Document Sample

This sales agreement was made and entered into on 1st of December 2008 between

Seller: 1. …………………………………., with its main office and address of management
at ………………………………., registered at Sofia City Court with company’s file
121212/2020, batch № 77777, Register 1, Volume 1111, page 222, VAT № ………..,
BULSTAT № BG 1111111111, represented by ………………….., hereinafter referred to as
the SELLER, on one side.

Buyer: 2. …………………………………., with principal office and address of management
at ………………………………., registered at Sofia City Court with company’s file 12/2020,
batch № 7, Register 10, Volume 11112, page 22, VAT № ……….., BULSTAT № BG 22,
represented by ………………….., hereinafter referred to as the BUYER, on the other side.

Article 1. Subject of the Contract

The Buyer agrees to buy under the conditions described hereinafter two (2) Gantry cranes, as
mentioned in Art. 2., referred to as Equipment.

The Buyer, at his own cost, shall organize dismantling, packing, loading, transportation and
demobilizing of the Equipment.

The Buyer shall commence loading of the Equipment upon notification by the Seller and shall
perform and complete its loading in accordance with the site regulations, the Seller’s
approved Method Statement and under the general direction of the Seller in accordance with
Seller’s schedule.

Article 2. Equipment

The SELLER states that he is the lawful owner of the Construction Equipment as described

   A. Gantry Crane 10 tons

        Condition : As it is
        The rail track shall be considered as an external part of the Gantry crane but shall
         be included as part of the Equipment.

   B. Gantry Crane 15 tons

        Condition : As it is
        The rail track shall be considered as an external part of the Gantry crane but shall
         be included as part of the Equipment.

Article 3. Contract Amount
The Buyer shall pay to the Seller the equivalent in BGN according to the official exchange
rate of BNB of an aggregate amount of Euro 26 000 or in words Euro twenty six thousand,
VAT excluded, as per the Buyer’s offer as shown in Appendix 1, which shall be an integral
part of this agreement.

Article 3. Payment terms

The Buyer shall pay the contract amount of EUR 26 000 (twenty six thousand Euro), VAT
excluded to the Seller in two installments according to the following schedule:

First Installment – Advance payment

EUR 18 888.87 (eighteen thousand eight hundred eighty eight Euro and eighty seven Euro
cents) VAT excluded - payable against proforma invoice within five working days after
signing this contract but not after the commencement date of transportation of the Equipment.

First Installment – Final Payment

EUR 7 111.13 (seven thousand eleven hundred and eleven Euro and thirteen Euro cents),
VAT excluded - payable within 5 days after issuing of the respective original sale invoice by
the Seller.

Bank Details

IBAN                  : …………………
CURRENCY              : …………………..
SWIFT/BIC             : …………….
BANK                  : ……………
BENEFICIARY           : ……………….

Article 5. Dismantling and Transportation Process Schedule

Date of commencement:        01.12. 2008
Duration:                    10 calendar days
Date of Completion:          10.12.2008

The buyer shall assign Supervisor for disassembling. He will follow safety regulations for this
kind of works including transportation and loading. The buyer shall estimate and provide the
Seller with the number of trucks which will be necessary for easy loading of the dismantled

Article 6. Seller’s Responsibilities

The Seller shall provide free of charge to the Buyer the following:

a) Access to site and open space within mentioned schedule in Art.5 for dismantling, loading
   and transportation of the Equipment.
b) The liability of the Seller shall pass to the Buyer upon starting of the dismantling process.
   The ownership of the Seller shall be terminated once the full payment of the Contract
   amount has been received and the final loading of the equipment to the trucks has been
c) The Seller shall not be responsible for any defects, damage, or malfunction of the
d) The Seller shall provide all documents related to the Equipment (a book for inspections, a
   wiring diagram, etc.). Upon receiving of the payment (stipulated in Art. 4 above), the
   documents will be handed over to the Buyer.
e) The Seller shall settle the Buyer’s invoice on time and fully

Article 7. Buyer’s responsibilities

a) The Buyer shall, at his own cost, with due care and diligence, timely dismantle and
   transport the Equipment in accordance with the provisions in the Contract.
b) The Buyer shall execute and complete the dismantling and transportation processes. He
   will make logistic arrangements for the transportation with authorized persons or
   Company with necessary registration for such kind of work.
c) The Buyer shall comply with all customs formalities and others, if necessary, for the
   proper taking over of the Equipment from the Seller.
d) Before submitting his offer the Buyer should have inspected the Equipment.

Article 8. Settlement of Dispute

1. If any dispute, controversy or difference of any kind shall arise between the Seller and the
   Buyer in connection with this Contract or its breach thereof, the parties shall seek to
   resolve any such dispute, controversy or difference by mutual consultation.

2. If the parties fail to resolve such dispute, controversy or difference by mutual consent,
   each party shall give the other a written, formal notice specifying its nature, the points
   which represent an issue and the party’s intent to refer the dispute to arbitration.

   If the parties fail to resolve such dispute, controversy or difference by further consultation
   within a period of 30 days from the date upon which such notice of dispute has been
   given, the dispute, controversy or difference shall be referred to and finally settled by
   arbitration in Sofia, Bulgaria under the rules of Conciliation and Arbitration of the
   International Chamber of Commerce (ICC) by one or more arbitrators appointed under
   such rules. The award of the arbitrator(s) shall be final and binding for the parties.

   Article 9. Risk and Loss

   Any risk, loss, injury or destruction of any system, from any cause whatsoever shall pass
   to the Buyer upon the commencement of the dismantling of the Equipment by the Buyer.

   Article 10. Force Majeure
  If either party is unable to carry out its obligations under this Contract because of Force
  Majeure (as defined below) the parties agree to suspend performance until the event
  creating the Force Majeure. Neither party shall be liable for any loss or damage by reason
  of such failure or delay in performance caused by the Force Majeure.

  Article 11.Applicable Laws

  The Contract shall be interpreted in accordance with the laws of the Republic of Bulgaria.

 Article 12.Original Copies

  The contract is written in two original copies – one copy for the Buyer and the other one
  for the Seller.

SELLER                                                   BUYER

…………………                                                  …………………….


Description: The subject of the contract is used construction equipment and machinery available for sale. This sales agreement points out all responsibilities of both - buyer and seller.