The subject matter of this Agreement is the sale by the Seller of the object described below and in the documents attached as Exhibit A (the "object):

Object: Vachetta leather - highest quality and untreated Italian leather

Colour: Brown

Quantity: 100 (one hundred) panels

CLAUSE 2: PRICE AND ADJUSTMENTS

2.1 The Buyer will pay to the Seller for the total quantity requested and for all obligations described on this agreement the full amount of $360,000 CAD (the "Purchase Price") for the Vachetta leather to cover 100 (one hundred) handbags, including any applicable sales tax.

2. 2 The amount indicated above will be monetarily corrected after the expiration of the period of 12 (twelve) months of the signing of the Agreement, applying the Producer Price Index (PPI).

2.3 If the parties understand that the above-mentioned correction index is inadequate, they may, through the Agreement addendum, readjust the value considering external factors, such as: raw and fuel material.

CLAUSE 3: PAYMENT

3.1 The Buyer shall pay the Price for the product as stated in this Agreement, and shall be according to the following schedule:

a. $60,000 paid by the Buyer upon the execution of this agreement.

b. $150,000 upon Buyer's acceptance of all the 100 (one hundred) objects.

c. $150,000 30 net days after the second payment.

3.2 The Price shall be paid by Buyer to Seller by transfer to Seller's Account below:

Bank: RBC Royal Bank

Transit Number: 1234

Financial Institution Number: 003

Account Number: 9475620

3.3 In case of late payment, the Seller will be entitled to receive a fine of 2% (two percent) on the amount in arrears and default interest of 1% (one percent) per month applied pro rata die until the discharge of the amount due.

CLAUSE 4: TAXES

4.1 If there is any change in the tax legislation that results in an increase in the burdens arising from the object of this Agreement, the amounts must be corrected in order to contain such change.

4.2 The SELLER undertakes to issue invoice or the equivalent fiscal document provided for in the legislation, with its respective value and the highlight of the taxes due, being certain that all taxes that are due or that will be due as a result of this Agreement will be on the exclusive account of the taxpayer as defined in the tax rule.

1. According to the above purchase contract, what should be specified in the delivery clauses, buyer and seller obligations?