Sie sind auf Seite 1von 13

SALE AND PURCHASE AGREEMENT

BETWEEN
M/s. __________________
AND
M/s. Fornnax Technology Pvt Ltd
THIS SALE AND PURCHASE AGREEMENT is agreed and signed on 11th Day of
December, 2013 between______________________ India (hereinafter "First Party")
and FORNNAX TECHNOLOGY PVT LTD, Company incorporated under the
Companies Act, 1956, bearing CIN No. __________________B-908, Titanium
Square, Thaltej Cross Road, Ahmedabad-380054, Gujarat, India. (Hereinafter "Second
Party).
RECITALS:
WHEREAS, Second Party is in the business of selling and servicing "WASTE TYRE
RECYCLING PLANT" equipment; and
WHEREAS, First Party agrees to purchase such equipment.
NOW, THEREFORE, Therefore, in consideration of the mutual promises, terms,
covenants, and conditions set forth herein and the performance of each, it is hereby
agreed as follows:
CHAPTER 1. GENERAL RULES
Article 1. Basic Principle
First Party and Second Party have executed this Contract in good faith in accordance with
mutual trust and spirit of cooperation.
Article 2. Range of Application
As far as there is no special contract in writing, this Contract shall apply to all Products
transaction contracts (hereinafter referred to as Individual Contract).
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

Jagruti Dekavadiya 28/12/15 15:03


Comment [1]: Is buyer a Company or an
Individual, its details will come here. ?

Article 3. Effective:
This Contract is effective from the date of signature by the both the parties, until termination
or fulfilling the purpose of this contract, whichever is earlier, in context and within the terms
and conditions mentioned in this contract.
Article 4. Individual Contract
1.
The Individual Contract shall be concluded when First Party places order to Second
Party based on an order sheet and Second Party accepts the order.
2.
First Party shall put down the Products name, quantity, unit price, money amount,
delivery time and place of delivery in the above-mentioned order sheet or any
documents, which belong to the order sheet.
Article 5. Amendment of Individual Contract
1.
Both the parties shall agree mutually to any amedmenet to this Contract if any, in
writing before the delivery of the order to carry our any amendment to this contract.
However, in no case the order will be termed as cancelled as otherwise specifically
provided in this Contract.
CHAPTER 2. TRANSACTION
Paragraph 1. Products Specification and Price
Article 6. Specification
1.
The specification of the Products delivered by Second Party to First Party shall conform
to First Partys designation mentioned hereafter.
a. First Party shall prepare drawings, specification sheets, standards and corresponding
documents and lend those documents (hereinafter referred to as Loaned
Drawings) to Second Party;
b. First Party may approve drawings and specification sheets (hereinafter referred to as
Approved Drawings) prepared by Second Party.
2.
In case of doubt and or unclear matters with regard to the above-mentioned Loaned
Drawings, Approved Drawings etc or First Partys designation, Second Party shall
immediately bring forward the matter to First Party, and Second Party shall receive
instructions from First Party.
3.
First Party may upon necessity revise the specification of the Products.
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

4.

In case Second Party revises the Approved Drawings, Second Party shall have First
Partys prior approval and shall keep the revision history.

Article 7. Price
1.
The price of the Products shall be fixed in the Individual Contract after consultation
between First Party and Second Party, and the concerned price, as far as not specifically
described in the Individual Contract, shall conclude the packing cost, freight charges,
insurance charges incurred by Second Party until the Products is delivered to prescribed
location.
2.
When Second Party is requested by First Party to offer a quotation sheet or quotation
detail sheet, Second Party shall immediately provide the concerned documents to First
Party.
3.
For the purpose of this Contract, the Price is fixed at Rs. __________, Excluding
Taxes.
Paragraph 2. Delivery
Article 8. Delivery
1.
Second Party shall deliver the Products, which have passed qualified inspections done by
Second Party, at the prescribed place of delivery, according to the prescribed delivery
time and delivery method.
2.
When carrying out the above-mentioned delivery, Second Party shall attach the
prescribed documents of the delivered Products as well as an Inspection Result Sheet.
3.
In every month, First Party shall calculate the demand of Products through Material
Requirement Planning (MRP) process and shall immediately issue and inform Purchase
Order as well as the Forecast Order to the Second Party which time shall be fixed upon
mutual consultation between the parties hereto.

Jagruti Dekavadiya 28/12/15 15:03


Comment [2]: Decide on this and get back to me
asap! The Specification of the item to be delivered
would be the part of this Clause.

Article 9. Change of Delivery Time


1.
When there is a risk of delay in the delivery according to Second Partys judgment,
Second Party shall immediately bring forward the reason of delay and the expected
revised delivery date to First Party and shall receive instructions form First party to that
effect.
2.
When the delay in delivery may cause loss to First Party, for which Second Party is
responsible, Second Party shall compensate the loss to First Party based on mutual
consultation.
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

3.

In case of advance in delivery, except First Partys request, Second Party shall have First
Partys prior approval.

Article 10. Delivered Quantity


Second Party shall not deliver a quantity of Products, which is different from the prescribed
quantity on order sheet, without First Partys prior approval. When the quantity is less than
the prescribed quantity, due to a reason which is acceptable by First Party, Second Party shall
deliver the remaining quantity at First Partys prescribed delivery time. When the shortage of
quantity is caused by an unacceptable reason and causes loss to First Party, Second Party shall
compensate the loss to First Party based on mutual consultation.
Article 11. Receipt of Products
1.
When the formal delivery meets the stipulations in Article 8, First Party shall
immediately receive the Products and surrender a document certifying such receipt to
Second Party.
2.
In case the delivered Products are not in conformity with the stipulations in Article 8,
Second Party shall immediately withdraw the Products according to First Partys notice.
First Party, however, may, upon Second Partys request, keep the Products. In such
case, First party shall not be responsible for any loss incurred, such as loss of Products,
damage of Products, reduced quantity, change in quality etc., the cause of which is not
attributable to First Party.
Paragraph 3. Inspection
Article 12. Receiving Inspection
1.
First Party shall without delay carry out Receiving Inspection to the received Products
according to the Inspection Method decided by First Party and shall accept the Products
which are judged as qualified by First Party.
2.
In case First Party, during the Receiving Inspection, discovers disqualified Products, First
Party shall notify Second Party the content of such disqualification.
Article 13. Treatment in Case Disqualification
Upon receipt of the notification mentioned in point 2 of Article 12, Second Party shall
immediately repair the Products or deliver substitute Products in the manner decided by First
Party.
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

Article 14. Exceptional Use


When any of the Products, which is disqualified through Receiving Inspection, is subject to
exceptional use, First Party may accept such Products after allowing price discount, which will
be fixed upon mutual consultation between the parties hereto.

Article 15. Transfer of Ownership


1.
The ownership of the delivered Products and the risk attached to the Products shall be
transferred from Second Party to First Party at the same time the acceptance of
inspection mentioned in Article 12 and 14 is completed. However, in case First party
includes Supply Parts to the Products, the ownership shall be stipulated in Article 23.
2.
In the event that the Receiving Inspection, as mentioned in Article 12 and 14, is done by
First Party at Second Partys premises, Second Party shall keep the Products with the
care of good manner until delivery is completed to the prescribed place according to
First Partys instructions.
Article 16. Withdrawal of Disqualified Goods
1.
Second Party shall withdraw the disqualified Products, except the Products for
exceptional use stipulated in Article 14, within 1 (one) week since the day notice
mentioned in point 2 of Article 12 is received. First Party, however, may dispose of the
disqualified Products containing Supply Parts supplied by First Party, as mentioned in
Article 21, according to the procedures fixed by First Party.
2.
First Party may, after confirming Second Party, dispose of the disqualified Products,
which are not withdrawn by Second Party for more than 1 (one) month after the notice
mentioned in point 2 of Articles 12
Paragraph 4. Payment
Article 17. Payment
First Party shall pay the price of the Products, which have been received by First Party, in the
manner and on the date to be mutually agreed by First Party and Second Party, as may be
described in the order sheet issued by First Party or billing documents issued by Second Party.
Payment Schedule and Method has to be entered here.
Article 18. Offsetting
1.
Concerning the payment mentioned in Article 17, when First Party has a money claim
that should be received from Second Party, such as the price of Supply Parts that is
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

2.

supplied with charge, machine rental fee etc., First Party may offset the payment with
such claim on the prescribed date.
When carrying out an offset mentioned in the point 1 of Article 18, First Party shall
notify Second Party by sending detailed statement or bill.
Paragraph 5. Quality Assurance

Article 19. Quality Assurance


1.
Second Party shall assure that all Products delivered to First Party shall have the quality,
which fulfills the Product Specification described in Article 5.
2.
Second Party shall bear the responsibility to repair, substitute, or compensate the loss
caused by non-conforming and or defective Products, discovered on or after the
Receiving Inspection done by First Party.
3.
All matters pertaining to Quality Assurance shall follow the Quality Assurance
Agreement, which is entered into and signed by the parties hereto, and hereby made an
inseparable part hereof.
4.
In the event of non-conformity and or conflict between the terms and or conditions of
the Contract and the Quality Assurance Agreement, First Party and Second Party shall
amend and or make necessary adjustment to the relevant term and or condition based
on mutual consultation.
Paragraph 6. Sub-Contracting
Article 20. Sub-Contracting
1.
Second Party may sub contract the production process of the Products, entirely or
partially, to a third party after obtaining First Partys prior approval.
2.
In case Second Party assigns a sub-contractor, Second Party shall let the concerned subcontractor thoroughly understand and observe the term and condition of the Contract.
Second Party shall not escape from all responsibilities to First Party with regard to the
act and behavior of the sub-contractor.

Jagruti Dekavadiya 28/12/15 15:03


Comment [3]: We have to deliberate on this.

Paragraph 7. Supply Parts

COPYRIGHT 2015 by Fornnax Technology Pvt Ltd


--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

Article 21. Supply Parts


First Party may, after consultation with Second Party, supply basic materials, parts, half-finished
goods, assemblies etc. (hereinafter referred to as Supply Parts) to be used in the production
process of the Products, with charge or free of charge, according to the procedure to be fixed
by First Party, in the cases which come under the items mentioned here below.
a. When the Supply Parts are necessary to maintain the quality, characteristic and
standard of the Products;
b. When so requested by Second Party to First Party;
c. When other appropriate reasons exist.
Article 22. Inspection of Supply Parts
1.
Upon receiving the Supply Parts, Second Party shall without delay inspect the Supply
Parts and when Second Party discovers defects or shortage of quantity, Second Party
shall immediately notify First Party and receive First Partys instructions. The same case
shall apply when hidden defects of the Supply Parts are discovered during the
production process.
2.
Second Party shall be responsible for damages or losses occurred to the Products and
or Supply Parts because of non-observance of point 1 of Article 22 and or the causes
attributable to Second Party.
Article 23. Ownership of the Supply Parts
1.
The ownership of the free of charge Supply Parts as well as the ownership of the
Products in process, half-finished Products and or the Products produced or processed
by Second Party using such Supply Parts, shall remain in First ..Partys hand.
2.
First Party shall keep the ownership of the Supply Parts received with charge by Second
Party from First Party as well as the ownership of the Products in process, half-finished
Products, and the Products produced or processed by Second Party using such Supply
Parts, until Second Party completes the payment of the prices of such Supply Parts.
Article 24. Management of the Supply Parts
1.
Second Party shall manage the Supply Parts with the care of good manager and shall use
the Supply Parts only for producing the Products.
2.
Second Party shall handle scraps and chips of the free of charge Supply Parts, according
to First Partys instructions.
3.
In case a situation may occur in which First Partys ownership may be violated, or risk of
the occurrence of such situation like seizure of the Supply Parts by a third party and
other treatment, Second Party shall prove that the Supply Parts belong to First Party
and shall also notify First Party to that effect and shall follow First Partys instructions.
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

4.

First Party may inspect the condition and management of the Supply Parts at Second
Partys work-site.

Article 25. Damage and Quality Deterioration of Supply Parts


In case of loss, damage, deterioration or change in quality of the Supply Parts, after the Supply
Parts are received by Second Party, the causes of which are not attributable to First Party,
Second Party shall compensate the incurred loss to First Party based on mutual consultation.
Paragraph 8. Jigs, Dies, Machines etc.
Article 26. Disposal of Jigs or Dies
In case Second Party wishes to dispose or transfer the jigs or dies, which are possessed and
used by Second Party in the production process of the Products, Second Party shall bring
forward the matter to First Party beforehand, and shall take care that it shall not hinder the
production process of the Products.
Article 27. Lending of Jigs or Dies
Whenever deemed necessary, First Party may lend jigs and or dies to Second Party, for the
use in the production process of the Products, which matter shall be concluded in a separate
agreement between the parties hereto.
Article 28. Lending of Machines
First Party may, as occasion demands or upon request of Second Party, lend machines and or
equipment to be used in the production process of the Products, which matter shall be
concluded in a separate agreement between the parties hereto.
CHAPTER 3. GENERAL MATTERS
Article 29. Mutual Cooperation
1.
Second Party shall, in order to improve the price, quality, function and method of
production process of the Products, positively develop new technology, propose
improvement and present information to First Party.
2.
If necessary, First Party may, upon Second Partys knowledge, enter Second Partys
work site and provide guidance and advice with regard to improvement of the
technology, quality control, delivery control of the Products, and Safety
Management/Control. When receiving a request from First Party to carry out every
kind of inspection, Second Party shall positively cooperate to fulfill the request.
3.
In regard to establish long term and stable business relationship, both parties shall not
only implement this Agreement in good faith but also realize that compliance is
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

Jagruti Dekavadiya 28/12/15 15:03


Comment [4]: These are standard clauses
available .do we even need them?

4.

important business factor. Both parties should establish compliance structure to prevent
all misconducts effect badly to both parties such as violation of law or social norms and
other illegal practice.
Second Party shall not only comply with related environment laws and or regulations
but shall make effort to reduce waste, save energy and resources, and recycles.

Article 30. Preservation of Secrecy


Either party hereto shall strictly keep the secrecy of the other party, with regard to the
business and or technology obtained through both parties knowledge based on the
transactions stipulated in this Contract, and shall never disclose those confidential matters to
any third party, during the period of this Contract as well as after this Contract is expired.
Any breach or omission on part of the First Party in contrary to the terms and conditions of
this Contract subject to breach of Secrecy or confidentiality affecting the rights of the Second
Party will lead to litigation and will be termed as a breach of Contract resulting into legal
consequences.
Article 31. Prohibition to Sell to Any Third Party
Second Party shall not sell the Products or any goods which are similar to the Products to any
third party, unless Second Party has obtained First Partys written approval.
Article 32. Industrial Proprietary Right
1.
When an invention has been made by Second Party, Second Party shall immediately
inform First Party to that effect. Application and possession of the Industrial Proprietary
Right based on the above intention shall be decided upon both parties consultation.
2.
In case dispute may arise concerning the Industrial Proprietary Right related to the
Products with a third party upon reasons which are not attributable to First Party,
Second Party shall handle and solve this matter upon Second Partys sole responsibility
and shall cause no harm or trouble to First Party.
Article 33. Prohibition of Transferring Right and Obligation
Except approved in writing by Second Party, First Party shall not transfer or pledge all claims
to and or accept liabilities from any third party, which originate from this Contract as well as
the Individual Contract.
This also prohibits the use of the product for Academic Purpose with a purpose defeating the
business of the Second Party. Hence, the equipement sold should be used for Commercial
Purpose only and not for the purpose of designing, modification or any method which in turn
results into the situation at present or in future affecting the business of the Second Party at
any point of time, even after the expiration of this Contract. Any breach or omission to this
effect will result into legal consequences attracting penalties, or find or both.
Article 34. Obligation to Notify
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

Jagruti Dekavadiya 28/12/15 15:03


Comment [5]: We will delete this once we
discuss.

When one of the under-mentioned cases occurs or when there is a risk of such occurrence,
Second Party shall immediately notify First Party to that effect.
a. The change of address of Second Partys office and or production facility, the change
of Second Partys authorized representative, the change of Second Partys trade
name, the change of Second Partys organization related to this Contract;
b. Alienation or taking over a joint operation, entrustment or acceptance of a business,
capital increase or capital decrease;
c. Other important matters related to this Contract.
Article 35. The Term of Validity
1.
The term of validity of this Contract shall be 2 (two) years since the date set forth. If at
least 3 (three) months prior to the expiration of the Contract, none of the parties
hereto proposes in writing for an amendment or cancellation, the term of validity of the
Contract shall continue for a successive 1 (one) year with the same terms and
conditions.
2.
Even when this Contract terminates, the provisions of the Contract still apply to the
Individual Contract, which have been concluded prior to the termination.
3.
Either party hereto may terminate the Contract before its expiration date, by sending
notification to the other party at least 3 (three) months prior to the termination, upon
the reasons acceptable for the parties hereto.
Article 36. Cancellation of Contract
1.
Both Parties may, without notice, cancel this Contract as well as the Individual
Contract, entirely or partially, in one of the cases which comes under the followings :
a. any Party violates the provision of this Contract and or its amendments or the
Individual Contract;
b. any Party, without justifiable reasons, does not perform or is anticipated not to
perform its obligation provided for in this Contract;
c. When a disaster occurs or due to other unavoidable reasons, it is difficult for Second
Party to perform its obligation provided for in this Contract;
d. When the competent authorities have decided that Second Party should cease or
suspend its business;
e. When Second Party stops payment or dishonors payment at a clearinghouse;
f. When there is a claim for bankruptcy, reconciliation, arrangement and corporate
reorganization process put to Second Party or when reasons to such proceedings
may arise;
g. When Second Party makes a decision as to liquidation or when there is an important
change with respect to the management system like joint venture etc.;
h. When there are appropriate reasons for First Party to judge that there is a risk that
one of the above-mentioned cases may occur.
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

2.

3.

When First Party terminates the Contract according to the provision in point 1 of
Article 36, First Party shall instruct Second Party as how to handle the Products,
Products in process, half-finished Products etc., and Second Party shall comply with
those instructions.
When the Contract is terminated according to the provision in point 1 of Article 36,
First Party may demand for compensation of loss, resulting from such termination of the
Contract, from Second Party.

Article 37. Accomplishment of Obligation Upon Termination of Contract


When the Contract is terminated or cancelled because of whatever reason, the debts of each
party shall automatically become due and shall immediately be paid to the other party. When
it is requested so by First Party, Second Party shall immediately accomplish the production and
deliver the Products, which have been ordered based on Individual Contract by First Party to
Second Party.
Article 38. Treatment when the Contract Expires
1.
Irrespective of the reason, when this Contract expires or is terminated, Second Party
shall immediately return the goods mentioned in the following aligns to First Party.
However, goods, which are necessary to perform the existing Individual Contract, shall
be immediately returned after these goods are no longer used.
a. The Loaned Drawings lent by First Party to Second Party;
b. The Supply Parts which First Party has supplied to Second Party free of charge, and
or the Supply Parts which is supplied with charge but not yet paid by Second Party to
First Party, and or the Supply Parts which have not been processed, and or the
remaining of such Supply Parts;
c. Properties of First Party borrowed or kept in custody by Second Party.
2.
Second Party shall keep the goods mentioned in point 1 of Article 38 with the care of
good manager, until those goods are returned to First Party.
3.
First Party shall instruct treatment of the goods, work in process, half completed goods,
and others which are kept by Second Party.
Article 39. Treatment of the Goods when not returned
In case Second Party does not return the goods mentioned in point 1 of Article 38, or in case,
according to First Partys judgment, Second Party is unable to return the goods or unable to
observe First Partys instructions mentioned in point 2 of Article 38, First Party may demand
Second Party to pay an appropriate amount of money as compensation for the loss.
Article 40. Calculation Standard of the Compensation for the Loss
The calculation standard of the loss amount of Supply Parts mentioned in Article 38 and 39
shall be as follow : For Supply Parts, which are supplied free of charge, the standard shall be
the cost of procuring the parts and materials and the processing cost incurred by First Party.
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

For Supply Parts, which are supplied with charge but not yet paid by Second Party to First
Party, the standard shall be the price of the Supply Parts at the time of supply.
Article 41. Treatment of Jig and Dies
1.
Irrespective of the reason, when this Contract expires, First Party may propose to take
over all or portion of the jig and or dies used in the production process of the Products,
possessed by Second Party or its sub-contractors. In such case Second Party shall
immediately deliver the jigs and or dies to First Party.
2.
The transfer price of the jigs and or dies mentioned in point 1 of Article 41 shall be
based on the price of the concerned jigs and or dies at the time of transfer, taking into
consideration the depreciation, and shall be fixed upon mutual consultation.
Article 42. Handling of the Old Contracts
1.
The Agreement/Contract concluded by the parties hereto prior to the date of this
Contract, and its amendments and addendums, if any, shall be superseded by this
Contract and shall become ineffective as of the date set forth.
2.
The Individual Contract, received by Second Party prior to the effective date of this
Contract, shall observe the terms and conditions of this Contract.
Article 43. Consultation
In case of matters that are not appropriately stipulated or have not been stipulated in this
Contract, or when doubt may arise with regard to this Contract, the parties hereto shall
settle it through mutual consultation.
Article 44. Formal Provisions for Application:
1. Compliance with Laws.
Company shall perform this Agreement in compliance with all applicable State,
and local laws, rules, regulations, and ordinances, and represents that it shall have
obtained all licenses and permits required by law to engage in the activities
necessary to perform its obligations under this Agreement. Seocnd Party hereby
represents and warrants that all Equipment to be provided to First Party
hereunder has received (certified engineer of Gujarat government)
clearance and/or approval, and that copies of the clearance/approval
documentation issued to Second Party by the (Certified engineer) will be
provided to First Party upon First partys request.
2. Arbitration:
If at any time any question, dispute or difference whatsoever shall arise between
the Buyer and the Company upon or in relation to or in connection with the
contract either of party may forthwith give to the other notice in writing of the
COPYRIGHT 2015 by Fornnax Technology Pvt Ltd
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com

existence of such question, dispute or difference and the same shall be referred
to the adjudication to the sole arbitration as mutual agreed and decided by both
the parties, as per the terms and conditions of the applicable laws, including the
Arbitration and Conciliation Act, 1995. The seat for Arbitration would be
Ahmedabad.
3. Applicable Laws and Jurisdiction:
This Agreement shall be governed by the laws of the State/Country (excepting
any conflict of laws or provisions which would serve to defeat application of
State/Country substantive law). Each of the parties to this Agreement hereby
irrevocably and unconditionally: (i) consents to submit to the exclusive
jurisdiction of the courts of Gujarat State for any proceeding arising in connection
with this Agreement and each such party agrees not to commence any such
proceeding except in such courts, and (ii) waives any objection to the laying of
venue of any such proceeding in the courts of Gujarat State.

As an evidence of the conclusion of this Contract, 2 (two) copies of the text are made with
adequate stamp duties, each party shall keep one copy of which after writing their signatures
on the texts.
First Party
1.

Second Party
__________________

COPYRIGHT 2015 by Fornnax Technology Pvt Ltd


--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B-908, Titanium Square, Thaltej Cross Road, Ahmedabad 380054, Phone: +91-79-65224455/77
E-mail: info@fornnax.com, Web: www.fornnax.com