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The terms and conditions of a five-year contract for the exchange of raw iron between party a (seller) and party b (exporter). The contract includes provisions for payment, communication, material quality, dispute resolution, and transfer of responsibility. The document also specifies the consequences of contract termination.
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This contract is being made for exchange of raw iron between the PARTY A (seller of Iron) and PARTY B (exporter of iron). The parties have to follow the following terms and conditions.
1.This contract is valid for five years. 2.The contract will be initiated from 5 March
3.Both parties agree on making a monthly payment depending on the delivery. 4.In case of any problem in delivering or receiving the delivery, the party has to make sure that it has been well communicated to the other party. 5.The material has to pure and if it’s found defective then a reasonable amount of compensation has to be paid with consent and discussion of both the respective parties. 6.In case of any kind of problem first the problem must be tried to solve with help of arbitrator and not approach the court without trying to solve among them or giving each other a chance to negotiate on their convenient term.