CONTRACT NO. .

BETWEEN 

GOVERNMENT OF THE UNION OF MYANMAR

MINISTRY OF PROGRESS OF BORDER AREAS

AND 

NATIONAL RACES
SPECIAL DEVELOPMENT PROJECT

AND 

MYANMAR HYOSUNG CO.,LTD

FOR THE SUPPLY OF
AUDIO AND VIDEO SYSTEM
FOR BUILDING( B, C, D, J)
OF PROJECT (A) 

Date: .
 GOVERNMENT OF THE UNION OF MYANMAR
MINISTRY OF PROGRESS OF BORDER AREAS AND NATIONAL RACES
SPECIAL DEVELOPMENT PROJECT
1. This contract is made in Nay Pyi Taw, the Union of Myanmar, on the_ th day of August,
2010 BETWEEN, The Special Development project unit, Ministry of Progress of Border
Areas and National Races by U Kan Chun, Secretary of Work Committee for Special
Development Project, Ministry of Progress of Border Areas and National Races
(hereinafter called "The Buyer" and its nominees or successor thereof), as the one party.
And Mr. Yoon Hun Sup, Managing Director of Myanmar Hyosung Co.,Ltd., Room
9(A), 1st Floor, Micasa Hotel, No.17, Kaba Aye Pagoda Road, Yankin Township,
Yangon, Myanmar and Mr. Lee Tae Bum, Director of Byucksan Power Co.,Ltd.
Addressed at 44 24 Yoido-dong, Youngdeungpo-gu, Seoul, Korea. (hereinafter called”
The Seller” and its nominees or successor thereof) of the other party. 
2. WHEREAS, The Buyer and Seller have agreed for the contract in order to do the terms of
Purchasing, Importing, Acceptance and Settlement of Payment of the commodities. 
3. The contract means the descriptive specification are regarded as Appendix and Attachment
as the part of this contract. 
Contract Validity
4. This Contract is affected in this day and validity is from opening day of Letter of Credit to
the cargo arrival to the project site. 
5. If there any changes during the process, we all accept to think over the Contract value and
the finishing period of Project. 
DELIVERY PERIOD
6. The cargo shall be delivered within (4) months from opening day of Letter of Credit. 
PRICE VALIDITY
7. The price validity shall be fixed within (6) months from the closing date of the Tender.
PAYMENT TERM
8. The payment term shall be Irrevocable at sight L/C to be opened in Myanmar Foreign
Trade Bank, Union of Myanmar in favor of Byucksan Power Co.,Ltd. Advising to Korea
Exchange Bank, Korea. Payment Term is partially upon shipment. 
DEVELIRY TERM
9. Cargo shall be delivered as (CIF) Yangon. 
COMMODITY, QUANTITY AND PRICE
10. By the requirement of BUYER, the SELLER is responsible to supply the following
items, quantity and price in accordance with the terms and conditions where described In
this Contract. (The Detail lists are as per by Appendix (A). 
 (1) Material only (US $) 
Quantity Price Amount
S/N Items
(Nos) (US$) (US$)
(A) Audio System (B,C,D,J) 1 Lot
(B) Video System (B,C,D,J) 1 Lot
Material Total

(2) Services (US $) 

Quantity Price Amount
S/N Items
(Nos) (US$) (US$)
(A) Audio System (B,C,D,J) 1 Lot
(B) Video System (B,C,D,J) 1 Lot
Services Total
(3) Grand Total (US$)
Quantity Price Amount
S/N Items
(Nos) (US$) (US$)
(A) Audio System (B,C,D,J) 1 Lot
(B) Video System (B,C,D,J) 1 Lot
Total
Specification
11. On the requirement of BUYER, the SELLER must be able to prepare, the imported
items, Country of origin, Specification and it's Warranty. (The Specification of every
items must describe by appendix (B). 
Other Sectors 
12. The particular items, Prices and Specification added with the Contract are the parts
of this Contract.
Delivery and Acceptance 
13. The supplier shall maintain the price for 6-months and the cargo shall be delivered
within 4 months from opening day of Letter of Credit. If the SELLER can not
deliver the cargo in time, buyer will charge a late delivery penalty as 5000 Kyats per
day. 
14. The SELLER must transfer the cargo to party or authorize one constituted by
BUYER. 
15. The authorized party of BUYER will inspect the every imported items in accordance
with the Contract and if found defective or inferior in quality and quantity, these
cargo shall be rejected and the SELLER is responsible to replace in rejected items
within (45)days by own expense.
Payment 
16. The BUYER must open the letter of credit payable amount (US$ 5,561,708.11) in
Grand Total through Myanmar Foreign Trade Bank to the SELLER's nominated
 bank. The SELLER must inform in prior the name of Beneficiary's Bank Details
within (5) days after signing of Contract where to transfer the letter of Credit
by,BUYER. BUYER's L/C for various items mean the total value of CIF Yangon.
BUYER must open Letter of Credit within (1) month after receiving the
Performance Guarantee of Seller mentioning a part of contract hereto. The SELLER
is responsible to submit the following documents---; 
(1) Bill of Loading  (3) sets
(2) Commercial Invoice  (10) sets
(3) Packing List  (4) sets
(4) Manufacturer's Certificate of Quality and Quantity (4)sets.

17.The Service Charges (US$ 1,152,487.00) will be only be issued after commissioning
and testing against a letter of acceptance by the Buyer. 
18.An amount of L/C is only for the CIF Yangon value and all of duties, taxes and
inland transportation in relation with this Contract, payable in Myanmar shall be
borne by The Buyer 
Bank Guarantee 
19.The Seller shall provide Performance bank guarantee an amount, (US$
55,617.00) as 1% of Contract Value within 5-days to the Buyer through Myanma
Foreign Trade Bank. 
Contract Amendment
20.The Contract Amendment shall be proceeding by the agreement of both parties
“SELLER AND BUYER". 
TERMINATION
21.This Contract will terminate after receiving all items by 'BUYER'. 
Governing Law
22.This contract shall be governed by the law of Union of Myanmar.
Taxes
23.All taxes in relation with this contract payable out side of Myanmar shall be borne
by the Seller. All taxes in relation with this contract payable in Myanmar shall be
borne by the Buyer. 
Penalty
24.If there any event of failure in one Party because delay on Contract term, the other
party have to pay penalty and agree to solve the penalty by both Parties. 
Arbitration and Disputes
25.If any question or difference whatsoever shall arise between the parties hereto or
their respective representative or between one of the parties hereto and their
representatives of the other of them touching this Contract or any Clause or thing
herein contained herewith or arising thereof or the operation thereof or the rights,
duties or liabilities of either party in connection with premises then and on every
 such case unless the parties concur in the appointment of a single arbitrator the
matter in difference shall be referred to two arbitrator, one shall be appointed by
each party to the difference or to an umpire to be appointed by the arbitrator in
accordance with the provisions of the Arbitration Act 1944 (Myanmar Act. IV of
1944) or any then subsisting statutory modification thereof and such Arbitration
shall take place in Yangon. 
Force Majeure 
26.In this Clause, “Force Majeure” means an exceptional event or circumstance: 
(a) which is beyond a Party's control,
(b) which such Party control not reasonably have provided against before entering
into the Contract,
(c) which, having arisen, such Party could not reasonably have avoided or
overcome, and 
(d) which is not substantially attributable to the other Party. 
Force Majeure may include, but is not limited to, exceptional events or circumstances of
the kind listed below, so long as conditions a) to d) above are satisfied: 
i) war, hostilities (whether war be declared or not), invasion, act of foreign
enemies,
ii) rebellion, terrorism, revolution, insurrection, military or usurped power, or
civil war,
iii) riot, commotion, disorder, strike or lockout by persons other than the
SELLER's Personnel and other employees of the SELLER and respective
representative
iv) munitions of war, explosive materials, ionizing radiation or contamination by
radio-activity, except as may be attributable to the SELLER's use of such
munitions, explosives, radiation or radio-activity, and
v) natural catastrophes such as earthquakes, hurricane, typhoon or volcanic
activity. 
Any circumstances consisting the Force Majeure and shall specify the obligations, the
after the SELLER became aware, or should have become aware, of the relevant event or
circumstance constituting Force Majeure. 
Signing Contract 
27.Both parties such as BUYER AND SELLER hereby agreed and signed this contract
on the date of 18th August, 2010. 
 In the Present Of

BUYER SELLER

Name : Name :

………………………………… …………………………………
Rank : Rank :

………………………………… …………………………………
Passport No. : Passport No. :

………………………………… …………………………………
Company : Company :

………………………………… …………………………………

Name : Name :

………………………………… …………………………………