COMMERCIAL CONTRACT

No: QHG/3M/WOOD/01/2024
Dated: February 1,2024

This contract is made by and between:

Company name: QIHENGCHRIS INDUSTRY LIMITED

Company Address: No. 2 IYAADURA STREET, AFOLABI BUS STOP,
AKESAN ALIMOSHO LGA LAGOS, NIGERIA.
Tell: +234-8065449978; -8613616695516

Hereinafter called the SELLER”.

And
Company name: 3M IMPORT EXPORT COMPANY LIMITED
Address : 6 Team, Thuy Ung Village, Hoa Binh Commune, Thuong Tin District ,
Ha Noi City, Vietnam

Tel : 0852899929
Hereinafter called the “BUYER”.

Whereas, the seller with full corporate authority and responsibility represents, warrants and covenants
that he is selling the commodity herein mentioned under the terms specified and agreed upon by the
parties hereafter. Now, therefore, in consideration of the mutual covenants, agreements, promises,
benefits and terms herein contained, and for good and valuable consideration the parties hereto
covenant, agree and promise as follows:
1) PRODUCT:
2) ORIGIN:
3) QUALITY: A little sapwood, no rot, no decay
Measurement (CBM)= T x W x L
T= Thickness: 16-26cm and up
W= Width: 20-30cm and up
L= Length: 230cm and up
4) QUANTITY, PRICE:
Container No Number
Quantity Unit Price
Piece
Wood Type (CBM) ( US$/CBM) Amount US$
Afzelia africana TEMU2874762 292 25 452 11.300
Total 11.300

5 DOCUMENTS AND TERMS OF PAYMENT:

A- (3/3) full sets of original clean ocean Bill of Lading marked “Freight to collect”;
B- Commercial invoice in 3 original;
C- Packaging list in 3 original(s);
D- Certificate of origin 1 original, issued by competent authority
E- Certificate of Phytosanitary 1 original, issued by competent authority.
F- The Third party’s documents are acceptable.
G- Payment: 100% Invoice Value will be paid by the Buyer after selling all the woods
6) PORT OF LOADING: Tema port, Ghana.
7) PORT OF DESTINATION: Hai Phong Port, Vietnam
8) SHIPPING SCHEDULE: Within 30 days of date of signing contract.
9) ARBITRATION
- All disputes in connection with this Agreement or the execution thereof shall be settled through
amicable negotiation.
- In case no settlement can be reached; the case shall be submitted for arbitration to Ghana
International Economic and Financial arbitration of laws; or to International chamber of
commerce. The Decision made by the commission shall be accepted as final and binding upon
both parties.
- The language of arbitration shall be English
10) TAXES AND DUTIES:
- All taxes in connection with the execution of this contract levied by the Vietnam Government on
the Buyer in accordance with the tax laws in effect shall be borne by the Buyer.
- All taxes arising outside of Vietnam in connection with the execution of this Contract shall be
borne by the Seller.
11) BANK DETAILS:

BENEFICIARYS BANK: GUARANTEE TRUST BANK PLC

Address: IKOTUN, LAGOS STATE
SWIFT CODE: GTBINGLA
BENEFICIARY: QIHENGCHRIS INDUSTRY LIMITED
ACCOUT NO: 0156924859

CONTRACT SIGNATORIES
The both parties affix their respective signature and seal accepting of all the terms and
conditions contained herein, which become effective, and binding herein after.
This contract duly signed by both parties shall have validity; significance and implication.

SELLER: BUYER: