1. Terms of Payment: By confirmed and transferable Letter of Credit established before DEC., 2008 in favour of the seller, available by the seller’s documentary draft at sight/at______days after sight, to be valid for negotiation in China until 15days after the date of shipment.
2. Insurance: To be effected by the seller with PICC for 110% of invoice value against ALL RISKS AND WAR RISK AND STRIKES subject to THE MARINE CARGO CLAUSES DATE JAN.1,1981 of CIC or ICC
3. Inspection: It is mutually agreed that the Certificate of Quality and Quantity or Weight issued by CIQ (Entry-exit Inspection and Quarantine Bureau of the People’s Republic of China) shall be regarded as final and binding upon both parties.
4. Other Terms: As specified overleaf, which shall form an integral part of this Contract.
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