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Delivery and Payment Of Commodities and Logistic Support

Article 30 The delivery and payment of commodities refers to the process in which the seller delivers the commodities and the buyer pays for the commodities strictly according to the trading contract. 

Article 31 The delivery and payment of commodities can be done by the trading parties directly or via the Sinoruex. Sinoruex should designate several warehouses for providing storage services to members and be responsible for commodity inspection. The trading parties may complete the delivery and payment of commodities at one of the designated warehouses or at a non-designated place based on mutual agreement.

Article 32 Sinoruex monitors the delivery and payment of commodities by the members. While highly graded members may settle payments directly, other members must settle payments through Sinoruex.

Article 33 The buyer shall pay for the commodities according to the contract whereas the seller shall provide related bills and documents according to the contract and assume full legal responsibility for the legitimacy and validity of all the bills and documents provided.

Article 34 If the buyer questions the quality of commodities within the challenge period, the buyer should notify Sinoruex in written form and request the quality or commodity inspection department appointed by Sinoruex to check the quality. The buyer should bear the cost of checking and the checking results should serve as solid evidence for judging whether the commodities meet quality standards or not. If the quality of the commodities is not questioned during the challenge period, the buyer should be deemed as accepting the commodities and Sinoruex would then thaw out the guarantee fund of the seller. The challenge period will be publicized by Sinoruex separately.

Article 35 Sinoruex should set up multiple distribution centers and provide agent services for imported commodities, including customs declaration, submission of commodities for inspection and distribution of commodities for trading parties.

Article 36 The seller shall bear the costs of storage and insurance before the delivery of commodities whereas the buyer shall bear such costs after the delivery of commodities.

 

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