ON BUYER’S COMPANY LETTERHEAD

COMPANY NAME
COMPANY ADDRESS
TEL/FAX:
MOBILE NOS:

Date: 14-July-2020
Spartan Group (HQ)
19 Libertas Avenue
Tableview 7441, Cape Town
South Africa

Spartan Group Ltd. Kenya

PO Box 25121-00603, Nairobi, Kenya.
Tel: +254 723424151

Dear Sir,
RE: LETTER OF INTENT:

We [Company Name], represented by: [Representative’s Name and Title] hereby state and represent, that
it is our corporate intention to purchase the following commodity in the quantity and for the price as specified
in the terms and conditions as stated below.

This representation is made with the full corporate authority of [Company Name].

Commodity: (SPECIFY TYPE) White Rice Grade A 5% or 25% broken

Origin: Thailand/Vietnam/Brazil
Quantity: 250,000 bags or 12,500 MT min quantity
Packaging: 50kg bags
Destination: CIF, specify destination.
Delivery Time: Within 30Days
Payment Terms: Operative, Transferable, Irrevocable, Divisible, Assignable,
Unconditional, Confirmed BANK GUARANTEE (BG) or STANDBY LC
(SBLC), for the value of 12,500MT. Payable 100% 30 Days after arrival at
the destination port
Our banking details are as follows:

BANK NAME:
BANK ADDRESS:
TELEPHONE:
SWIFT CODE:
EMAIL:
ACCOUNT NUMBER:
BANK OFFICER:
ACCOUNT NAME:

We hereby authorize you to perform a Soft Probe to validate funds availability. Further to we will submit the
MT799 from our Bank. Please issue us your Proforma invoice, and all other relevant documentation so that
we can execute the BG or SBLC immediately.

Yours Faithfully,
For and on behalf of:
[Company Name]

[Representative’s Name and Title]

cc - File
Procedure:
 BUYER SENDS LOI COMPLETE WITH BANKING DETAILS
 SELLER SENDS FCO
 BUYER SIGNS FCO AND RETURNS AND SENDS MT799 PRE ADVICE BANK TO BANK
 SELLER ISSUES PROFORMA INVOICE.
 BUYER SIGNS AND RETURNS PROFORMA INVOICE.
 BUYER OPENS NON-OPERATIVE DRAFT SBLC/BG
 SELLER CONFIRMS SBLC/BG VERBIABGE
 SELLER ISSUES CONTRACT.
 BUYER REVIEWS, SIGNS AND RETURNS CONTRACT.
 BUYER WITHIN 3 BUSINESS DAYS SENDS OPERATIVE STANDBY LC
 SELLER ISSUES 2% PERFORMANCE BOND
 SHIPMENT COMMENCES