully read and fully understand the Management Method for Spot Trading at Tianjin Bohai Commodity Exchange and agreed to abide the relevant stipulations by the Exchange. In accordance with the Contract Law of the People's Republic of China, Interim Procedures for Supervision on the Trading Market of Tianjin Bohai Commodity Exchange issued by Tianjin Municipal People's Government and the Exchange's related rules, the contract is made by and between the seller and the buyer in the principle of equality, voluntariness, fairness and credibility. I. Traded commodity 1.1 Commodity name: RSS3 (RV) 1.2 Commodity code: BRSSRV 1.3 Commodity information: Country of origin: _______ Brand name: _______ II. Quantity The quantity of RSS3 successfully matched by applying for delivery by the seller and the buyer through the Exchange's e-trading system (unit: ton) . III. Delivery settlement price The delivery settlement price of the contract hereunder is _____ Yuan (RMB/ton) (accurate to integer), equivalent to _____ dollars (USD/ton) (accurate to two decimals) according to the foreign exchange rate of the day. Both the buyer and the seller shall make payment based on the delivery settlement price. The delivery settlement price of the day refers to the weighted average price of RSS3 calculated as the trading volume on which the delivery matching is successfully made, which is the commodity price stored in the approved delivery warehouse. IV. Delivery site The delivery site of the contract hereunder is at ___ V. __. Quality standards After the identification and release by the Exchange market, for the RSS3 to be delivered, the quality shall meet the following standards: 5.1 The underlying product is imported Ribbed Smoked Sheet (RSS3), which shall be in accordance with International Standards of Quality and Packing for RSS3 Grades regulated by IRQPC (the Green Book revised in 1979). 5.2 The imported RSS3 product to be delivered is valid for 18 months since the day on which the commodity inspection certificate is issued. The quality inspection certificate (or inspection report) for stored RSS3 is valid for 6 months since the day it is issued. After expiration, such certificate shall be re-tested for the next delivery. 5.3 The Warehouse Receipt of RSS3 (RV) is valid for 6 months and will be automatically cancelled if it expires. The dealer holding Warehouse Receipt may re-apply for Warehouse Receipt before it expires. 5.4 For Each Warehouse Receipt thereof, it shall have the same band, same quality standard, and the same batch number. 5.5 The RSS3 is wrapped with thin sheet; the weight for each delivery batch shall be the same with a delivery unit containing 9 lots of 111.11 kg per unit. 5.6 The Warehouse Receipt is measured in 10 tons per order or an integral multiple of that. 5.7 The delivery weight for RSS3 represented in each warehouse receipt shall be 10 tons or a number of integral times. VI. Cash deposit In order to guarantee the successful implementation of the contract, when entering into the contract, the cash deposit is paid by the seller and the buyer in accordance with the Management Methods for Spot Trading at Tianjin Bohai Commodity Exchange and Details Rules of Tianjin Bohai Commodity Exchange for Clearing. The cash deposit is 20% of total contract value based on the settlement price of which the delivery is successfully matched. VII. Payment settlement After entering into the contract(after successfully matched), the settlement of payment is conducted in accordance with the Management Methods for Spot Trading at Tianjin Bohai Commodity Exchange, Detailed Rules of Tianjin Bohai Commodity Exchange for Spot Trading of RSS3(RV) and Notes of Tianjin Bohai Commodity Exchange on Foreign Currency Settlement for Spot Trading of RSS3 (RV). VIII. Delivery system charges When conducting physical delivery, both the buyer and the seller agree to pay 5 Yuan/ton to the Exchange as delivery system charges. IX. Change of ownership When the physical delivery is made between the seller and the buyer, the seller shall provide the buyer with full set of relevant documents in accordance with the Measures of Tianjin Bohai Commodity Exchange for Spot Delivery of RSS3 (RV), so as to assist the buyer to complete the change of ownership or customs clearance. X. Liability for breach of the contract 10.1 In accordance with the Management Methods for Spot Trading at Tianjin Bohai Commodity Exchange and the related rules of the Exchange, the buyer is deemed to breach the contract in case of one of the scenarios occurs as follows: 10.1.1 Failing to timely pay sufficient cash deposit or payment to the Exchange; 10.1.2 Failing to submit the documents required for ownership change and customs clearance and within the specified time; 10.1.3 Failing to submit the remittance documents required by the bank within the specified time. 10.2 In accordance with the Management Methods for Spot Trading at Tianjin Bohai Commodity Exchange and the related rules of the Exchange, the seller is deemed to the breach of the contract in case of one of the scenarios as follows: 10.2.1 Failing to timely and sufficiently submit the cargos corresponding to Warehouse Receipt; 10.2.2 The delivered commodity is inconformity with the quality standards as specified in the contract; 10.2.3 Failing to timely submit the full set of relevant documents to affect the change of customs ownership or customs clearance; 10.3 XI. As any party herein violates the contract, the default party shall bear the liability for breach of the contract to the observant party in accordance with the Management Methods for Spot Trading at Tianjin Bohai Commodity Exchange and related rules of the Exchange. Exemption clauses 11.1 In case of the earthquake, typhoon, fire disaster and the significant change of state's policy or the force majeure where the contract is not fully or partially implemented. The liabilities thereof shall be fully or partially exempted according to the influence of force majeure. In case that failing to implement the contract owing to the force majeure, one party shall timely inform the other party. 11.2 If the contract is not fully or partially implemented due to the policy and legal cause, each party herein could be fully or partially exempted from the liabilities. XII. Contract signing 12.1 Both the seller and the buyer could input the transaction password through their dealer's seat to enter the Exchange's e-trading system. The contract shall come into force on the day when it is established. 12.2 The transaction code, trading time and transaction password corresponding to the contract shall be deemed as the electronic signatures of both the seller and the buyer. XIII. Other clauses 13.1 The unexhausted matters herein shall be implemented by both the seller and buyer in accordance with the Management Methods for Spot Trading at Tianjin Bohai Commodity Exchange and related rules of the Exchange. 13.2 Any disputes arising from or related to the implementation of the contract shall be solved by the seller and the buyer through friendly negotiation or mediated by the Exchange; if such disputes are not solved through negotiation, they shall be submitted to Tianjin Arbitration Committee for arbitration. 13.3 After the contract concluded, it will be saved as data message in the server of the Exchange’s e-trading system. The Exchange may provide papery contract to either party if applying by written application. 13.4 The contract is interpreted by the Exchange according to the rules as stipulated. 13.5 Two copies of this Contract separately held by both parties and the faxed copy and the original shall have equal legal effect. 【Exchange Announcement】 This contract is designed for conducting RSS3 (RV) e-spot trading for both parties after delivery application and successful matching by the Exchange’s e-trading system. Hereby confirm. The Seller: (Seal) Legal Representative (Signature) (Or Authorized Agent) The Buyer: (Seal) Legal Representative (Signature) (Or Authorized Agent)