船舶建造合同 英文

精品文檔精心整理精品文檔可編輯的精品文檔船舶建造合同英文目錄：1、船舶建造合同英文2、船舶建造合同雙語SHIPBUILDINGCONTRACTFORCONSTRUCTIONOFONE(HULLNO.)BETWEENasBUYERandSHIPYARDasSELLERSHIPBUILDINGCONTRACTFORCONSTRUCTIONOFONEDEADWEIGHT(HULLNO.)ThisCONTRACT,enteredintothisdayofbyandbetween,acorporationorganizedandexistingundertheLawsof,havingitsregisteredofficeat(hereinaftercalledthe"Buyer")ononepart;andShipyard,acorporationorganizedandexistingundertheLawsofPeople’sRepublicofChina,havingitsregisteredofficeat,thePeople’sRepublicofChina(hereinaftercalledthe"Seller")WITNESSESInconsiderationofthemutualcovenantscontainedherein,theSelleragreestobuild,launch,equipandcompleteattheSeller’sShipyardandtosellanddelivertotheBuyeraftercompletionandsuccessfultrialone(1)VesselasmorefullydescribedinArticleIhereof,toberegisteredundertheflagofandtheBuyeragreestopurchaseandtakedeliveryoftheaforesaidVesselfromtheSellerandtopayforthesameinaccordancewiththetermsandconditionshereinaftersetforth.ARTICLEIDESCRIPTIONANDCLASS1.DESCRIPTION:TheVesselisametrictonsdeadweight,atdesigneddraftofmeters(hereinaftercalledthe"Vessel")oftheclassdescribedbelow.TheVesselshallhavetheSeller’sHullNo.andshallbeconstructed,equippedandcompletedinaccordancewiththefollowing"Specifications":(1)Specification(DrawingNo.)(2)GeneralArrangement(DrawingNo.)(3)MidshipSection(DrawingNo.)(4)Makerslist(DrawingNo.)AttachedheretoandsignedbyeachofthepartiestotheContract(hereinaftercollectivelycalledthe"Specifications"),makinganintegralparthereof.2.CLASSANDRULESTheVessel,includingitsmachineryandequipment,shallconstructedinaccordancewiththerulesandregulations(hereinaftercalledthe"ClassificationSociety")andshallbedistinguishedintherecordbythesymbolof＋,,,,,andshallalsocomplywiththerulesareregulationsasfullydescribedintheSpecifications.TheSellershallarrangewiththeClassificationSocietyassignarepresentativeorrepresentatives(hereinaftercalledthe"ClassificationSurveyor")totheSeller’sShipyardforsupervisionoftheconstructionoftheVessel.AllfeesandchargesincidentaltoClassificationandtocomplywiththerules,regulationandrequirementsofthisContractasdescribedintheSpecificationsissueduptothedateofthisContractaswellasroyalties,ifany,payableonaccountoftheconstructionoftheVesselshallbefortheaccountoftheSeller,exceptasotherwiseprovidedandagreedherein.Thekeyplans,materialsandworkmanshipenteringintotheconstructionofVesselshallatalltimesbesubjecttoinspectionsandtestsinaccordancewiththerulesandregulationsoftheClassificationSociety.DecisionsoftheClassificationSocietyastocomplianceornoncompliancewithClassificationrulesandregulationsshallbefinalandbindinguponthepartieshereto.3.PRINCIPALPARTICULARSANDDIMENSIONSOFTHEVESSEL(a)Hull:Lengthoverallabt:.mLengthbetweenperpendiculars.mBreadth.mDepth.mDesignDraft.m(b)PropellingMachineryTheVesselshallbeequipped,inaccordancewiththeSpecifications,withtypeMainEngine.4.GUARANTEEDSPEEDTheSellerguaranteesthatthetrialspeed,aftercorrection,istobenotlessthannauticalmilesperhourontheloadedconditionstipulatedintheSpecification.Thetrialspeedshallbecorrectedforwindspeedandshallowwatereffect.ThecorrectionmethodofthespeedshallbespecifiedintheSpecifications.5.GUARANTEEDFULECONSUMPTIONTheSellerguaranteesthatthefueloilconsumptionsoftheMainEngineisnottoexceedgrams/brakehorsepower/houratnormalcontinuousoutputatshoptrialbasedondieselfueloilhavingalowercalorificvalueof,kilocaloriesperkilogram.6.GUARANTEEDDEADWEIGHTTheSellerguaranteesthattheVESSEListohaveadeadweightofnotlessthan,metrictonsatthedesignedloadeddraftofmetersinseawaterof1.025specificgravity.Theterm,"Deadweight",asusedinthisContract,shallbeasdefinedintheSpecifications.TheactualdeadweightoftheVesselexpressedinmetrictonsshallbebasedoncalculationsmadebytheSellerandcheckedbytheBuyer,andallmeasurementsnecessaryforsuchcalculationsshallbeperformedinthepresenceoftheBuyer’ssupervisor(s)orthepartyauthorizedbytheBuyer.ShouldtherebeanydisputebetweentheSellerandtheBuyerandtheBuyerinsuchcalculationsand/ormeasurements,thedecisionoftheClassificationSocietyshallfinal.7.SUBCONTRACT:TheSellermay,atitssolediscretionandresponsibility,subcontractanyportionoftheconstructionworkoftheVesseltoexperiencedsubcontractors,butdeliveryandfinalassemblyintotheVesselofanysuchworksubcontractedshallbeattheSeller’sShipyard.TheSellershallremainresponsibleforsuchsubcontractedwork.8.REGISTRATION:TheVesselshallberegisteredbytheBuyeratitsowncostandexpenseunderthelawsofatthetimeofdeliveryandacceptancethereof.ARTICLEICONTRACTPRICE&TREMSOFPAYMENT1.CONTRACTPRICE:ThepurchasepriceoftheVessel/7isUnitedStatesDollars(US$),netreceivablebytheSeller(hereinaftercalledthe"ContractPrice"),whichisexclusiveofthecostfortheBuyer’sSuppliesasprovidedinArticleVhereof,andshallbesubjecttoupwardordownwardadjustment,ifany,ashereinaftersetforthinthisContract.2.CURRENCY:AnyandallpaymentsbytheBuyertotheSellerunderthisContractshallbemadeinUnitedStatesDollars.3.TERMSOFPAYMENT:TheContractPriceshallbepaidbytheBuyertotheSellerininstallmentsasfollows:(a)1stInstallment:ThesumofUnitedStatesDollars(US$),representingpercent(%)oftheContractPrice,shallbecomedueandpayableandbepaidbytheBuyerconcurrentlywiththiscontractbeingsingedandprovidedthatSellershallhavesubmittedtotheBuyertheRefundGuaranteeintheformannexedheretoasExhibit"A"issuedbyBankofChina,Beijing,thePeople’sRepublicofChina,andprovidedfurtherthattheSellershallhavereceivedthefirstclassinternationalbank’sLetterofGuaranteeinaccordancewithParagraph6ofthisArticle.(b)2ndInstallment:ThesumofUnitedStatesDollars(US$),representingpercent(%)oftheContractPrice,shallbecomedueandpayableandbepaidwithinthree(3)bankbusinessdaysafterthecuttingofthefirststeelplateoftheVesselintheSeller’sworkshop.TheSellershallnotifywithatelexortelefaxnoticetotheBuyerstatingthatthe1ststeelplatehasbeencutinitsworkshopanddemandforpaymentoftheinstallmentassoonasthecuttingofthesteelismade.(c)3rdInstallment:ThesumofUnitedStatesDollars(US$),representingpercent(%)oftheContractPrice,shallbecomedueandpayableandbepaidwithinthree(3)bankbusinessdaysafterkeel-layingofthefirstsectionoftheVessel.Thekeel-layingshallbenotifiedbytheSellerwithatelexortelefaxnoticetotheBuyerstatingthatthesaidkeel-layinghasbeencarriedout.TheSellershallsendtotheBuyeratelexortelefaxdemandforpaymentofthisinstallmentassoonasthekeel-layingiscarriedout.(d)4thInstallment:ThesumofUnitedStatesDollars(US$),representingpercent(%)oftheContractPrice,shallbecomedueandpayableandbepaidwithinthree(3)bankbusinessdaysafterlaunchingoftheVessel.ThelaunchingoftheVesselshallbenotifiedbytheSellerwithatelexortelefaxnoticetotheBuyerstatingthatthelaunchingoftheVesselhasbeencarriedout.TheSellershallsendtotheBuyeratelexortelefaxdemandforpaymentofthisinstallmentassoonastheVesselislaunched.(e)5thInstallment(PaymentuponDeliveryoftheVessel):ThesumofUnitedStatesDollars(US$),representingpercent(%)oftheContractPriceplusanyincreaseorminusanydecreaseduetomodificationsand/oradjustmentsoftheContractPriceinaccordancewithprovisionsoftherelevantArticlehereof,shallbecomedueandpayableandbepaidbytheBuyertotheSellerconcurrentlywithdeliveryoftheVessel.TheSellershallsendtotheBuyeratelexortelefaxdemandforthisinstallmentten(10)dayspriortothescheduleddateofdeliveryoftheVessel.4.METHODOFPAYMENT(a)1stInstallment:TheBuyershallremittheamountofthisinstallmentinaccordancewithArticleⅡ,Paragraph3(a)bytelegraphictransfertothereceivingbanknominatedbytheSeller,forcredittotheaccountoftheSeller,orthroughotherreceivingbanknominatedbytheSeller.(b)2ndInstallment:TheBuyershallremittheamountofthisinstallmentinaccordancewithArticleⅡ,Paragraph3(a)bytelegraphictransfertothereceivingbanknominatedbytheSeller,forcredittotheaccountoftheSeller,orthroughotherreceivingbanktobenominatedbytheSellerfromtimetotimeandsuchnominationshallbenotifiedtotheBuyeratleast10dayspriortotheduedateforpayment.(c)3rdInstallment:TheBuyershallremittheamountofthisinstallmentinaccordancewithArticleⅡ,Paragraph3(a)bytelegraphictransfertothereceivingbanknominatedbytheSeller,forcredittotheaccountoftheSeller,orthroughotherreceivingbanktobenominatedbytheSellerfromtimetotimeandsuchnominationshallbenotifiedtotheBuyeratleast10dayspriortotheduedateforpayment.(d)4thInstallment:TheBuyershallremittheamountofthisinstallmentinaccordancewithArticleⅡ,Paragraph3(a)bytelegraphictransfertothereceivingbanknominatedbytheSeller,forcredittotheaccountoftheSeller,orthroughotherreceivingbanktobenominatedbytheSellerfromtimetotimeandsuchnominationshallbenotifiedtotheBuyeratleast10dayspriortotheduedateforpayment.(e)5thInstallment(PayableupondeliveryoftheVessel):TheBuyershall,atleastthree(3)bankbusinessdayspriortothescheduleddateofdeliveryoftheVessel,makeanirrevocablecashdepositinthenameoftheBuyerwiththebanknominatedbytheSeller,foraperiodofthirty(30)daysandcoveringtheamountofthisinstallment(asadjustedinaccordancewiththeprovisionsofthisContract),withanirrevocableinstructionthatthesaidamountshallbereleasedtotheSelleragainstpresentationbytheSellertothesaidBank,ofacopyoftheProtocolofDeliveryandAcceptancesignedbytheBuyer’sauthorizedrepresentativeandtheSeller.Interest,ifany,accruedfromsuchdeposit,shallbeforthebenefitoftheBuyer.IfthedeliveryoftheVesselisnotaffectedonorbeforetheexpiryoftheaforesaid30daysdepositperiod,theBuyershallhavetherighttowithdrawthesaiddepositplusaccruedinterestupontheexpirydate.However,whenthenewscheduledDeliveryDateisnotifiedtotheBuyerbytheSeller,theBuyershallmakethecashdepositinaccordancewiththesametermsandconditionsassetoutabove.5.PREPAYMENT:TheBuyershallhavetherighttomakeprepaymentofanyandallinstallmentsbeforedeliveryoftheVessel,bygivingtotheSelleratleastthirty(30)dayspriorwrittennotice,withoutanypriceadjustmentoftheVesselforsuchprepayment.6.SECURITYFORPAYMENTOFINSTALLMENTSBEFOREDELIVERY:TheBuyershall,concurrentlywhenthisContractbeingsigned,delivertotheSelleranirrevocableandunconditionalLetterofGuaranteeintheformannexedheretoasExhibit"B"infavoroftheSellerissuedbyafirstclassinternationalbank(hereinaftercalledthe"Guarantor")acceptabletoBankofChinaandtheSeller.ThisguaranteeshallsecuretheBuyer’sObligationforthePaymentofall2nd,3rdand4thinstallmentsoftheContractPrice.7.REFUNDSAllpaymentsmadebytheBuyerpriortodeliveryoftheVesselshallbeinthenatureofadvancetotheSeller,andintheeventthisContractisrescindedorcanceledbytheBuyer,allinaccordancewiththespecifictermsofthisContractpermittingsuchrescissionorcancellation,theSellershallrefundtotheBuyerinUnitedStatesDollarsthefullamountofallsumsalreadypaidbytheBuyertotheSellerunderthisContract,togetherwithinterest(attheratesetoutinrespectiveprovisionthereof)fromtherespectivepaymentdate(s)tothedateofremittancebytelegraphictransferofsuchrefundtotheaccountspecifiedbytheBuyer.AssecuritytotheBuyer,theSellershalldelivertotheBuyer,concurrentlywiththisContractbeingsigned,aRefundGuaranteetobeissuedbytheBankofChina,HeadOffice,BankingDepartment,Beijing,thePeople’sRepublicofChinaintheformasperExhibit"A"annexedhereto.However,intheeventofanydisputebetweentheSellerandtheBuyerwithregardtotheSeller’sobligationtorepaytheinstallmentorinstallmentspaidbytheBuyerandtotheBuyer’srighttodemandpaymentfromBankofChina,HeadOffice,underits,guarantee,andsuchdisputeissubmittedeitherbytheSellerorbytheBuyerforarbitrationinaccordancewithArticleⅧhereoforforappealorappealsinaccordancewiththeEnglishlaws,BankofChinashallwithholdanddeferpaymentuntilthearbitrationawardbetweentheSellerandtheBuyerispublished.BankofChinashallnotbeobligatedtomakeanypaymentunlessthearbitrationawardorderstheSellertomakerepaymentandanyrightofappealavailabletotheSellerunderEnglishlawsiswaivedorisnotexercisedbytheSellerinaccordancewithEnglishlaws.IftheSellerfailstohonortheawardorjudgment,thenBankofChinashallrefundtotheextentthearbitrationaward(oranycourtjudgment)orders.ARTICLEⅢADJUSTMENTOFTHECONTRACTPRICETheContractPriceofVesselshallbesubjecttoadjustmentsashereinaftersetforth.ItisherebyunderstoodbybothpartiesthatanyreductionoftheContractPriceisbywayofliquidateddamagesandnotbywayofpenalty.1.DELIVERY(a)Noadjustmentshallbemade,andtheContractPriceshallremainunchangedforthefirstthirty(30)daysofdelayindeliveryoftheVesselbeyondtheDeliveryDateasdefinedinArticleⅦhereof,then,insuchevent,beginningattwelveo’clockmidnightofthethirtiethdayafterthedateonwhichdeliveryisrequiredunderthisContract,theContractPriceoftheVesselshallbereducedbydeductingtherefromthesumofUnitedStatesDollars(US$)perday.Unlessthepartiesheretoagreeotherwise,thetotalreductionintheContractPriceshallbedeductedfromthefifthinstallmentoftheContractPriceandinanyevent(includingtheeventthattheBuyerconsentstotaketheVesselatthelaterdeliverydateaftertheexpirationofdaysdelayofdeliveryasdescribedinParagraph1(c)ofthisArticle)shallnotbemorethanonehundredand()daysattheabovespecifiedrateofreductionafterthethirty(30)daysallowance,thatisUnitedStatesDollars(US$)beingthemaximum.(c)IfthedelayinthedeliveryoftheVesselcontinueforaperiodof()days(beingthetotalofnon-permissibledelaysandpermissibledelays)aftertheDeliveryDateasdefinedinArticleⅦ,theninsuchevent,theBuyermay,atitsoption,rescindorcancelthisContractinaccordancewiththeprovisionsofArticleXofthisContract.TheSellermayatanytimeaftertheexpirationoftheaforementioned()days,iftheBuyerhasnotservednoticeofcancellationpursuanttoArticleX,notifytheBuyerofthedateuponwhichtheSellerestimatetheVesselwillbereadyfordeliveryanddemandinwritingthattheBuyermakeanelection,inwhichcasetheBuyershall,withinthirty(30)daysaftersuchdemandisreceivedbytheBuyer,eithernotifytheSellerofitsdecisiontocancelthisContract,orconsenttotakedeliveryoftheVesselatanagreedfuturedate,itbeingunderstoodandagreedbythepartiesheretothat,iftheVesselisnotdeliveredbysuchfuturedate,theBuyershallhavethesamerightofcancellationuponthesameterms,ashereinaboveprovided.(d)ForthepurposeofthisArticle,thedeliveryoftheVesselshallnotbedeemeddelayedandtheContractPriceshallnotbereducedwhenandiftheDeliveryDateoftheVesselisextendedbyreasonofcausesandprovisionsofArticleⅤ,Ⅵ,Ⅺ,ⅫandⅩⅢhereof.TheContractPriceshallnotbeadjustedorreducedifthedeliveryoftheVesselisdelayedbyreasonofpermissibledelaysasdefinedinArticleⅩⅢhereof.(e)IftheSellernotifiestheBuyerbytelexthatthedeliveryoftheVesselshallbemadeearlierthanthespecifiedDeliveryDateasdefinedinArticleⅦoftheContractandsuchnotificationbeinggivennotlessthan()monthspriortothenewlyplanneddeliverydate,becertainamountofbonusshallbegivenbytheBuyertotheSellerasfollows:Intheeventthatthedeliveryshallbemadewithinfifteen(15)daysearlierthanthespecifiedDeliveryDatetheContractPriceshallremainunchanged.Intheeventthatthedeliveryshallbemademorethanfifteen(15)daysearlierthanthespecifiedDeliveryDate,thenabonusshallbeaddedtotheContractPriceatarateofUnitedStatesDollars(US$)perdayforeachfulldayearlierthanthe15thdayearlierthantheDeliveryDate.ThetotalincreaseoftheContractPricefortheearlierdeliveryshallbeaddedtothefifthinstallmentoftheContractPrice,however,shallnotbemorethanthesumofUnitedStatesDollars(US$).ForthepurposeofdeterminingtheincreaseoftheContractPriceunderthisParagraph1(e),theSellershallnotbeentitledtobebonuscontemplatedunderParagraph1(e)ofthisArticlefortheperiodbetweentheDeliveryDatedefinedinArticleⅦandthedatetowhichthedeliveryoftheVesselisextendedbyreasonofthepermissibledelays.(f)IntheeventthattheSellerisunabletodelivertheVesselonthenewlyplanneddeliverydateasdeclared,theVesselcan,nevertheless,bedeliveredbytheSelleratadateaftersuchdeclarednewlyplanneddate.Insuchcircumstances,andforthepurposeofdeterminingtheliquidateddamagestotheBuyer(accordingtotheprovisionsofParagraph1(b)ofthisArticle)andtheBuyer’srighttocancelorrescindthisContract(accordingtotheprovisionsofParagraph1(c)ofthisArticle),thenewlyplanneddeliverydatedeclaredbytheSellershallnotbeinanywaytreatedortakenashavingsubstitutedtheoriginalDeliveryDateasdefinedinArticleⅦ.TheBuyer’saforesaidrightforliquidateddamagesandtocancelorrescindthisContractshallbeaccrued,operatedorexercisedonlytotheextentasdescribedinParagraph1(a),1(b)and/or1(c)ofArticleⅢ.Inwhatevercircumstance,theDeliveryDateasdefinedinArticleⅦ(notthenewlyplanneddeliverydateasdeclaredbytheSeller),shallbeusedtoregulate,assodescribedinParagraph1(a),1(b)and/or1(c)ofArticleⅢ,theBuyer’srightforliquidateddamagesandtorescindthisContractandtheSeller’sliabilitytopaytheaforesaidliquidateddamagesresultingfromthedelayindeliveryoftheVessel.IftheVesselisactuallydeliveredonadateafterthenewlyplanneddateasdeclaredbytheSellerbutbeforetheDeliveryDateasdefinedinArticleⅦ,thenabonusshallneverthelessbeaccruedandpaidtotheSellerinaccordancewithParagraph1(e)ofArticleⅢ.2.INSUFFICIENTSPEED(a)TheContractPriceoftheVesselshallnotbeaffectednorchangedbyreasonoftheactualspeed(asdeterminedbytheTrialRunaftercorrectionaccordingtotheSpecifications)beinglessthan0.3ofoneknotbelowtheguaranteedspeedasspecifiedinParagraph4ofArticleIofthisContract.(b)However,commencingwithandincludingadeficiencyof0.3ofoneknotinactualspeed(asdeterminedbytheTrialRunaftercorrectionaccordingtotheSpecifications)belowtheguaranteedasspecifiedinParagraph4,ArticleIofthisContract,theContractPriceshallbereducedasfollows:Incaseofdeficiencyoflessthan0.30knotUS＄Incaseofdeficiencyatorabove0.30butbelow0.40knotUS＄atorabove0.40butbelow0.50knotUS＄atorabove0.50butbelow0.60knotUS＄atorabove0.60butbelow0.70knotUS＄atorabove0.70butbelow0.80knotUS＄atorabove0.80butbelow0.90knotUS＄atorabove0.90butbelow1.00knotUS＄(c)Ifthedeficiencyinactualspeed(asdeterminedbytheTrialRunaftercorrectionaccordingtotheSpecifications)oftheVesselupontheTrialRun,ismorethan1.00knotbelowtheguaranteedspeedofknots,thentheBuyermayatitsoptionrejecttheVesselandrescindthisContractinaccordancewithprovisionofArticleXofthisContract,ormayaccepttheVesselatareductionintheContractPriceasaboveprovided,byUnitedStatesDollarsonly(US＄)beingthemaximum.3.EXCESSIVEFUELCONSUMPTION(a)TheContractPriceoftheVesselshallnotbeaffectednorchangediftheactualfuelconsumptionoftheMainEngine,asdeterminedbyshoptrialinmanufacturer’sworks,aspertheSpecifications,isgreaterthantheguaranteedfuelconsumptionasspecifiedandrequiredundertheprovisionsofthisContractandtheSpecificationsifsuchactualexcessisequaltoorlessthanpercent(%).(b)However,iftheactualfuelconsumptionasdeterminedbyshoptrialisgreaterthanpercent(%)abovetheguaranteedfuelconsumptionthen,theContractPriceshallbereducedbythesumofUnitedStatesDollars(US＄)foreachfullonepercent(1%)increaseinfuelconsumptioninexcessoftheabovesaidpercent(%)(fractionsofonepercenttobeprorated).(c)IfasdeterminedbyshoptrialsuchaccrualfuelconsumptionoftheMainEngineismorethanthepercent(10%)inexcessoftheguaranteedfuelconsumption,i.e.thefuelconsumptionexceedsgram/BHP/hour,theBuyermay,atitsoption,rejecttheVesselandrescindthisContract,inaccordancewiththeprovisionsofArticleXofthisContractormayaccepttheVesselatareductionintheContractPricebyUnitedStatesDollars(US＄)beingthemaximum.4.DEADWEIGHT(a)IntheeventthereisadeficiencyintheactualdeadweightiftheVesseldeterminedasprovidedintheSpecifications,theContractPriceshallnotbedecreasedifsuchdeficiencyis()metrictonsorlessbelowtheguaranteeddeadweightofmetrictonsatassigneddesigneddraft.(b)However,theContractPriceshallbedecreasedbythesumofUnitedStatesDollars(US＄)foreachfullmetrictonofsuchdeficiencybeingmorethan()metrictons.(c)IntheeventthatthereshouldbeadeficiencyintheVessel’sactualdeadweightwhichexceeds()metrictonsbelowtheguaranteeddeadweight,theBuyermay,atitsoption,rejecttheVesselandrescindContractinaccordancewiththeprovisionsofArticleXofthisContract,ormayaccepttheVesselwithreductionintheContractPriceinthemaximumamountofUnitedStatesDollars(US＄).(d)IntheeventthattheactualdeadweightoftheVesselisinexcessoftheguaranteeddeadweightofmetrictonsatassigneddesigneddraft,theContractPriceshallnotbeincreasedforthefirst()metrictonsinexcessoftheguaranteeddeadweightofmetrictons.However,theContractPriceshallbeincreasedbythesumofUnitedStatesDollars(US＄)foreachfullmetrictonoftheexcessbeingmorethan()metrictons.ThetotalincreaseoftheContractPricefortheincreaseofthedeadweightshallbeaddedtothefifthinstallmentoftheContractPrice,however,shallnotbemorethanthesumofUnitedStatesDollars(US＄).5.EFFECTOFRESCISSIONItisexpresslyunderstoodandagreedbythepartiesheretothatinanycaseasstatedherein,iftheBuyerrescindsthisContractpursuanttoanyprovisionunderthisArticle,theBuyer,saveitsrightsandremedysetoutinArticleXhereof,shallnotbeentitledtoanyliquidateddamagesorcompensationwhetherdescribedaboveorotherwise.ARTICLEⅣSUPERVISIONANDINSPECTION1.APPOINTMENTOFTHEBUYER’SSUPERVISORTheBuyershallsendingoodtimetoandmaintainattheSeller’sShipyard,attheBuyer’sowncostandexpense,oneormorerepresentative(s)whoshallbedulyaccreditedinwritingbytheBuyer(suchrepresentative(s)beinghereinaftercollectivelyandindividuallycalledthe"Supervisor")tosuperviseandsurveytheconstructionbytheSelleroftheVessel,herenginesandaccessories.TheSellerherbywarrantsthat,thenecessaryvisafortheSupervisortoenterChinawillbeissuedinordertodemandandwithoutdelayprovidedthattheSupervisormeetswiththerules,regulationsandLawsofthePeople’sRepublicofChina.TheBuyerundertakestogivetheSelleradequatenoticefortheapplicationofvisa.2.APPROVALOFPLANSANDDRAWINGSThepartiesheretoshall,within()daysaftersigningofthisContract,mutuallyagreealistofalltheplansanddrawing,whicharetobesenttotheBuyerforapproval(hereinaftercalled"theList").BeforearrivaloftheSupervisorattheSeller’sShipyard,theplansanddrawingsspecifiedintheListshallbesenttotheBuyer,andtheBuyershall,within()daysafterreceiptthereof(excludingmailingtime),returnsuchplansanddrawingssubmittedbytheSellerwithapprovalorremarks,ifany.ConcurrentlywiththearrivaloftheSupervisorattheSeller’sShipyard,theBuyershallnotifytheSellerinwriting,statingtheauthoritywhichthesaidSupervisorshallhave,withregardtotheSupervisorcan,onbehalfoftheBuyer,approveordisapprove,asthecasemaybe,whichoftheplansanddrawingsspecifiedintheListbutnotyetbeensenttotheBuyer,neverthelessinlinewiththeSupervisor’sauthority.TheSupervisorshall,within()daysafterreceiptthereof,returnthoseplansanddrawingwithapprovalorremarks,ifany.UnlessnotificationisgiventotheSellerbytheSupervisorortheBuyerofapprovalordisapprovalofanyplansanddrawingswithintheabovedesignatedperiodoftimeforeach,case,thesaidplansanddrawingsshallbedeemedtohavebeenautomaticallyapproved.TheplansanddrawingsapprovedbytheBuyerorSupervisorsshallbefinal,andanyalterationthereofshallberegardedasmodificationspecifiedinArticleVofthisContract.3.SUPERVISIONANDINSPECTIONBYTHESUPERVISORThenecessaryinspectionoftheVessel,itsmachinery,equipmentandoutfittingshallbecarriedoutbytheClassificationSociety,and/orinspectionteamoftheSellerthroughouttheentireperiodofconstructioninordertoensurethattheconstructionoftheVesselisdulyperformedinaccordancewiththeContractandSpecifications.TheSuper