NO: Date: This Agreement is entered into on May 1, ________,in________,China,betoeen________,Co.with its principal office.at________,China(hereinafter called the Leasee)and________Co.with its principal office at________(hereinafter called the Leasor).Hereby,the Leasor leases to the Leasee and the Leasee hires from the Lessor the commodity described hereunder in accordance with the terms and conditions set forth below: 1.Commodity and Descriptions: Commodity: Specifications and Capability: 2.Quantity: 3.Rentn firm bases. Rent per set: Total rent: 4.Shipment: Time of shipment: Port of Loading: Port of Destination: Shipping Marks 5.Place Where the Aforesaid Commodity Is to Be Used: 6.Payment: The total rent shall be paid in two installments,of which,one shall be paid by the Leasor to the Leasor after six months from the date lf the arrival of the commodity at the port of destination,and the other shall be paid by the Leasee to the leasor after be paid by the Leasee to the lessor after twelve monthsfrom the date of the commodity arriving at the port of destination.Each payment is to be made in US dollar by T/T to Leasor may designate.After the commodity is delivered the Leasee shall pay the Leasor the full amornt of rent in accordance with the aforesaid terms and conditions,no matter whether or not the Leasee actually uses the commodity for any reason including force majeure accidents. 7.Ownership: The ownership of the commodity belongs to the Leasor,before he transfers it to the Leasee. 8.Disposal: Upon the expiration of the lease agreement,provided that there is no defarlt on the Leasee's sede,the Leasee shall be entitled to purchase the commodity from the Leasor at US________each.When the Leasee has paid the price thereof,the commodity shall belong to the Leasee. 9.Arbitration: Any dispute arising from this agreement shall be settled amicably through consultations between the two parties hereto.They agree that if no settlement can be reached,the case in dispute shall be submitted to arbitration,Incase the Leasor is the plaintiff,the arbitration shall take place in________,China;in case the Leasee is the plaintiff,the arbitration shall be conducted in________.The award of the arbitration shall be final and binding upon both parties. 10.Taxes: Allearnings made in China by the Leasee shall be subject to taxation in accordance with the laws of the People's Republic of China. 11.Right of Using the Commodity: Nobody except the Leasee may use the commodity,but the Leasee shall not allow any other person to use the commodity withort the Leasor's prior written consent. 12. Guarantee: The Leasee shall furnish the Leasor,on/after the signing of this agreement but not later than one month prior to the date of the shipment of the commodity stated herein,with a letter of guarantee issued by Bank of China, ________in favour of the Leasor as the secruity of full execution of the Leasee's obligations under this agreement. 13.Default Interest: In case the Leasee is in default of any payment herein,the Leasee shall pay the Leasor a default interest on the amount delayed at the rate of ________% per annum as from the date when the payment is due to the date of actual payment. 14.Maintenance: The Leasee shall keep the commodity in good condition at his expense,but the Leasor shall be responsiboe for the breakdown of the commodity and the Leasee may lodge claims against the Leasor for anlosses occurred therein. 15.Duration: The duration of this agreement is one year commencing from the date of the commodity's arrival at the port of destination. 16. Governing Law: The formation,interpretation and exeion of this agreement shall be subject to the laws of the Peopoe'sRepublic of China. In WITNESS where of the parties hereto have executed this agreement in English,in duplicate the day ayear first above written,each party retaining one copy thereof. ABC Co. ________: XYZ Co. ________: (signature) (signature)
n firm bases.
