This contract is between a purchaser and supplier for the supply of a chipping and screening project. Key details include:
- The supplier will deliver and install the equipment within 270 days of receiving the initial down payment.
- The total contract price is fixed, but may be adjusted for delays over 1 year caused by the purchaser or changes in taxes.
- Payment will be made in two installments - 30% down payment, 70% against an irrevocable letter of credit opened before delivery.
- The supplier guarantees equipment performance for 12 months from installation or 18 months from delivery and will provide repairs under warranty.
- The contract governs issues like regulations, liability, intellectual property