船舶建造合同(中英文) 作者:佚名 來源:互聯(lián)網(wǎng) 點擊:4130 次 更新:2007-3-16 (船號:) 本合同由依照 法律組建和存在, 并以 為注冊營業(yè)地的 為一方(以下簡稱"買方"),和依照中華人民共和國法律組建并存在,以中國 為注冊營業(yè)地的 船廠為另一方(以下簡稱賣方)于 年 月 日訂立。 茲證明 鑒于本合同所含的雙方的約定, 賣方同意設計建造、下水、裝配、完成一艘 船, 并在完工和試航成功后出售給買方,具體細節(jié),將在第一條中說明。本船將懸掛 旗,買方同意向賣方購買和接收前述船舶,并根據(jù)以下條款中所述金額付款。 第一條 說明和船級 1 說明 本船入級下述船級社,在設計吃水 米時, 載重量為 公噸的船舶(以下簡稱本船),本船的賣方船號為 , 其建造、安裝和完成應按下列技術規(guī)格書進行: (1)技術規(guī)格書(圖號: ) (2)總布置圖(圖號: ) (3)舯剖面圖(圖號: ) (4)廠商表(圖號: ) 上述隨附技術文件由本合同雙方簽字(以下合稱為"說明書"),并作為合同整體的一部分。 2 船級和規(guī)范 包括機器和設備在內(nèi)的本船建造,應該按照 船級社的規(guī)則和規(guī)范(以下簡稱"船級社")獲得 標記記錄并且符合說明書所規(guī)定的規(guī)則和規(guī)范。 買方應和船級社商定指派一名或多名代表監(jiān)造師(以下稱"監(jiān)造師"),在賣方的船廠對本船進行監(jiān)造。 所有和船級社有關的和為滿足合同簽字日前頒布的在本合同所要求的說明書中敘述的與規(guī)則、規(guī)范、要求所發(fā)生的費用,以及船舶建造的專利權使用費(如果有),除非另有規(guī)定及各方達成一致意見,否則均由賣方支付。為建造本船過程中所用的關鍵圖紙、材料和工藝無論何時均需按照說明書敘述的船級社的規(guī)則和規(guī)范實施檢查和實驗。
船級社關于是否符合船級規(guī)范的決定是終局的,對雙方均有約束力。 3 本船主要技術參數(shù)和尺度 (a)船體: 總 長: 約 m 兩柱間長: m 型 寬: m 型 深: m 設計吃水: m (b)推進裝置 本船按說明書應配備一臺 型主機。 4 保證航速 賣方保證按說明書要求本船的裝載條件下的試航速度經(jīng)修正后不低于 節(jié)。 試航速度應根據(jù)風速及淺水效進行修正。速度修正的方法應按說明書中的規(guī)定。 5 保證燃油消耗 賣方保證主機的燃油消耗在臺架試驗、正常連續(xù)輸出工況以及燃油值為 千卡/千克時,不超過 克/馬力。 6 保證載重量 賣方保證本船的載重量在滿載吃水 m,海水比重1.025的情況下,不少于 公噸。 本合同使用的"載重量"一詞,應符合說明書里的有關定義。 本船的實際公噸載重量應由賣方計算并經(jīng)買方校核,所有為此計算所需的測量應在買方監(jiān)造師或買方授權者在場時進行。 如果賣方和買方對此計算和/或測量有分歧,應以船級社的決定為準。 7 分包 賣方可以自行決定并負責將本船任何一部分的建造分包給經(jīng)驗豐富的分包商,但此類分包的提交和最后上船安裝工作應在賣方的造船廠完成,賣方仍應對分包工作負責。 8 注冊 本船應在交船及驗收后,由買方根據(jù) 法律注冊登記,一切費用由其自理。 第二條 合同價格和支付期限 1 合同價格 本船購買價格為 萬美元(USD ),由賣方凈收得(以下稱"合同價格"),不包括本合同第五條提及的買方供應品的費用,并將根據(jù)本合同有關條款,如有,作加減帳處理。 2 幣種 本合同中買方向賣方支付的任何費用均應以美元支付。 3 支付期限 合同價格應由買方按以下分期款項向賣方支付: (1)第一期款項 數(shù)額為 美元(USD )作為合同價格百分之 ( %),應在本合同生效時或之前并且賣方已向買方提交和本合同附件"A"相符的由北京中國銀行出具的退款保函,并且賣方已收到本條第6款提及的由第一流國際銀行簽發(fā)的付款保函的同時由買方支付。
(2)第二期款項 數(shù)額為 美元(USD )作為合同價格百分之 ( %)的款項,應在本船在賣方船廠開工后三(3)個紐約工作日內(nèi)由買方支付。賣方應用電傳或傳真連同買方認定的證書通知買方,說明本船已在賣方車間開工,要求立刻支付本期款項。
(3)第三期款項 數(shù)額為 美元(USD )作為合同價格百分之 ( %)的款項,應在本船第一只分段鋪龍骨后三(3)跟紐約工作日內(nèi)由買方支付,賣方應用電傳或傳真連同授權者認定的證書通知買方第一只分段已鋪龍骨,并要求買方立即支付本期款項。
(4)第四期款項 數(shù)額為 美元(USD )作為合同價格百分之 ( %)的款項,應在本船下水后三(3)個紐約工作日內(nèi)由買方支付。賣方應用電傳或傳真連同授權者認定的證書通知買方本船已下水,并要求買方在本船下水后立即支付本期款項。 (5)第五期款項 數(shù)額為 美元(USD )作為合同價格百分之 ( %)的款項加上根據(jù)本合同有關條款規(guī)定對本合同價格的修改或修正而導致的加減帳,應在交船日到期并由買方向賣方支付。賣方應在預定交船日十(10)天前用電傳或傳真向買方發(fā)出本期款項的付款要求。
4 支付方法 (1)第一期款項 根據(jù)第二條第三款(1)的規(guī)定,買方應以電匯的形式以美元匯付該期款項給由賣方指定的接收行。然后連同買方所要求的銀行通知,轉入賣方帳戶,或其它由賣方臨時指定的收匯行。 (2)第二期款項 根據(jù)第二條第三款(2)規(guī)定, 買方應以電匯的形式以美元匯付該期款項給由賣方指定的接收行。然后連同買方所要求的銀行通知,轉入賣方的帳戶,或匯付到賣方將指定的其它接收行,該類指定應至少在付款到期日前十(10)天通知買方。
(3)第三期款項 根據(jù)第二條第三款(3)的規(guī)定,買方應以電匯的形式以美元匯付該期款項給由賣方指定的接收行。然后連同買方所要求的銀行通知,轉入賣方的帳戶,或匯付到賣方將指定的其它接收行,該類指定應至少在付款到期日前十(10)天通知買方。
(4)第四期款項 根據(jù)第二條第三款(4)的規(guī)定,買方應以電匯的形式以美元匯付該期款項給由賣方指定的接收行。然后連同買方所要求的銀行通知,轉入賣方的帳戶,或匯付到賣方將指定的其它接收行,該類指定應至少在付款到期日前十(10)天通知買方。
(5)第五期(交船時付款) 買方應在預定交船日至少三(3)個銀行工作日之前,在賣方指定銀行以買方名義存不可撤消的現(xiàn)金存款。有效期為三十天,數(shù)額為本期款項(按本合同條款,金額可能作調(diào)整)。同時出具一份不可撤消的指示,聲明一旦賣方向該銀行提交由買方憑買方授權代表和賣方簽發(fā)的交船和接船協(xié)議書的副本,該存款歸賣方所有。如有利息,歸買方所有。
如果本船交船在上述三十天內(nèi)沒有實施,買方有權于到期日撤回該存款及利息。但是賣方通知買方新的交船日期后,買方應根據(jù)上述同樣條件進行現(xiàn)金存款。 5 預付款 買方有權在本船交船前支付任何預付款,并至少應于三十(30)天前,書面通知賣方預付款項,此預付款項不包括本船的任何價格調(diào)整。 6 交船前支付分期付款的擔保 買方應在本合同簽署時向賣方提交一份由第一流國際銀行(以下稱"保證人")簽發(fā)符合附件"B"格式的以賣方為受益人,并為賣方銀行和賣方信可的不可撤消、無條件的執(zhí)行保函,此保函保證買方履行支付合同價的第二、三和第四期款項的義務。
7 退款 買方在本船交船前支付的所有款項都具有預付款性質。若買方解除或取消合同,并符合合同規(guī)定的解除及取消合同的條款時,賣方則需按買方指定的帳戶電匯退還買方按本合同付給賣方的全部美元金額,其中包括從電匯付款日開始到退款為止的利息(利息根據(jù)有關條款的規(guī)定)。
賣方應該在合同簽訂日同時向買方提交由中國北京中國銀行總行銀行部簽發(fā)的與附件"A"格式一致的退款保函,作為對買方的保證。 如果雙方對賣方償還買方已付的一期或數(shù)期款項的義務和對買方要求中國銀行總行退款有所爭議,應根據(jù)本合同第十三條所述,由賣方或買方提請仲裁。中國銀行總行應停止或延遲付款,直至買賣雙方間的仲裁裁決公布,除非按照英國法律仲裁裁決由賣方退款和按英國法律賣方已放棄或不在實施任何上述權時,中國銀行總行沒有義務付款。如果賣方不履行裁決或判決,則中國銀行總行應付清仲裁裁決范圍內(nèi)規(guī)定的退款金額。
第三條 合同價格的調(diào)整 本船的合同價格應隨以下條款的規(guī)定而予以調(diào)整。雙方理解,任何合同價格的減少,是由損失的補償而非罰款的方式來實現(xiàn)的: 1 交船 (1)如果交船日期延遲至本合同第七條規(guī)定的交船日期后的第30天的午夜12時之前,合同價格不作變動。 (2)如果交船日期自第七條所述日期之后延遲超過30天,則從交船日起的第三十天午夜12時起算。每遲一天合同價格減少 美元(USD )。 除非雙方對此另有協(xié)定,對延遲交船損失的補償應從第五期合同價格的分期款項中扣除。但不論如何,最大延遲天數(shù)不應超過 ( )天包括買方同意在延遲 ( )天后接船,如本條1(3)所述,即扣除的最大額為 美元(USD )。 (3)如果按本合同第七條規(guī)定的交船日延遲了 ( )天(為允許延遲天數(shù)加上不允許延遲天數(shù)的總和),買方可自行選擇,根據(jù)第十條所述,解除或撤消合同。如果超過 ( ),買方還未按第十條款通知取消合同,賣方可在此 ( )天后任何時間,將賣方估計的交船時間書面通知買方并要求買方選擇。在此情況下,買方在收到通知的三十(30)天內(nèi)或者取消本合同,或者同意在商定的新交船日接船,雙方理解并同意如果本船未能在雙方同意的新交船期交船,買方仍有權根據(jù)上述相同條款取消本合同。
(4)如果交船日期如第五、六、十一、十二和十三條所述而被延遲,則不應被視為延誤交船,合同價格也不應降低,如果交船日由于第八條所述的允許延遲原因而延遲,則價格不作調(diào)整或減少。
(5)如果本船將早于本合同第七條所述的交船日提交,則賣方應以電傳通知買方,且該通知至少在預計新的交船日前 ( )天發(fā)出。買方按下述情況支付賣方一定數(shù)額的獎金。 如果在規(guī)定交船日前十五(15)天內(nèi)交船,合同價格保持不變。如果比規(guī)定交船日期提前十五(15)天以上交船,在提前十五天的基礎上,每提前一整天,在合同價上增加 美元(USD )作為獎金,由提前交船而增加的合同價總數(shù)應加在合同的第五期付款中。但增加的總數(shù)不應超過 美元(USD )。 實際交船期是在本合同第七條規(guī)定的交船期之后,允許的延長交船期之前,賣方無權得到本條款1(5)所規(guī)定的獎金。 (6)如果賣方未能按其宣布的新的計劃交船日交船,則賣方仍可在此之后的某一天交船。 在此情況下,為了確定對買方的違約賠償(根據(jù)本條第1款(1))和買方取消本合同的權利(根據(jù)本條第1款(3)),賣方新確定的交船日在任何情況下不應視為替代本合同第七條規(guī)定的原交船期。買方的上述違約索賠和取消合同的權利仍按第三條1(1),1(2)和/或1(3)的范圍內(nèi)執(zhí)行。無論如何,第七條所述的交船日期(而不是賣方確定的新的預計交船日期)應視為買方有權違約索賠和解除本合同和賣方由于延遲交船違約賠償責任的期限,如第三條1(1),1(2)和1(3)所述。
如果賣方實際上是在新的計劃交船日之后但在第七條規(guī)定的交船日之前交船,賣方仍然可以按照第三條第1款(5)的規(guī)定獲得獎金。 2 航速不足 (1)如果實際航速(試航時根據(jù)技術說明書修正后的速度)比第一條第4款所述的保證航速低0.3節(jié),則合同價格不應改變。 (2)如果本船的實際航速(試航時根據(jù)技術說明書修正后的速度)低于第一條第4款所述的保證航速0.3節(jié),從0.3節(jié)算起(包括0.3節(jié)),本合同價格應作如下減少: 小于0.3節(jié) USD 大于等于0.3節(jié)小于0.4節(jié) USD 大于等于0.4節(jié)小于0.5節(jié) USD 大于等于0.5節(jié)小于0.6節(jié) USD 大于等于0.6節(jié)小于0.7節(jié) USD 大于等于0.7節(jié)小于0.8節(jié) USD 大于等于0.8節(jié)小于0.9節(jié) USD 大于等于0.9節(jié)小于1節(jié) USD (3)如果實際速度(試航時根據(jù)技術說明書修正后確定的速度)低于保證速度( 節(jié))1節(jié)以上,則買方可自行選擇根據(jù)第十條拒絕接船和取消合同,或根據(jù)上述方式減少船價后接受本船,但最高扣除額不得超過 美元(USD )。 3 燃油消耗量 (1)如果造機廠臺架試驗測出主機的實際燃油消耗值超出本合同及說明書規(guī)定的保證燃油消耗值等于或少于百分之 ( %),則合同價格不應改變。 (2)如果臺架試驗測出主機的實際燃油消耗值超出保證燃油消耗值大于百分之 ( %),那么 %以上的油耗按每超1%,合同價格減少 美元(USD ),(不足百分之一的部分按比例計算)。 (3)如果臺架試驗測得主機的實際燃油消耗值超出保證燃油消耗大于10%,即油耗超過 克/制動馬力/小時,買方有權作出選擇,按第十條拒絕接船和取消本合同或減少船價后接受本船,最高減少金額為 美元(USD )。 4 載重量 (1)如果根據(jù)技術說明書在規(guī)定的設計吃水狀態(tài)下測得的實際載重量比保證載重量( 噸)低 噸以內(nèi),則合同價格不予減少。 (2)如果載重量不足超過 噸,每超過1噸,合同價格則減少 美元(USD )。 (3)如果本船實際載重量低于保證載重量 噸以上,則買方可根據(jù)本合同第十條所述拒絕接船和取消本合同,也可減價接受本船,合同價格減少最大不得超過 美元(USD )。
(4)如果本船的實際載重,在規(guī)定設計吃水狀態(tài)下,超過 噸的保證載重量,超過載重量 噸以下,合同價格不予增加,超過 噸的每1足噸合同價格增加 美元(USD )。 由于載重量增加而增加的合同價總數(shù)應加在第五期付款中,但增加的數(shù)額不超過 美元(USD )。 5 解除合同的效力 雙方在此明確并同意在上述任何一種情形下,如果買方按合同本條條款規(guī)定解除本合同,買方僅享有第十條所規(guī)定的權利和賠償,無權享有上述或其他地方所敘述的任何補償或賠償。
第四條 監(jiān)造和檢查 1 買方監(jiān)造師的指派 買方將自費按時委派一名或多名代表(以下稱為監(jiān)造師)。監(jiān)造師應由買方書面委任,并常駐在賣方的船廠,負責對在建船及其主機、輔機進行檢驗和監(jiān)造。賣方保證為監(jiān)造師進入中國按時辦妥必要的簽證,監(jiān)造師應遵守中華人民共和國法律、法規(guī)和規(guī)章,買方負責給予賣方申辦簽證通知。
2 圖紙認可 本合同雙方在簽訂合同 天之內(nèi)共同商定需送交買方認可的圖紙清單(以下?quot;清單")。在監(jiān)造師抵達賣方船廠之前,清單中規(guī)定的圖紙應寄送至買方,買方應在收到后 ( )天內(nèi)(不包括郵寄時間)將認可或注解的圖紙寄回賣方。 在監(jiān)造師抵達賣方船廠的同時,買方應書面通知賣方,陳述授權監(jiān)造師可代表買方認可或不認可清單中所列的但尚未寄送給買方的圖紙。監(jiān)造師應在收到上述圖紙后 天內(nèi)將這些圖紙連同認可或注解一并返回。 如果監(jiān)造師或買方未在上述規(guī)定期限內(nèi)通知賣方認可或不認可,則視為這些圖紙已被自動認可。 經(jīng)買方或監(jiān)造師認可的圖紙應視為最終的圖紙,其任何改變應按本合同第五條的規(guī)定處理。 3 監(jiān)造師的監(jiān)督和檢查 對本船的機械設備及舾裝的必要檢查由船級社和/或賣方的檢查小組在整個建造過程中實施,以確保本船完全按照合同和說明書進行建造。 在交船前的所有時間內(nèi),監(jiān)造師有權按照雙方商定的試驗清單參加試驗及在賣方船廠、分包廠或任何加工地或本船有關材料的儲存地檢查本船及其機器、附件。如果監(jiān)造師發(fā)現(xiàn)本船的建造或材料或生產(chǎn)工藝不符合或將不符合合同或說明書的要求,監(jiān)造師應立即書面通知賣方,賣方如果同意買方的意見,則應在收到該通知后立即改正。買方應向賣方承諾和保證,監(jiān)造師按照雙方同意的檢查步驟、日程和一般的造船慣例進行檢查,并使建造成本的增加和建造誤期時間減少到最低程度。 賣方應在其造船廠或就近處免費提供買方監(jiān)造師的辦公室和其他必要的設施。在本船建造期間直到交船日,監(jiān)造師可自由出入本船及其機器、附件及和本船有關的施工場地和材料加工儲放場,包括賣方的船廠、車間、倉庫,從事本船施工的賣方分包商和材料倉庫。如果賣方分包廠在本市以外地區(qū),那么前往該處的費用由買方自行承擔,監(jiān)造師在市內(nèi)的交通由賣方提供。
4 賣方的責任 在本合同項下買方雇傭的監(jiān)造師均被視為買方的員工,買方、監(jiān)造師或買方的雇員或代理人在船上/或賣方或分包商的廠區(qū),參與建造本船而發(fā)生人員受傷,包括傷亡在內(nèi),只要不是因賣方、賣方的雇員或代理人或賣方的分包商的重大疏忽造成,賣方對此不承擔責任。只要不是因賣方、賣方的雇員或代理人或賣方的分包商的重大疏忽所致,買方監(jiān)造師、買方雇員或其代理人在中國財物的損壞、滅失等,買方概不負責。
5 薪水及費用 按本條,監(jiān)造師或由買方雇傭的雇員的薪水及日常開支,均由買方自理。 6 進度報告 買方有權在本船建造期間任何時候要求賣方報告本船進度情況。 7 監(jiān)造師的更換 賣方有權書面要求買方更換對建造本船不稱職和不滿意的監(jiān)造師,并說明理由。如有必要,買方將派員至賣方船廠調(diào)查此事,如果買方認為賣方要求合理,即應盡快更換。 第五條 修改、變更和加帳 1 如何實施 本船建造所依據(jù)的說明書和圖紙,可在本合同雙方書面同意后的任何時候予以修改或變更,如果這類修改或變更或累積修改根據(jù)賣方的合理判斷不會嚴重影響賣方所承擔的其他義務,且買方同意按下述規(guī)定調(diào)整合同價格、交船時間和本合同其它條款(如果有)。在上述條件下,賣方同意盡力滿足買方的此類合理要求,使上述修改和/或變更以合理的費用和合理可行的最短時間內(nèi)完成。此類修改或變更的協(xié)議應包括一份合同價格增加或減少(如果有)的協(xié)議和交船時間推遲或提前的協(xié)議,并向賣方提供賣方滿意的附加保證,或合同的其他更改或由于更改而改變說明書的協(xié)議。上述修改協(xié)議或變更說明書應由雙方互換鑒定書或電傳而生效,雙方交換的函件或電傳應作為建造本船說明書的修改部分,并作為本合同和說明書的一部分。在修改和/或變更說明書的協(xié)議達成后,賣方應按此對本船的建造進行修改,包括任何增減項目和建造相關的工作。如果雙方因無論何種原因未就調(diào)整合同價格、或延長交船時間或提供賣方附加保證或修改合同條款達成協(xié)議,則賣方?jīng)]有義務接受買方的任何修改要求。
2 規(guī)范、規(guī)則等的改變 (1)在本合同簽訂后,如果船級社及其他授權的法定機構修改或更改本合同和說明書中規(guī)定的規(guī)范規(guī)則時,買方或賣方在收到更改通知后應完整地以書面形式傳給對方,買方收到賣方(或反之)上述通知后( )天內(nèi),買方應書面將本船修改或變更的決定(如果有)通知賣方,并由買方自行決定是否在本船上實施修改或變更并傳達該賣方。假如買方首先同意下述條款,賣方應及時對本船進行修改和更改。
a)關于實施此類修改或變更所發(fā)生的成本而引起的本船合同價格的增減;和/或 b)關于實施修改或變更而引起的交船時間的延長;和/或 c)關于實施這類修改或變更導致的保證載重量的航速的增減;和/或 d)關于實施這類修改或變更導致本合同或說明書或兩者的任何改變; e)由于合同價增加而向賣方提供賣方滿意的附加保證。 有關條款修改或變更的協(xié)議,應按上述有關說明書和/或圖紙的同樣方式處理。 (2)如果不論何種原因,雙方不能就合同價格和調(diào)整,或交船期的延長,或保證航速和載重量的增減,或向賣方提供附加保證,或本合同條款的任何修改(如有)未能達成協(xié)議,則賣方有權根據(jù)合同及說明書的有關條款繼續(xù)建造本船,買方也應繼續(xù)遵守未作任何修改的合同及說明書的條款。
3 材料和/或設備的代用 如果按本合同或說明書的需要用于建造本船的材料和/或設備無法及時采購而滿足交船,在賣方提出合適證據(jù)并征得買方書面同意后,賣方可以提供達到船級社和建造本船所適用的規(guī)則、規(guī)范要求的材料及設備。
4 買方供應品 買方應在賣方指定時間內(nèi),將說明書中規(guī)定的由買方自費提供的供應品提交給賣方船廠。 如果買方未能在規(guī)定時間內(nèi)將該供應品提供給賣方,且將影響交船,則本船的提交按所延遲的日期相應推遲。買方應賠償由于其供應品延遲而使賣方遭受的所有損失和損害。此賠償款在交船時結清。
如果買方供應品交付延期 ( )天,則賣方為不損害自己的權益,有權在不將該項目安裝到船上去的情況下繼續(xù)建造本船,買方應接受按此完工的船舶。 在買方供應品送交賣方后,賣方應負責按說明書規(guī)定將項目存儲和處理并安裝到船上,不另收費。 在買方供應品運達后,雙方應負責共同開箱檢查,如果發(fā)現(xiàn)損壞且無法安裝,則賣方有權拒收該買方供應品。 第六條 試航 1 通知 賣方以書面或電傳并經(jīng)書面確認的方式至少提前三十(30)天發(fā)出通知,并提前七(7)天確切通知買方和監(jiān)造師關于本船按照規(guī)格書所述進行試航的時間和地點,買方和監(jiān)造師要立即認可已收到該通知。買方代表和/或監(jiān)造師應在船上見證該試航,并在試航期間檢查本船的性能。若買方和監(jiān)造師收到通知后,買方代表無法參加本船試航,本船的交船日期將因此根據(jù)買方代表遲到的天數(shù)做相應的延長。如在上述通知收到后,買方代表無法參加本船試航引起試航延遲七(7)天以上時,買方將被視為放棄參加本船試航的權利,賣方可在無買方代表參加的情況下自行試航,對此,買方必須在賣方和船級社會簽的證書基礎上于試航后并對本條提及的修正處修改后方接受本船。該證書用以證明本船符合合同和規(guī)格書要求,并在各方面均是滿意的。賣方特此保證為買方代表按時辦妥必要的入境簽證,否則,試航將推遲至買方代表抵達賣方船廠時為止,由此引起的延遲不得作為本合同第八條中的允許延遲。但是如果根據(jù)中國現(xiàn)行的法律和/或規(guī)定,賣方無法接受買方代表的國籍和其他個人資料,那么應賣方電傳要求,買方應立即更換該代表或數(shù)名代表。否則本合同第七條所述的交船日期,若氣候惡劣,該試航將推遲至氣象條件許可時的次日進行。本合同雙方理解到,試航所在的中國水域,其氣象條件多變,而且事前并無警報。為此,本船試航期間若氣候突變惡劣,阻礙試航繼續(xù)進行,同意將本船的試航中止和推遲至天氣好轉的次日進行,除非買方以電傳方式同意,并以書面形式確認,以天氣突變前所作的試航為基礎接受本船。如果因氣候惡劣而推遲試航,該延遲應視為本合同第八條中的允許延遲。 2 如何實施 (1)凡與試航有關的費用均由賣方承擔。在本船試航期間和試航時,賣方必須自費提供必要的船員以符合安全航行的條件。試航應按規(guī)格書規(guī)定的方式進行,并滿足規(guī)格書規(guī)定的性能。
試航路線由賣方確定,試航應在配備有速度測定設施的試航水域內(nèi)進行。 (2)為滿足規(guī)格書規(guī)定的試航條件,賣方應為本船提供所需的水、燃油和油脂,買方提供潤滑油和液壓油。雙方提供的上述物品均應符合主機技術規(guī)格書的要求。在試航和試驗期間所消耗的水、燃油、潤滑油、液壓油和油脂類費用由賣方承擔。
3 試航載重吃水 買方根據(jù)本條第二款(2)規(guī)定提供試航所需供應品外,賣方應提供本船所需的淡水和試航所需的備品,使本船達到規(guī)格書規(guī)定的試航載重吃水所需的壓載(淡水、海水或其他規(guī)定的壓載物)由賣方付費。
4 驗收或拒驗的方法 (1)當賣方通知本船試航結束時,買方或買方的監(jiān)造師應在此之后六(6)個工作日之內(nèi),以電傳并用書面確認方式通知賣方接受本船或連同有關理由拒絕接受本船。 (2)但,若試航結果表明本船或本船任一部分包括其設備不符合本合同規(guī)格書要求,賣方應會同監(jiān)造師檢查故障原因,并采取有效的措施,消除故障進行修改,若有必要重新進行試航,買方不承擔額外費用。當賣方通知這些修改和/或重新試航完成時,買方應在此六(6)個工作日內(nèi)根據(jù)賣方所作的修改和更正后和/或重新試航的情況以電傳并以書面確認的方式接受本船或連同有關理由拒絕接受本船。
(3)如果買方未能在上述(1)和(2)款規(guī)定的六(6)個工作日之內(nèi)以電傳并以書面確認接受或連同有關理由拒絕接受本船,買方應被視為已接受本船。 (4)本合同雙方若對本船試航、試驗的結果產(chǎn)生任何分歧、則應按地十三條規(guī)定的仲裁辦法予以解決。 (5)買方不能因試航和/或進一步試航后有保留意見或備注而拒絕接受本船。賣方必須在按本合同交船前完成此類修改(如果這些修改被賣方接受)。 5 剩余消耗品的處置 在買方接船時,本船還剩有賣方為試航提供的燃油、淡水或其他消耗品,買方同意以交船港的現(xiàn)行市場價向賣方購買上述物品,買方按照本合同第二條3(5)和4(5)規(guī)定付款。 買方應自費為試航提供潤滑油和液壓油,買方將以原價償還上述試航實際消耗的潤滑油和液壓油,賣方按照本合同第二條3(6)和4(6)規(guī)定付款。 6 驗收的有效性 按上述規(guī)定,只要本船符合本合同和說明書,買方以書面或電傳通知賣方接船應為最終的和有約束力。如果賣方符合下述其他條款規(guī)定的全部程序交船,買方不得拒絕賣方正式提交本船的要求。
第七條 交船 1 時間和地點 根據(jù)本合同第六條規(guī)定完成試航(或可能的重新試航)并為買方接受后,按技術說明書要求,本船將在 年 月 日或之前在安全系泊狀態(tài)下由賣方在賣方船廠連同所有入級證書和法定證書交給買方,如果本船建造或本合同的履行因本合同許可的原因延遲交船,上述日期可予以順延。 上述日期或按合同條款延遲的交船日期稱之為"交船日期"。 2 何時和如何實施 如果買方和賣方各自履行了其在本合同中的全部義務,本船的交付應在賣方向買方提交確認交船的交接船證書以及買方向賣方接船證書的同時立即生效,交接船文件一式四份,雙方簽字生效。
3 應提交給買方的文件 在買方接受本船時,買方應將下列文件(取決于第五條2中的內(nèi)容),連同交接船證書提交給買方。 (1)賣方按說明書進行的本船試航報告; (2)本船設備、屬具含說明書規(guī)定的零備件等的清單,由賣方制定; (3)賣方按第六條第五款指定的消耗材料、儲備品清單; (4)賣方按說明書制定的本船完工圖; (5)賣方提供的載重量和傾斜試驗報告; (6)按合同和說明書要求在本船交付時需提供以下全部證書: …… 各類證書需由有關當局或船級社出具。本船需滿足本合同簽字時業(yè)已生效的有關規(guī)范規(guī)則。所有證書應有一份原件交本船留存,二份副本交買方。 如果在交船時船級社或賣方以外的任何第三方無法出具完整的證書,賣方需提供船級社或賣方以外的第三方出具的臨時證書,而在臨時證書有效期屆滿前,賣方應將正式證書提交買方,對此,買方應予以接受。
(7)賣方出具保證聲明,即本船的任何留置權、費用、索賠、其他妨礙買方所有權的事項均不存在或已結清。特別是本船的交船港所在省或國家的賦稅或費用絕對無關,也與賣方在交船前在其分包商、雇員和船員在本船試航或其他場合中發(fā)生的全部債務絕對無關。
(8)賣方開具的商業(yè)發(fā)票。 (9)賣方提供的銷售帳單。 4 產(chǎn)權和風險 本船的產(chǎn)權和風險只在交船時才轉移至買方。如上所述,雙方在充分理解交船之前,本船和其他設備的產(chǎn)權完全為賣方所有,賣方承擔風險。 5 船舶的駛離 買方在本船交付和接受后即擁有本船,并在本船交付和接受后七(7)天內(nèi)將本船駛離賣方的碼頭。若買方未能在上述七(7)天內(nèi)將本船駛離賣方的碼頭,在這種情況下,賣方有權要求買方在此后的任何時間立即移開本船,買方應向賣方支付合理的船舶停泊費。
6本船招標 如果買方無正當理由無法在本船按合同和說明書建造完成后接船,賣方有權在上述所有必備程序完成后招標出售本船。 第八條 交船時間的推遲和延長 1 推遲原因 在實際交船前的任何時候,本船的建造和交船前所履行的條款(包括分包商的)因不可抗力的原因諸如戰(zhàn)爭、封鎖、革命、暴動、戰(zhàn)爭動員、國內(nèi)騷亂、暴亂、罷工、破壞、工廠關閉、當?shù)貧鉁爻^35℃、天災、公害、瘟疫或其他流行病、地震、潮汐、臺風、颶風、風暴或其他非賣方或其分包商所能控制的原因(視情況而定),以及任一描述的不可抗力,無論其性質前面是否指明,或賣方遭受損失或賣方工廠或其分包廠或本船的任何部分遭受火災、洪水或其他有可能非賣方或其他分包商所能控制的原因或由于設備和/或材料供應廠商破產(chǎn),由于上述不可抗力的原因所產(chǎn)生的推遲時,賣方對此類推遲不承擔責任,本船交付日期予以順延,船價不得有任何扣減,但總的延長時間不應超過所有此類推遲的總和并受本條第三款中買方取消合同的權利和本合同所有關于所有權和允許推遲交船時間的相關條款的制約。
2 推遲通知 在賣方認為有權按本合同宣布推遲交船時,賣方應在推遲發(fā)生之日起七(7)天內(nèi)以電傳并以書面確認的方式通知買方推遲的日期和原因。 同樣,此類推遲結束后七(7)天內(nèi),賣方應以書面或書面確認的電傳通知買方推遲的終止時間,并確定由于此項延遲原因引起的本船交付的最大推遲日期。買方在收到該通知后三十(30)天內(nèi)未能對賣方要求推遲交船作出反應,則被視為買方放棄反對推遲的權利。
3 超時推遲而取消合同的權利 如果所有允許推遲和非允許推遲的累計時間達到或超過 ( )天,但不包括第十三條所述的由于仲裁或買方違約或買方供應品延付引起的推遲,也不包括第五、六、十一和十二條中允許的延長或推遲交船的日期,在這種情況下,買方可根據(jù)本條款并按照本合同第十條的規(guī)定,以電傳方式通知賣方取消本合同,該取消通知需經(jīng)書面確認。賣方可在上述累計推遲時間之后的任何時候書面要求買方作出選擇,這時買方在收到該要求后三十天內(nèi)通知賣方其取消意圖,或同意將交船日期延長至雙方同意的日期,在此雙方理解并同意,如果再發(fā)生本合同規(guī)定的推遲而引起取消,買方仍有權按上述有關條款取消合同。
4 允許推遲的定義 由本條第一款所述的原因導致的推遲,但不包括本合同條款所允許的任何其他交船日期的延長應理解為(并在此稱為)允許推遲,并區(qū)別于按本合同第三條規(guī)定需調(diào)整船價的非允許推遲。
第九章 質量保證 1 材料和工藝的保證 在賣方將本船交付給買方后12個月內(nèi),賣方保證對本船、其船體、機械設備及其所有部件和所有由賣方和/或本合同中的其分包商制作完成或提供的包括材料、設備(但由買方或以買方名義提供的任何部件除外)發(fā)生因材料缺陷、設計錯誤和/或制作工藝錯誤引起的缺陷承擔責任。
2 缺陷的通知 買方發(fā)現(xiàn)屬于本保證范圍內(nèi)據(jù)以索賠的缺陷或偏差后,應立即以書面或書面確認的電傳通知賣方。在買方的書面通知中應詳細說明缺陷的性質和由此引起損壞的程度。賣方在保證期到期后三十天內(nèi)未收到缺陷通知,賣方對保證期到期之前發(fā)現(xiàn)的缺陷不承擔義務。在保證期到后三十天內(nèi)應電傳通知發(fā)生的缺陷,需要說明缺陷的性質和損壞的程度,則隨后的索賠視為符合要求。
3 缺陷的修復 賣方應自行對本條所保證的本船或設備的任何部分所發(fā)生的缺陷進行必要的修復和/或更換。這些修復和/或更換應由賣方完成。 但是,如果賣方不能修理本船,如果賣方的更換材料、部件的運輸將影響或推遲本船運行,那么在此情況下,買方可自行選擇在其他地方進行必要的修理或更換,但買方無論如何應首先盡快地用書面通知或書面確認的電傳,告知買方將要修理的時間和地點。如果本船及其運行沒有推遲,其運行未受損害,賣方有權由自己的代表或船級社代表,核實買方提出的缺陷的性質和范圍。在此情況下,賣方在檢驗結束后,應迅速用電傳通知買方,承認或拒絕這類缺陷屬其擔保提供范圍。在一般情況下,隨后指派的保證工程師,將代表賣方。
出現(xiàn)下列情況,賣方應立即將包括此類修理或更換含運輸費的實際成本,或按日本、韓國、新加坡主要船廠實施類似修理或更換的平均費用包括其運輸費用取其低者以美元電匯給買方。
(1)賣方承認按本條應補救的缺陷,或 (2)賣方在收到買方缺陷通知后三十天內(nèi),不接受也不拒絕上述缺陷,也不請求仲裁。 任何爭議將按照本合同第十三條的規(guī)定提交仲裁。 4 賣方的責任范圍 賣方對在上述擔保期滿后發(fā)現(xiàn)的缺陷不負責任。 賣方對由于本條第一款所述原因引起缺陷或損壞負責,賣方責任局限于上面第一款中規(guī)定的擔保期內(nèi),由于一般磨損或不是由于上面第一款中規(guī)定的缺陷而導致的該船設備損壞,賣方無義務修理。發(fā)生在海上或其他地方的火災、意外事故、或錯誤處理事故、疏忽或故意疏忽,是由買方及其雇員、代理人,包括該船官員、船員、乘員或在該船上工作的人員引起的,而不是賣方及其雇員、代理人或分包商引起的,因而造成該船及設備損壞,賣方不負責任。同樣,對于那些由賣方和/或其分包商以外其他人的修理或更換而造成的本船設備任何部件的損壞,賣方不負責任。
根據(jù)本合同條款,賣方將本船交給買方后,解除了本合同所述的一切責任和義務(保留第九條所明確規(guī)定的對買方的義務),包括但不限于工藝、材料、設備、設計缺陷或其他缺陷的責任和義務,以及由于賣方忽略或錯誤導致的損失的責任或義務。賣方不負責買方在本船所承擔的義務中的間接損失或特定損失或不論何種原因造成的,包括但不限于浪費時間,損失利潤或收入或滯留費用在內(nèi)的費用。 本條擔保及賣方責任與義務是專有的和不可替代的,于此表示買方放棄了其他補救、保證、擔;蜇熑,無論這些權利是明示的還是默示的,由法律賦予還是其它(包括但不限于適用性、適銷性和間接損壞方面的責任)規(guī)定的,是否由賣方疏忽所引起的。該擔保不能延長、變更或改變,除非買賣雙方正式授權代表簽署書面文件。 5 保證工程師 賣方應指派一名或二名保證工程師作為賣方代表,從本船交付之日起為該船服務十二(12)個月。買方及其雇員應給予該保證工程師充分的合作以便其履行賣方代表在船上的職責。買方應按照該船輪機長待遇給予保證工程師,并應向其提供食宿,賣方和/或保證工程師對此不承擔費用。
買方應每月向保證工程師支付 美元(USD )作為各項開支,其中包括工資。買方還應承擔在服務期滿后飛返中國的旅費及保證工程師在履行其職責時與賣方面通訊聯(lián)系的費用以及(如有)其醫(yī)藥費和住院護理費。買方及其繼承人和/或指定人有責任向賣方和/或保證工程師和/或賣方賠償保證工程師的個人傷害,包括死亡、或保證工程師財產(chǎn)的破壞、損失或缺損,如果該死亡、傷害、損失和/或缺損是由于買方,其繼承人和/或指定人或其雇員和/或代理人的重大疏忽或故意失誤造成的。
有關本款細節(jié),合同雙方應按照本款內(nèi)容在交船時另行簽訂一份協(xié)議。 第十條 買方的取消、拒收和解約 1 買方在本船交船前支付給賣方的付款為預付款。如果買方行使其根據(jù)本合同條款準許的取消和/或解除本合同的權利,買方應以書面或書面確認的電傳通知賣方。這種取消和/或解除合同的通知應于賣方收到通知之日起生效。
2 屆時,賣方應立即以美元向買方退還其因本船而向賣方支付的所有款項,除非賣方對買方的取消和/或解除有爭議而提請仲裁。如果賣方對買方上述的取消和/或解除本合同有爭議而提請仲裁,或賣方對仲裁裁決提起上訴時,賣方不退款,買方也無權要求中國銀行根據(jù)退款保函退款,直至仲裁庭的裁決生效,裁定買方勝訴,買方的取消和/或解除是合法的,并由仲裁庭通知賣方為止。 如果買方由于第八條第三款規(guī)定的累計推遲 ( )天或因第三條1(3),2(3),3(3)或4(3)的規(guī)定取消或解除本合同,賣方有退款義務,那么賣方應以美元按百分之 ( %)的利率一并付給買方。利息自該款項被中國銀行紐約分行收到之日或賣方根據(jù)第二條4(2),4(3)或4(4)指定的其它銀行帳戶收到買方付款之日起計算至賣方向買方電匯退款之日止。但按本合同第十四條規(guī)定的總損失而實施取消或解除本合同,那么應根據(jù)此要求的數(shù)額向買方退款,不計利息。
3 在賣方向買方作此退款后,本合同各方對他方的責任、義務將完全解除。 第十一條 買方違約 1 違約定義 如果出現(xiàn)下列情況,買方被視為違反本合同規(guī)定之義務。 (1)根據(jù)第二條規(guī)定,第二期或第三期或第四期款項到支付期,并收到賣方按第二條提出的付款通知后,買方未予支付;或 (2)買方在收到賣方根據(jù)第二條的規(guī)定提出的付款要求后未根據(jù)第二條第3(5)和4(5)向賣方支付第五期款項;或 (3)賣方根據(jù)本合同第七條規(guī)定按時提交本船,而買方?jīng)]有接船。 2 違約通知 若買方因上述付款或履行義務違約,賣方應于本條第一款所述之違約發(fā)生之日,用電傳通知買方,買方應立即用電傳向賣方確認上述通知已收到。若買方在三(3)個日歷日內(nèi)不向賣方發(fā)出電傳確認,應視為買方已按時收到上述通知。
3 利息和費用 (1)如果買方對于本條第1(1)和/或1(2)規(guī)定的進度款項付款違約,自付款到期日后的15天期間,買方應按年利率為百分之 ( %)支付分期付款利息,十五(15)日之后按年利率為百分之 ( %)直至全部款項付清為止。如果買方未按本條第1(3)規(guī)定接收該船,應視為買方第五期進度款付款違約,并應支付按前述利率計算的利息,自第七條第7款規(guī)定的準備交船之日起算(包括當時在內(nèi))。
(2)如果買方違反了前述1(1)、1(2)或1(3)的規(guī)定,除本合同有關規(guī)定條款外,買方不應支付賣方因買方違約而支出的成本、費用和開支。 4 交船前違約 (1)若買方出現(xiàn)本條第1(1)、1(2)或1(3)所規(guī)定的違約,可根據(jù)賣方選擇,將交船日按買方違約持續(xù)時間推遲。 (2)若買方出現(xiàn)本條第1(1)、1(2)或1(3)所定義的違約,并持續(xù)十五(15)天,賣方可行使下列權利和補救措施。 (i)賣方根據(jù)本條第2款已用書面確認的電傳(或傳真)向買方發(fā)出違約通知,賣方有權自行選擇取消或解除本合同。在買方收到取消或解除的電傳通知后,所有買方供應品歸賣方所獨有,本船及其設備、機器應由賣方單方出售或采取其他措施;和
(ii)(適用于買方對本條1(1)所定義的違約)賣方有權要求買方支付第五期款項、利息以及根據(jù)本合同規(guī)定出售本船所花費成本和/或費用,有權宣布未付的第二期、第三期、第四期款項到期,在宣布后,賣方有權要求擔保人按其簽發(fā)的保函條款立即支付所有未付的第二期、第三期和第四期款項。 5 本船的出售 (1)當按上述規(guī)定取消或解除本合同后,如果認為適當,賣方完全有權建成或不建成本船,在此狀態(tài)下賣方可公開或私下出售本船,采取自己認為合適的方法而無須對買方由此招致的損失或損害負責。
若出售本船,賣方應用電傳或書面通知買方。 (2)若出售已完工的本船,賣方出售所得收益應首先用于支付銷售費用和由于買方違約給賣方造成的經(jīng)濟損失,然后支付未付的各期款項和/或合同價格差額及利息,利息按前述相關條款的規(guī)定,其利息計算自各到期日起算至售船收益日止。 (3)若出售未完工的本船,賣方出售本船所得收益應首先用于支付銷售費用和成本,由于買方違約對賣方造成的經(jīng)濟損失,然后支付建造本船所有成本(這里所指的建造成本應包括但不限于勞務費,和/或賣方為設備和/或未安裝到船上的材料所付費用);和/或賣方已支付和/或要支付的本船任何費用、開支、消費和/或專利稅減去賣方保留的分期款項,并補償賣方因取消和解除本合同遭受的合理數(shù)額的利潤損失。
(4)在上述任何一情況下,若售船收益超過前述按照規(guī)定所需支付的總額時,賣方應立即將超過部分無息付給買方。但付給買方的各款項,如果有,數(shù)額不應超過買方已支付的各期款項的總額和買方供應品的成本。 (5)若售船收益不足支付前述應付款項的總額,買方應按賣方要求立即支付其差額。 第十二條 保險 1 保險范圍 自本船第一只分段上船臺之日起至本船完工、交付及買方接收之時止,賣方應自費向中國一流保險公司投保本船及運至船廠用于建造、安裝到本船上的所有機器、材料、設備及舾裝件,包括買方供應品。
到交船日,保險總額應該至少等于,但不限于買方付給賣方各期價款的總額,其中包括買方供應品的價值。上述保險單應以賣方名義出具,此保險單下的一切損失向賣方支付。 2 保險賠償費的使用 (1)部分滅失 如果本船在交付和買方接收前,本船屬于保險范圍內(nèi)的原因遭受損壞,且該損壞未對本船造成實際全損或推定全損,賣方將憑本條第1款所指定的保險單獲得保險賠償,并將其用于修理損壞部分,以滿足說明書中所列的船級社及其他團體、當局的要求,也不向買方追加額外費用,買方應按合同接收按本合同及說明書完成的本船。
(2)全損 若本船認定為實際全損或推定全損,則賣方應當: (i)根據(jù)合同雙方協(xié)議,按本合同條款繼續(xù)建造。在此情況下,按前述保險單所得保險賠償應用于重新建造和/或修理本船損壞部分和/或重新配備買方供應品,而不向買方加帳。但是合同雙方須首先書面同意因重建工作實際需要,交船日期合理順延及包括合同價格在內(nèi)的合同其他條款的調(diào)整。
(ii)如果出于各種原因,合同雙方未能對上述事項達成協(xié)議時,賣方應立即不計利息地向買方退還買方按本合同已向賣方支付的所有分期付款以及買方船上供應品保險賠償金額,至此本合同被視為已取消,合同各方對他方的權利、責任、義務到此終止。
在收到有關本船實際或推定全損的電傳通知后三十(30)天內(nèi),買方應根據(jù)本款內(nèi)容書面或電傳通知賣方對此是否同意,若買方未對賣方作出此類通知,則將視為買方對此不同意。本合同將視為被取消和解除,買方獲前述退款,且應適用本條條文。
3 賣方保險責任的終止 賣方對本船的保險責任在本船交付和為買方接受時即告停止和結束。 第十三條 爭議和仲裁 1 仲裁條款 凡因本合同引起的或與本合同有關的任何爭議,均應提交中國海事仲裁委員會,按照申請仲裁時該會現(xiàn)行有效的仲裁規(guī)則進行仲裁。仲裁裁決是終局的,對雙方均有約束力。 2 交船期的變更 若就交船的爭議問題提請仲裁時,賣方無權延長第七條規(guī)定的交船日期,買方也無權在規(guī)定的交船日期或賣方新定交船日期推遲接收本船。如果出于仲裁而影響本船建造,賣方可以延長第七條所定的交船日期,仲裁裁決應包括允許推延交船日期的期限。 第十四條 轉讓權 合同雙方都不得將本合同轉讓給其他個人、商號、公司、或法人團體,除非事先征得雙方同意。 第十五條 稅務和關稅 1 稅務 所有與本合同有關的中國境內(nèi)的稅務,如果有,包括印花稅(如果有的話)應由賣方負擔。賣方在中國境內(nèi)或其他地方獲得的用于建造本船的設備或裝備,其稅務和/或關稅應由賣方負擔。
2 關稅 根據(jù)合同/或說明書條款將要或可能由買方從國外提供安裝到本船的材料和設備以及由買方從國外提供本船航行用的備件、食品、物資在中國境內(nèi)征收的關稅以及出口本船或其部件、設備的出口關稅費用(如果有),應由賣方向買方補償并保證買方利益不受損害。 除上述的稅務和關稅外,其他的稅務和關稅,如果有,應有買方負擔。 第十六條 專利、商標和版權 本船的機器和設備可能印有專利號、商標和廠商名稱。賣方應保證買方不受專利責任或各種性質與種類的專利侵權的索賠,其中包括履行本合同用于本船的已獲專利或可獲專利的發(fā)明而支出的費用,也包括可能有的訴訟費用和開支。
本條所述內(nèi)容不應理解為可以轉讓本合同有關設備的專利權、商標號和版權。上述權利應完全歸其真實、合法所有人持有。當本合同其他條文相反,賣方基于本條的責任,將不隨任何具體期限屆滿而終止。
賣方在此承擔的保護范圍不包括由買方提供給賣方的設備或部件。 第十七條 通知 所有本合同有關的通知和通訊應使用以下地址: 買方: 地址: 電話: 電傳: 傳真: 賣方: 地址: 郵編: 電話: 傳真: 電傳: 若地址變更,變更方應用掛號信通知對方。若未給對方以變更通知,則對方以前知道的地址,將被視為是正確的地址。 所有有關本合同的通知、要求、請求、說明書、建議和通訊,在到達對方地址后即視為已遞交、答復確認電傳或傳真在發(fā)送時即視為已遞交。 所有有關本合同的通知、通訊、說明書和圖紙應用英文書寫,本合同雙方無義務將其譯為其他語言。 第十八條 合同生效日期 本合同具備下列條件后生效: (1)本合同與說明書已簽字;和 (2)賣方收到根據(jù)本合同第二條3(1)和4(1)規(guī)定的第一期分期付款;和 (3)賣方收到根據(jù)第二條第6款由買方一流國際銀行出具的并由中國銀行及賣方認可的保函;形式如合同附件"B"。 (4)買方收到根據(jù)第二條第7款由中國銀行總行銀行部出具的退款保函,形式見本合同附件"A"。 不論什么理由,上述各項條件中有一項或幾項沒有實現(xiàn),則本合同應視為無效,不再具有任何效力。 第十九條 解釋 1 適用法律 雙方同意本合同和每一條款均按 國法律解釋并有效。 2 不一致性 本合同說明書中所有文字和要求是用來闡述、解釋和完善本合同的要求的。但如果說明書的文字和要求與合同條文不一致的解釋,在此情況下,應以本合同條文為準。說明書與圖紙也是互相解釋的。如果有的內(nèi)容,圖紙上標明但說明書未作規(guī)定或說明書有規(guī)定而圖紙上未標明,應視為兩者都包含此內(nèi)容。如果說明書與圖紙相矛盾,以說明書為準。
但在本合同生效后,雙方同意對說明書進行的修改,可能會引起合同與說明書不一致或矛盾時,則以修改或變動為準。 3 定義 沒有指明"銀行日"或"工作日"的"日"應理解為"日歷日"。 在此證實,有關各方于本文開頭寫明的日期正式簽署本合同。 買方: (簽名) 姓名: 職務: 證人: 賣方: (簽名) 姓名: 職務: 證人: 承造方: 表"A" 不可撤消的付款保函 致: 日期: 敬啟者 不可撤消的付款保函號 應 船廠(以下稱為賣方)要求并鑒于你方同意按照你方與賣方于 年 月 日簽訂的標號為H ,載重噸為 的 船(以下簡稱為本船)的建造合同(以下簡稱本合同)在交船前支付賣方各期款項,我們(擔保方)特在此向你方保證賣方退還總額不超過 美元(USD )的款項。即根據(jù)本合同你方在交船前支付的本船合同價的第一期付款 美元整(USD ),本合同價的第二期付款 美元整(USD ),本合同價的第三期付款 美元整(USD ),以及本合同價的第四期付款 美元整(USD )。若上述款項或其一部分根據(jù)本合同條款(第十條或第十二條2(2))應由賣方償付而賣方未付,且你方是因交船允許延遲而解除合同,我們將支付賣方應付金額,但無利息,如延遲交船總計達 天,你方根據(jù)本合同第八條第三款或第三條1(3),2(3),3(3)或4(3)所述情況解除合同,我方支付你方款項及利息,年利率為百分之 ( %),其他情況下年利率為百分之 ( %),在收到你方要求退款的有關書面要求后三十(30)個營業(yè)日之內(nèi),我方即支付上述款項。 但,當你方與賣方就下列問題有分歧時: (1)賣方是否有責任退還你方支付的各分期付款,以及 (2)你方最終是否有權要求我們付款以及賣方或你方根據(jù)本合同第十三條將此分歧提交仲裁時,我們有權解除和延遲付款直至買賣雙方之間的仲裁裁決公布,且只有在仲裁裁決要求賣方退款和按英國法律賣方已放棄或不再實施任何上訴權時,我們才有義務付款。如果賣方不履行裁決判決,我們則應付清裁決范圍內(nèi)規(guī)定的金額,總金額不超過擔保金額加上述利息。 上述退款我方將以美元形式支付你方已付的貨幣金額。本保函于賣方根據(jù)本合同在交船前收到你方的第一期付款時生效。本保函項下有效金額應與你方在本船交付前實際支付的總金額相符。但保函所付金額無論如何不應超過你方付給賣方的實際金額,以及上述從賣方實際收到每筆分期付款開始到退款日為止所計的利息,年利率根據(jù)具體情況為百分之 ( %)或 ( %)。 本保函有效期至本船交給你方及你方接受時止,或者依據(jù)本合同賣方或我們已向你方退款時止,或直到 日(根據(jù)本合同第七條規(guī)定的交船期后第三十天)止。上述情況取其發(fā)生在前者。此后你方須以航空件將此保函退至我方以示撤消。但在下述情況下: (1)如果本船仍在建造尚未完工,本保函有效期延至 日(即本合同第七條規(guī)定的交船期后 天),或延至本合同規(guī)定的交船及為你方接受的日期,如果此日期在前,或者 (2)如果你方與賣方就本合同所述事項訴諸仲裁時,本保函有效期將自動延至仲裁裁決下達后第三十(30)日。 本保函適用中國法律。 中國銀行 表"B"第二、第三及第四期款項不可撤消的付款保函 銀 行 致: 船廠 日期: 敬啟者: (1)鑒于你方與買方 (以下簡稱買方)于 年 月 日簽訂了一艘載重噸為 公噸 船,即船廠標號為 船(以下簡稱本船)的銷售合同(建造合同),我們作為第一債務人,而不僅是一個擔保方,特此不可撤消地絕對地及無條件地保證,買方按時支付如下述(2)詳細規(guī)定的 美元( )合同總價中的第二、第三及第四期的所有款項。 (2)根據(jù)本造船合同條款,下述受?铐棸ū敬_工后三(3)個銀行日內(nèi)買方應付的第二期款項,計 美元整( )以及本船第一只分段上船臺后三(3)個銀行日內(nèi)買方應付的第三期款項,以及本船下水后三(3)個銀行日內(nèi)買方應付的第四期款項,計 美元整( )。 (3)作為第一債務人,而不僅僅是一個擔保方,我們亦不可撤消地、絕對地及無條件地保證按時支付每期受保違約款利息,利息按年利率百分之 ( %)自每期付款違約的當天起至該違約款付清止計算。 (4)如果買方違約沒有按時支付任一期受?铐,或者買方?jīng)]有支付任一期款項利息,如該違約持續(xù)時間達十五(15)天,那么我們收到你方的第一份書面通知,將立即支付第二期、第三期及第四期款項及第(3)項所述的利息給你方或你代理人,同時不要求你方對賣方或你所持的抵押品采取進一步的行動、措施或步驟。
(5)我們特此同意本保函及下述義務可轉讓,由你方選擇,如被轉讓,將保證你方所指定的任一第三方的利益或者中國銀行總行營業(yè)部作為你方的代理人,上述第三方或中國銀行總行營業(yè)部被視為已在此處指定。
(6)本保函下由我方支付的任一款項應以美元形式電匯給 銀行,轉入你方在 的帳戶,受益人為你方及你方代理人,賣方指定的接收行,或賣方臨時指定的其他接收行。 (7)我們的責任不受如下因素的影響或損害:在本建造合同項下作為賣方的你方與買方發(fā)生的任何爭議、或不管何種原因引起的造船延誤和/或交船延誤,或造船、交船期的變更或延期,或現(xiàn)在及以后與此有關的任何抵押品與賠償,或由你方或其他與此有關的任何他人所給予的赦免,或與此有關的條款的不履行或無效,或除上述以外的其他任何減少本保函下責任的因素如任一行為,疏漏、事實或條件。
(8)你方的任一書面聲明和要求須經(jīng)你方一位負責人簽發(fā)遞交我方,或如果郵寄則寄至 (或我們書面通知你方的其他地點),或是經(jīng)中國銀行書面確認的合法電傳(電傳號: )。 (9)本保函一經(jīng)你方收到即開始全面生效并且有效期持續(xù)至賣方交船,買方接受本船并且買方已全部履行接船責任,或持續(xù)至買方或我方已全部付清第二期、第三期和第四期款項以及相應利息,兩者中取其早者。 (10)但根據(jù)本保函,我們付給你方的最大款項金額不超過總額 美元,即如下金額: (a)本保函擔保的第二期、第三期及第四期款項總計 美元,和 (b)年利率百分之 ( %),為期六十(60)天的分期款項的利息 美元。 (11)本保函下由我方支付的所有款項,不得抵消、反訴和因任何稅、關稅或收費被減少或扣留,除非法律要求。如屬后者,我們將在許可范圍內(nèi)盡量減少或少留,并且,如有必要,支付額外金額以使你方凈收入在減少扣留后仍等于未經(jīng)減少或扣留的應付金額。 (12)本保函按英國法律解釋,我們特此為在英國境內(nèi)進行的任何法律行為或訴訟向不享有司法特權的英國法庭呈遞此保函。 (13)本保函于上述日期到期。此后,你方須退回此保函并不附帶任何要求。 (14)我們于上述年月日授權代表使本保函生效并已遞交。 茲以為證。 謹上 簽字
SHIPBUILDING CONTRACT FOR CONSTRUCTION OF ONE (HULL NO. ) BETWEEN as BUYER and SHIPYARD as SELLER SHIPBUILDING CONTRACT FOR CONSTRUCTION OF ONE DEADWEIGHT (HULL NO. ) This CONTRACT, entered into this day of by and between , a corporation organized and existing under the Laws of , having its registered office at (hereinafter called the "Buyer" ) on one part; and Shipyard, a corporation organized and existing under the Laws of People’s Republic of China, having its registered office at , the People’s Republic of China (hereinafter called the "Seller") WITNESSES In consideration of the mutual covenants contained herein, the Seller agrees to build, launch, equip and complete at the Seller’s Shipyard and to sell and deliver to the Buyer after completion and successful trial one (1) Vessel as more fully described in Article I hereof, to be registered under the flag of and the Buyer agrees to purchase and take delivery of the aforesaid Vessel from the Seller and to pay for the same in accordance with the terms and conditions hereinafter set forth. ARTICLE I DESCRIPTION AND CLASS 1. DESCRIPTION: The Vessel is a metric tons deadweight, at designed draft of meters (hereinafter called the "Vessel") of the class described below. The Vessel shall have the Seller’s Hull No. and shall be constructed, equipped and completed in accordance with the following "Specifications": (1)Specification (Drawing No. ) (2)General Arrangement (Drawing No. ) (3)Midship Section (Drawing No. ) (4)Makers list (Drawing No. ) Attached hereto and signed by each of the parties to the Contract (hereinafter collectively called the "Specifications"), making an integral part hereof. 2. CLASS AND RULES The Vessel, including its machinery and equipment, shall constructed in accordance with the rules and regulations (hereinafter called the "Classification Society") and shall be distinguished in the record by the symbol of + , , , , , and shall also comply with the rules are regulations as fully described in the Specifications. The Seller shall arrange with the Classification Society assign a representative or representatives (hereinafter called the "Classification Surveyor") to the Seller’s Shipyard for supervision of the construction of the Vessel. All fees and charges incidental to Classification and to comply with the rules, regulation and requirements of this Contract as described in the Specifications issued up to the date of this Contract as well as royalties, if any, payable on account of the construction of the Vessel shall be for the account of the Seller, except as otherwise provided and agreed herein. The key plans, materials and workmanship entering into the construction of Vessel shall at all times be subject to inspections and tests in accordance with the rules and regulations of the Classification Society. Decisions of the Classification Society as to compliance or noncompliance with Classification rules and regulations shall be final and binding upon the parties hereto. 3. PRINCIPAL PARTICULARS AND DIMENSIONS OF THE VESSEL (a) Hull: Length overall abt: . m Length between perpendiculars . m Breadth . m Depth . m Design Draft . m (b) Propelling Machinery The Vessel shall be equipped, in accordance with the Specifications, with type Main Engine. 4. GUARANTEED SPEED The Seller guarantees that the trial speed, after correction, is to be not less than nautical miles per hour on the loaded condition stipulated in the Specification. The trial speed shall be corrected for wind speed and shallow water effect. The correction method of the speed shall be specified in the Specifications. 5. GUARANTEED FULE CONSUMPTION The Seller guarantees that the fuel oil consumptions of the Main Engine is not to exceed grams/ brake horse power/ hour at normal continuous output at shop trial based on diesel fuel oil having a lower calorific value of , kilocalories per kilogram. 6. GUARANTEED DEADWEIGHT The Seller guarantees that the VESSEL is to have a deadweight of not less than, metric tons at the designed loaded draft of meters in sea water of 1.025 specific gravity. The term, "Deadweight", as used in this Contract, shall be as defined in the Specifications. The actual deadweight of the Vessel expressed in metric tons shall be based on calculations made by the Seller and checked by the Buyer, and all measurements necessary for such calculations shall be performed in the presence of the Buyer’s supervisor (s) or the party authorized by the Buyer. Should there be any dispute between the Seller and the Buyer and the Buyer in such calculations and/ or measurements, the decision of the Classification Society shall final. 7. SUBCONTRACT: The Seller may, at its sole discretion and responsibility, subcontract any portion of the construction work of the Vessel to experienced subcontractors, but delivery and final assembly into the Vessel of any such work subcontracted shall be at the Seller’s Shipyard. The Seller shall remain responsible for such subcontracted work. 8. REGISTRATION: The Vessel shall be registered by the Buyer at its own cost and expense under the laws of at the time of delivery and acceptance thereof. ARTICLE I CONTRACT PRICE & TREMS OF PAYMENT 1. CONTRACT PRICE: The purchase price of the Vessel/7 is United States Dollars (US $), net receivable by the Seller (hereinafter called the "Contract Price"), which is exclusive of the cost for the Buyer’s Supplies as provided in Article V hereof, and shall be subject to upward or downward adjustment, if any, as hereinafter set forth in this Contract. 2. CURRENCY: Any and all payments by the Buyer to the Seller under this Contract shall be made in United States Dollars. 3. TERMS OF PAYMENT: The Contract Price shall be paid by the Buyer to the Seller in installments as follows: (a) 1st Installment: The sum of United States Dollars (US $ ) , representing percent ( %) of the Contract Price, shall become due and payable and be paid by the Buyer concurrently with this contract being singed and provided that Seller shall have submitted to the Buyer the Refund Guarantee in the form annexed hereto as Exhibit "A" issued by Bank of China, Beijing, the People’s Republic of China, and provided further that the Seller shall have received the first class international bank’s Letter of Guarantee in accordance with Paragraph 6 of this Article. (b) 2nd Installment: The sum of United States Dollars (US $ ), representing percent ( %) of the Contract Price, shall become due and payable and be paid within three (3) bank business days after the cutting of the first steel plate of the Vessel in the Seller’s workshop. The Seller shall notify with a telex or telefax notice to the Buyer stating that the 1st steel plate has been cut in its workshop and demand for payment of the installment as soon as the cutting of the steel is made. (c) 3rd Installment: The sum of United States Dollars (US $ ), representing percent ( %) of the Contract Price, shall become due and payable and be paid with in three (3) bank business days after keel-laying of the first section of the Vessel. The keel-laying shall be notified by the Seller with a telex or telefax notice to the Buyer stating that the said keel-laying has been carried out. The Seller shall send to the Buyer a telex or telefax demand for payment of this installment as soon as the keel-laying is carried out. (d) 4th Installment: The sum of United States Dollars (US $ ), representing percent ( %) of the Contract Price, shall become due and payable and be paid within three (3) bank business days after launching of the Vessel. The launching of the Vessel shall be notified by the Seller with a telex or telefax notice to the Buyer stating that the launching of the Vessel has been carried out. The Seller shall send to the Buyer a telex or telefax demand for payment of this installment as soon as the Vessel is launched. (e) 5th Installment (Payment upon Delivery of the Vessel): The sum of United States Dollars (US $ ), representing percent ( %) of the Contract Price plus any increase or minus any decrease due to modifications and/ or adjustments of the Contract Price in accordance with provisions of the relevant Article hereof, shall become due and payable and be paid by the Buyer to the Seller concurrently with delivery of the Vessel. The Seller shall send to the Buyer a telex or telefax demand for this installment ten (10) days prior to the scheduled date of delivery of the Vessel. 4. METHOD OF PAYMENT (a) 1st Installment: The Buyer shall remit the amount of this installment in accordance with Article Ⅱ, Paragraph 3 (a) by telegraphic transfer to the receiving bank nominated by the Seller, for credit to the account of the Seller, or through other receiving bank nominated by the Seller. (b) 2nd Installment: The Buyer shall remit the amount of this installment in accordance with Article Ⅱ, Paragraph 3 (a) by telegraphic transfer to the receiving bank nominated by the Seller, for credit to the account of the Seller, or through other receiving bank to be nominated by the Seller from time to time and such nomination shall be notified to the Buyer at least 10 days prior to the due date for payment. (c) 3rd Installment: The Buyer shall remit the amount of this installment in accordance with Article Ⅱ, Paragraph 3 (a) by telegraphic transfer to the receiving bank nominated by the Seller, for credit to the account of the Seller, or through other receiving bank to be nominated by the Seller from time to time and such nomination shall be notified to the Buyer at least 10 days prior to the due date for payment. (d) 4th Installment: The Buyer shall remit the amount of this installment in accordance with Article Ⅱ, Paragraph 3 (a) by telegraphic transfer to the receiving bank nominated by the Seller, for credit to the account of the Seller, or through other receiving bank to be nominated by the Seller from time to time and such nomination shall be notified to the Buyer at least 10 days prior to the due date for payment. (e) 5th Installment (Payable upon delivery of the Vessel): The Buyer shall, at least three (3) bank business days prior to the scheduled date of delivery of the Vessel, make an irrevocable cash deposit in the name of the Buyer with the bank nominated by the Seller, for a period of thirty (30) days and covering the amount of this installment ( as adjusted in accordance with the provisions of this Contract), with an irrevocable instruction that the said amount shall be released to the Seller against presentation by the Seller to the said Bank, of a copy of the Protocol of Delivery and Acceptance signed by the Buyer’s authorized representative and the Seller. Interest, if any, accrued from such deposit, shall be for the benefit of the Buyer. If the delivery of the Vessel is not affected on or before the expiry of the aforesaid 30 days deposit period, the Buyer shall have the right to withdraw the said deposit plus accrued interest upon the expiry date. However, when the new scheduled Delivery Date is notified to the Buyer by the Seller, the Buyer shall make the cash deposit in accordance with the same terms and conditions as set out above. 5. PREPAYMENT: The Buyer shall have the right to make prepayment of any and all installments before delivery of the Vessel, by giving to the Seller at least thirty (30) days prior written notice, without any price adjustment of the Vessel for such prepayment. 6. SECURITY FOR PAYMENT OF INSTALLMENTS BEFORE DELIVERY: The Buyer shall, concurrently when this Contract being signed, deliver to the Seller an irrevocable and unconditional Letter of Guarantee in the form annexed hereto as Exhibit "B" in favor of the Seller issued by a first class international bank (hereinafter called the "Guarantor") acceptable to Bank of China and the Seller. This guarantee shall secure the Buyer’s Obligation for the Payment of all 2nd, 3rd and 4th installments of the Contract Price. 7. REFUNDS All payments made by the Buyer prior to delivery of the Vessel shall be in the nature of advance to the Seller, and in the event this Contract is rescinded or canceled by the Buyer, all in accordance with the specific terms of this Contract permitting such rescission or cancellation, the Seller shall refund to the Buyer in United States Dollars the full amount of all sums already paid by the Buyer to the Seller under this Contract, together with interest (at the rate set out in respective provision thereof) from the respective payment date (s) to the date of remittance by telegraphic transfer of such refund to the account specified by the Buyer. As security to the Buyer, the Seller shall deliver to the Buyer, concurrently with this Contract being signed, a Refund Guarantee to be issued by the Bank of China, Head Office, Banking Department, Beijing, the People’s Republic of China in the form as per Exhibit "A" annexed hereto. However, in the event of any dispute between the Seller and the Buyer with regard to the Seller’s obligation to repay the installment or installments paid by the Buyer and to the Buyer’s right to demand payment from Bank of China, Head Office, under its, guarantee, and such dispute is submitted either by the Seller or by the Buyer for arbitration in accordance with Article Ⅷ hereof or for appeal or appeals in accordance with the English laws, Bank of China shall withhold and defer payment until the arbitration award between the Seller and the Buyer is published. Bank of China shall not be obligated to make any payment unless the arbitration award orders the Seller to make repayment and any right of appeal available to the Seller under English laws is waived or is not exercised by the Seller in accordance with English laws. If the Seller fails to honor the award or judgment, then Bank of China shall refund to the extent the arbitration award (or any court judgment) orders. ARTICLE Ⅲ ADJUSTMENT OF THE CONTRACT PRICE The Contract Price of Vessel shall be subject to adjustments as hereinafter set forth. It is hereby understood by both parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty. 1. DELIVERY (a) No adjustment shall be made, and the Contract Price shall remain unchanged for the first thirty (30) days of delay in delivery of the Vessel beyond the Delivery Date as defined in Article Ⅶ hereof, then, in such event, beginning at twelve o’clock midnight of the thirtieth day after the date on which delivery is required under this Contract, the Contract Price of the Vessel shall be reduced by deducting there from the sum of United States Dollars (US $ ) per day. Unless the parties hereto agree otherwise, the total reduction in the Contract Price shall be deducted from the fifth installment of the Contract Price and in any event (including the event that the Buyer consents to take the Vessel at the later delivery date after the expiration of days delay of delivery as described in Paragraph 1 (c) of this Article) shall not be more than one hundred and ( ) days at the above specified rate of reduction after the thirty (30) days allowance, that is United States Dollars (US $ ) being the maximum. (c) If the delay in the delivery of the Vessel continue for a period of ( ) days (being the total of non-permissible delays and permissible delays) after the Delivery Date as defined in Article Ⅶ, then in such event, the Buyer may, at its option, rescind or cancel this Contract in accordance with the provisions of Article X of this Contract. The Seller may at any time after the expiration of the aforementioned ( ) days, if the Buyer has not served notice of cancellation pursuant to Article X, notify the Buyer of the date upon which the Seller estimate the Vessel will be ready for delivery and demand in writing that the Buyer make an election, in which case the Buyer shall, within thirty (30) days after such demand is received by the Buyer, either notify the Seller of its decision to cancel this Contract, or consent to take delivery of the Vessel at an agreed future date, it being understood and agreed by the parties hereto that, if the Vessel is not delivered by such future date, the Buyer shall have the same right of cancellation upon the same terms, as hereinabove provided. (d) For the purpose of this Article, the delivery of the Vessel shall not be deemed delayed and the Contract Price shall not be reduced when and if the Delivery Date of the Vessel is extended by reason of causes and provisions of Article Ⅴ, Ⅵ, Ⅺ, Ⅻ and ⅩⅢ hereof. The Contract Price shall not be adjusted or reduced if the delivery of the Vessel is delayed by reason of permissible delays as defined in Article ⅩⅢ hereof. (e) If the Seller notifies the Buyer by telex that the delivery of the Vessel shall be made earlier than the specified Delivery Date as defined in Article Ⅶ of the Contract and such notification being given not less than ( ) months prior to the newly planned delivery date, be certain amount of bonus shall be given by the Buyer to the Seller as follows: In the event that the delivery shall be made within fifteen (15) days earlier than the specified Delivery Date the Contract Price shall remain unchanged. In the event that the delivery shall be made more than fifteen (15) days earlier than the specified Delivery Date, then a bonus shall be added to the Contract Price at a rate of United States Dollars (US $ ) per day for each full day earlier than the 15th day earlier than the Delivery Date. The total increase of the Contract Price for the earlier delivery shall be added to the fifth installment of the Contract Price, however, shall not be more than the sum of United States Dollars (US $ ). For the purpose of determining the increase of the Contract Price under this Paragraph 1(e), the Seller shall not be entitled to be bonus contemplated under Paragraph 1(e) of this Article for the period between the Delivery Date defined in Article Ⅶ and the date to which the delivery of the Vessel is extended by reason of the permissible delays. (f) In the event that the Seller is unable to deliver the Vessel on the newly planned delivery date as declared, the Vessel can, nevertheless, be delivered by the Seller at a date after such declared newly planned date. In such circumstances, and for the purpose of determining the liquidated damages to the Buyer (according to the provisions of Paragraph 1 (b) of this Article) and the Buyer’s right to cancel or rescind this Contract (according to the provisions of Paragraph 1 (c) of this Article), the newly planned delivery date declared by the Seller shall not be in any way treated or taken as having substituted the original Delivery Date as defined in Article Ⅶ. The Buyer’s aforesaid right for liquidated damages and to cancel or rescind this Contract shall be accrued, operated or exercised only to the extent as described in Paragraph 1(a), 1(b) and/ or 1(c) of Article Ⅲ. In whatever circumstance, the Delivery Date as defined in Article Ⅶ (not the newly planned delivery date as declared by the Seller), shall be used to regulate, as so described in Paragraph 1(a), 1(b) and/ or 1(c)of Article Ⅲ, the Buyer’s right for liquidated damages and to rescind this Contract and the Seller’s liability to pay the aforesaid liquidated damages resulting from the delay in delivery of the Vessel. If the Vessel is actually delivered on a date after the newly planned date as declared by the Seller but before the Delivery Date as defined in Article Ⅶ, then a bonus shall nevertheless be accrued and paid to the Seller in accordance with Paragraph 1(e) of Article Ⅲ. 2. INSUFFICIENT SPEED (a) The Contract Price of the Vessel shall not be affected nor changed by reason of the actual speed (as determined by the Trial Run after correction according to the Specifications) being less than 0.3 of one knot below the guaranteed speed as specified in Paragraph 4 of Article I of this Contract. (b) However, commencing with and including a deficiency of 0.3 of one knot in actual speed (as determined by the Trial Run after correction according to the Specifications) below the guaranteed as specified in Paragraph 4, Article I of this Contract, the Contract Price shall be reduced as follows: In case of deficiency of less than 0.30 knot US$ In case of deficiency at or above 0.30 but below 0.40 knot US$ at or above 0.40 but below 0.50 knot US$ at or above 0.50 but below 0.60 knot US$ at or above 0.60 but below 0.70 knot US$ at or above 0.70 but below 0.80 knot US$ at or above 0.80 but below 0.90 knot US$ at or above 0.90 but below 1.00 knot US$ (c) If the deficiency in actual speed (as determined by the Trial Run after correction according to the Specifications) of the Vessel upon the Trial Run, is more than 1.00 knot below the guaranteed speed of knots, then the Buyer may at its option reject the Vessel and rescind this Contract in accordance with provision of Article X of this Contract, or may accept the Vessel at a reduction in the Contract Price as above provided, by United States Dollars only (US$ ) being the maximum. 3. EXCESSIVE FUEL CONSUMPTION (a) The Contract Price of the Vessel shall not be affected nor changed if the actual fuel consumption of the Main Engine, as determined by shop trial in manufacturer’s works, as per the Specifications, is greater than the guaranteed fuel consumption as specified and required under the provisions of this Contract and the Specifications if such actual excess is equal to or less than percent ( %). (b) However, if the actual fuel consumption as determined by shop trial is greater than percent ( %) above the guaranteed fuel consumption then, the Contract Price shall be reduced by the sum of United States Dollars (US$ ) for each full one percent (1%) increase in fuel consumption in excess of the above said percent ( %) (fractions of one percent to be prorated). (c) If as determined by shop trial such accrual fuel consumption of the Main Engine is more than the percent (10%) in excess of the guaranteed fuel consumption, i.e. the fuel consumption exceeds gram/ BHP/ hour, the Buyer may, at its option, reject the Vessel and rescind this Contract, in accordance with the provisions of Article X of this Contract or may accept the Vessel at a reduction in the Contract Price by United States Dollars (US$ ) being the maximum. 4. DEADWEIGHT (a) In the event there is a deficiency in the actual deadweight if the Vessel determined as provided in the Specifications, the Contract Price shall not be decreased if such deficiency is ( ) metric tons or less below the guaranteed deadweight of metric tons at assigned designed draft. (b) However, the Contract Price shall be decreased by the sum of United States Dollars (US$ ) for each full metric ton of such deficiency being more than ( ) metric tons. (c) In the event that there should be a deficiency in the Vessel’s actual deadweight which exceeds ( ) metric tons below the guaranteed deadweight, the Buyer may, at its option, reject the Vessel and rescind Contract in accordance with the provisions of Article X of this Contract, or may accept the Vessel with reduction in the Contract Price in the maximum amount of United States Dollars ( US$ ). (d) In the event that the actual deadweight of the Vessel is in excess of the guaranteed deadweight of metric tons at assigned designed draft, the Contract Price shall not be increased for the first ( ) metric tons in excess of the guaranteed deadweight of metric tons. However, the Contract Price shall be increased by the sum of United States Dollars (US$ ) for each full metric ton of the excess being more than ( ) metric tons. The total increase of the Contract Price for the increase of the deadweight shall be added to the fifth installment of the Contract Price, however, shall not be more than the sum of United States Dollars (US$ ). 5. EFFECT OF RESCISSION It is expressly understood and agreed by the par,ties hereto that in any case as stated herein, if the Buyer rescinds this Contract pursuant to any provision under this Article, the Buyer, save its rights and remedy set out in Article X hereof, shall not be entitled to any liquidated damages or compensation whether described above or otherwise. ARTICLE Ⅳ SUPERVISION AND INSPECTION 1. APPOINTMENT OF THE BUYER’S SUPERVISOR The Buyer shall send in good time to and maintain at the Seller’s Shipyard, at the Buyer’s own cost and expense, one or more representative(s) who shall be duly accredited in writing by the Buyer (such representative(s) being hereinafter collectively and individually called the "Supervisor") to supervise and survey the construction by the Seller of the Vessel, her engines and accessories. The Seller herby warrants that, the necessary visa for the Supervisor to enter China will be issued in order to demand and without delay provided that the Supervisor meets with the rules, regulations and Laws of the People’s Republic of China. The Buyer undertakes to give the Seller adequate notice for the application of visa. 2. APPROVAL OF PLANS AND DRAWINGS The parties hereto shall, within ( ) days after signing of this Contract, mutually agree a list of all the plans and drawing, which are to be sent to the Buyer for approval (hereinafter called "the List"). Before arrival of the Supervisor at the Seller’s Shipyard, the plans and drawings specified in the List shall be sent to the Buyer, and the Buyer shall, within ( ) days after receipt thereof (excluding mailing time), return such plans and drawings submitted by the Seller with approval or remarks, if any. Concurrently with the arrival of the Supervisor at the Seller’s Shipyard, the Buyer shall notify the Seller in writing, stating the authority which the said Supervisor shall have, with regard to the Supervisor can, on behalf of the Buyer, approve or disapprove, as the case may be, which of the plans and drawings specified in the List but not yet been sent to the Buyer, nevertheless in line with the Supervisor’s authority. The Supervisor shall, within ( ) days after receipt thereof, return those plans and drawing with approval or remarks, if any. Unless notification is given to the Seller by the Supervisor or the Buyer of approval or disapproval of any plans and drawings within the above designated period of time for each, case, the said plans and drawings shall be deemed to have been automatically approved. The plans and drawings approved by the Buyer or Supervisors shall be final, and any alteration thereof shall be regarded as modification specified in Article V of this Contract. 3. SUPERVISION AND INSPECTION BY THE SUPERVISOR The necessary inspection of the Vessel, its machinery, equipment and outfitting shall be carried out by the Classification Society, and/ or inspection team of the Seller throughout the entire period of construction in order to ensure that the construction of the Vessel is duly performed in accordance with the Contract and Specifications. The Supervisor shall have, at all times until delivery of the Vessel, the right to attend tests according to the mutually agreed test list and inspect the Vessel, her engines, accessories and materials at the Seller’s Shipyard, its subcontractors or any other place where work is done or materials stored in connection with the Vessel. In the event that the Supervisors discovers any construction or material or workmanship which does not or will not confirm to the requirements of this Contract and the Specifications, the Supervisor shall promptly give the Seller a notice in writing as to such nonconformity, upon receipt of which the Seller shall correct such non-conformity if the Seller agrees with the Buyer. However the Buyer undertakes and assures the Seller that the Supervisor shall carry out his inspections in accordance with the agreed inspection procedure and schedule and usual shipbuilding practice and in a way as to minimize any increase in building costs and delays in the construction of the Vessel. The Seller agree to furnish free of charge the Supervisor with office space, and other reasonable facilities according to Seller’s practice at, or in the immediate vicinity of the Seller’s Shipyard. At all times, during the constructions of the Vessel until delivery thereof, the Supervisor shall be given free and ready access to the Vessel, her engines and accessories, and to any other place where the work is being done, or the materials are being processed or stored, in connection with the construction of the Vessel, including the yards, workshops, stores of Seller, and the premises of subcontractors of the Seller, who are doing work, or storing materials in connection with the Vessel’s construction. The travel expenses for the said access to Seller’s subcontractors outside of (city) shall be at Buyer’s account. The transportation within (city) shall be provided to the Supervisor by the Seller. 4. LIABITITY OF THE SELLER The Supervisor engaged by the Buyer under this Contract shall at all times be deemed to be in the employ of the Buyer. The Seller shall be under no liability whatsoever to the Buyer, or to the Supervisor or the Buyer’s employees or agents for personal injuries, including death, during the time when they, or any of them, are on the Vessel, or within the premises of either the Seller or its subcontractors, or are otherwise engaged in and about the construction of the Vessel, unless, however, such personal injuries, including death, were caused by gross negligence of the Seller, or of any of the Seller’s employees or agents or subcontractors of the Seller. Nor shall the Seller be under any liability whatsoever to the Buyer for damage to, or loss or destruction of property in China of the Buyer or of the Supervisor, or of the Buyer’s employees or agents, unless such damage, loss or destruction was caused by gross negligence of the Seller, or of any of the employees, or agents or subcontractors of the Seller. 5. SALARIES AND EXPENSES All salaries and expenses of the Supervisor, or any other employees employed by the Buyer under this Article, shall be for the Buyer’s account. 6. REPORT OF PROGESS The Buyer is entitled to require the Seller to report the condition of progress as to the construction of the Vessel whenever the Buyer requires during the construction of the Vessel. 7. REPLACEMENT OF SUPERVISOR The Seller has the right to request the Buyer in writing to replace any of the Supervisors who is deemed unsuitable and unsatisfactory for the proper progress of the Vessel’s construction together with reasons. The Buyer shall investigate the situation by sending its representative to the Seller’s yard, if necessary, and if the Buyer considers that such Seller’s request is justified, the Buyer shall effect the replacement as soon as possible. ARTICLE V MODIFICATION CHANGES AND EXTRAS 1. HOW EFFECTED The Specifications and Plans in accordance with which the Vessel is constructed, may be modified and/ or changed at any time hereafter by written agreement of the parties hereto, provided that such modifications and/ or changes or an accumulation thereof will not, in the Seller’s reasonable judgment, adversely affect the Seller’s other commitments and provided further that the Buyer shall assent to adjustment of the Contract Price, time of delivery of the Vessel and other terms of this Contract, if any, as hereinafter provided. Subject to the above, the Seller hereby agree to exert their best efforts to accommodate such reasonable requests by the Buyer so that the said changes and/ or modifications may be made at a reasonable cost and within the shortest period of time which is reasonable and possible. Any such agreement for modifications and/ or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the Vessel together with an agreement as to nay extension or reduction in the time of delivery, providing to the Seller additional securities satisfactory to the Seller, or any other alterations in this Contract, or the Specification occasioned by such modifications and/ or changes. The aforementioned agreement to modify and/ or to change the Specifications may be effected by an exchange of duly authenticated letters or telex, manifesting such agreement. The letters and telexes exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment of the Specifications under which the Vessel shall be built, and such letters and telexes shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of the agreement to modify and/ or to change the Specifications, the Seller shall alter the construction of the Vessel in accordance therewith, including any additions to, or deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties fail to agree on the adjustment of the Contract Price or extension of time of delivery or providing additional security to the Seller or modification of any terms of this Contract which are necessitated by such modifications and/ or changes, then the Seller shall have no obligation to comply with the Buyer’s request for any modification and/ or changes. 2. CHANGES IN RULES AND REGULATIONS (1) If, after the date of signing this Contract, any requirement as to the rules and regulations as specified in this Contract and the Specifications to which the construction of the Vessel is required to confirm, are altered or changed by the Classification Society or the other regulatory bodies authorized to make such alterations or changes, the Seller and/ or the Buyer, upon receipt of the notice thereof, shall transmit such information in full to each other in writing, whereupon within ( )days after receipt of the said notice by the Buyer from the Seller or vice versa, the Buyer shall instruct the Seller in writing as to the alterations or changes, if any, to be made in the Vessel which the Buyer in its sole discretion, shall decide. The Seller shall promptly comply with such alterations or changes, if any in the construction of the Vessel, provided that the Buyer shall first agree. (a) As to any increase or decrease in the Contract Price of the Vessel that is occasioned by the cost for such compliance; and/ or (b) As to any extension in the time for delivery of the Vessel that is necessary due to such compliance; and/ or (c)As to any increase or decrease in the guaranteed deadweight and speed of the Vessel, if such compliance results in increased or reduced deadweight and speed, and/ or (d) As to any other alterations in the terms of this Contract or of Specifications or both, if such compliance makes such alterations of the terms necessary. (f) If the price is to be increased, then, in addition, as to providing to the Seller additional securities satisfactory the Seller. Agreements as to such alterations or changes under this Paragraph shall be made in the same manner as provided above for modifications and/ or changes of the Specifications and/ or Plans. (2) If, due to whatever reasons, the parties fail to agree on the adjustment of the Contract Price or extension of the time for delivery or increase or decrease of the guaranteed speed and deadweight or providing additional security to the Seller or any alternation of the terms of this Contract, if any, then the Seller shall be entitled to proceed with the construction of the Vessel in accordance with, and the Buyer shall continue to be bound by, the terms of this Contract and Specifications without making any such alterations or changes. 3. SUBSTITUTION OF MATERIALS AND/ OR EQUIPMENT In the event that any of the materials and/ or equipment required by the Specifications or otherwise under this Contract for the construction of the Vessel cannot be procured in time to effect delivery of the Seller, the Seller may, provided the Seller shall provide adequate evidence and the Buyer so agrees in writing, supply the materials and/ or equipment of the equivalent quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the Vessel must comply. 4. BUYER’S SUPPLIED ITEMS The Buyer shall deliver to the Seller at its shipyard the items as specified in the Specifications which the Buyer shall supply on its account by the time designated by the Seller. Should the Buyer fail to deliver to the Seller such items within the time specified, the delivery of the Vessel shall automatically be extended for a period of such delay, provided such delay in delivery of the Buyer’s supplied items shall affect the delivery of the Vessel. In such event, the Buyer shall pay to the Seller all losses and damages sustained by the Seller due to such delay in the delivery of the Buyer’s supplied items and such payment shall be made upon delivery of the Vessel. Furthermore, if the delay in delivery of the Buyer’s supplied items should exceed ( ) days, the Seller shall be entitled to proceed with construction of the Vessel without installation of such items in or onto the Vessel, without prejudice to the Seller’s right hereinabove provided, and the Buyer shall accept the Vessel so completed. The Seller shall be responsible for storing and handling of the Buyer’s supplies as specified in the Specifications after delivery to the Seller and shall install them on board the Vessel at the Seller’s expenses. Upon arrival of such shipment of the Buyer’s supplied items, both parties shall undertake a joint unpacking inspection. If any damages are found to be not suitable for installation, the Seller shall be entitled to refuse to accept the Buyer’s supplied items. ARTICLE Ⅵ TRIALS 1. NOTICE The Buyer and the Supervisor shall receive from the Seller at least thirty (30) days notice in advance and seven (7) days definite notice in advance and seven (7) days definite notice in advance in writing or by telex confirmed in writing, of the time and place of the Vessel’s sea trial as described in the Specifications (hereinafter referred to as "the Trial Run") and the Buyer ad the Supervisor shall promptly acknowledge receipt of such notice. The Buyer’s representatives and/ or the Supervisor shall be on board the Vessel to witness such Trial Run, and to check upon the performance of the Vessel during the same. Failure of the Buyer’s representatives to be present at the Trial Run of the Vessel, after due notice to the Buyer and the Supervisor as provided above, shall have the effect to extend the date for delivery of the Vessel by the period of delay caused by such failure to be present. However, if the Trial Run is delayed more than seven (7) days by reason of the failure of Buyer’s representatives to be present after receipt of due notice as provided above, then in such event, the Buyer shall be deemed to have waived its right to have its representatives on board the Vessel during the Trial Run, and the Seller may conduct such Trial Run without the Buyer’s representatives being present, and in such case the Buyer shall be obliged to accept the Vessel on the basis of a certificate jointly signed by the Seller and the Classification Society certifying that the Vessel, after Trial Run subject to minor alterations and corrections as provided in this Article, if any, is found to confirm to the Contract and Specifications and is satisfactory in all respects. The Seller herby warrants that the necessary visa for the Buyer’s representatives to enter China will be issued in order on demand and without delay otherwise the Trial Run shall be postponed until after the Buyer’s representatives have arrived at the Seller’s Shipyard and any delays as result thereof shall not count as a permissible delay under Article Ⅷ thereof. However, should the nationalities and other personal particulars of the Buyer’s representatives be not acceptable to the Seller in accordance with its best understanding of the relevant rules, regulations and/ or Laws of the People’s Republic of China then prevailing, then the Buyer shall, on the Seller’s telex demand, affect replacement of all or any of them immediately. Otherwise the Delivery Date as stipulated in Article Ⅶ hereof shall be extended by the delays so caused by the Buyer. In the event of unfavorable weather on the date specified for the Trial Run, the same should take place on the first available day thereafter that the weather condition permit. The parties hereto recognize that the weather conditions in Chinese waters in which the Trial Run is to take place are such that great changes in weather may arise momentarily and without warning and, therefore, it is agreed that if during the Trial Run of the Vessel, the weather should suddenly become unfavorable, as would have precluded the continuance of the Trial Run, the Trial Run of the Vessel shall be discontinued and postponed until the first favorable day next following, unless the Buyer shall assent by telex and confirm in writing of its acceptance of the Vessel on the basis of the Trial Run made prior to such sudden changes in weather conditions. In the event that the Trial Run is postponed because of unfavorable weather conditions, such delay shall be regarded as a permissible delay, as specified in Article Ⅷ hereof. 2. HOW CONDUCTED (a) All expense in connection with Trial Run of the Vessel are to be for the account of the Seller, who, during the Trial Run and when subjecting the Vessel to Trial Run, is to provide, at its own expense, the necessary crew to comply with conditions of safe navigation. The Trial Run shall be conducted in the manner prescribed in the Specifications and shall prove fulfillment of the performance required for the Trial Run as set forth in the Specifications. The course of Trial Run shall be determined by the Seller and shall be conducted within the trial basin equipped with speed measuring facilities. (b) The Seller shall provide the Vessel with the required quantities of water, fuel oil and greases with exception of lubrication oil and hydraulic oil which shall be supplied by the Buyer for the conduct of the Trial Run of Trial Runs as prescribed in the Specifications. The fuel oil and greases supplied by the Seller, and lubricating oil and hydraulic oil supplied by the Buyer shall be in accordance with the applicable engine Specifications, and the cost of the quantities of water, fuel oil, lubricating oil, hydraulic oil and greases consumed during the Trial Run or Trial Runs shall be for the account of the Seller. 3. TRIAL LOAD DRAFT In addition to the supplies provided by the Buyer in accordance with sub-paragraph (b) of the preceding Paragraph 2 hereof, the Seller shall provide the Vessel with the required quantity of fresh water and other stores necessary for the conduct of the Trial Run. The necessary ballast (fresh and sea water and such other ballast as may be required ) to bring the Vessel to the trial load draft as specified in the Specifications, shall be for the Seller’s account. 4. METHOD OF ACCEPTANCE OF REJECTION (a) Upon notification of the Seller of completion of the Trial Run of the Vessel, the Buyer or the Buyer’s Supervisor in writing shall within six (6) business days thereafter, notify the Seller by telex confirmation in writing of its acceptance of the Vessel or of its rejection of the Vessel together with the reasons therefore. (b) However, should the result of the Trial Run indicate that the Vessel or any part thereof including its equipment does not confirm to the requirements of this Contract and Specifications, then the Seller shall investigate with the Supervisor the cause of failure and the proper steps shall be taken to remedy the same t and shall make whatever corrections and alterations and/ or re-trial run or runs as may be necessary without extra cost to the Buyer, and upon notification by the Seller of completion of such alteration of corrections and/ or re-trial or re-trials, the Buyer shall, within six (6) business days thereafter, notify the Seller by telex confirmed in writing of its acceptance of its Vessel or of the rejection of the Vessel together with the reason therefore on the basis of the alterations and corrections and/ or re-trial or re-trials by the Seller. (c) In the event that the Buyer fails to notify the Seller by telex confirmed in writing of its acceptance of rejection of the Vessel together with the reason therefore within six (6) business days period as provided for in the above sub-paragraph (a) and (b), the Buyer shall be deemed to have accepted the Vessel. (d) Any dispute arising among the parties hereto as to the result of any Trial Run of further tests or trials, as the case may be, of the Vessel shall be solved by reference to arbitration as provided in Article ⅩⅢ hereof. (e) Nothing herein shall preclude the Buyer from accepting the Vessel with its qualifications and/ or remarks following the Trial Run and/ or further tests or trials as aforesaid and the Seller shall be obliged to comply with and/ or remove such qualifications and/or remarks (if some qualifications and/ or remarks are acceptable to the Seller) at the time before effecting delivery of the Vessel to the Buyer under this Contract. 5. DISPOSITION OF SURPLUS CONSUMABLE STORES Should any amount of fuel oil, fresh water, or other consumable stores furnished by the Seller for the Trial Run or Trial Runs remain on board the Vessel at the time of acceptance thereof by the Buyer, the Buyer agrees to buy the same from the Seller at the current market price at the port of delivery thereof, and payment by the Buyer shall be effected as provided in Article II 3 (f) and 4 (f) of this Contract. The Buyer shall supply lubricating oil and hydraulic oil for the purpose of the Trial Runs at its own expensed and the Seller will reimburse for the amount of lubricating oil and hydraulic oil actually consumed for the said Trail Run or Trial Runs at the original price incurred by the Buyer and payment by the Seller shall be effected as provided in Article II 3 (f) and 4 (f) of this Contract. 6. EFFECT OF ACCEPTANCE The Buyer’s acceptance of the Vessel by written or telex notification sent to the Seller, in accordance with the provisions set out above, shall be final and binding so far as confirmation of the Vessel to this Contract and the Specifications is concerned, and shall preclude the Buyer form refusing formal delivery by the Seller of the Vessel, as hereinafter provided, if the Seller complies with all other procedural requirements for delivery as hereinafter set forth. ARTICLE Ⅶ DELIVERY 1. TIME AND PLACE The Vessel shall be delivered safely afloat by the Seller to the Buyer at the Seller’s Shipyard, in accordance with the Specifications and with all Classification and Statutory Certificates and after completion of Trial Run (or, as the case may be, re-trial or re-trials) and acceptance by the Buyer in accordance with the provisions of Article Ⅵ hereof on or before , 20 provided that, in the event of delays in the construction of the Vessel or any performance required under this Contract due to causes which under the terms of the Contract permit extension of the time for delivery, the aforementioned time for delivery of the Vessel shall be extended accordingly. The aforementioned date or such date to which delivery is extended pursuant to the terms of this Contract is hereinafter called the "Delivery Date". 2. WHEN AND HOW EFFECTED Provided that the Buyer and the Seller shall each have fulfilled all of their respective obligations as stipulated in this Contract, delivery of the Vessel shall be effected forthwith by the concurrent delivery by each of the parities hereto, one to the other, of the Protocol of Delivery and Acceptance, acknowledging delivery of the Vessel by the Seller and acceptance thereof by the Buyer, which Protocol shall be prepared in quadruplicate and executed by each of the parties hereto. 3. DOCUMENTS TO BE DELIVERED TO THE BUYER Upon acceptance of the Vessel by the Buyer, the Seller shall deliver to the Buyer the following documents (subject to the provision contained in Article V 2 hereof) which shall accompany the aforementioned Protocol of Delivery and Acceptance: (a) Protocol of Trials of the Vessel made by the Seller pursuant to the Specifications. (b) Protocol of Inventory of the equipment the Vessel including spare part and the like, all as specified in the Specifications, made by the Seller. (c) Protocol of Stores of Consumable Nature made by the Seller referred to under Paragraph 5 of Article VI hereof. (d) Finished Drawing and Plans pertaining to the Vessel as stipulated in the Specifications, made by the Seller. (e) Protocol of Deadweight and Inclining Experiment, made by the Seller. (f) All Certificates required to be furnished upon delivery of the Vessel pursuant to this Contract and the Specifications which shall be: Certificates shall be issued by relevant Authorities or Classification Society. The Vessel shall comply with the above rules and regulations with are in force at the time of signing this Contract. All the certificates shall be delivered in one (1) original to the Vessel and two (2) copies to the Buyer. If the full term certificate or certificates are unable to issued at the time of delivery by the Classification Society or any third party other than the Seller. Then the provisional certificate or certificates as issued by the Classification Society or the third party other than the Seller with the full term certificates to be furnished by the Seller after delivery of the Vessel and in any event before the expiry of the provisional certificates shall be acceptable to the Buyer. (g) Declaration of Warranty issued by the Seller that the Vessel is delivered to the Buyer free and clear of any liens, charges, claims, mortgages, or other encumbrances upon the Buyer’s title thereto, and in particular, that the Vessel is absolutely free of all burdens in the nature of imposts, taxes or charges imposed by the province or country of the port of delivery, as well as of all liabilities of the Seller to its sub-contractors, employees and crews and/ or all liabilities arising from the operation of the Vessel in Trial Run or Trial Runs, or otherwise, prior to delivery. (h) Commercial Invoice made by the Seller. (i) Bill of Sale made by the Seller. 4. TITLE AND RISK Title to and risk of the Vessel shall pass to the Buyer only upon delivery thereof. As stated above, it being expressly understood that, until such delivery is affected, title to the Vessel, and her equipment, shall remain at all times with the Seller and are at the entire risk of the Seller. 5. REMOVEAL OF VESSEL The Buyer shall take possession of the Vessel immediately upon delivery and acceptance thereof, and shall remove the Vessel from the premise of the Seller with seven (7) days after delivery and acceptance thereof is affected. The Buyer shall not remove the Vessel form the premise of the Seller within the aforesaid seven (7) days then, in such event, without prejudice to the Seller’s right to require to remove the Vessel immediately at any time thereafter, if the Buyer shall pay to the Seller to the reasonable mooring charges of the Vessel. 6. TENDER OF THE VESSEL If the Buyer fails to take delivery of the Vessel after completion thereof according to this Contract and the Specifications without justified reason, the Seller shall have the right to tender the Vessel for delivery after compliance with all procedural requirements as above provided. ARTICLE Ⅷ DELAYS&EXTENSIONOF TIME FOR DELIVERY 1. CAUSE OF DELAY If, at any time before actual delivery, either the construction of the Vessel or any performance required hereunder as prerequisite of delivery of the Vessel, is delayed due to war, blockade, revolution, insurrection, mobilization, civil commotions, riots, strikes, sabotage, lockouts, local temperature higher than 35 degree centigrade, Acts of God or the public enemy, plague or other epidemics, quarantines, prolonged failure or restriction of electric current from an outside source, freight embargoes, if any, earthquakes, tidal waves, typhoons, hurricanes, storms or other causes beyond the control of the Seller or of its sub-contractors, as the case may be, or by force majeure of any description, whether of the nature indicated by the forgoing or not, or by destructions of the Seller or works of the Seller or its sub-contractors, or of the Vessel or any part thereof, by fire, flood, or other cause beyond the control of the Seller or its sun-contractors as the case may be, or due to the bankruptcy of the equipment and/ or material supplier or suppliers then, in the event of delay due to the happening or any of the aforementioned contingencies, the Seller shall not be liable for such delay and the time for delivery of the Vessel under this Contract shall be extended without any reduction in the Contract Price for a period of time which shall not exceed the total accumulated time of all such delays, subject nevertheless to the Buyer’s right of cancellation under Paragraph 3 of this Article and subject however to all relevant provisions of this Contract which authorize and permit extension of the time of delivery of the Vessel. 2. NOTICE OF DELAY Within seven (7) days from the date of commencement of any delay on account of which the Seller claims that it is entitled under this Contract to an extension of the time for delivery of the Vessel, the Seller shall advise the Buyer by telex confirmed in writing, of the date such delay commenced, and the reasons thereof. Likewise within seven (7) days after such delay ends, the Seller shall advise the Buyer in writing or by telex confirmed in writing, of the date such delay ender, and also shall specify the maximum period of the time by which the date for delivery of the Vessel is extended by reason of such delay. Failure of the Buyer to acknowledge of Seller’s notification of any claim for extension of the Delivery Date within thirty (30) days after receipt by the Buyer of such notifications, shall be deemed to be a waiver by the Buyer of its right to object of such extension. 3. RIGHT TO CANCEL FOR EXCESSIVE DELAY If the total accumulated time of all permissible delays and non-permissible delays aggregate to days or more, excluding delays due to arbitration as provided for in Article Ⅷhereof or due to default in performance by the Buyer, or due to delays in delivery of the Buyer’s supplied items, and excluding delays duet to causes which, under Article V, Ⅵ, Ⅺ, and Ⅻ hereof, permit extension or postponement of the time for delivery of the Vessel, then in such event, the Buyer may in accordance with the provisions set out herein cancel this Contract by serving upon the Seller telexed notice of cancellation which shall be confirmed in writing and provisions of Article Ⅹ of this Contract shall apply. The Seller may, at any time, after the accumulated time of the aforementioned delays justifying cancellation by the Buyer as above provided for, demand in writing that the Buyer shall make an election, in which case the Buyer shall, within thirty (30) days after such demand is received by the Buyer either notify the Seller of its intension to cancel, or consent to an extension of the time for delivery to an agreed future date, it being understood and agreed by the parties hereto that if any further delay occurs on account of causes justifying cancellation as specified in this Contract, the Buyer shall have the same right of cancellation upon the same terms as hereinabove provided. 4. DEFINITION OF PERMISSIBLE DELAY Delays on account of such causes as provided for in Paragraph 1 of this Article, but excluding any other extensions of a nature which under the terms of this Contract permit postponement of the Delivery Date, shall be understood to be (and are herein referred to as) permissible delays, and are to be distinguished from non- permissible delays on account of which the Contract Price of the Vessel is subject to adjustment as provided for Article Ⅲ hereof. ARTICLE Ⅸ WARRANTY OF QUALITY 1. GUARANTEE OF MATERIAL AND WORKMANSHIP The Seller for a period of twelve (12) months following delivery to the Buyer of the Vessel, guarantees the Vessel, her hull and machinery and all parts and equipment hereof that are manufactured or furnished or supplied by the Seller and/ or its sub-contractors under this Contract including material, equipment (however excluding any parts for the Vessel which have been supplied by or on behalf of the Buyer) against all defects which are due to defective materials, and/ or poor workmanship. 2. NOTICE OF DEFECTS The Buyer shall notify the Seller in writing, or by telex confirmed in writing, as promptly as possible, after discovery of any defect or deviations for which a claim is made under this guarantee. The Buyer’s written notice shall describe the nature of the defect and the extent of the damage caused thereby. The Seller shall have no obligation under this guarantee for any defects discovered prior to the expiry date of the guarantee, unless notice of such defects, is received by the Seller not later than thirty (30) days after such expiry date. Telexed advice with brief details explaining the nature of such defect and extent of damage within thirty (30) days after such expiry date and that a claim is forthcoming will be sufficient compliance with requirements as to time. 3. REMEDEY OF DEFECTS The Seller shall remedy at its expense any defects, against which the Vessel or any part of the equipment thereof is guaranteed under this Article by making all necessary repairs and/ or replacement. Such repairs and/ or replacement will be made by the Seller. However, if it is impractical to make the repair by the Seller, and if forwarding by the Seller of replacement parts, and materials can not be accomplished without impairing or delaying the operation or working of the Vessel, then, in any such event, the Buyer shall, cause the necessary repairs or replacements to be made elsewhere at the discretion of the Buyer provided that the Buyer shall first and in all events, will, as soon as possible, give the Seller notice in writing, or by telex confirmed in writing of the time and place such repairs will be made and, if the Vessel is not thereby delayed, or her operation or working is not thereby delayed, or her operation or working is not thereby impaired, the Seller shall have the right to verify by its own representative(s) or that of Classification Society the nature and extent of the defects complained of. The Seller shall, in such cases, promptly advise the Buyer, by telex, after such examination has been completed, of its acceptance or rejection of the defects as ones that are subject to the guarantee herein provided. In all minor cases, the Guarantee Engineer, as hereinafter provided for, will act for and on behalf of the Seller. In any circumstances as set out below, the Seller shall immediately pay to the Buyer in United States Dollars by telegraphic transfer the actual cost for such repairs or replacements including forwarding charges, or at the average cost for making similar repairs or replacements including forwarding charges as quoted by a leading shipyard each in Japan, South Korea and Singapore, whichever is lower:
(a) Upon the Seller’s acceptance of the defects as justifying remedy under this Article, or (b) If the Seller neither accepts nor rejects the defects as above provided, nor request arbitration within thirty (30) days after its receipt of the Buyer’s notice of defects. Any dispute shall be referred to arbitration in accordance with the provisions of Article ⅩⅢ hereof. 4. EXTENT OF THE SELLER’S LIABILITY The Seller shall have no obligation and/ or liabilities with respect to defects discovered after the expiration of the period of guarantee specified above. The Seller shall be liable to the Buyer for defects and damages caused by any of the defects specified in Paragraph 1 of this Article provided that such liability of the Seller shall be limited to damage occasioned within the guarantee period specified in Paragraph 1 above. The Seller shall not be obliged to repair, or to be liable for, damages to the Vessel, or to any part of the equipment thereof, due to ordinary wear and tear or caused by the defects other than those specified in Paragraph 1 above, nor shall there be any Seller’s liability hereunder for defects in the Vessel, or any part of the equipment thereof, caused by fire or accidents at sea or elsewhere, or mismanagement, accidents, negligence, or willful neglect, on the part of the Buyer, its employees or agents including the Vessel’s officers, crew and passengers, or any persons on or doing work on the Vessel other than the Seller, its employees, agents or sub-contractors. Likewise, the Seller shall not be liable for defects in the Vessel, or the equipment or any part thereof, due to repairs or replacement which made by those other than the Seller and/ or their sub-contractors. Upon delivery of the Vessel to the Buyer, in accordance with the terms of the Contract, the Seller shall thereby and thereupon be released of all responsibility and liability whatsoever and howsoever arising under or by virtue of this Contract (save in respect of those obligations to the Buyer expressly provided for in this Article Ⅸ) including without limitation, any responsibility or liability for defective workmanship, materials or equipment, design or in respect of any other defects whatsoever and any loss or damages resulting from any act, omission or default of the Seller. Neither CSTC nor the Seller shall, in any circumstances, be liable for any consequential loss or special loss, or expense arising from any cause whatsoever including, without limitation, loss of time, loss of profit or earnings or demurrage directly from any commitments of the Buyer in connection with Vessel. The Guarantee provided in this Article and the obligations and the liabilities if the Seller hereunder are exclusive and in lieu of and the Buyer herby waives all other remedies, warranties, guarantees or liabilities, express or implied, arising by Law or otherwise (including without limitation any obligations of the Seller with respect to fitness, merchantability and consequential damages) or whether or not occasioned by the Seller’s negligence. This guarantee shall be extended, altered or varied except by a written instrument signed by the duly authorized representatives of the Seller, and the Buyer. 5. GUARANTEE ENGINEER The Seller shall appoint one or two Guarantee Engineer(s) to serve the Vessel as the Seller’s representative(s) for a period of twelve (12) months from the delivery of the Vessel. The Buyer, and its employees, shall give such guarantee Engineer(s) full co-operation in carrying out his/ their duties as the representative(s) of the Seller on board the Vessel. The Buyer shall accord the Guarantee Engineer(s) the treatment comparable to the Vessel’s Chief Engineer, and shall provide him with accommodation and subsistence at no cost to the Seller and/ or the Guarantee Engineer(s). The Buyer shall pay to the Guarantee Engineer(s) the sum of United States Dollars only (US$ ) per month to cover his/ their miscellaneous expenses including wages and also the Buyer shall pay the expense of repatriation to Beijing, the People’s Republic of China by air upon termination of his/ their service, the expense of his/ their communications with the Seller when made in performance of his/ their duties as the Guarantee Engineer(s) and the expense, if any, of his/ their medical and hospital care. The Buyer, its successor(s) and/ or assign(s), shall be liable to and indemnify the Seller and/ or the Guarantee Engineer(s) and/ or the Seller for personal injuries, including death and damages to, or loss or destruction of property of the Guarantee Engineer(s), if such death, injuries, damages, loss and / or destruction were caused by gross negligence or willful misconduct of the Buyer, its successor(s) and/ or assign(s) or its employees and/ or agents. Pertaining to the detailed particulars of this Paragraph, and agreement will be made according to this effect between the parties hereto upon delivery of the Vessel. ARTICLE Ⅹ CANCELLATION, REJECTION AND RESCISSION BY THE BUYER 1. All payments made by the Buyer prior to the delivery of the Vessel shall be in the nature of advance to the Seller. In the event the Buyer shall exercise its right of cancellation and/ or rescission of this Contact under and pursuant to any of the provisions of this Contract specifically permitting the Buyer to do so, then the Buyer shall notify the Seller in writing or by telex confirmed in writing, and such cancellation and/ or rescission shall be effective as of the date the notice thereof is received by the Seller 2. Thereupon the Seller shall refund in United States Dollars immediately to the Buyer the full amount of all sums paid by the Buyer to the Seller on account of the Vessel, unless the Seller disputes the Buyer’s cancellation and/ or recession by instituting arbitration in accordance with Article ⅩⅢ. If the Buyer’s cancellation or recession of this Contract is disputed by the Seller by instituting arbitration as aforesaid, then no refund shall be made by the Seller, and the Buyer shall not be entitled to demand repayment from Bank of China under its guarantee, until the arbitration award between the Buyer and the Seller or, in case of appeal or appeal by the Seller on the arbitration award or any court orders, by the final court order, which shall be in favor of the Buyer, declaring the Buyer’s cancellation and/ or rescission justified, is made and delivered to the Seller by the arbitration tribunal or final competent London Court having jurisdiction on the dispute. In the event of the Seller is obliged to make refund, the Seller shall pay the Buyer interest in United States Dollars at the rate of percent ( %) if the cancellation or rescission or rescission of the Contract is exercised by the Buyer for the delay of aggregate ( ) days in accordance with the provision of Paragraph 3 of ArticleⅧ or/ by the events described in Article Ⅲ 1(c), 2(c),3(c) or 4(c) hereof, however in the event of total loss as described in Article X, IV of this Contract, then, no interest will be refunded on the amount required herein to be refunded to the Buyer, computed from the respective dates when such sum were received by Bank of China, New York Branch or any such other bank account as nominated by the Seller pursuant to Article II 4(b) or 4(d) from the Buyer to the date of remittance by telegraphic transfer of such refund to the Buyer by the Seller. 3. Upon such refund by the Seller to the Buyer, all obligations, duties and liabilities of each of the parties hereto the other under this Contract shall be forthwith completely discharged. ARTICLE Ⅺ BUYER’S DEFAULT 1. DEFINITION OF DEFAULT The Buyer shall be deemed in default of its obligation under the Contract if any of the following events occurs: (a) The Buyer fails to pay the Second or Third or Fourth installment to the Seller when any such installment becomes due and payable under the provisions of Article Ⅱ hereof and provided the Buyer shall have received the Seller’s demand for payment in accordance with Article Ⅱhereof, or (b) The Buyer fails to pay the fifth installment to the Seller in accordance with Paragraph 3(e) and 4(e) of Article Ⅱ hereof provided the Buyer shall have received the Seller’s demand for payment in accordance with Article Ⅱ hereof; or
(c) The Buyer fails to take delivery of the Vessel, when the Vessel is duly tended for delivery by the Seller under the provisions of Article Ⅶ hereof. 2. NOTICE OF DEFAULT If the Buyer is in default of payment or in performance of its obligations as provided hereinabove, the Seller shall notify the Buyer to that effect by telex after the date of occurrence of the default as per Paragraph 1 of this Article and the Buyer shall forthwith acknowledge by telex to the Seller that such notification has been received. In case the Buyer does not give the aforesaid telex acknowledgement to the Seller within three (3) calendar days it shall be deemed that such notification has been duly received by the Buyer. 3. INTEREST AND CHARGE (a) If the Buyer is in default of payment as to any installment as provided in Paragraph 1(a) and/ or 1(b) of this Article, the Buyer shall pay interest on such installment at the rate of percent ( %) per annum for a period of 15 days from the due date thereof and thereafter at the rate of percent ( %) per annum until the date of the payment of the full amount, including all aforesaid interest. In case the Buyer shall fail to take delivery of the Vessel when required to as provided in Paragraph 1(c) of this Article, the Buyer shall be deemed in default of payment of the fifth installment and shall pay interest thereon at the same rate as aforesaid from and including the day on which the Vessel is tendered for delivery by the Seller, as provided in Article Ⅶ Paragraph 7 hereof. (b) In any event of default by the Buyer under 1(a) or 1(b) or 1(c) above, the Buyer shall also pay all costs, charges and expenses incurred by the Seller in consequence of such default. 4. DEFAULT DEFORE DELIVERY OF THE VESSEL (a) If any default by the Buyer occurs as defined in Paragraph 1(a) or 1(b) or 1(c) of this Article, the Delivery Date shall at the Seller’s option, be postponed for a period of continuance of such default by the Buyer. (b) If any such default as defined in Paragraph 1(a) or 1(b) or 1(c) of this Article committed by the Buyer continues for a period of fifteen (15) days, then, the Seller shall have all following rights and remedies; (i) The Seller may, at its option, cancel or rescind this Contract, provided the Seller has notified the Buyer of such default pursuant to Paragraph 2 of this Article, by giving notice of such effect to the Buyer by telex confirmed in writing. Upon receipt by the Buyer of such telex notice of cancellation or rescission, all of the Buyer’s Supplies shall forthwith become the sole property of the Seller, and the Vessel and all its equipment and machinery shall be at the sole disposal of the Seller for sale or otherwise; and (ii) In the event of such cancellation or rescission of this Contract, the Seller shall be entitled to retain any installment or installments of the Contract Price paid by the Buyer to the Seller on account of this Contract; and (iii) (Applicable to any Buyer’s default defined in 1(a) of this Article) The Seller shall, without prejudice to the Seller’s right to recover from the Buyer the 5th installment, interest, costs and/ or expenses by applying the proceeds to be obtained by sale of the Vessel in accordance with the provisions set out in this Contract, have the right to declare all unpaid 2nd, 3rd and 4th installments to be forthwith due and payable, and upon such declaration, the Seller shall have the right to immediately demand the payment of the aggregate amount of, all unpaid 2nd, 3rd and 4th installments from the Guarantor in accordance with the terms and conditions of the guarantee issued by the guarantor. 5. SALE OF THE VESSEL (a) In the event of cancellation or rescission of this Contract ac above provided, the Seller shall have full right and power either to complete or not to complete the Vessel at it deems fit, and to sell the Vessel at a public or private sale on such terms and conditions as the Seller thinks fit without being answerable for any loss or damage occasioned to the Buyer thereby. In the case of sale Vessel, the Seller shall give telex or written notice to the Buyer. (b) In the event of the sale of the Vessel in its completed state, the proceeds of sale received by the Seller shall be applied firstly to payment of all expenses attending such sale and otherwise incurred by the Seller as a result of the Buyer’s default, and then to payment o fall unpaid installments and/ or unpaid balance of the Contract Price and interest on such installment at the interest rate as specified if the relevant provisions set out above from the respective due dates thereof to the date of application. (c) In the event of the sale of the Vessel in its incomplete state, the proceeds of sale received by the Seller shall be applied firstly to all expenses attending such sale and otherwise incurred by the Seller as a result of the Buyer’s default, and then to payment of all costs of construction of the Vessel (such costs of construction, as herein mentioned, shall include but are not limited to all costs of labor and/ or prices paid or to be paid by CSTC and/ or the Seller for the equipment and/ or technical design and/ or materials purchased or to be purchased, installed and/ or to be installed on the Vessel) and/ or any fees, charges, expenses and/ or royalties incurred and/ or to be incurred for the Vessel less the installments so retained by the Seller, and compensation to the Seller for a reasonable sum of loss of profit due to the cancellation or rescission of this Contract. (d) In either of the above events of sale, if the proceed of sale exceeds the total of the amounts to which such proceeds are be applied as aforesaid, the Seller shall promptly pay the excesses to the Buyer without interest, provided, however that the amount of each payment to the Buyer shall in no event exceed the total amount of installments already paid by the Buyer and the cost of the Buyer’s supplies, if any. (e) If the proceed of sale are insufficient to pay such total amounts payable as aforesaid, the Buyer shall promptly pay the deficiency to the Seller upon request. ARTICLE XII INSURANCE 1. EXTENT OF INSURANCE COVERAGE From the time of keel-laying of the first section of the Vessel until the same is completed, delivered to and accepted by the Buyer, the Seller shall, at its own cost and expense, keep the Vessel and all machinery, materials, equipment, appurtenances and outfit, delivered to the Buyer for the Vessel or built into, or installed in or upon the Vessel, including, the Buyer’s Supplies, fully insured with first class Chinese insurance companies for Seller’s risk. The amount of such insurance coverage shall, up to the date of delivery of the Vessel, be in an amount at lease equal to, but not limited to, the aggregate of the payments made by the Buyer to the Seller including the value of the Buyer’s Supplies. The policy referred to hereinabove shall be taken out in the name of the Seller and all losses under such policy shall be payable to the Seller. 2. APPLICATION OF RECOVERED AMOUNT (a) Partial Loss: In the event the Vessel shall be damaged by any insured cause whatsoever prior to acceptance and delivery thereof by the Buyer and in the further event that such damage shall not constitute and actual or a constructive total loss of the Vessel, the Seller shall apply the amount recovered under the insurance policy referred to in Paragraph 1 of this Article to the repair of such damage satisfactory to the Classification Society and other institutions or authorities as described in the Specifications without additional expenses to the Buyer, and the Buyer shall accept the Vessel under this Contract if completed in accordance with this Contract and Specifications. (b) Total Loss: However, in the event that the Vessel is determined to be an actual or constructive total loss, the Seller shall either: (i) By the mutual agreement between the parties hereto, proceed in accordance with terms of this Contract, in which case the amount recovered under said insurance policy shall be applied to the reconstruction and/ or repair of the Vessel’s damages and/ or reinstallation of Buyer’s Supplies without additional expenses to the Buyer, provided the parties hereto shall have first agreed in writing as to such reasonable extension of the Delivery Date and adjustment of other terms of this Contract including the Contract Price as may be necessary for the completion of such reconstruction; or (ii) If due to whatever reasons the parties fail to agree on the above, then refund immediately to the Buyer the amount of all installments paid to the Seller under this Contract without interest together with recovered amount for Buyer’s supplies onboard, whereupon this Contract shall be deemed to be canceled and all rights, duties, liabilities and obligations of each of the parties to the other shall terminate forthwith. Within thirty (30) days after receiving telex notice of any damage to the Vessel constituting an actual or a constructive total loss, the Buyer shall notify the Seller in writing or by telex of its agreement or disagreement under this sub-paragraph. In the event the Buyer fails to so notify the Seller, then such failure shall be construed as disagreement on the part of the Buyer. This Contract shall be deemed as rescinded and cancelled and the Buyer receives the refund as hereinabove provided and the provisions hereof shall apply. 3. TERMINATION OF THE SELLER’S OBLIGATION TO INSURE The Seller’s obligation to insure the Vessel hereunder shall cease and terminate forthwith upon delivery thereof to and acceptance by the Buyer. ARTICLE ⅩⅢ DISPUTES AND ARBITRATION 1. ARBITRATION CLAUSE Any dispute arising from or in connection with this contract shall be submitted to China Maritime Arbitration Commission (CMAC) for arbitration which shall be conduced in accordance with the Commission ’s arbitration rules in effect at the time of applying for arbitration. The arbitral award is final and binding upon both parties. 2. ALTERATION OF DELIVERY TIME In the event of reference to arbitration of any dispute arising out of matters occurring prior to delivery of the Vessel, the Seller shall not be entitled to extend the Delivery Date as defined in Article Ⅶ hereof and the Buyer shall not be entitled to postpone its acceptance of the Vessel on the Delivery Date or on such newly planned time of delivery of the Vessel as declared by the Seller. However, if the construction of the Vessel is affected by any arbitration proceeding, the Seller shall then be permitted to extend the Delivery Date as defined in Article Ⅶ and the decision or the award shall include a finding as to what extent the Seller shall be permitted to extend the Delivery Date. ARTICLE ⅩⅣ RIGHT OF ASSIGNMENT Neither of the parties hereto shall assign this Contract to any other individual, firm, company or corporation unless prior consent of the other party is given in writing. ARTICLE ⅩⅤ TAXES AND DUTIES 1. TAXES All costs for taxes including stamp duties, if any, incurred in connection with this Contract in the People’s Republic of China shall be born by the Seller. Any taxes and/ or duties imposed upon those items or services procured by the Seller in the People’s Republic of China or elsewhere for the construction of the Vessel shall be born by the Seller. 2. DUTIES The Seller shall indemnify the Buyer for, and hold it harmless against, any duties imposed in the People’s Republic of China upon materials and equipment which under the terms of this Contract and/ or the Specifications will, or may be, supplied by the Buyer from the abroad for installation in the Vessel as well as any duties imposed in the People’s Republic of China upon running stores, provisions and supplies furnished by the Buyer from abroad to be stocked on board the Vessel and also from the payment of export duties, if any, to be imposed upon the Vessel as a whole or upon any of its parts or equipment. Any tax or duty other than those described hereinabove, if any, shall be borne by the Buyer. ARTICLE Ⅹ Ⅵ PATENTS, TRADEMARKSAND COPYRIGHTS The machinery and equipment of the Vessel may bear the patent number, trademarks or trade names of the manufacturers. The Seller shall defend and save harmless the Buyer from patent liability of Claims of patent infringement of any nature or kind, including costs and expenses for, or on account of any patented or paten table invention made or used in the performance of this Contract and also including cost and expense of litigation, if any. Nothing contained herein shall be construed an transferring any patent or trademark rights or copyright in equipment covered by this Contract, and all such rights are herby expressly reserved to the true and lawful owners thereof. Notwithstanding any provisions contained herein to the contrary, the Seller’s obligation under this Article should not be terminated by the passage of any specified period of time. The Seller’s indemnity hereunder does not extend to equipment or parts supplied by the Buyer to the Seller if any. ARTICLE ⅩⅦ NOTICE Any and all notices and communications in connection with this Contract shall be addressed as follows: To the Buyer: Address: Telex No.: Telefax No.: To the Seller: (Shipyard) Address: Telex No.: Telefax No.: Any change of address shall be communicated in writing by registered mail by the party madding such change to the other party and in the event of failure to give such notice of change, communications addressed to the party at their last known address shall be deemed sufficient. Any and all notices, requests, instructions, advices and communications in connection with this Contract shall be deemed to be given at and shall become effective from, the time when the same is delivered to the address of the party to be served provided, however, that registered airmail shall be deemed to be delivered ten (10) days after the date of dispatch, express courier service shall be deemed to be delivered five (5) days after the date of dispatch, and telex acknowledge by the answerbacks shall be deemed to be delivered upon dispatch. Any and all notices, communications, Specifications and drawings in connection with this Contract shall be written in the English language and each party hereto shall have no obligation to translate them into any other language. ARTICLE ⅩⅧ EFFETIVE DATE OF CONTRACT This Contract shall become effective upon fulfillment of all the following conditions: (1) Due execution of this Contract and the Specifications; and (2) Receipt by the Seller of the first installments in accordance with Paragraph 3(a) and 4(a) of Article II of this Contract; and (3) Receipt by the Seller of a Letter of Guarantee in the form annexed hereto as Exhibit B issued by a first class international bank acceptable to Bank of China and the Seller in accordance with Article II Paragraph 6 hereof. (4) Receipt by the Buyer of a Refund Guarantee in the form annexed hereto as Exhibit A issued by Bank of China, Head Office Banking Department in accordance with Article II Paragraph 7 hereof. ARTICLE ⅩⅨ INTERPRETATION 1. LAW APPLICABLE The parties hereto agree that the validity and interpretation of this Contract and of each Article and part hereof be governed by and interpreted in accordance with the Laws of . 2. DISCREPANCIES All general language or requirements embodied in the Specifications are intended to amplify, explain and implement the requirements of this Contract. However, in the event that any language or requirement so embodied in the Specifications permit an interpretation inconsistent with any provision of this Contract, then in each and every such event the applicable provisions of this Contract shall govern. The Specifications and plans are also intended to explain each other, and anything shown on the plans and not stipulated in the Specifications or stipulated in the Specifications and not shown on the plans, shall be deemed and considered as if embodied in both. In the event of conflict between the Specifications and plans, the Specifications shall govern. However, with regard to such inconsistency or contradiction between this contract and the Specifications as may later occur by any change or changes in the Specifications agreed upon by and among the parties hereto after execution of this Contract, then such change or changes shall govern. 3. DEFINITION In absence of stipulation of "banking day(s)" or "business day(s)", the "day" shall be taken as "calendar days". In WITNESS WHEREOF, the parties hereto have caused this Contract to de duly executed on the day and year first above written. The Buyer: Name: Title: Witness: The Seller: Shipyard Name: Title: Exhibit "A": IRREVOCABLE LETTER OFGUARANTEE NO. To: Dear Sirs, Date: Irrevocable Letter of Guarantee No. At the request of (hereinafter called "the Seller") and in consideration of your agreeing to pay the Seller the installments before delivery of the Vessel under the Contract concluded by and amongst you, and the Seller dated , 20 for the construction of one (1) Metric Tons Deadweight to be designated as Hull No. (hereinafter called "the Contract"), we, the undersigned, do hereby guarantee repayment to you by the Seller of an amount up to but not exceeding a total amount of United States Dollars only (US$ ) representing the first installment of the Contract Price of the Vessel, United States Dollars Only (US$ ), the third installment of the Contract Price of the Vessel, United States Dollars only (US$ ) and fourth installment of the Contract Price of the Vessel, United States Dollars only (US$ ), as you may have paid to the Seller under the Contract prior to the delivery of the Vessel, if and when the same or any part thereof becomes repayable to you from the Seller in accordance with the terms (Article X or Article XII 2(b) of the Contract. Should the Seller fail to make such repayment, we shall pay you the amount the Seller ought to pay with no if cancellation of the Contract is exercised by you for the delay caused by permissible delays,) or together with an interest at the rate of percent ( ) per annum the cancellation of the Contract is exercised by you for the delay of aggregate ( ) days in accordance with the provisions of Paragraph 3 of Article Ⅷ or by the event described in Article Ⅲ 1(c), 2(c), 3(c)or 4(c) of the Contract, otherwise at the rate of percent ( ) per annum within thirty (30) business days after out receipt of the relevant written demand from you for repayment. However, in the event of and dispute between you and the Seller in relation to: (1) Whether the Seller shall be liable to repay the installment or installments paid by you and (2) Consequently whether you shall have the right to demand payment from us, and such disputes is submitted either by the Seller or by you for arbitration in accordance with Article ⅩⅢ of the Contract, or for appeal or appeals in accordance the English Laws shall be entitled to withhold and deter payment until the arbitration award is published. We shall not be obligated to make any payment to you unless the arbitration award orders the Seller to make repayment and any right of appeal available to the Seller under English Laws is waived or is not exercised by the Seller in accordance with English Laws. If the Seller fails to honor the award or judgment, then we shall refund to you to the extent the arbitration award (or any court judgment) orders but not exceeding the aggregate amount of this guarantee plus the interest described above. The said repayment shall be made by us in United States Dollars. This Letter of Guarantee shall become effective from the time of the actual receipt of the first installment by the Seller from you and the amounts effective under this Letter of Guarantee shall correspond to the total payment actually made by you from time to time under the Contract prior to the delivery of the Vessel. However, the available amount under this Letter of Guarantee shall in no event exceed above mentioned amount actually paid to the Seller, together with interest calculated, as described above at percent ( ) or, percent ( ) per annum, as the case may be for the period commencing with the date of receipt by the Seller of the respective installment to the date of repayment thereof. This Letter of Guarantee shall remain in force until the Vessel has been delivered to and accepted by you or refund has been made by the Seller or ourselves, or until (being thirty (30) days after the Delivery Date as defined in Article VII of the Contract), whichever occurs earlier, after which you are to return it to us by airmail for cancellation. However, in the event that: (I) Construction of the Vessel is continuing but has not been completed, this guarantee shall be extended to expire on (being ( ) days after the Delivery Date as defined in Article VII of the Contract) or, if it occurs earlier, on delivery of the Vessel to you as provided in the Contract; or (II) There exists arbitration or appeal between you and Seller for such matter as described in the above, then the validity of this guarantee shall be automatically extended until the date falling on the thirtieth (30th) calendar day after the arbitration award of court order is published. This Letter of Guarantee is governed by the Laws of China. For Bank of China Exhibit "B" IRREVOCALBE LETTER OF GUARANTEE FOR THE 2ND, 3RD, AND 4TH INSTALLMENTS Bank To: Shipyard Date: Dear Sirs, (1) In consideration of your entering into a Ship Sale Contract dated ("the Shipbuilding Contract") with as the buyer ("the Buyer") for the construction of one (1) Metric Tons Deadweight Known as Shipyard’s Hull No. ("the Vessel"), we, hereby IRREVOCABLY, ABSOLUTELY and UNCONDITIONALLY guarantee, as the primary obligor and not merely as the surety, the due and punctual payment by the Buyer of each and all of the 2nd, 3rd and 4th installments of the Contract Price amounting to a total sum of United States Dollars as specified in (2) below. (2) The installments guaranteed hereunder, pursuant to the terms of the Shipbuilding Contract, comprise the 2nd installment in the amount of US Dollars payable by the Buyer within three (3) New York banking days after cutting the first steel plate in your Seller’s workshop, the third installment in the amount of US Dollars payable by the Buyer within three (3) banking days after keel-laying of the first section of the Vessel, and the 4th installment in the amount US Dollars days after launching of the Vessel. (3) We also IRREVOCABLY, ABSOLUTELY and UNCONDITIONALLY guarantee, as primary obligor and not merely as surely, the due and punctual payment by the Buyer of interest on each installment guaranteed hereunder at the rate of percent ( ) per annum from and including the first day after the date of installment in default until the date of full payment by us of such amount guaranteed hereunder. (4) In the event that the Buyer fails to punctually pay any installment guaranteed hereunder or the Buyer fails to pay any interest thereon, and any such default continues for a period of fifteen (15) days, then, upon receipt by us of your first written demand, we shall immediately pay to you or your assignee all unpaid 2nd, 3rd and 4th installments, together with the interest as specified in Paragraph (3) hereof, without requesting you to take any or further action, procedure or step against the Buyer or with respect to any other security which you may hold. (5) We hereby agree that at your option this Guarantee and the undertaking hereunder shall be assignable to and of so assigned shall insure to the benefit or any 3rd party designated by you or bank as your assignee as if any such third party or bank were originally named herein. (6) Any payment by us under this Guarantee shall be made in the United States Dollars by telegraphic transfer to bank, as receiving bank nominated by you for credit to the account of you with bank or through other receiving bank to be nominated by you from time to time, in favor of you or your assignee. (7) Our obligations under this guarantee shall not be affected or prejudiced by any dispute between you as the Seller and the Buyer under the Shipbuilding Contract or by the Seller’s delay in the construction and/ or delivery of the Vessel due to whatever causes or by any variation or extension of their terms thereof or by any security or other indemnity now or hereafter held by you in respect thereof, or by any time or indulgence granted by you or any other person in connection therewith, or by any invalidity or then forcibility of the thereof, or by any act, omission, fact or circumstances whatsoever, which could or might, but for the foregoing, diminish in any way our obligations under this Guarantee. (8) Any claim or demand shall be in writing signed by one of you officers and may be served on us either by hand or by post and if sent by post to (or such other address as we may notify to you in writing), or by tested telex (telex No: ) via Bank of China, with confirmation in writing. (9) This Letter of Guarantee shall come into full force and effect upon delivery to you of this Guarantee and shall continue in force and effect until the Vessel in delivered to and accepted by the Buyer and the Buyer shall have performed all its obligations for taking delivery thereof or until the full payment of all 2nd, 3rd and 4th installments together with the aforesaid interest by the Buyer or us, whichever first occurs. (10) The maximum amount, however, that we are obliged to pay to you under this Guarantee shall not exceed the aggregate amount of US Dollars being an amount equal to the sum of: (a) All the 2nd, 3rd and 4th installments guaranteed hereunder in the total amount of United States Dollars (US$ ); and (b) Interest at the rate of percent ( ) per annum of the installment for a period of sixty (60) days in the amount of United States Dollars (US$ ). (11) All payments by us under this Guarantee shall be made without any set-off or counter-claim and without deduction or withholding for or on account of taxes, duties, or charges whatsoever unless we are compelled by law to deduct or withhold the same. In the latter event we shall make the minimum deduction or withholding permitted and will pay such additional amounts as may be necessary in order that the net amount received by you after such deductions or withholdings shall equal the amount which would have been received had no such deduction or with holding been required to be made. (12) This Letter of Guarantee shall be governed by the Laws of England. We hereby submit to the non-exclusive jurisdiction of the English courts for the purposes of any legal action or proceedings in connection herewith in England. (13) This Letter of Guarantee shall have expired as aforesaid, you will return the same to us without any request of demand from us. (14) IN WITNESS WHEREOF, we have caused this Letter of Guarantee to be executed and delivered by our duly authorized representative the day and year above written. Very Truly your By:
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