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Contract

Any contract should include the following clauses:

1. Subject of the contract – тема, підмет контракту

2. Price and total value of contract – ціна та загальна вартість контракту

  1. Time of delivery – термін поставки

  2. Terms of payment – умови платежу

  3. Technical documentation – технічна документація

  4. Guarantee of the quality – гарантія якості

  5. Insurance – страхування

  6. Terms of transportation – умови транспортування

  7. Claims (sanctions) – претензії, санкції

  8. Force Majeure – форс-мажор

  9. Arbitration – арбітраж

  10. Other terms – інші умови

  11. Juridical addresses of the parties – юридичні адреси сторон

DRAFT CONTRACT

between

WIDGETRY Ltd (hereafter known as ‘the seller’)

and MERCURY plc (hereafter known as ‘the buyer’)

The seller undertakes to supply the buyer with 120,000 super widgets, to BSI specification 999 and to pay all freight/loading and insurance charges.

The terms of payment and immediate payment of delivery charges by confirmed and irrevocable letter of credit are to be standard.

A penalty clause will be included in the contract. It will be invoked against the seller for late delivery or substandard quality; against the buyer for late payment.

In the event of non-payment, the seller shall be entitled to reclaim the goods.

In case of a dispute between the parties to the contract, the matter will be taken to independent arbitration. All the terms of the contract must be complied with both parties.