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Contracts for the Purchase of Goods

In: Business and Management

Submitted By Shashmi
Words 316
Pages 2
Contract for the purchase of goods
This Contract for the purchase of goods is made on October 4th, 2011.

Between: ABC Footwear (PVT.) Ltd, which specializes in manufacturing and selling sports goods having principal business place at H-11 AK Barohi Rd. (Buyer)

And: XYZ Rubber (PVT.) Ltd. having business place at G8 Industrial Area. (Seller)

1. Description of manufacture and sale
Seller agrees to sell to the buyer the following goods
* Rubber souls * White in color * 1000 pieces * According to International Tennis Federation Standard.

2. Payment: Buyer agrees to pay in consideration of the aforementioned goods a total sum of PKR =1000.000/- via a cross cheque on the delivery of the goods.

3. Delivery Schedule:
The goods are to be delivered in exactly 2 weeks after 4th October, 2011.

4. Loses and damages
In case, any breach of essential of a contract as mentioned above the party responsible for the act will pay the damages to the other party to that extent.
If loses happen to either of the party because of not preforming the contract, by the third party than this loss will be reimburse by the default party. 5. Arbitration
Any dispute, controversy or claim arising out of or relating to this Agreement or the breach or termination hereof shall be settled by binding arbitration conducted by JAMAL/Endispute. ("JAMS") in accordance with JAMS Comprehensive Arbitration Rules and Procedures (the "Rules"). The arbitration shall be heard by one arbitrator to be selected in accordance with the Rules, in Islamabad County, Pakistan. 6. Governing Law
This Agreement shall be governed by and construed under the laws of Pakistan, Contract Act 1872.

IN WITNESS WHEREOF, the parties hereto have each caused this Agreement to be duly executed as of the date first above written.


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