【正文】 Page No.VI TRIALS 25 1. Notice .................................................................... .. 2526 2. How Conducted .................................................……………………26 3. Trial Load Draft ..................................................……………………26 4. Method of Acceptance or Rejection ....................……………….2627 5. Disposition of Surplus Consumable Stores ........……………………27 6. Effect of Acceptance .............................................………………2728VII DELIVERY 29 1. Time and Place ....................................................…………………..29 2. When and How Effected ....................................…………………….29 3. Documents to be Delivered to the BUYER .........………………..2930 4. Title and Risk ....................................................……………………. 30 5. Removal of VESSEL .......................................………………………31 6. Tender of the VESSEL ......................................…………………….31VIII DELAYS AND EXTENSION OF TIME FOR DELIVERY 32 1. Causes of Delay ...............................................……………………. 32 2. Notice of Delay ..................................................…………………….32 3. Right to Cancel for Excessive Delay ................………………….3233 4. Definition of Permissible Delay .........................……………………..33IX WARRANTY OF QUALITY 34 1. Guarantee of Material and Workmanship ................……………….34 2. Notice of Defects ...............................................……………………34 3. Remedy of Defects ..............................................………………3435 4. Extent of the SELLER39。s supervisor ................ ..19 2. Approval of Plans and Drawings ......................…………………....19 3. Supervision and Inspection by the Supervisor .....……………..1920 4. Liability of the SELLER .....................................……………….2021 5. Salaries and Expenses ........................................………………….21 6. Report of Progress ...........................................…………………….21 7. Replacement of Supervisor .................................………………….21V MODIFICATIONS, CHANGES AND EXTRAS 22 1. How Effected ....................................................…………………….22 2. Changes in Class, etc. .....................................………………....2223 3. Substitution of Materials and/or Equipments ......…………………...23 4. BUYER39。s Obligation to Insure ……………..42XIII DISPUTES AND ARBITRATION 43 1. Proceedings ...................................................……………………43 2. Alternative Arbitration by Agreement ...............…………………..43 3. Notice of Award ................................................………………4344 4. Expenses .........................................................…………………..44 5. Award of Arbitration .........................................…………………..44 6. Entry in Court ...................................................…………………..44 7. Alteration of Delivery Time ...............................…………………..44XIV RIGHT OF ASSIGNMENT 45XV TAXES AND DUTIES 46 1. Taxes ...........................................................……………………. .46 2. Duties ..............................................................………………… ..46XVI PATENTS, TRADEMARKS AND COPYRIGHTS 47XVII NOTICE 4849XVIII EFFECTIVE DATE OF CONTRACT 50XIX INTERPRETATION 5152 1. Law Applicable ................................................…………… ……..51 2. Discrepancies .................................................……………………51 3. Definition ...........................................................…………...…5152Exhibit A: IRREVOCABLE LETTER OF GUARANTEE NO. 5354Exhibit B: IRREVOCABLE LETTER OF GUARANTEE FOR THE 2ND, 3RD AND 4TH INSTALMENTS 5557SHIPBUILDING CONTRACTFOR CONSTRUCTION OF ONE __________________ DEADWEIGHT ___________________________________ (HULL NO. ______)This CONTRACT, entered into this ___ day of _____ by and between ___________________, a corporation organized and existing under the Laws of ____________, having its registered office at _______________ (hereinafter called the BUYER) on one part。s Republic of China, having its registered office at____________________, the People39。s Shipyard for supervision of the construction of the VESSEL.All fees and charges incidental to Classification and to ply with the rules, regulations and requirements of this Contract as described in the Specifications issued up to the date of this Contract as well as royalties, if any, payable on account of the construction of the VESSEL shall be for the account of the SELLER, except as otherwise provided and agreed herein. The key plans, materials and workmanship