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breach of contract/to break the contract

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to tear up the contract

金融方面
a．开发基金贷款合同
b．政策调整贷款合同
c．出口信用贷款合同
d．商业信用贷款合同
e．基建工程项目贷款合同

Party A: Brainstorming Company Limited, (the employer)
Party B: Jim (the employee)
The duty of Party A: pay the employee at the rate of US ＄3000 per month and, in addition, compensate him for any other expense incurred by him when he is carrying out his duties.
The duty of Party B: agree to carry out the following duties, to negotiate with American authorities about the cooperation between Brainstorming group and business circles of the USA, to arrange for the visits of Steve Wang, president, and other executive to America, to act as authorized representative in any relating to the cooperation with America and to respond to any inquires from China parties．In this employment, the employee shall act honestly, laboriously and to the best of his ability.
Validity of the agreement: on January 1st , 2009.

A: I made a very close study of the draft contract last night.
B: Any questions？
A: Yes．There are a few points which I'd like to bring up．First, the packing．It's stipulated in the contract that all the machine parts should be packed in wooden cases．This can be done with the machine parts, but it's impossible to pack a truck base like that.
B: I see.
A: Second, about the terms of payment．Your draft contract says that payment is to be made by D/P．This is not our practice．We prefer to have the payment made by L/C through a negotiating bank in France.
B: And…
A: And the third point is about arbitration．It's stipulated that arbitration shall take place in China．In all our past contracts signed with you, it was stipulated that arbitration took place in a third country.
B: Yes, that's right.
A: But how is it that this time you wish to have it carried out in China？
B: Shall we take up the matter point by point？
A: That's a good idea.
B: Now, the first point is about packing．We agree to a different packing for the truck.
A: This can easily be done.
B: Second, about terms of payment by L/C.
A: Thank you.
B: As for arbitration, in our dealings with many countries, arbitration is to be carried out in China．The Arbitration Commission of CCPIT enjoys a high prestige among friendly companies．Personally I hope you'll accept this clause．Furthermore, the disputes that have arisen from our business transaction were all settled through friendly consultations．Very rarely was arbitration restored to.
A: I see．OK．The new arbitration clause is acceptable．Is there anything else？
B: As far as the contract stipulations are concerned, there is nothing more．Thank you very much.
A: When should we sign the contract？
B: We'I1 revise the contract this evening, and have it ready to be signed tomorrow morning at ten．How's that？
A: Perfect.