party a:______________ party b:______________
contract no
date:_________________
signed at:____________
witnesses that the party a for considerations hereinafter named contracts and agrees with the party b that party a will within_____ days next following the date hereof build and finish a libarary building for party b ( the building hereinafter is referred to as the said building) the said building is of the following dimensions with reinforced concrete brick stones and other materials as are described in plans and specifications gereto annexed
in consideration of the foregoing party b shall for itself and its legal representatives promise to pay party a the sum of one million rmb yuan in manner as follows to wit:
rmb_____at the beginning of the said work
rmb_____on _____ __________( for example: 321XX)
rmb_____ on_____ __________
rmb_____ on_____ __________
rmb_____ on_____ __________
and the remaining sum will be paid upon the completion of the work
it is further agreed that in order to be entitled to the said payments ( the first one excepted which is otherwise secured ) party a or its legal representatives shall according to the architect''s appraisement have expended in labor and material the value of the payments already received by party a on the building at the time of payment
for failure to accomplish the faithful performance of the agreement aforesaid the party so failing agrees to forfeit and pay to the other_____rmb yuan as fixed and settled damages within one month form the time so failing
in witness whereof we have hereunto set our hands and seals the day and year first above written
signed sealed and delivered
party a :______________ party b:_______________
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