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CONTRACT FOR PROJECT INSTALLATION
This Contract for project of installing Main Engine is made on_________, by and between _________ Company Ltd. (here- inafter called Party A) and _________ Company Ltd. (hereinaftercalled Party B).
1.Name of installation work: _________.
2.Location of installation work: Party A#39;s_________in Port A.
3.Scope of installation work: As specified in the drawingsand statement attached.
4.Time limit for completion:
The installation work shall cordinate with the construction of _________ in Party A, and shall be completed, including thetrial run for _________, within _________days after the completion of _________.
5.Total price of installation work:_________U.S. D only.
6.Payment terms of installation work:
First installment:
Party A shall pay to Party B fifteen percent of the total pricefor installation work, i.e._________U.S.D only, when thiscontract comes into effect.
Second installment:
Party A shall pay to Party B fifteen percent of the total pricefor instalatiorn work, i.e_________U. S. D. only, at the commencement of construction installation.
Third installment:
Party A shall pay to Party B ten percent of the total pricefor installation work, i.e._________U. S. D. only, duringthe installation of pipes.
Fourth installment:
Party A shall pay to Party B forty percent of the total pricefor installation work, i.e._________U. S. D. only, at thetime when the main equipment arrives at the site.
Fifth installment:
Party A shall pay to Party B ten percent of the total pricefor installation work,i.e._________U. S. D. only, upon comple - tion of the installation work.
Sixth installment:
Party A shall pay to Party B ten percent of the difference of the price for installation work, i.e._________U. S. D. only, after the work received has been proved qualified.
7.Penalty for default:
In the e
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