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                              COKING COAL SALES AGREEMENT


This Agreement is made and entered into this _°è¾àÀÏÀÚ day of °è¾à¿ù, °è¾à¿¬µµ by and between ÆǸÅȸ»ç¸í, a company duly incorporated in ÆÇ¸Å»ç ±¹°¡¸í (hereinafter referred to as "Seller") and, ¹ÙÀ̾î»ç¸í, a company duly incorporated in ¹ÙÀ̾î»ç ±¹°¡¸í (hereinafter referred to as "Buyer") as per set forth hereinafter.


Article 1. Subject of Agreement °è¾à´ë»ó

The Seller and Buyer agree that Seller shall sell and Buyer shall buy the Áß·®¼ö·® ¼ýÀÚ (±ÛÀÚ) metric tons of Coal(hereinafter referred to as "Coal") on the basis of FOBT µµÂøÇ×±¸¸í port for the purpose of being delivered during µµÂø¿ù, ¿¬µµ. The quantity of Coal to be loaded into individual vessel may be varied by 10% more or less of the scheduled tonnage at Buyer's option.


Article 2. Quality Ç°Áú

2.1 Coal sold under the present Agreement shall conform to the following quality specifications:

Ash (air dry basis): 9.0% plus tolerance 0.5%
Total moisture(as received basis): 7.0% max.
Total Sulphur(air dry basis): 0.2% plus tolerance 0.1%
Volatile matter(dry ash free basis): 18.0 - 21.0%
(Permissible if the Volatile Matter analyzed at the time of loading is not more than 22.0%)
Plastometer Index "Y": 9 and above
FSI: 7-9(without guarantee of Seller, only for Buyer's guidance)
Size: 0-50 §®

The quality of Coal shall be confirmed by Certificate of Quality issued by laboratory at the port of loading at the time of loading.

2.2 Standards for Coal

The analysis of each item of quality for Coal shall be made in accordance with the following standards:

Ash: ISO 1171-81
Total Moisture: ISO 589-81
Total Sulphur: ISO 334-75 Gravimetric Method
Volatile Matter: ISO 562-81
Plastometer Index "Y": GOST 1186-69(as per Sapojnikov's method)


Article 3. Price °¡°Ý

The price for Coal sold under the present Agreement is fixed at US$°¡°Ý ¼ýÀÚ (±ÛÀÚ) per wet metric ton in bulk, FOBT port.


Article 4. Time of Delivery Àεµ½Ã±â

The Coal sold under the Agreement shall be delivered during ¹è¼Û¿ù, ¿¬µµ in accordance with the shipping schedule which should be agreed between the Seller and the Buyer. The schedule should be finally confirmed by the Seller.

The date of clean Bill of Lading shall be considered as the date of delivery.

Article 5. Delivery and Acceptance Coal ÀεµÀμö

The Coal shall be considered as delivered by the Seller and accepted by the Buyer as per the following ways:

a) in respect of quantity- as per weight stated in the Bill of Lading judging by Vessel draft survey. Weight indicated in Bill of Lading shall be final and binding upon both parties.
b) in respect of quality - as per Certificate of Quality issued by laboratory of the Seller at the port of loading at the time of loading of the vessel. Quality indicated in Certificate of Quality shall be considered final and binding upon both parties.


Article 6. Penalty ¹ú±Ý

In the event total moisture indicated in Certificate of Quality issued by laboratory at port of loading exceeds 7%, invoice quantity is reduced by percentage in excess of 7%.

In the event ash on air dry basis indicated in Certificate of Quality issued by laboratory at the port of loading is more than ( )%, invoice price is decreased by US$( ) per metric ton for each ( )% more than ( )%.

In the event Sulphur content indicated in Certificate of Quality issued by laboratory at the port of loading is more than ( )%, invoice price is decreased by US$( ) per metric ton for each ( )% more than ( )%.


Article 7. Payment ÁöºÒ

7.1. Payment for Coal shall be effected by an irrevocable Letter of Credit which is opened by a prime commercial bank, a correspondent of ÀºÇà¸í Bank,

in favor of (hereinafter referred to as "Seller's Nominee") whose address is and advised by this bank ( Account No. ).

By 7 days prior to shipment the Buyer shall notify the Seller's Nominee by telegraph of the issuance of an opened irrevocable Letter of Credit for 100% value of Coal intended for shipment in accordance with Articles 1, 3 and 6. Letter of Credit terms shall state that shipment is made to order, blank endorsed, freight collect as per C/P.

The Seller shall confirm loading vessels 25 days before shipment. Validity of Letter of Credit is 60 days with the right of extension upon request of the Seller. Payment for the Coal is effected in U.S. dollars in the amount of 100% of invoice amount of the Coal in accordance with Articles 3, 5 and 6, against cable message of ABC Bank sent to the opening bank, with confirmation of fulfillment of Letter of Credit terms and conditions in all respects.
In accordance with Letter of Credit, shipping documents shall include:
a) Draft
b) Invoice in 3 copies
c) Full set (2 originals + 2 copies) of clean on board Ocean Bill of Lading signed by the master of the vessel issued to order, blank endorsed, freight collect as per C/P
d) Original Certificate of Weight signed by the shipmaster - 3 copies
e) Original Certificate of Quality issued by the laboratory at the port of loading-3 copies.

7. 2. Demurrage/despatch ü¼±·á/Á¶Ãâ·á

Within 30 days after receipt by the Buyer of time sheet copy (time for loading of a vessel), the Buyer/the Seller shall submit to the Buyer/the Seller by cable accounts of demurrage/despatch for each shipment.
Payment for demurrage/despatch is effected by remittance in US. dollars within 30 days between the parties to the following accounts:
a) demurrage - to the account of the Buyer
b) despatch - to the account of the Seller's Nominee in Singapore.


Article 8. Shipping Schedule ¼±ÀûÀÏÁ¤

Not later than 33 days before the beginning of such month of shipment, the Seller and the Buyer are to agree upon the quantity of Coal to be shipped during this month. Within next three days after the quantity is agreed, the Buyer shall inform the Seller about schedule of vessel arrival at the port of loading.
Schedule of vessel arrival comes into force after it is confirmed by the Seller and considered as shipping schedule for the month.

Article 9. Transport Conditions ¿î¼ÛÁ¶°Ç

9.1. FOBT (Free on Board including Trimming) means that the Seller is considered to fulfill its obligations on delivery of Coal from the moment the Coal has passed vessel's rails at the port of loading. It means that the Buyer is to bear all expenses connected with Coal transportation and all risks of its damage and destruction from that moment.

9.2. The Seller is obliged to :
- Get export license or other official permission for export of Coal and execute custom formalities for export at its risk and account in .
- Within 5 days after receiving notification from the Buyer about name of the vessel, quantity of Coal, deadweight of the vessel, flag, estimated date of arrival at port of loading, Seller agrees with the Buyer upon the date of loading and gives final confirmation.
- Bear all expenses and risks of Coal, damage and loss up to the moment that Coal has passed vessel's rails at the port of loading, including those necessary to cover loading of Coal on board of the vessel, but excluding cases when such expenses and risks are caused by the Buyer's failure to fulfill its obligations.
- Load Coal on board of the vessel nominated by the Buyer, at port of loading, within estimated time and according to the rules of the port.
- Notify the Buyer or its agent that Coal are loaded on board of the vessel.

9.3. The Buyer is obliged to :
- Get import license or other official permission and execute all custom formalities necessary for import of Coal at its expense and risk in (µµÂø±¹°¡¸í).

- According to shipping schedule agreed upon with the Seller, at its account conclude an agreement on transportation of Coal from the port of loading, notify the Seller and Seller¡¯s forwarder not later than 25th day before estimated date of shipment about name of the vessel, quantity of Coal, vessel deadweight, flag, estimated arrival date of vessel at port of loading.
- According to date of vessel loading confirmed by the Seller notify Seller¡¯s forwarder through the master or his agents about vessel's ETA at least 10 days before, two days before about the exact date of vessel's arrival, and also 24 hours before.
- At its account and risk, bring the vessel to the berth at port of loading at the time agreed upon with the Seller and in accordance with the rules of the port, having all necessary formalities fulfilled and all duties and charges connected with berthing paid.
- Bear all expenses and risks of damage and loss of Coal after the Coal have actually passed the rails of the vessel, except those cases when such expenses and risks are caused by the Seller's failure to fulfill its obligations.

9.4. Port of loading. ¼±ÀûÇ×±¸

- ¼±ÀûÇ׸í port is considered to be port of loading. ¼±ÀûÇ׸í port can accept vessels with deadweight from 10,000 to 100,000MT and can provide handling of vessels during weather working day at the following rates:

Deadweight, MT Rate of loading MT per day
10,000 - 30,000 6,000
30,000 - 60,000 9,000
60,000 and over 12,000

Payment of demurrage/despatch money is effected in US dollars at the following rates:

Deadweight, MT Demurrage USD/day Despatch USD/day
10,000 - 30,000 4,500 2,250
30,000 - 60,000 6,000 3,000
60,000 and over 8,000 4,000

9.5. Counting of laytime at port (00Ç׿¡¼­ ·¹ÀÌŸÀÓ °è»ê)

Lay time is the time necessary for the port to handle a vessel taking into account above mentioned rates of loading. A working day is consecutive 24 hours weather permitted .

NOR may be tendered after arrival of vessel at the loading port during office hour whether in free pratique or not, whether in berth or not, whether in port or not, whether customs cleared or not and ready to receive cargo in every respect.

Lay-time is to commence at 13:00 of the day if Notice of Readiness is given before 12:00 of this day.
And is to commence at 08:00 of the next day, if Notice of Readiness is given after 12:00 of this day.

Saturday's afternoon, Sundays and holidays are excluded from lay- time unless used, in which case the actual time used shall be counted as laytime. Lay-time is interrupted for the period of bad weather confirmed by a document of the port, also in case of strikes and other events beyond control of the Seller.

Actual time used for shifting from the place of waiting for the berth to the berth is excluded from lay-time. In case after berthing a vessel is found not to be ready for loading, actual time used for getting ready for loading(since the moment of finding out till a vessel is completely ready for loading) is excluded from lay-time.

Article 10. Force-Majeure ºÒ°¡Ç×·Â ±ÔÁ¤

Force-majeure is understood as events or conditions occurred after signing of the present Agreement beyond control of the parties which cannot be foreseen or avoided and which prevent or delay partially or completely fulfillment of the present Agreement.
In case any party undergoes force-majeure this party is released from liability for the period force-majeure circumstances remain in force.

The party which experiences force-majeure circumstances shall notify the other party by telex or by fax within two working days about nature, place and date of force-majeure circumstances beginning with further confirmation by registered letter. Occurrence, accuracy of description and nature, place and date of occurrence of force-majeure circumstances are to be confirmed by a document of Chamber of Commerce and Industry or other authorized organization of the country of the party where force-majeure circumstances took place.

After force-majeure circumstances are over the party is to notify the other party in accordance with the same procedure as for occurrence of force-majeure circumstances.
In case, due to force-majeure circumstances, one of the parties fail to fulfill its obligations within two months, this party is entitled to cancel the present Agreement with prior written notice of the other party.

Article 11. Arbitration ÁßÀç

All disputes which may arise under the present Agreement or in connection with it shall be submitted without recourse to the court of law to arbitration as follows:
a) If Seller are defendant in a dispute, arbitration shall take place in ¼¿·¯°¡ ÇÇ°íÀÎ °æ¿ì ¼¿·¯ÀÇ Áö¿ª ¹ý¿ø , Seller¡¯s country at the Arbitration tribunal of Chamber of Commerce and Industry in accordance with rules of procedure of this tribunal.

b) If Buyer is defendant in a dispute, arbitration shall take place in ¹ÙÀ̾ ÇÇ°íÀÌ¸é ¹ÙÀ̾îÀÇ Áö¿ª ¹ý¿ø (¿¹. the Korean Commercial Arbitration Board in accordance with commercial arbitration rules of the said board.)

Arbitrator(s) will make a decision in accordance with terms of the present Agreement and standards of law applied on the basis of laws on disputes in consideration of that party where the arbitration takes place and also in accordance with generally accepted rules of international trade. Award of the appropriate arbitration is final and binding upon both parties.

Article 12. Other Conditions ±âŸÁ¶°Ç

12.1 °©À»º´Á¤¿¡¼­ º´È¸»ç Company and °©À»º´Á¤¿¡¼­ Á¤È¸»ç shall guarantee the Buyer that the Agreement whereof shall be performed well in every respect and indemnify the Buyer against any financial loss to be caused by the Seller¡¯s failure to perform the Agreement hereof.

12.2. From the date of signing of the present Agreement, all negotiation and correspondence connected with it before signing become null and void.

12.3. All amendments and addendum to the present Agreement are valid only if they are made in writing and signed by the authorized representatives of both parties.

12.4. The present Agreement is made in English in 4 copies.

Article 13. Legal Addresses Of The Parties

The Seller :
Address :
Tel: / Fax: / Telex:
The Buyer:
Address :
Tel : / Fax : / Telex:

WITNESS:

"º´"ȸ»ç¸í
Address :
Tel: / Fax:

"Á¤"ȸ»ç¸í
Address :
Tel: / Fax:


IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the date first above written, and each party retains one signed original.


ÆǸŻç¸í                                                  ¹ÙÀ̾î»ç¸í
Name, Title                                            Name, Title



"º´"ȸ»ç¸í                                              "Á¤"ȸ»ç¸í
Name, Title                                          Name, Title






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