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Commodity: Iron Ore, Fe 64.5%
Origin: Brazil Quantity: …………. Metric Ton /Month (min. 500.000 ton) Price: USD …………. CIF per Dry Metric Ton CIF ASWP Duration: Minimum 12 months contract (Can be extended to 36 months by mutual agreement) Loading Port: Santos, , Rio de Janeiro , Brazil Delivery Port : ……………… Packing: Bulk Payment: BG or SBLC for 3 Months supply of product then the monthly shipments will be paid by Swift Wire Transfer TT or RLC on presentation of the shipping documents. All the Payment Instrument Should be From Top 50 World Bank Excluding Chinese Bank. plz find attach herewith the List Of Top 50 World Bank. Inspection: SGS/CIQ/CCIC to determine quality & quantity at the loading port. Only SGS inspection cost to be borne by the SELLER at the loading Port. CIQ/CCIC, if requested by the BUYER, the cost to be borne By the BUYER. Performance Bond: After receiving acceptable payment instrument from Buyer, the Seller will issue a Performance Bond 2% of the value of the Letter Of Credit in the form of Corporate Performance Bond to be issued By seller backed by SBLC.
Specifications: Iron Ore Fe 64.5% (Rejection below Fe 63.5%)
Fe: 64.5% Rejection below: 63.5% Al2O3: 0.7% Rejection above: 2.00% SiO2: 3.0% Rejection above: 4.00% S : 0.007% Max : 0.03% P : 0.05% Max : 0.06% K2O : 0.008% CaO : 0.02% MgO : 0.03% Na2O : 0.005% TiO2 : 0.08% Mn : 0.15% Physical characteristics:0.15mm – 3mm 30% min 3mm - 5mm 60% max 5mm -10mm 10% max Moisture: 8.00% at 105 degrees centigrade Procedures: 1. The buyers submit an ICPO in the format supplied by the sellers along with the Bank Letter as per the Below format .The Seller issues full corporate offer (FCO) to the Buyer. 2. The buyers counter signs the FCO and return it to seller with BCL. 3. The seller's issues draft contract to buyer for comments and acceptance. The buyer signs and returns the draft contract showing all amendments required and adds full banking coordinates. 4. The seller amends where necessary the hard copy contract, signs, seals and issues to the buyer for his completion, the buyer signs the hard copy contract and return it to the seller. Any facsimile copy shall be considered as the original. 5. Within three (3) International banking days of signing the contract, buyer's bank shall issue a pre-advice by swift of Payment Instrument (SBLC, BG, and RLC) and if appropriate include the name of provider of AVAL. 6. Within seven ( 7 ) International banking days of receipt of pre-advice as required above to the full satisfaction of seller and seller's bank, seller's bank shall transmit by swift, Bank to Bank proof of product capability (POPC) as per specifications supplied. 7. Within three (3) international banking days the buyer's bank will issue fully operative financial instrument (SBLC, BG, and RLC) as per pre-advice clause 5 above. 8. Within three (3) International banking days the seller's bank will issue fully operative Performance Bond for 2% of the value financial instrument as per clause 7 above. 9. Delivery and shipment commence as per the terms and conditions of the contract.
This soft offer is only valid for Till ……………….. and subject to confirmation by the end seller upon receiving: 1. Complete valid ICPO from the end buyer no later than 2 days, as per our sample.
2. Confirmation letter from the buyer's bank to confirm that the bank can and will open a BG or SBLC. Format Of the Bank Letter Is as Below . Payment term and working procedures are not negotiable.
On Bank Letter Head (BCL) . We...........(Bank Name & Address )...........the undersigned, hereby open our Irrevocable, Transferable, Unencumbered , Unconditional , Divisible, Assignable and Confirmable Bank Guarantee due one year and forty five days from the date of issue . The Said Bank Guarantee is for 3 Months Procurement of Brazilian Iron Ore Grade Fe : 64.5% , Quantity……………. MT Per Month with a Price of USD ……… Per MT, CIF, .......... AWPS
Total Value Of Bank Guarantee is USD …………………….. ( ……………………………… US Dollars) . We Further Confirm that My Client ....... ( Buyers' Name & Address...) has Sufficient Fund to Buy Brazilian Iron Ore Grade Fe : 64.5% , Quantity : 000.000 MT Per Month with a Price of USD 000. 00 PMT, CIF, ASWP , for ……….months
( Bank Officer Name / Designation with Official Stamp & Signature