Exhibit 10.19
Tianjin Boai Pharmaceutical Co., Ltd.
Contract of Purchases and Sales of Products
Supplier: Tianjin Boai Pharmaceutical Co., Ltd. | Contract No.: |
Acquirer: Beifang International Holding Tianjin Medicines and Health Products Import & Export Co., Ltd. | Signing Place: |
| Signing Date: Jan 5, 2010 |
| 1. | Category, Specification, Quantity and Price |
| Product Name | Product
Standard | Unit | Quantity | Unit Price | Subtotal Amount |
| Ginseng Tea | 100-Tea-Bag | Box | 25,000 | 450 | 11,250,000 |
| Ginseng Health Tea | No. 1 | Box | 6,000 | 104,0 | 6,240,000 |
| Ginseng Health Tea | No. 2 | Box | 6,000 | 104,0 | 6,240,000 |
| Wild Ginseng Tea | 100-Tea-Bag | Box | 16,000 | 450 | 7,200,000 |
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| Total amount in RMB (Capitalized): Ten Million Nine Hundred and Thirty Thousand | |
| 2. | Quality Requirements: the quality of products should be in line withthe Chinese Pharmacopoeiaandthe Standards of Pharmaceuticals Industry. |
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| 3. | Place of Delivery: designated warehouse. |
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| 4. | Time Limit of Delivery and Receipt: within 30 days from the order date. |
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| 5. | Transportation Mode, Arrival Place and Freight Payer: the Supplier shall delivery the products to the Acquirer in _____days at the arrival place ofthe designated warehouse, the Acquirer shall be responsible for the freight and the unloading charges after arrival of the goods. |
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| 6. | Ways of Check and Acceptance: after the receipt of the products by the Acquirer, they could raise an objection to the Supplier in writing within 7 days started from the receipt if any of the category, specification, quantity and quality does not match the contract requirements, otherwise the products would be deemed to be in accordance with the standards. Similarly the Supplier should make the response with handling suggestions within 7 days started from receiving the written objection from the Acquirer, otherwise they should be considered as acquiescence with the objection. |
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| 7. | Settlement Form and Time Limit:Wire Transfer on a Monthly Basis |
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| 8. | Default Responsibility: if there is overdue payment by the Acquirer, they should pay 10% of the overdue part as liquidated damages. |
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| 9. | Solutions of Contractual Dispute: if any dispute occurs, the Supplier and the Acquire should resolve the dispute through consultation, when no results come to the end, the dispute would be applied to an arbitral authority in the Supplier’s area for arbitration. |
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| 10. | Other Terms Appointed:the Supplier promises to provide other products on the basic of factory prices. |
| 11. | Notice: The Contract is in quadruplication, every piece is legally of equal effect after being signed and sealed by the Parties. |
the Supplier: | the Acquirer: |
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(Special Contract Seal of Tianjin Boai Pharmaceutical Co., Ltd.) | (Special Contract Seal of Beifang International Holding Tianjin Medicines and Health Products Import & Export Co., Ltd.) |
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Company Name: | Company Name: |
Tianjin Boai Pharmaceutical Co., Ltd. | |
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Company Address: | Company Address: |
No. 4, Ronghua Road, Nanhe Town, Xiqing District, Tianjin | |
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Signatory Representative: | Signatory Representative: |
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Opening Bank: | Opening Bank: |
Tianjin Binhai Rural Commercial Bank Co., Ltd., Ningfa Subbranch | |
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Opening Account No.: | Opening Account No.: |
9101101000010000004209 | |
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Tax No.: 12011730358629 | Tax No.: |
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Telephone: 022-27610853 | Telephone: |
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Fax: 022-27610853 | Fax: |
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Pose Code: | Pose Code: |
Duration of the Contract: fromJan. 5, 2010toJan. 4, 2011.
