Three. Payment Terms 1. After the signing of the agreement between Party A and Party B, Party B shall pay a deposit of USD 70,000 to Party A. 2. Party A will dismantle, repair, and paint the main equipment. Party B shall pay the second installment of USD 210,000.00 before 15-June-2013. 3. Before loading the goods into containers, Party B shall pay USD 200,000.00 and Party A will then proceed with the shipment. 4. Upon completion of installation and testing of the machinery in Vietnam, Party B shall pay the final installment of USD 46,580.00 within 15 days.
Responsibilities of Each Party 1. After receiving the first deposit, Party A will start dismantling the equipment and promise to complete the maintenance, painting, and other tasks related to the main equipment within 50 days. 2. Within 10 days of receiving the deposit, Party A will provide the installation foundation drawings for the main equipment. 3. Party A will send engineering personnel to assist Party B in installing the equipment. The cost of local accommodation and meals for the engineering personnel will be borne by Party B. 4. After the equipment arrives at Party B's destination, Party A will guide the installation and testing of the machinery. Party B will be responsible for all costs related to the technical installation, such as pipelines and electrical circuits. 5. Party A will notify Party B to inspect the equipment before it is loaded into containers. Party B shall then make the payment for the third installment. 6. Any issues that arise after the completion of the machine equipment debugging will be the sole responsibility of Party B and will not involve Party A.
三. Payment Terms
1. Party B pay the deposit USD 70, 000 to party A after the signature of the agreement by both parties.
2. After the deposit, party A should disassemble, repair and paint the main equipments. Party B should pay USD 210, 000 to party A before 15-JUN-2013.
3. Party A shall pay party B USD 200, 000 before the shipment.
4. Final payment, USD46, 580, should be paid within 15 days since the machinery was installed, debuged, checked and accepted in Vietnam.