LEASE CONTRACT FOR BONDED WAREHOUSE



  • SOCIALIST REPUBLIC OF VIETNAM

    Independence – Freedom – Happiness

    ———————————————-

    No: xxx

    Date: xxx

    Referring to the Commercial Law of Socialist Republic of Vietnam.
    Referring to the Civil Law of Socialist Republic of Vietnam.
    Referring to the Circular No. 79/2009/TT-BTC and Decree No. 154/2005/NÑ-CP dated 15/12/2005.
    Referring to the need and agreement of two parties.
    Party A:

    Main Office :

    Contact Office :

    Tel No. :

    Fax No. :

    Represented by : Mr …

    Account No. :

    Party B: ABC INTERNATIONAL CORP. TAIWAN

    Office : xxx, Taipei Taiwan

    Tel No. :

    Fax No. :

    Represented by: xxx

    Two parties have agreed to enter the lease for the Bonded Warehouse Contract with following provisions:

    ARTICLE I: Content

    Under the Customs’ consent, Party B is authorized to rent the Party A’s Bonded Warehouse to store goods with following details:

    Names of items Quantity Unit price (estimated) Total Expected time – limit to store goods

    xxx

    25.00 MT

    USD 2,500

    USD 60,0000.00

    365 days (from the date of first shipment stored in bonded warehouse)
    Origin of goods : TAIWAN
    Means of transportation : Sea Vessel
    Port of discharge : HCM city port
    Expected time of arrival : AUG, 2013
    Packing : 190 Kg./Iron drum.
    Status of goods : 100% brand new
    ARTICLE II: Customs procedures

    Party A is entrusted by Party B to act as a representative of the goods’ owner to make customs declaration and complete all the related procedures to receive and transfer to the warehouse upon the goods’ arrival or deliver goods under Party B’s instructions.

    Party B will commit itself to furnish Party A with all details and materials relevant to the stored goods, exactly, fully and in time at the request of the agencies to facilitate the quick delivering and receiving of goods.

    Party B is fully responsible for the accuracy of the information and documents provided above.

    ARTICLE III: Other services

    Party B confirms to ask Party A to provide other services concerning the storage of goods within the area of the Bonded Warehouse. (These services must be stipulated in article 23, item 3 of Decree No. 154/2005/NÑ – CP released on 15/12/2005 by Prime Minister).

    Details of the provided service, content and volume will be sent to Party A whenever needs arise.

    ARTICLE IV: Time limit of the lease of the Warehouse

    Expected time – limit of Warehouse lease: 365 days (from the date of first shipment stored in bonded warehouse)
    Working hours at Bonded warehouse are from 8:00 – 12:00 AM and 13:00 – 17:00 PM (except Saturday after, Sunday and holidays).
    ARTICLE V: Notice – Information

    All information and notice between the two Parties must be sent in written documents, carrying the lease No, and recognized as being sent, when:
    It is directly hand carried bearing the authorized signature of the competent receiver.
    (Or) It is sent by air registered mail, with receipts – files confirmed by the post office.
    (Or) It is faxed, with recorded results confirming the sending date.
    (Or) Scan Delivery order of Party B is sent by email first, and Original D/O will be sent by courier within 7 days
    Party B must inform Party A about shipment schedule and send shipping document to Party A 24 working hours before the expected arrival warehouse date.
    If goods are exported from Vietnam, the party B must inform and send cargoes’ documents to the Party A 8 working hours before customs procedures are made.

    ARTICLE VI: Service and storage charge –Method of payment

    Minimum storage area : 50m2/ month
    Storage fee and services as per quotation : 42/2011/BWH
    Method of payment:
    All payments in USD will be transferred to Party A’s account No. xxx.. in VND cash at selling exchange rate of the xxx bank of the date of payment.

    Party A shall offer a monthly detailed table for Party B to pay the storage charges and other service charges (if any) at the end of each month. Party B shall make payment to Party A within 10 days from date of receipt of the table.

    Before the last stored goods is released from the bonded warehouse, Party B shall pay Party A storage charges

    ARTICLE VII : Inspection and responsibilities.

    Party A’s responsibilities:
    – To appoint a warehouse – keeper, an accountant and laborers to serve during the process of goods going in – and – out and storing the goods .

    Party A only receives legal goods. In case the goods are broken or damaged, Two parties will claim in writing.

    – To guarantee the good’s quantity in packages only, not responsible for the inner quality of goods, to facilitate the in – and – out transportation for the receipt and delivery of goods.

    – Liable for loss or damage of stocked commodities caused by party A. Compensation will be based on actual loss and damage agreed by both parties or valued by third assigned investigational party with the total amount of the invoice.

    – Not liable to compensate in force majeure conditions as stated in the Vietnam regulations or commodities’ defect;

    – Not liable for damaged-by-nature commodities stocked in warehouse;

    – Has the right to keep a number of stocked commodities to ensure party A’s legitimate rights when Party B does not pay on time (if any) with the total amount of the invoce.

    – Not allow to take commodities out of the warehouse without party B’s permission.

    – Inform to party B immediately if there is any problem.

    Party B’s responsibilities:
    The person who delivers and receives goods must have introduction letter plus ID card, and “Delivery order” same as registered form signed by the leader of Party B.

    If service – overtime, or holiday and Sundays are needed, Party A and the customs of the Bonded Warehouse must be informed 8 working hours in advance, so as well-prepared.

    Purchase of insurance for goods is Party B’ responsibility. To be responsible for goods’ quality and guarantee goods legality.

    To comply with all rules and measures of fire prevention and fire fighting for the warehouse area. The Party B’s staffs and customers are strictly forbidden to smoke in the warehouse.

    ARTICLE VIII: Supplement, amendment, cancellation of the lease.

    The lease for Bonded Warehouse contract is only amended, supplemented by written consent of both Parties with Customs’ approval.

    Prior to the expiration of the lease, if Party B wants to continue the storage of goods in the Bonded Warehouse, it must sign with the Party A an agreement to extend the lease and register with the warehouse customs to obtain the extension.

    The agreement for the lease of the warehouse remains in effect only once. If the Party B wants to continue the lease of the Bonded warehouse to store goods, it must sign another agreement.

    Any Party has the right to cancel the lease by sending a written notice 30 days in advance to the other Party.

    In case of the cancellation, the Party A agrees to deliver goods under Party B’s guidance, in accordance with the observation of proper requirements of Law of the SRVN.

    ARTICLE IX: General provisions.

    The agreement will be modified when there are new written legal regulations published relevant to operating condition specified herein.

    Both Parties must strictly observe the legal value of the above mentioned terms and conditions. Any Party who violates these terms and conditions will be legally responsible before the law in force of the government, and compensate the other Party for its loss in compliance with the aforesaid regulations. Should there be any problems, two Parties will get together, discuss and solve them.

    In case the two Parties can not settle their own dispute, the case will be referred to the Economic Court of the HCM City.

    This agreement shall be effective from the date of first shipment stored in bonded warehouse to 365 days and this contract shall be automatically considered to be liquidated when two parties fully carried out the duty of payment.

    The lease shall be produced in 3 copies in English and 3 copies in Vietnamese of equal value, 01 copy in English and 01 copy in Vietnamese for Party A, 01 copy in English and 01 copy in Vietnamese for Party B, 01 copy in English and 01 copy in Vietnamese for HCM City Customs’ files.

    On behalf of On behalf of

    Party B Party A


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