CONTRACT FOR FERTILIZER
No: 184-HĐ/BSV
Place and Date: Hochiminh city, May 15th, 2019
Between: Phuc Hung Agriculture Company, Ltd.
Address: Hung Phat Hamlet, Tan Hung Ward, Hon Quan District, Binh Phuoc Province
Tel: +84-988-916886
Represented by Mr. Tran Ngoc Uynh
Hereinafter called The Buyer
And: Nastraco Indonesia Co. Ltd.
Address:JL. S.M. Raja No. 90-C Binjai, North Sumatera
Tel: +62-61-8820150
Represented by Mr Suharto Susilo
Hereinafter called The Seller
It is mutually agreed between both parties to sign this contract with the terms and specifications specified
hereunder:
ARTICLE 1: COMMODITY & SPECIFICATION
1.1 Commodity: UREA FERTILIZER
1.2 Origin: INDONESIA
1.3 Specification: - Nitrogen: 46% min.
- Moisture: 0.5% max.
- Biuret: 1.0% max.
- Color: White
- Free flowing: treated with Anti- Caking
1.4 Packing: - 50 kg net in Polypropylen Woven bag with polythylene inner liner - 2% of total bag as
empty spare bags to be supplied free of charge
ARTICLE 2: UNIT PRICE - QUANTITY & TOTAL AMOUNT
2.1 Unit price: USD 178/ MT C&F Hochiminh City Port
2.2 Quantity: 10,000 MT ( plus or minus 10% at seller's option)
2.3 Total amount: USD 1,780,000 (+/- 10% at seller's option)
Say: US Dollars one million seven hundred eighty thousand.
ARTICLE 3: SHIPMENT - DELIVERY
3.1 Time of shipment: not later than September 1993
3.2 Port of loading: Indonesia main ports
1
3.3 Destination port: Hochiminh City Port
3.4 Notice of shipment:
Within 2 days after the sailing date of carrying vessel to S.R Vietnam, the Seller shall notify by cable to the
Buyer the following information:
+ Port of loading: Belawan
+ Date of shipment: August 15th 2019
+ Expected date of arrival at discharging port: August 17th 2019
3.5 Shipping mark: UREA
46% NITROGEN MINIMUM
1% BIURET MAXIMUM
0.5% MOISTURE MAXIMUM
50 KGS NET
USE NO HOOKS
MADE IN INDONESIA
One side printed in green color
3.6 Discharging terms:
- When Notice of Readiness tendered before noon, laytime shall be commenced from 13:00 on the same
date
- When Notice of Readiness tendered afternoon, laytime shall be commenced from 8:00 on next date
3.7 Discharging term: 900MT/ day WWDSHEX EIU
Dem/ Des: USD 2,000/ half
ARTICLE 4: PAYMENT
4.1 By irrevocable Letter of Credit at sight forn B/L date for the full amount of the conntract value
4.2 L/C Beneficiary: Nastraco Indonesia
45 JL. S.M. Raja No. 90-C Binjai, North Sumatera
4.3 L/C advising Bank: INDONESIA FIRST BANK
Seoul - Korea
4.4 Bank of Opening L/C: VIETCOMBANK
4.5 Time of opening L/C: within Sep. 15 2019
4.6 Payment documents:
Payment shall be made upon receipt of the following documents:
- 3/3 of clean on board Bill of Lading marked FREIGHT PREPAID
- Commercial invoice in triplicate
- Packing list in triplicate
- Certificate of origin issued by manufacturer
- SUCOFINDO's Certificate on quality/ weight
- One copy of sailing telex/ shipping advice
2
- Remark: the shipping document acceptable
- 1/3 B/L ( the top copy ) and transport documents sent by DHL
ARTICLE 5: FORCE MAJEURE
Strike, sabotage, which may be occures in Origin Country shall be considered as Force Majeure
ARTICLE 6: ARBITRATION
6.1 In the execution course of this contract, all disputes not reaching at amicable agreement shall be settled
by the Economic Arbitration board of Hochiminh City under the rules of the International Chamber of
Commerce whose awards shall be final and binding both parties
6.2 Arbitration fee and other related charges shall be borne by the losing party, unless otherwise agreed.
ARTICLE 7: PENALTY
7.1 Delay in shipment/ delay payment
In case delay shipment/ delay payment happens, the penalty for delay interest will be based on annual rate
15 percent
7.2 Delay in opening L/C:
In case delay opening L/C happens, the Seller has the right to delay shipment
7.3 To cancellation of contract
If Seller or Buyer want to cancelled the contract, 5% of the total contract value would be charged as penalty
to that party.
ARTICLE 8: GENERAL CONDITION
8.1 By signing this contract, previous correspondence and negotiations connected herewith shall be null
and void
8.2 This contract comes into effect from signing date, any amendment and additional clause to these
conditions shall be valid only if made in written form and duty confirmed by both sides.
8.3 This contract is made in 6 English, each side keeps 3.
FOR THE SELLER FOR THE BUYER
