COOPERATIVE REPUBLIC OF GUYANA
COUNTY OF DEMERARA
This CONTRACT FOR SALE is made this 19th day of October 2021 between SHABBY
INC. a company duly incorporated under the Companies Act of Guyana Chapter 89:01
with its registered office situate at 24 Freedom Drive Regents Park in the City of
Georgetown in the County of Demerara in the Cooperative Republic of Guyana
(hereinafter referred to as “the Vendor”) of the One Part and WEBUILD LTD.
Businessman of 34 Chancery Lane in the City of Georgetown in the County of
Demerara in the Cooperative Republic of Guyana (hereinafter referred to as “ the
Purchaser”) of the Other Part.
WHEREAS:
The Seller is the manufacturer/distributor of the following product(s):
CAT excavators, Toyota Trucks and Gas Generators.
AND
The Buyer wishes to purchase the aforementioned product(s).
THEREFORE, the Parties agree as follows:
1.
Sale of Goods. The Seller shall make available for sale and the Buyer shall
purchase Two brand new CAT excavators, four second hand Toyota Trucks of
no more than four years old and ten second hand gas generators. (the
“Goods”).
2. Purchase Price & Payments. The Seller agrees to sell the Goods to the Buyer
for a cost of $20,000.00 per excavator, $15,000.00 for ten gas generators
collectively which sums up to $55,000.00, due upon execution of the contract
and a further $100,000.00 per Toyota Trucks.
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3. For the Toyota Trucks the Seller agrees to provide the Buyer with a payment
plan broken up into four separate payments of $ 100,000.00 over the course
of one year, beginning on January 1, 2022. Each of the payments shall be due
at the end of every quarter of 2022.
4.
Late payments made on the trucks would incur an interest of 12% per day up
to a grace period of 7 days. If payment is not made within the 7 -day period,
Shabby Inc. shall have the right to seize and re-possess all of the trucks. Upon
full payment for the trucks, title/ownership of the trucks shall be transferred
to WeBuild within 14 days.
5. Inspection of Goods & Rejection. The Buyer is entitled to inspect the Goods
upon delivery. If the Goods, especially the second hand ones are not of good
quality and cannot be used for the purposes they are being bought for, the
Buyer must reject them at the time of delivery or within five (5) business days
from the date of delivery. If the Buyer holds the right to reject the Goods within
five (5) business days from the date of delivery, the Buyer shall have waived
any right to reject that specific delivery of Goods. In the event the Buyer
rejects the Goods, the Buyer shall allow the Seller a reasonable time to cure
the deficiency or be refunded. A reasonable time period shall be determined
by industry standards for the particular Goods, as well as the Seller and the
Buyer.
6. Delivery. The Seller shall deliver the Goods to the Buyer at WeBuild offices
within 7 days. The Goods shall be deemed delivered when the Buyer has
accepted delivery at the above-referenced location. The delivery cost shall be
determined by Shabby Inc.’s cost
7. Risk of Loss. Risk of loss will be on the Seller until the time when the Buyer
accepts delivery. The Seller shall maintain any and all necessary insurance in
order to insure the Goods against loss at the Seller’s own expense.
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8. Title. Title to the Goods will remain with the Seller until the Buyer accepts
delivery.
9. Legal and Binding Agreement. This Agreement is legal and binding between
the Parties as stated above. This Agreement may be entered into and is legal
and binding both in the Cooperative Republic of Guyana. The Parties each
represent that they have the authority to enter into this Agreement.
10. Governing Law and Jurisdiction. The Parties agree that this Agreement shall
be governed by the laws of Guyana in which both Parties do business.
11. Entire Agreement. The Parties acknowledge and agree that this Agreement
represents the entire agreement between the Parties. In the event that the
Parties desire to change, add, or otherwise modify any terms, they shall do so
in writing to be signed by both Parties.
The Parties agree to the terms and conditions set forth above as demonstrated by
their signatures as follows:
Seller:
Signed: _____________________________________
Name: _____________________________________
Date: _____________________________________
Buyer
Signed: _____________________________________
Name: _____________________________________
Date: _____________________________________
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