All payments by MAXWELL shall be made in US dollars without any set off, deduction or withholding of any kind, unless required by applicable law. Payment shall be made by direct transfer to the bank account stipulated by KAIFA. MAXWELL shall bear its own bank charges. Payment is due net 30 days after the invoice date. Blanket Purchase Orders will remain valid for three (3) months from the date of issuance. The local logistic cost for Consigned Electrode to and from KAIFA’s factory once the Consigned Electrode has been delivered to KAIFA’s Hong Kong Container terminal by Maxwell, for both receipt and delivery, is inclusive in the pricing and shall be borne by KAIFA supply chain management.