6.8 Payment: Within five (5) business days after execution of the Sale Agreement, the awarded Bidder shall pay to THAI an amount equal to 50% (fifty percent) of the total purchase price. Failing of which will cause THAI an absolute right to cancel the sale without any liability.
The remaining balance of 50% (fifty percent) of the total purchase price will be paid to THAI in full at the time of receiving a confirmation from THAI of readiness for delivery provided that the payment will not be later than 3 (three) days after the notification is made by THAI. Failing of which will cause THAI an absolute right to cancel the sale with no liability and the awarded Bidder further agrees that the paid amount of 50% (fifty percent) will be forfeited by THAI without any objection or any claim by the awarded Bidder.
All Payments will be made in U.S. Dollars, if not otherwise agreed in writing.