SHRIMP SALES CONTRACT

No: 23/2019/FTU-GDTMQT

Ho Chi Minh, November 27th, 2019

This contract is signed between:

PARTY A: Minh Phu Seafood Corporation

Address: Ward 8 Industrial Zone, Ca Mau City - Province, Vietnam.
Telephone: (+84) 290-383-9391
Fax: (+84) 290-366-8795
Email: minhphu@minhphu.com
Represented by: Mr. Lê Văn Quang Position: President
(Hereinafter referred to as “SELLER”)
and
PARTY B: Parlevliet En Van Der Plas Haringhandel Besloten Vennootschap
Address: Voorschoterweg 31, 2235 SE Valkenburg, Netherlands.
Telephone: (+31) 71 789 00 00
Email: receptie@pp-group.eu.
Represented by: Mr. F. van der Plas Position: General Manager
(Hereinafter referred to as “BUYER”)

Whereas: The SELLER and BUYER both declare an interest in the sale and purchase
of goods, each with full corporate authority, certifies, represents and warrants that each
can fulfill the requirements of this agreement and respectively provide the products and
funds referred to herein, in time and under the terms agreed as follows:

ARTICLE 1. SCOPE OF SUPPLY

Headless shell-on black tiger shrimp (Penaeus monodon), 20 percent graze, IQF.
ARTICLE 2. QUALITY
All shrimps delivered to the Buyer under this Contract shall be fully complied with
TCVN 4381:2009 dated December 31, 2009 of the Ministry of Science and
Technology on headless shell-on frozen shrimp.
Moreover, shrimp shall meet these following requirements:
Asen: 2mg/kg max,
Lead: 0.5mg/kg max,
Cadimi: 0.5mg/kg max,
Mercury: 0.5mg/kg max.
Any shrimps uncomplying with principles above shall not be delivered to BUYER
under this Contract unless there are mutually agreements in writing form before
delivery.

ARTICLE 3. QUANTITY

Unit price
FCA CAT LAI PORT
Size Quantity Amount
(Incoterms 2010)
(USD/MT)

21/25 13,300.00 1.25 16,625.00

26/30 12,250.00 1.5 18,375.00

Total 2.75 35,000.00

Amount in words: Thirty five thousand US Dollars.

ARTICLE 4. LANGUAGE OF CONTRACT

If a contract is drawn up in more than two language versions, these versions are equally
authoritative, and there is a discrepancy between the versions, the contract should be
interpreted according to the English version.
ARTICLE 5. PAYMENT TERMS
Payment currency: US Dollar
Method of payment: By irrevocable deferred L/C payment in United States
Dollar, opened at ING bank N.V-Netherlands in favor of the seller for the total
value of the goods to be shipped, and advises the seller through DongA Joint
Stock Commercial Bank.

Bank information:
Issuing bank
Bank name: ING bank N.V.
Address: Amsterdamse Poort Bijlmerplein 888 1102 MG Amsterdam,
The Netherlands.
Postal address: P.O. Box 1800 1000 BV Amsterdam The Netherlands.
Swift code: INGBNL2A
Advised by:
Bank name: DongA Joint Stock Commercial Bank (DongA Bank).
Address: 06-07 Su Van Hanh, Ward 7, Ca Mau City - Province, Vietnam.
Swift code: EACBVNVX

Beneficiary: Minh Phu Seafood Corporation

Address: Ward 8 Industrial Zone, Ca Mau City - Province, Vietnam.

ARTICLE 6. REQUIRED SHIPPING DOCUMENTS

L/C shall reach the seller no later than 15 days before the expected day of shipment and be
valid for 60 days since opened. The LC shall be available for payment upon the
presentation of the following documents:
1. Bill of Lading (2 originals + 1 copy)
2. Sales Contract (1 copy)
3. Signed Commercial Invoice (2 originals + 1copy)
4. Packing List (1 originals + 1 copy)
5. Certificate of Origin by Vietnam Chamber of Commerce and Industry
(VCCI) (2 originals + 1copy),

6. Certificate of Quantity, Weight and Quality issued and Independent

 Inspection Company in Vietnam (1 original + 2 copies)
7. Non-radioactive certificate (1 copy)
8. Product certificate (2 originals + 1 copy)
9. Export license (1 copy)
10. Original Certificate of Analysis for each batch (2 originals + 1 copy)

All the banking fees, including bank commission charges and other charges associated with
the issuing bank shall be on the BUYER’s account.

All the banking fees, including bank commission charges and other charges associated with
the advising bank shall be on the SELLER’s account.

ARTICLE 7. MARKING AND PACKAGING: The product shall be put in standard

export bags.

Product Name Custom printed laminated frozen food poly bag for seafood
packaging

Material OPP+PE, PET+PE, PA+PE

Size 26x30cm (customized)

Thickness 80mic (customized)

Color Transparent

Printing CMYK, 1-8 colors gravure printing and vivid printing

1. Food grade, eco-friendly

Feature 2. Moisture-proof, damp-proof, freshness preservation
3. Vacuum available

ARTICLE 8. LABELLING SPECIFICATIONS FOR SHRIMPS:

The labels of products subject to harmonised marketing standards established by
regulation (EC) 2406/96 (OJ L-334 23/12/1996) should include the following details:
1. Country of origin (in Roman letter at least 20 mm high)
 2. Scientific name and trade name
3. Presentation, freshness and size categories (these standards shall be clearly
and indelible marked, in characters of at least 5cm high)
4. Net weight in kilograms
5. Gross weight
6. Date of grading and date of dispatch
7. Name and address of consignor
The information provided by labels shall be easy to understand, easily visible, clearly
legible and shall appear in the official language(s) of the member state where the
product is marketed.
ARTICLE 9. SHIPMENT
Delivery of goods shall be performed under FCA Incoterms @ 2010 rules.
 Place of loading: at the seller’s premise, MINH PHU SEAFOOD
CORPORATION, Industrial Zone, Ward 8, Ca Mau City, Ca Mau Province,
Vietnam.
Port of loading: Cat Lai Port, Ho Chi Minh City, Vietnam
Port of discharge: Amsterdam Port, Amsterdam City, the Netherlands.
Time of shipment: 20-25 days after L/C opening date
 THC at the port of loading and discharge to be the Buyer’s account
 Demurrage: if any, to be at the buyer’s account.
 The seller shall load goods on board of the vehicle provided by the Buyer within 3
days right after the Buyer sends the vehicle to the Seller’s premise.
Partial shipment: not allowed.
Transshipment: not allowed.
 Delivery condition: goods are transported by specialized export bags without any
attachment from external conditions. Also, products shall be stored in the containers
at a temperature of -18° C or lower, for the period of not over 3 months.

ARTICLE 10. WARRANTY

The seller shall be liable for warranty for the product of this contract within 3 (three)
months from the day of packaging.
This warranty shall not be applied to:
(i) The product damaged or spoiled during its stay on the carriage (both vessels
and containers)
(ii) The product damaged or spoiled due to the buyer’s inability to conduct proper
preservation techniques, which is faxed and emailed to the buyer on right
after L/C opening date.

ARTICLE 11. COMPLAINT

Any complaint about quality of the products shall be made by Fax immediately after
vessel received at the destination airport or shall be confirmed in written form and sent
to the seller within 20 days after such discharge. Upon this time, the seller will be free
from complaint.
Within 10 days since receiving the buyer’s complaints, the seller shall send his or her
representative of the company for counter inspection.
If the goods are not up to the stipulated in the contract, the seller is liable for
replacing new goods compatible with the contract.
If the seller fails to do so in these time, the buyer is allowed to have Vinacontrol
inspect. The result given by Vinacontrol is final and binding both sides.

ARTICLE 12. FORCE MAJEURE

Under unavoidable circumstances preventing the Buyer and / or Seller from fulfilling
their commitment to this contract, one party facing force majeure case should inform
the other by fax within 7 days at the latest. A Certificate of Force majeure issued by
Competency Authorities must be sent to the other party within 15 days from the day
when the incident happened. Beyond this stipulated period, this force shall not be
taken into consideration.

ARTICLE 13. PENALTY

If either the Seller or the Buyer wanted to cancel the contract, 10% (ten percent) of the
total contract value based on that sight unit price would be charged as a penalty to that
party. Payment of such claim will be made within 30 days from receiving the partner's
claim letter. In case of delayed shipment/delayed payment, a penalty of 1% (one
percent) of invoice value per 7 days of delay but not exceed 5% (five percent) of the
total invoice value will be applied.

ARTICLE 14. APPLICABLE LAW

This contract and all questions relating to its formation, validity, interpretation or
performance shall be governed by the Law of Contract in Singapore.

ARTICLE 15. ARBITRATION

All disputes arising out or in connection with the execution of this contract, both
contracting parties shall settle them amicably by mutual consultation in good faith in
the spirit of cooperation. lf an amicable settlement cannot be reached between the two
parties, our obligations, if any, under this document shall be governed by, and construed
in according with the Arbitration Rules of Singaporean International Arbitration Centre
(SIAC) at Singapore International Chamber of Commerce (SICC). The losing party
shall cover the fees for the arbitration and/or other charges unless otherwise, agreed.

ARTICLE 16. OTHER CONDITIONS:

1. Tax, levies on cargo at the port of loading is charged for the Seller’s account. Any
tax, levies outside Vietnam shall be charged for the Buyer’s account. Import license for
Buyer’s account and risk. Any consequences, cost, expense, damage, demurrage etc...
sustained by the Buyer due to delay or failure by the Buyer to obtain import license
shall be for the Buyer’s account.

2. This contract consist of 8 pages and shall come into force and binding for both the
Seller and the Buyer after being signed legally by both parties. The contract signed
through fax or email is not to be acceptable.

3. Any amendment or supplement to this contract shall be valid if they are in writing
and signed legally by both contracting parties.

4. Any other terms and conditions which are not mentioned in this contract will be
applied to the INCOTERMS - Edition 2010.

5. This Contract is made in Ho Chi Minh on November 27th, 2019 in 04 (Four) originals,
02 originals for the Seller (including 1 Vietnamese version and 1 English version) and
02 originals for the Buyer (including 1 Vietnamese version and 1 English version).
 FOR AND ON BEHALF FOR AND ON BEHALF

OF THE SELLER OF THE BUYER

BUYER: Parlevliet En Van Der Plas SELLER: Minh Phu Seafood Corporation
Haringhandel Besloten Vennootschap