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Within 30 days after the signing and coming into effect of this contract, the Buyer shall proceed to pay the price for the goods to the seller by opening an irrevocable L/C for the full amount of USD30,000 in favor of the Seller through a bank at import port.

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A party may suspend the performance of his obligation if, after the conclusion of the contract, it becomes apparent that the other party will not perform a substantial part of his obligations as a result of: (a) a serious deficiency in his ability to perform or in his credit worthiness; or (b) his conduct in preparing to perform or in performing the contract.

With respect to those territories to which this Convention is not extended at the time of signature, ratification or accession, each State concerned shall consider the possibility of taking the necessary steps in order to extend the application of this Convention to such territories, subject, where necessary for constitutional reasons, to the consent of the Governments of such territories.

All disputes, controversies, or differences which may arise between the parties, out of or in relation to or in connection with this agreement, or for the breach thereof shall be settled through amicable consultation. If three occasions of consultation fail to settle, Agreements on Mutual Encouragement and Protection of Investment between the Government of the People’s Republic of China and the Government of the UK shall apply.

(9) Where, under the contract, the engineer is required to exercise his direction by:(a) Giving his decision, opinion or consent, or(b) Expressing his satisfaction or approval, or(c) Determining value, or(d) Otherwise taking action which may affect the rights and obligations of the employer or the contractor, he shall exercise such discretion impartially within the terms of the contract.