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Ningbo Zhongqiang Electric Appliance Co

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  • Pages: 5
  • Word count: 1074
  • Category: Contract

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Ningbo Zhongqiang Electric Appliance Co., Ltd is a professional manufacturer of connectors with advanced production equipment, exquisite technology and advanced testing techniques. The “Zhongqiang” and “Bucheng” brand series products are widely used in the aerospace, automotive, instruments, meters, lighting, sound, as well as feeding the electrical service industry. We have passed IS09001: 2000 quality management system certification, as well as have got CE certificate and some of the UL product certification certificates. We adopt flexible manufacturing and scientific management, so that improve quality and reduce costs, strive to be the model in domestic industry. Zhongqiang has become one of leaders in domestic connector manufacturing industry.

Taking green and environmental protection as our design concept, in the light of international and domestic standards, we try to build a new generation of environmentally friendly products. The products’ quality is equal with Japan brand-name connectors. South Korea, the United States, / 4

Western Europe, Taiwan and other countries and regions. We’ re qualified supplier for many well-known domestic and foreign enterprises
Identify any research plans and overseas contracts that would benefit from government assistance

Ningbo Zhongqiang Electric Appliance Co., Ltd has a plan to export its products to overseas market. The company has been prepared for everything for expansion its overseas market. Ningbo Zhongqiang Electric Appliance Co., Ltd contracts with an UK company named LLC Co., Ltd for the supply of aerospace instruments and meters.

The government assistance will provide information of its customer to help manage its customer risk, Credit risk, Foreign exchange risk and Country risk. The information is about:

Customer identity
Check the legal status of the customers in their countries
The usual period of credit offered in the customer’s country The customer’s
trading history
Financial shortfall of your organization due to the customer’s delayed payment or not pay at all Transfer risks: inconvertibility of local currency

Transaction risks: late or non-payment
Transition risks: emerging market
To encourage company in exporting, Chinese government has a tax refund policy. Although the value of tax refund has been reduced for most kinds of products, however government has increased the rate of tax refund for high-technology products just like which produced by Ningbo Zhongqiang Electric Appliance Co., Ltd.

Identify one product and one contract that would benefit most from

Contract No: CE20081117
Date: 13,Oct., 2009
THE SELLER: NINGBO ZHONGQIANG ELECTRIC APPLIANCE CO.,LTD.(China) This contract is made by and between the Buyer and the Seller; whereby the Buyer agrees to buy and the Seller agrees to sell the under-mentioned goods subject to the terms and conditions as stipulated hereinafter:

( 1 ) Description of Commodity: Aerospace instruments and Aerospace meters (2)Model: XXLC2051 ; KLDD713
(3)Quantity: 50 Aerospace instruments; 200 Aerospace meters (4)Unite Price:
Aerospace per instrument: USD4000
Aerospace per meter: USD 1500
(5)Total Value: USD 500,000.00
(6)Packing: CARTON
(7)Country of Origin: NINGBO, CHINA
(8)Terms of Payment: FOB YANTIAN PORT
(9)Insurance: COVERED BY BUYER
( 10) Time of Shipment: 40 WORKING DAYS FROM RECEIPT OF THE L/C
( 11 ) Port of Lading: YANTIAN PORT, SHENZHEN
(12)Port of Destination: MANCHESTER

Within 45 days after the arrival of the goods at the destination, should the quality, specifications or quantity be found not in conformity with the stipulations of the contract except those claims for which the insurance company or the owners of the vessel are liable, the Buyers shall, have the right on the strength of inspection certificate issued by the C.C.I.C and relative documents to claim for compensation to the Sellers.

( 14) Force Majeure:
The Sellers shall not be held responsible for the delay in shipment or non-delivery of the goods due to Force Majeure, which might occur during the process of manufacturing or in the course of loading or transit. The Sellers shall advise the Buyers immediately of the occurrence mentioned above the within fourteen days thereafter. The Sellers shall send by express to the Buyers for their acceptance certificate of the accident. Under such circumstances, the Sellers, however, are still under the obligation to take all necessary measures to hasten the delivery of the goods. 2

(15) Arbitration:
All disputes arising from the execution of this Sales Contract (Contract No: CE20081117) shall be settled through friendly consultations. Tn case no settlement can be reached, the case in dispute shall then be submitted to the Foreign Trade Arbitration Commission of the China Council for the Promotion of international Trade for arbitration in accordance with its provisional rules of procedure. The decision made by this Commission shall be regarded as final and binding upon both parties. Arbitration fees shall be borne by the losing party, unless otherwise awarded.

(16) Commission:
The Seller will afford 3%C to the Buyer after payment of the commodities stipulated in this contract.
This sales contract is signed in duplicate for which each party should hold one. THE BUYER: LLC CO., LTD
Identify the sources of assistance that could be used to exploit potential overseas market opportunities
The assistance organization organizes trade fair regularly. The trade fair provides a platform that will help Ningbo Zhongqiang Electric Appliance Co., Ltd communicate with potential customers. Join in this trade fair will help the company publicize its brand. The assistance organization may act the role of an intermediary which could help Ningbo Zhongqiang Electric Appliance Co., Ltd to exploit potential overseas market opportunities. The assistance organization will provide information about customers in UK market. This information will help the company to find its potential customers. At same time, Ningbo Zhongqiang Electric Appliance Co., Ltd could provide its information to assistance organization. Members in UK market will consider building partnership with the company through this information. Identify how the organization would monitor the cost effectiveness of the assistance received from trade service organizations

Ningbo Zhongqiang Electric Appliance Co., Ltd would monitor the cost effectiveness in two sides Financc:
The company will monitor the increased of profit and the market share to evaluate how much assistance received from trade service organizations.

The company could monitor that how much rebate it gets from the tax refund policy. At the same time, because the taxes refund policy, the company could cut down its price. The low price will help its products have more competitiveness.

The popularity of its brand» and the image in the minds of customers. The information is from feedback of customers and market research. This may monitor what trade service organizations have done on introduction Ningbo Zhongqiang Electric Appliance Co., Ltd to UK market.

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