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sample of ADDITIONAL CONTRACT
 

This Additional Contract(hereinafter referred to as ¡°Additional Contract¡±) made and entered into on   Ãß°¡°è¾àü°áÀÏ    by and between  ¼öÃâÀÚ A, a company duly organized and existing under the laws of ¼öÃâÀÚ AÀÇ ±¹°¡¸í and having its principal office at  ¼öÃâÀÚ AÀÇ ÁÖ¼Ò(hereinafter referred to as *A") and ¼öÀÔÀÚ B, a corporation duly organized and existing under the laws of ¼öÀÔÀÚ B ±¹°¡¸í and having its principal office at ¼öÀÔÀÚ BÀÇ ÁÖ¼Ò(hereinafter referred to as ¡°B¡±)

 
WITNESSETH

WHEREAS, the parties hereto have executed Contract (No. ¿ø°è¾à¹øÈ£) on ¿ù ÀÏ, ³â(hereinafter referred to as "Original Contract"), and


WHEREAS, the parties hereto desire to keep the closer co-operative relationship between themselves and to amend some provisions of the Original Contract due to "A" ¡¯s breach under Original Contract and to make an addendum in order to perform their businesses successfully.

NOW, THEREFORE, in consideration of the mutual agreements and covenants herein, the parties hereto agree as follows:


Article 1. Rescheduling of shipment

1. Original Contract will be completed through three installment shipments. Each cargo quantity shall be (¸î Åæ)Metric tons, (¸î Åæ)Metric tons and (¸î Åæ)Metric tons. If sum of quantity delivered by 3(three) separate shipment fall within range of 5% more or less of total quantity, contract deems to be completed. Goods which deviate from (ÃÑ ¸î Åæ)Metric tons within range of 5% more or less, shall be settled at contract price.

2. "A" shall arrange the loading of cargo on the vessel designated by "A" in priority order.

 
Article 2. Shipment for First

1. Cargo readiness: "A" shall make cargo ready for loading and prepare all export documents by ¿ù ÀÏ, ³â

2. Vessel arrival time: from ¿ù ÀÏ, ³â to ¿ù ÀÏ, ³â, both dates inclusive

3. Payment: L/C under the number of ½Å¿ëÀå¹øÈ£ will be amended for this shipment. Total quantity and amount of L/C will be (¸î Åæ)Metric tons(5% more or less) and USD (±Ý¾×)(5% more or less)

  
Article 3. Shipment for Second

1.  Cargo readiness: "A" shall make cargo ready for loading and prepare all export documents by ¿ù ÀÏ, ³â

2.  Vessel arrival time: from ¿ù ÀÏ, ³â to ¿ù ÀÏ, ³â, both dates inclusive

3.  Payment: By irrevocable at sight letter of credit in conformity with the terms and conditions of Original Contract as amended hereby. L/C shall be opened before ¿ù ÀÏ, ³â and be negotiable on presentation of the documents as set forth in Original Contract.

 
Article 4. Shipment for Third

1.  Cargo readiness: "A" shall make cargo ready for loading and prepare all export documents by ¿ù ÀÏ, ³â. 

2.  Vessel arrival time: from ¿ù ÀÏ, ³â to ¿ù ÀÏ, ³â, both dates inclusive.

3.  Payment: By irrevocable at sight letter of credit in conformity with the terms and conditions of Original Contract as amended hereby. L/C shall be opened before ¿ù ÀÏ, ³â and be negotiable on presentation of the documents as set forth in Original Contract.

 
Article 5. Non-performance

In case "A" breaches this Additional Contract, "B" shall have the right to claim against "A" and "B" shall compensate "A" any and all damages, costs and expenses including legal cost and lost profit and so on incurred to "A" thereby including but not limited to those in connection with and raised out of the Original Contract.

 
Article 6. Termination
 
1. If "A" fails to make the cargo ready for any of the first, second, balance shipment stipulated in the article 2, 3, 4 of this Additional Contract, "B" may terminate this Agreement immediately and without incurring thereby any liability to "A", by merely serving a notice of termination on "A".

2. Termination of this Agreement is without prejudice to any claim of "B" against "A" for any antecedent breach and to the right of "B" to recover damage, loss, compensation and all sums payable under the Original Contract.

 
Article 7. Other Contents

Except as hereinabove expressly agreed and amended, all of the terms and conditions of the Original Contract shall continue in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their authorized officers as of the date first above written.


Seller A.                Buyer "B"

By                          By

Name                    Name

Title                      Title












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