EX-10.16 37 v220791_ex10-16.htm GRAIN FOOD PURCHASE CONTRACT Unassociated Document
 
Exhibit 10.16

Grain Food Purchase Contract

Contract No. [see attached schedule]

Party A (Purchaser): Fujian Grand Farm Foods Development Co., Ltd.

Party B (Seller): [see attached schedule]

Pursuant to the Contract Law of the People’s Republic of China, the Regulations on Sales and Purchases of Grain, and other relevant laws and regulations, and based on the principles of fairness, justice and good faith, Party A and Party B, through mutual consultation, hereby enter into the following contract for purchase of grain food:

I.
Quantity, Specifications, Price and Date of Purchase

Name of Product
Specifications
Quantity
Unit Price
Total Purchase Price
Date of Shipping
[see attached schedule]
Roughness ≥77%
Milled rice ≥ 60%
Impurities ≤1%
Water content ≤14.5%
[see attached schedule]
[see attached schedule]
[see attached schedule]
[see attached schedule]

II.
Grain Price

 
1.
The parties shall determine the lowest purchase price at the time of executing this Contract. The agreed lowest purchase price shall not be lower than the lowest purchase price set by the government. If the market price is lower than the agreed lowest purchase price, the purchase shall be based on the agreed lowest price; if the market price is higher than the agreed lowest purchase price, the purchase shall be based on the market price.

 
2.
The total purchase price shall be calculated based on the quantity purchased and the purchase price.

III.
Packaging

The products shall be packed in bags. Part B shall pay for the packaging.

IV.
Method of Shipping

1.           Time and Quantity

(1)           [see attached schedule]

 
(2)
If the delivery quantity is inconsistent with the quantity set forth in this Agreement, total payment shall be calculated based on the quantity delivered.

 
2.
Shipping

 
(1)
Party B shall ship the product to: No. 2089 East Hanhua Road, Guohuan Town, Hanjiang District, Putian City.

(2)           Party B shall pay for the shipping.
 
 
 
 
 

 
V.
Inspection upon Receipt

The parties shall work together on the inspection upon Party A’s receipt of the product. Party A shall issue a proof of receipt when the inspection is complete. Any disagreement as to the inspection result shall be resolved based on the result of a quality inspection to be undertaken by the local grain food inspection organization of competent qualification. The responsible party shall be liable for the expense of such inspection.

VI.
Payment Method: [see attached schedule]

VII.
Breach of Agreement

 
1.
Either party shall be subject to a late fee equal to 1% of the contract price for each day that the party fails to deliver or to take delivery on time.

 
2.
Party A shall be subject to a late fee equal to 1% of the contract price for each day of late payment.

 
3.
Any inconsistency in the grain food shipped by Party B to the specifications set forth in this Agreement shall be resolved by the parties through consultation.

VIII.
Dispute Resolution

Any dispute arising from the performance of this contract shall be resolved through consultation or negotiation by the parties, or be submitted to the people’s court.

IX.
Miscellaneous

This contract shall become effective upon the parties’ signatures or corporate seals. This contract shall be executed into two duplicate originals with equivalent effect, and each party shall hold one duplicate original.


Party A: Fujian Grand Farm Foods Development Co., Ltd.

Party B: [see attached schedule]

Execution Date: [see attached schedule]
 
 
 
 

Schedule to Grain Food Purchase Contract
(per Instruction 2 of Item 601 of Regulation S-K)

 
 
 
Contract No.
 
 
 
Party B (Seller)
 
 
Name of Product
 
 
Quantity
(mt)
 
Unit Price
(RMB)
Total Purchase Price
(RMB)
 
 
Shipping Date
 
 
Payment Method
 
 
Execution Date
TXLY09412
Jiangxi Longyan Rice Co., Ltd.
rice grain
4,000
2,400
9,600,000
6-30-2009
immediate
4-12-2009
TXLY09623
Jiangxi Longyan Rice Co., Ltd.
rice grain
4,000
2,400
9,600,000
9-30-2009
immediate
6-23-2009
TXLY091010
Jiangxi Longyan Rice Co., Ltd.
rice grain
4,000
2,400
9,600,000
12-31-2009
immediate
10-10-2009
TL091225
Jiangxi Longyan Rice Co., Ltd.
rice grain
4,520
2,650
11,978,000
3-31-2010
after delivery
3-12-2010
TL100312
Jiangxi Longyan Rice Co., Ltd.
Jiangxi rice grain
3,200
2,655
8,496,000
6-30-2010
after delivery
3-12-2010
TL100506
Jiangxi Longyan Rice Co., Ltd.
Jiangxi rice grain
3,020
2,655
8,018,100
6-30-2010
after delivery
5-6-2010
TL110115
Jiangxi Longyan Rice Co., Ltd.
Jiangxi rice grain
550
3,360
1,848,000
2-28-2011
To be negotiated
1-15-2011
FJLH090403
Liaoyang Liaozhong County Yangshigang Town Fengju Cereal Factory
rice grain
6,000
2,220
13,320,000
6-30-2009
immediate
4-3-2009
FJLH090712
Liaoyang Liaozhong County Yangshigang Town Fengju Cereal Factory
rice grain
4,150
2,220
9,213,000
9-30-2009
immediate
7-12-2009
FJLH091015
Liaoyang Liaozhong County Yangshigang Town Fengju Cereal Factory
rice grain
6,730
2,220
14,940,600
12-31-2009
immediate
10-15-2009
TJ090225
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,250
1,600
2,000,000
3-31-2009
after delivery
2-25-2009
TJ090428
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
422
1,420
599,240
5-31-2009
after delivery
4-28-2009
TJ090522
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,250
1,700
2,125,000
6-30-2009
after delivery
5-22-2009
TJ0909619
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Brown rice grain
1,770
2,300
7,925,400
8-31-2009
after delivery
6-19-2009
Rice grain
2,190
1,760
TJ090812
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
4,220
1,800
7,596,000
10-31-2009
after delivery
8-12-2009
TJ091019
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,450
2,000
2,900,000
12-31-2009
after delivery
10-19-2009
TJ091030
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,120
2,146.67
2,404,270
11-30-2009
after delivery
10-30-2009
TJ091118
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,100
2,475
2,722,500
12-31-2009
after delivery
11-18-2009
TJ091216
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,580
1,960
3,096,800
2-28-2010
Letter of credit
12-16-2009
Northeastern rice grain
2,000
2,550
5,100,000
1-30-2010
TJ100125
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,080
2,074.50
2,240,460
3-20-2010
Letter of credit
1-25-2010
Northeastern rice grain
4,400
2,475
10,890,000
3-31-2010
TJ100302
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,880
2,124.50
3,994,060
4-30-2010
To be negotiated
3-2-2010
TJ100320
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
1,040
2,160
2,246,400
4-30-2010
To be negotiated
3-20-2010
Northeastern rice grain
4,200
2,485
10,437,000
5-31-2010
TJ100421
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain (early harvest)
760
1,790
1,360,400
5-31-2010
To be negotiated
4-21-2010
Rice grain (late harvest)
1,200
1,950
2,340,000
5-31-2010
TJ100425
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain (early harvest)
118
1,900
224,200
5-31-2010
To be negotiated
4-25-2010
Northeastern rice grain
1,000
2,485
2,485,000
5-31-2010
TJ100503
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Northeastern rice
2,120
2,500
5,300,000
6-30-2010
To be negotiated
5-3-2010
TJ100509
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain (early harvest)
2,200
1,898
4,175,600
6-30-2010
To be negotiated
5-9-2010
TJ100603
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain
983
1,974
1,940,442
8-31-2010
After delivery
6-3-2010
 
 
 
 
 
 
 
TJ100608
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
Rice grain (late harvest)
5,200
1,960
10,192,000
7-31-2010
To be negotiated
6-8-2010
TJ100708
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
rice grain (late harvest)
3,000
1,930
5,790,000
8-30-2010
to be jointly decided
7-8-2010
TJ100809
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
rice grain (late harvest)
3,000
1,930
5,790,000
9-30-2010
to be jointly decided
8-9-2010
TJ10121801
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
rice grain (late harvest)
2,700
2,270
6,129,000
1-31-2011
To be negotiated
12-18-2010
TJ10122701
Fuzhou Hedong Cereal and Oil Trading Co., Ltd.
rice grain (late harvest)
2,700
2,300
6,210,000
1-31-2011
To be negotiated
12-27-2010
TJ11010501
Fuzhou Hedong Cereal and Oil Trading Co., Ltd
rice grain (late harvest)
4,900
2,355
11,539,500
2-28-2011
To be negotiated
1-25-2011
TJ11021501
Fuzhou Hedong Cereal and Oil Trading Co., Ltd
rice grain (late harvest)
1,150
2,360
2,714,000
3-31-2011
To be negotiated
2-25-2011
txnz10101201
Dehui Daoxiangtian Rice Co., Ltd.
northeast rice grain
3,600
2,750
9,900,000
1-31-2011
To be negotiated
10-12-2010
txnz10122401
Dehui Daoxiangtian Rice Co., Ltd.
northeast rice grain
4,000
3,230
12,920,000
2-28-2011
To be negotiated
12-24-2010
txnz11022401
Dehui Daoxiangtian Rice Co., Ltd.
northeast rice grain
3,900
3,000
11,700,000
3-31-2011
To be negotiated
2-24-2011
txnz10121901
Bayan Xinli Cereal and Oil Trading Co., Ltd
northeast rice grain
4,200
3,100
13,020,000
1-31-2011
To be negotiated
12-19-2010
txnz11010201
Bayan Xinli Cereal and Oil Trading Co., Ltd
northeast rice grain
3,300
3,230
10,659,000
2-28-2011
To be negotiated
1-2-2011
txnz11022201
Bayan Xinli Cereal and Oil Trading Co., Ltd
northeast rice grain
2,400
3,010
7,224,000
3-31-2011
To be negotiated
2-22-2011
txnz10100201
Jilin Futian  Cereal and Oil Trading Co., Ltd
northeast rice grain
3,900
2,750
10,725,000
1-31-2011
To be negotiated
10-2-2010
txnz10122201
Jilin Futian  Cereal and Oil Trading Co., Ltd
northeast rice grain
3,700
3,230
11,951,000
2-28-2011
To be negotiated
12-22-2010
txnz11022001
Jilin Futian  Cereal and Oil Trading Co., Ltd
northeast rice grain
3,400
3,000
10,200,000
3-31-2011
To be negotiated
2-20-2011