Send us Feedback

Sohu.com (SOHU)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

SOHU » Topics » Article 13 Standards of Quality, Decoration and Equipment

This excerpt taken from the SOHU 10-Q filed May 8, 2007.

Article 13 Standards of Quality, Decoration and Equipment

 

1. The Seller warrants to the Buyer that the house is built with qualified construction materials and components and that the quality of the house meets the construction quality regulations, standards and the requirements of the designing documents that are imposed by the state and the city.

 

2. Both the Seller and the Seller agree as follows:

 

  a) If the air quality of the rooms of the house fails to pass the air inspection of state standards, the Buyer shall have the right to reject the house within     X     days (not more than 60 days) of the delivery of the house. In the case the Buyer reject the house, the Seller shall, within     X     days of the receipt of the notice of rejecting the house, refund the Buyer all the sum already paid by the Buyer, pay to the Buyer an interest of      X     of the sum of refund, remedy all the damages incurred by the Buyer arising therefrom and assume the cost of air inspection.

In the case the Buyer does not reject the house or has taken over and used the house for over X days, the Buyer shall settle the issue in a supplemental agreement.

    X    

 

  b) If the house has already passed the all the inspections conducted by the appropriate agencies such as construction agency, measuring agency, building agency and construction supervisor by the time of hand-over, the Seller shall accompany the Buyer to inspect the house. If there are still other problems, the parties agree to settle the problems in the following     X     manner.

 

  i. The Seller shall correct all the problems and re-deliver the house within     X     days thereafter, assume all the liabilities of overdue hand-over associated therewith and assume the liabilities specified in Article 10.

 

  ii. The Seller shall correct all the problems in accordance with the regulations and standards required by the state or the city within     X     days thereafter, assume all the costs thereof and remedy all the damages incurred by the Buyer arising therefrom.

 

  iii.     X    

 

  c) The Seller shall warrants to the Buyer that the decoration and equipment of the house shall meet the standards as agreed by the parties. If the Seller fails to do so, the Buyer shall be entitled to the right as specified in the following      X    .

 

  i. A damage paid by the Seller twice as the difference between the cost of the decoration and equipment delivered by the Seller and that of the standard ones.

  ii.     X    

 

  iii.     X    

The standard of the decoration and equipment is set out in Exhibit 6.

 

3. In the case of any disputes between the Seller and the Buyer in respect of the construction quality, either Party shall have the right to retain a qualified construction inspection agency to inspect the quality, and both Parties shall give reasonable cooperation to the inspection.

        X        

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki