Contract: Seller: Vietnam Latca Joint Stock Company
Contract: Seller: Vietnam Latca Joint Stock Company
Contract: Seller: Vietnam Latca Joint Stock Company
ARTICLE 8: ARBITRATION
8.1: All disputes or differences arising out of or in connection with the present Contract,
including the one connected with the validity of the present Contract or any part thereof,
shall be settled by bilateral discussions.
8.2: Any dispute, disagreement of question arising out of or relating to this Contract or
relating to construction or performance (except as to any matter the decision or
determination whereof is provided for by these conditions), which cannot be settled
amicably, shall within sixty (60) days or such longer period as may be mutually agreed
upon, from the date on which either party informs the other in writing by a notice that
such dispute, disagreement or question exists, will be referred to the Arbitration Tribunal
consisting of three arbitrators.
8.3: Within sixty (60 days of the receipt of the said Notice, one arbitrator shall be
nominated in writing by SELLER and one arbitrator shall be nominated by BUYER.
8.4: The third arbitrator, who shall not be a citizen or domicile or of the country either of
the parties or of any other country unacceptable to any of the parties shall be nominated
of the parties within (90) days of the receipt of the notice mentioned above, failing which
the third arbitrator may be nominated by the President of International Chamber of
Commerce, Paris, at request of either party but the said nomination would be after
consultation with both the parties and shall preclude any citizen or domicile of any
country as mentioned. The arbitrator nominated under this Clause shall not be regarded
nor act as an umpire.
8.5: The Arbitration Tribunal shall have its seat at its own place mutually agreed to
between the parties.
8.6: The decision of the majority of the arbitrator shall be final and binding on the parties
to this contract.
8.7: Each party shall bear its own cost of preparing and presenting its case. The cost of
Arbitration including the fees and expenses of the third arbitrator shall be shared equally
by the Seller and the Buyer, unless otherwise awarded by the Arbitration Tribunal.
8.8: In the event of a vacancy caused in the office of the arbitrators, the party which
nominated such arbitrator shall be entitled to nominate another in his place and the
arbitration proceedings shall continue from the stage they were left by the retiring
arbitrator.
8.9: In the event of one of the parties failing to nominate its arbitrator within 60 days as
above or if any of the parties does not nominate another arbitrator within 60 days of the
place of arbitrator failing vacant, then the other party shall be entitled after due notice of
at least 30 days to request the President of International Chamber of Commerce, Paris to
nominate another arbitrator as above.
8.10: If the place of the third arbitrator falls vacant, his substitute shall be nominated
according to the provisions herein above stipulated.
8.11: The parties shall continue to perform their respective obligations under this contract
during the pendency of the arbitration proceedings except in so far as such obligations are
the subject matter of the said arbitration proceedings.
ARTICLE 9: INSURANCE
Insurance shall be borned by the Buyer.
BUYER:
FOB HAIPHONG,
QUANTITY AMOUNT
VIETNAM
No DESCRIPTION OF GOODS
IN WORDS: UNITED STATES DOLLARS ELEVEN THOUSAND, FIVE HUNDRED AND FORTY SEVEN
ONLY.
PAYMENT TERM: TT 100%
We certify that we have shipped the goods in accordance with the specification, quality, quantity, and price
of proforma invoice
We certify that merchandise to be of Vietnam Origin
NOT INTENDED FOR MEDICAL USE
THREE
2 TRHU2471457 YMLH516932
3 YMLU3123002 YMLH516933
4 FCIU4205122 YMLH516934
5 TCKU2131504 YMLH516935
6 YMLU3354064 YMLH516936