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General Terms of Trade
Governing Law: Civil Code of the People’s Republic of China and applicable PRC foreign trade regulations
These General Terms of Trade govern all sales, quotation, delivery and commercial transactions between GREX (hereinafter referred to as “the Seller”) and the purchasing client (hereinafter referred to as “the Buyer”). These terms shall be binding unless otherwise explicitly agreed by formal written contracts signed and sealed by both parties, and shall supplement the General Terms of Payment and Quality Warranty General Terms and Conditions of the Seller.
1. Quotation and Contract Formation
All official quotations issued by GREX are non-binding offers subject to final confirmation. A valid sales contract shall be deemed formally concluded only after the Buyer confirms the order and pays the agreed advance payment, or both parties sign a formal written sales contract/PI. Any verbal commitment, informal message or preliminary communication shall not constitute valid contractual obligations of the Seller.
The product specifications, parameters, quantity and delivery scope shall be subject to the final confirmed written contract or official quotation. Any modification of order content shall take effect only with the Seller’s prior written approval.
2. Delivery Terms and Lead Time
The delivery date and production lead time specified in the contract or quotation are for reference only, calculated from the date of receipt of the Buyer’s valid advance payment and confirmed complete technical requirements. The Seller shall arrange production and shipment in accordance with the agreed timeline.
The Seller shall be exempted from delivery delay liability if the delay is caused by the Buyer’s reasons, including but not limited to delayed payment, delayed confirmation of drawings/technical parameters, temporary order modification, failure to provide required cooperation conditions, or other Buyer-side defaults.
Unless otherwise agreed in writing, the standard trade term adopted is FOB (Tianjing Port or Qingdao Port of China) or EXW (Seller’s Factory, China). The division of risks, transportation obligations and expenses shall comply with INCOTERMS latest version and PRC foreign trade rules.
3. Packaging and Marking
The Seller shall adopt standard export packaging suitable for long-distance transportation, loading and unloading, to ensure the intactness of products during normal transportation. Special packaging requirements proposed by the Buyer shall be subject to additional charges and shall be confirmed in writing in advance.
Product packaging, shipping marks and labels shall be made in accordance with international trade standards or the Buyer’s formal written requirements. The Seller shall not be liable for packaging damage caused by violent transportation, improper storage or external force damage after delivery.
4. Risk and Ownership Transfer
The risk of loss, damage or deterioration of the goods shall be transferred from the Seller to the Buyer upon completion of delivery in accordance with the agreed trade terms.
Ownership of the goods shall remain with GREX until the Buyer completes full payment of the contract amount in accordance with PRC Civil Code. The Buyer shall not resell, mortgage, pledge or dispose of the goods in any form before full payment settlement.
5. Inspection and Acceptance
The Buyer shall conduct on-site inspection and acceptance of the quantity, appearance and packaging integrity of the goods within7 working days after receiving the goods. If the Buyer fails to raise any written objection within the aforesaid period, the goods shall be deemed fully accepted with qualified quantity and appearance.
For hidden quality defects that cannot be discovered through preliminary acceptance, the Buyer may file a claim in accordance with the Seller’s Quality Warranty General Terms and Conditions within the valid warranty period. No objection or claim shall be accepted for defects caused by improper use, storage or modification by the Buyer after acceptance.
6. Order Cancellation and Modification
After the contract takes effect, the Buyer shall not unilaterally cancel the order, reduce the order quantity or modify product specifications without the Seller’s written consent. If the Buyer unilaterally terminates or changes the order in breach of contract, the Seller has the right to retain the received advance payment and claim compensation for actual losses incurred in production, material procurement and labor costs.
Any order modification confirmed by both parties in writing shall prevail over the original contract terms, and the resulting cost increase and delivery delay shall be borne by the proposing party.
7. Export and Import Compliance
The Seller shall comply with all applicable laws and regulations of the People’s Republic of China regarding product export, customs declaration and foreign trade. The Buyer shall be solely responsible for complying with the import regulations, customs policies, tax rules and industry access requirements of the destination country.
Any customs detention, penalty, return of goods or loss caused by the Buyer’s failure to complete import formalities, provide correct documents or comply with local regulations shall be borne solely by the Buyer.
8. Confidentiality
Both parties shall keep strictly confidential the contract content, product technical drawings, parameter data, quotation information and commercial transaction details obtained during the cooperation. Neither party shall disclose the above confidential information to any third party without the other party’s written permission during the cooperation period and within 3 years after the termination of cooperation.
9. Force Majeure
Neither party shall be liable for breach of contract for failure to perform contractual obligations due to unforeseeable, unavoidable and insurmountable force majeure events, including but not limited to natural disasters, war, epidemic control, national policy adjustment, customs policy change, and other objective force majeure circumstances recognized by PRC law.
The affected party shall notify the other party in writing within 7 days after the occurrence of force majeure and provide valid certification documents. Both parties shall negotiate to adjust delivery schedule or terminate the contract partially or totally according to the impact of force majeure.
10. Supplementary Provisions
All matters not specified herein shall be governed by theCivil Code of the People’s Republic of China and PRC foreign trade administrative regulations. All disputes arising from trade performance shall be settled by friendly negotiation; if negotiation fails, the dispute shall be submitted to the competent People’s Court at the Seller’s registered address for litigation.
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Phone: +86 (0)186 5644 6016
Email: info@grexmining.com
Last updated June 2026；