1.INSURANCE: △To be covered by the Buyer. △ To be covered by the Seller for 1110% invoice value against marine cargo clauses risk. 2.TERMS OF PAYMENT: The buyer are to open through a bank acceptable to the seller confirmed without recourse, irrevocable, transferable L/C in favor of the seller. The L/C must reach the seller before and is remain valid for negotiation until the 20th days after date of shipment . 3.QUALITY OF QUANTITY : For the quality and quantity of the goods shipped, the inspection certificates issued by entry-exit inspection and quarantine of the people ′s republic of china shall be taken as final. 4. ARBTRIATION: All disputes in connection with this contract or the execution there of shall be settled by negotiation In case no settlement can be reached, the case under dispute shall be submitted for arbitration of Arbitration of this commission. The decision given by this Commission hall be take as final and binding upon both parties, The arbitration fees shall be come by the losing party.
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