Iron Ore Purchase Agreement

PURCHASE – SALE AGREEMENT CONTRACT FOR:
IRON ORE FINES – Fe >65,00% - REJ. Fe <64.00%

CODE: 2021/JC/JMB/JSA/IoF/63-022.
Date: September 24, 2021.
 The BUYER:
COMPANY NAME ____________________
CIF/VAT/REG
LEGAL REPRESENTATIVE
POSITION
ADDRESS
CITY
COUNTRY
TELEPHONE / MOBILE-WHATSAPP
EMAIL
SKYPE
 The SELLER / PROVIDER:

COMPANY NAME
CIF/VAT/REG
LEGAL REPRESENTATIVE
POSITION
ADDRESS
CITY
COUNTRY
TELEPHONE / MOBILE-WHATSAPP
EMAIL
 The VIA of BUYER:

NAME MR. YUTTHAPOL SAIYUD
EMAIL operation@sem-consultantcy.com, Yutthapol-s@sem-consultantcy.com
TELEPHONE / MOBILE-WHATSAPP + 66 820133644 / + 66 820133644
SELLER’S AFFIRMATION:
BUYER’S AFFIRMATION:
“____________________” HEREAFTER REFERRED TO AS “BUYER”, REG. NO. B-91488247, STATES AND CONFIRMS THAT IT IS READY, WILLING AND
ABLE TO PURCHASE IRON ORE FINES Fe >65%, REJ. Fe <62% HEREAFTER REFERRED TO AS “COMMODITY” UNDER THE TERMS AND CONDITIONS OF
THIS SALES AND PURCHASE AGREEMENT, HEREAFTER REFERRED TO AS “AGREEMENT”.
THIS CONTRACT:
IS MADE BY AND BETWEEN THE BUYER AND SELLER WHEREBY THE BUYER AGREES TO BUY AND THE SELLER AGREES TO SELL THE UNDER MENTIONED
GOODS, ON THE TERMS AND CONDITIONS STATED BELOW:
CLAUSE 1: NAME OF COMMODITY:

1.1. NAME: IRON ORE FINES, (MAGNETITE/HEMATITE) Fe >65.00%, REJECTION Fe <62.00%.
1.2. COUNTRY OF ORIGIN: THAILAND.
1.3. PACKING: IN BULK. THE MERCHANDISE WILL BE LOADED DIRECTLY INTO THE WAREHOUSES OF THE CHARTERED VESSEL FOR
TRANSPORT TO THE PORT OF DESTINATION.
1.4. PORT OF LOADING: KOH SI CHANG PORT, CHONBURI THAILAND. Coordinates: 13º 10’ 0.00”N / 100º 40’ 0.00”E.
1.5. PORT OF DESTINATION: LIANYUNGANG/GUANGXI PORT, CHINA. Coordinates: 34º 32’1” N / 119º 9’54” E. AT BUYER OPTIONS.
INCOTERMS 2020.
1.6. PRODUCER:
1.6.2. MINES NAME: “_________________________” INGEMMET CODE: __________________ (1)
“_________________________” INGEMMET CODE: __________________ (2)
“_________________________” INGEMMET CODE: __________________ (3)
1.6.3. NUMBER REGISTRATION:
1.6.5. CONTACT:
EMAIL:
1.6.6. CORDINATES: (1) LATITUDE: _______________ / LONGITUDE: __________________
(2) LATITUDE: _______________ / LONGITUDE: __________________
(3) LATITUDE: _______________ / LONGITUDE: __________________
1.6.7. LOCATED IN: (1) PLACE OF _______________, PROVINCE OF _______________ DEPARTMENT OF ___________ THAILAND.
(2) PLACE OF _______________, PROVINCE OF _______________ DEPARTMENT OF ___________ THAILAND.
(3) PLACE OF _______________, PROVINCE OF _______________ DEPARTMENT OF ___________ THAILAND.
CLAUSE 2: DELIVERY PERIOD AND QUANTITY.
2.1. QUANTITY:
2.1.1. THE FIRST SHIPMENT: 50,000 (+/-5%) METRIC TON (MT) AND,
THE FOLLOWING SHIPMENTS: 100,000 MT (+/-5%) EACH 30 DAYS, BY 36 CONSECUTIVES MONTHS.
2.1.2. IN TOTAL BY: 1 + 36 MONTHS = 3,650,000 (+/-5%) METRIC TON (MT), ACCORDING PLANNING IN ANNEX “A”.
THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,
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2.1.3. EXTENSIONS IN QUANTITIES AND TIMES: THIS AGREEMENT COULD BE EXTENDED UP TO 200,000 MT EACH MONTH AND ALSO UP TO 60 MONTHS,
ACCORDING TO THE INTEREST OF THE SELLER AND THE BUYER.
2.2. TOLERANCE: (+/- 5%), AT SELLER’S OPTION.
2.3. PARTIAL SHIPMENT: NOT ALLOWED.
2.4. LOADING OF 1ST SHIP: FOR THE FIRST SHIPMENT PURPOSE OF 28/35 DAYS SINCE THE SELLER HAS RECEIVED THE DL/C (MT 700/710) ON HIS
BANK, FROM THE BUYER'S BANK, ACCORDING TEXT MODEL ANNEX “C”.
2.4.1. FOR THE FOLLOWING PLANNED SHIPMENTS, THE BUYER WILL ISSUE SBL/C (MT760) WITHIN 7 DAYS AFTER THE ISSUANCE OF THE B/L OF THE FIRST
PREVIOUS SHIPMENT, AND UNTIL IT COMPLETES THE SHIPMENTS PROVIDED IN ANNEX "A" OF THIS CONTRACT, ACCORDING MODEL ANNEX “C1”.
2.5. THE BUYER WILL OPEN THE FINANCIAL INSTRUMENTS INDICATED IN POINTS: 2.4 AND 2.4.1, ALWAYS AFTER RECEIVING THE P / B (2%) FROM THE
SELLER'S BANK ACCORDING TO THE MODEL OF ANNEX "B" OF THIS CONTRACT, AND ACCEPTED BY THE BUYER.
2.6. VESSEL LAYCAN: TENTATIVELY 5-7 DAYS.
2.7. PARTIAL DELIVERIES: NOT ALLOWED.
2.8. CONTRACT PERIOD: 1 + 36 MONTHS, ACCORDING PLANNING IN ANNEX “A”.
2.9. CONTACTS OF THE FORWARDING AGENT OFFICIAL OF THE SELLER and CUSTOMS RESPONSIBLE:
COMPANAY: __________________________________
NAME RESPONSIBLE: MR. _________________________
ADDRESS: _____________________________________________
TEL/MOB: + ____________________ / + _____________________
E-MAIL: ______________________________
2.9.1. THE BUYER WILL CONTACT DIRECTLY TO ORGANIZE ALL THE LOGISTICS, ARRIVAL COORDINATION OF THE VESSEL CHARTERED BY THE SELLER, ETC.
ETC.
CLAUSE 3: SPECIFICATIONS.
3.1. CHEMICAL COMPOSITION (ON DRY BASIS GUARANTEED)
S/N CHEMICAL COMPOSITION GUARANTEED % BY WEIGHT
1 Fe >65.00% basis. Reject below <62.00%
2 SiO2 3.00% < 5.00%
3 Al2O3 1.00% < 1.50%
4 P 0.03% < 0.05%
5 S 0.02% < 0.05%
6 TiO2 0.02% < 0.05%
7 FeO 7.50% < 9.00%
8 Na2O + K2O 0.08% < 0.12%
9 CaO 0.15% < 0.20%
10 MgO 0.05% < 0.10%
11 Mn 0.19% < 0.25%
12 As 0.09% < 0.15%
13 Cu 0.08% < 0.12%
14 Zn 0.03% < 0.06%
15 MOISTURE CONTENT <8.00% Max. (Free Moisture loss at 105 degree Centigrade)
16 PHYSICAL COMPOSITION (ON NATURAL BASIS): 0.1 – 10 mm…….… 90 % MINIMUM.
CLAUSE 4: BASE PRICE.

4.1. CIF: LIANYUNGANG/GUANGXI PORT, CHINA. Coordinates: 34º 32’1” N / 119º 9’54” E. AT BUYER OPTIONS. INCOTERMS 2020.
4.2. BASE Fe >65.00%, REJECTION Fe <62.00%.
S/N COMPOSITION OF EXPLANATIONS AND DETAILS:
THE PRICE PER MT:
EXAMPLE: SMM SHANGHAI, Fe 65%, CLOSED TO SEPTEMBER 17, 2021 CFR: QINGDAO CHINA.
1 USD: 163.13
2 USD: – 32.62 DISCOUNT: SMM -20% in USD/MT.

INCREASE OF 1% Fe ON BASE Fe 65%, UP TO Fe 67% (SMM: 163.13USD/Fe65% =
3 USD: + 5.18
163.13:65 = 2.509 X 2 = 5.18 USD/MT).
4 USD: + 1.20 EXPENSES CUSTOMS CLEARANCE, LOGISTICS, ETC., IN ORIGIN.
USD: 136.89 /DMT, CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
5
A 8% HUMEDITY (AT 105ºC) Coordinates: 34º 32’1” N / 119º 9’54” E. OR AT BUYER OPTIONS. INCOTERMS 2020.
4.3. THE PRICE AND CALCULATION METHOD WILL BE REVIEWED EVERY 4 CONSOLIDATED SHIPMENTS BETWEEN THE BUYER AND THE SELLER.
4.4. THE DL/C (MT700/710) or SBL/C (MT760) WILL BE OPENED USING A BASE PRICE OF US$136.89 PER DMT (+/-5%).
CLAUSE 5: PRICE ADJUSTMENT.

5.1. FOR Fe CONTENT:
5.1.1. THE BASE PRICE REFERRED TO INB CLAUSE 4 SHALL BE ADJUSTED IN ACCORDANCE WITH Fe CONTENT AS FINALLY DETERMINED PURSUANT TO THE
PROVISIONS OF CLAUSE 9 AS FOLLOWS.
5.1.2. THE BASE PRICE SHALL BE INCREASED BY US$ 1.00 PER DMT FOR EACH 1.00% FE ABOVE >63.00 PCT, FRACTION PRO-RATA.
5.1.3. THE BASE PRICE SHALL BE REDUCED BY US$ 1.00 PER DMT FOR EACH 1.00% FE BELOW 63.00 PCT, FRACTION PRO-RATA, ACCORDING CLAUSE 4.
5.1.4. IF Fe CONTENT GOES BELOW <62.00%, THE BUYER RESERVES THE RIGHT TO REJECT THE ENTIRE CARGO, OR ACCEPT THE CARGO BUT THE BASE PRICE
SHALL BE FURTHER DECREASED BY USD 8.00 PER DRY METRIC TON FOR EACH 1% FE BELOW 62.00% FRACTION PRO RATA.
5.2. FOR OTHER ELEMENTS:
5.2.1. FOR EXCESS PHOSPHORUS (P): AT THE RATE OF USD 0.50 PER DMT FOR EACH 0.050% IN EXCESS OF 0.055%, FRACTIONS PRO RATA. THE BUYER HAS
RIGHT TO REJECT THE CARGO IF (P) IS IN EXCESS THAN 0.090%.
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5.2.2. FOR EXCESS SULPHUR (S): AT THE RATE OF USD 0.50 PER DMT FOR EACH 0.050% IN EXCESS OF 0.055%, FRACTIONS PRO RATA. THE BUYER HAS RIGHT
TO REJECT THE CARGO IF (S) IS IN EXCESS THAN 0.100%.
5.2.3. FOR EXCESS SILICA (SI2O): AT THE RATE OF USD 0.50 PER DMT FOR EACH 1.00% IN EXCESS OF 5.100%, FRACTIONS PRO RATA. THE BUYER HAS RIGHT
TO REJECT THE CARGO IF SIO2 IS IN EXCESS THAN 6.000%.
5.2.4. FOR EXCESS ALUMINA (AL2O3): AT THE RATE OF USD 0.50 PER DMT FOR EACH 1% IN EXCESS OF 1.500%, FRACTIONS PRO RATA. THE BUYER HAS
RIGHT TO REJECT THE CARGO IF AL2O3 IS IN EXCESS THAN 1.500%.
5.2.5. IF THE SHIPMENT DOES NOT MEET ANY OF THE CHEMICAL SPECIFICATIONS OTHER THAN FE CONTENT PROVIDED IN CLAUSE 3 AS FINALLY
DETERMINED IN ACCORDANCE WITH THE PROVISIONS OF CLAUSE 9, BUYER HAS THE RIGHT TO REJECT THE CARGO OR RE-NEGOTIATE THE PRICE.
5.3. SIZE PENALTY:
5.3.1. OVERSIZE: US$ 0.50 DMT ON NATURAL BASIS FRACTIONS PRO-RATA SHALL BE APPLIED TO THE QUANTITIES OF IRON ORE SUBSEQUENT TO 11 mm IN
EXCESS OF 10.00%.
5.4. MOISTURE:
5.4.1. IF FREE MOISTURE LOSS AT 105 DEGREES CENTIGRADE AS FINALLY DETERMINED EXCEED THE GUARANTEED MAXIMUM REFERRED TO IN CLAUSE 3,
SELLER SHALL PAY BUYER FULL ACTUAL FREIGHT ATTRIBUTABLE TO MOISTURE OVER 8% FOR IRON ORE. FREIGHT RATE APPLICABLE FOR SUCH WILL
BE USD 5.00 PER DMT.
CLAUSE 6: PAYMENT.
6.1. FOR THE FIRST DELIVERY OF IRON ORE FINES, THE PAYMENT WILL BE WITH DOCUMENTARY LETTER OF CREDIT (MT700/710), IRREVOCABLE, NON-
TRANSFERABLE, AND OPENED BY THE PURCHASER BY BBVA BANK. THIS DL/C WILL BE VALID FOR 60 DAYS, ACCORDING TO TEXT OF ANNEX "C" OF
THIS AGREEMENT.
6.1.1. FOR SUBSEQUENT SHIPMENTS, ACCORDING PLANNING ANNEX “A”, IT WILL BE THE SAME PROCEDURE EXPRESSED IN POINT 2.4.1 OF THIS
AGREEMENT, AND ACCORDING MODEL TEXT ANNEX “C1”.
6.2. PERFORMANCE BOND: THE SELLER AFTER SIGNING THE CONTRACT, WITHIN 5 DAYS, WILL ISSUE A 2% PERFORMANCE BOND UPON THE SIGNING AND
VERIFICATION OF THE CONTRACT AND OF THE BUYER.
6.2.1. THE TEXT OF THE P/B WILL BE IN ACCORDANCE WITH MODEL ANNEX “B”.
6.2.2. FOR SUBSEQUENT SHIPMENTS IN ACCORDING PLANNING ANNEX “A”, THE SELLER ISSUE P/B, WITHIN 7 DAYS FROM THE DATE OF THE B/L OF THE
PREVIOUS SHIPMENT AND FOR 2% OF THE AMOUNT ESTABLISHED IN THE SBL / C (MT760).
6.2.3. THE SELLER MAY REPLACE THE P/B (2% BANK GUARANTEE) BY TT (MT103) CONDITIONAL IN FAVOR OF THE BUYER IN THE BANK INDICATED IN
CLAUSE 17.1 OF THIS COMMERCIAL AGREEMENT.
6.3. LETTER OF CREDIT: UPON NOTICE FROM SELLER’S BANK OF THE ISSUANCE OF OPEN 2% PERFORMANCE BOND, BUYER WILL ISSUE AN IRREVOCABLE
NON-TRANSFERABLE, NON-DIVISIBLE, DOCUMENTARY LETTER OF CREDIT (MT700/710) IN FAVOUR OF THE SELLER FOR AN AMOUNT IN US DOLLARS
SUFFICIENT TO COVER 100% AT SIGHT; DL/C OF THE CIF PORT INDICATED CONTRACT VALUE FOR THE FIRST SHIPMENT AND QUANTITY WITHIN 5
WORKING DAYS.
6.3.1. BUYER WILL ENSURE THAT THE DL/C WILL BE RENEWED OR REPLACED IMMEDIATELY UPON EACH DRAWDOWN MADE FOR PAYMENT OF EACH
CARGO SHIPMENT AFTER RECEIVED THE P/B OF SELLER´S BANK.
6.4. PAYMENT: AGAINST ORIGINAL DOCUMENTS INDICATED IN CLAUSE 7 OF THIS AGREEMENT, BANK TO BANK.
6.4.1. THE WEIGHT CERTIFICATE ISSUED BY CCIC / SGS AT THE CARGO PORT BY SURVEY OF THE DRAFT SHIPMENT TOGETHER WITH THE SAMPLE CERTIFICATE
OF THE PERCENTAGE OF FREE HUMIDITY LOSS AT 105 CENTIGRADE AND GRANOLOMETRY ISSUED BY CCIC / SGS OF THE CARGO BASE THE INVOICE.
CLAUSE 7: DOCUMENTS BY PAYMENT.

DOCUMENTS FOR PAYMENT: (MT103/202).
THE SELLER SHALL PROVIDE THE BUYER THROUGH THE NEGOTIATING BANK WITH THE FOLLOWING ORIGINAL DOCUMENTS:
1) FULL SET OF 3 ORIGINAL AND 3 NON-NEGOTIABLE “CLEAN ON BOARD” BILL OF LADING MADE OUT “TO ORDER”, OR BLANK ENDORSED AND NOTIFY
“AS MENTIONED IN THE DL/C”.
2) COMMERCIAL INVOICE IN (1 ORIGINAL + 4 COPIES) INDICATING THE CONTRACT NUMBER, NAME OF CARRYING VESSEL FOR 100% OF CIF:
LIANYUNGANG/GUANGXI PORT, CHINA. Coordinates: 34º 32’1” N / 119º 9’54” E AT BUYER OPTIONS, INCOTERMS 2020, SHIPMENT VALUE ALONG
WITH PRICE ADJUSTMENT IF ANY AS PER CLAUSE 5 BASED ON THE CERTIFICATE OF QUALITY AND CERTIFICATE OF WEIGHT ISSUED BY SELLER’S
NOMINATED SURVEYOR SGS/CCIC AT LOAD PORT, APPROVED BY BUYER.
3) CERTIFICATE OF QUALITY ISSUED ON THE BASIS OF SAMPLING AND ANALYSIS DONE BY SELLER’S NOMINATED SURVEYOR SGS/CCIC AT LOAD PORT. (1
ORIGINAL + 3 COPIES) TO SHOW ACTUAL RESULT OF THE TEST OF CHEMICAL COMPOSITION, PHYSICAL COMPOSITION AND ALL OTHER TESTS CALLED
FOR IN THIS CONTRACT.
4) CERTIFICATE OF WEIGHT ISSUED AS PER DRAFT SURVEY SELLER’S NOMINATED SURVEYOR SGS/CCIC AT LOAD PORT OF CONTRACTED GOODS (1
ORIGINAL + 3 COPIES).
5) CERTIFICATE OF ORIGIN (1 ORIGINAL + 3 COPIES) ISSUED BY ANY CHAMBER OF COMMERCE AND INDUSTRY IN COUNTRY OF ORIGIN AND DETAILING
LOADED QUANTITY, COMMODITY, CARRYING VESSEL NAME AND BUYER’S NAME.
6) COPY FAX OR E-MAIL ADVISING SHIPMENT ACCORDING TO CLAUSE 12 OF THIS CONTRACT WITHIN 3 WORKING DAYS AFTER B/L EMISSION.
7) INSURANCE POLICY OR CERTIFICATE (1 ORIGINAL + 2 COPIES) TO THE ORDER AND BLANK ENDORSED IN 2 FOLDS FOR THE 110 PERCENT OF THE CIF
VALUE COVERING ALL RISKS INCLUDING ICC, CLAUSE “A” AND OFFICE OR CORRESPONDANT IN DESTINATION.
CLAUSE 8: WEIGHING.
8.1. THE SELLER SHALL AT ITS OWN EXPENSE APPOINT SELLERS NOMINATED SURVEYOR SGS/CCIC TO DETERMINE THE WEIGHT OF SHIPMENT BY DRAFT
SURVEY.
8.1.1. THE WEIGHT OF SHIPMENT AS ASCERTAINED AND CERTIFIED BY SELLERS NOMINATED SURVEYOR SHALL BE BASIS OF THE SELLER’S INVOICE.
8.1.2. THE DRY QUANTITY SHALL BE DETERMINED BY DEDUCTING THE FREE MOISTURE REFERRED TO IN CLAUSE 9 FROM SUCH WET QUANTITY.
8.1.3. BUYER AND SELLER MAY, AT THEIR RESPECTIVE EXPENSES, HAVE THEIR REPRESENTATIVES BE PRESENT AT THE TIME OF SAMPLING AND ANALYSIS AT
THE PORT OF LOADING.
CLAUSE 9: SAMPLING AND ANALYSIS.

9.1. AT THE LOAD PORT, THE SELLER SHALL APPOINT, AT ITS EXPENSE, SELLERS NOMINATED SURVEYOR SGS/CCIC TO DO THE SAMPLING AND ANALYSIS.
SURVEYOR SHALL DETERMINE THE SPECIFICATIONS OF ORE CONTENTS IN EACH SHIPMENT AND SHALL PROVIDE A CERTIFICATE SHOWING DETAILS
OF THE DETERMINATION AND ALSO THE PERCENTAGE OF FREE MOISTURE LOSS AT 105 DEGREES CENTIGRADE. SUCH CERTIFICATES OF ANALYSIS
SHOULD BE FINAL FOR THE PURPOSE OF PROVISIONAL INVOICE.
9.2. BUYER CAN APPOINT ANY OTHER SURVEYORS AS PER THEIR REQUIREMENTS FOR PRE-SHIPMENT/STACK/ INDEPENDENT/JOINT SAMPLING AND
ANALYSIS.
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9.3. BOTH PARTIES ARE AT LIBERTY TO DEPUTE THEIR REPRESENTATIVES AND/OR NOMINATE AGENCY AT THEIR COST TO WITNESS OPERATIONS AT THE
LOAD PORT.
CLAUSE 10: FORCE MAJEURE.

10.1. IF AT ANY TIME DURING THE EXISTENCE OF THIS CONTRACT EITHER PARTY IS UNABLE TO PERFORM WHOLE OR IN PART ANY OBLIGATION UNDER
THIS CONTRACT DUE TO WAR, HOSTILITY, MILITARY OPERATION OF ANY CHARACTER, CIVIL COMMOTION, SABOTAGE, QUARANTINE RESTRICTIONS,
ACTS OF GOVERNMENT, FIRE, FLOODS, EXPLOSIONS, EPIDEMICS, STRIKES OR OTHER LABOUR TROUBLE, EMBARGOES, THEN THE DATE OF
FULFILLMENT OF ANY OBLIGATION SHALL BE POSTPONED DURING THE TIME WHEN SUCH CIRCUMSTANCES ARE OPERATIVE.
10.2. ANY WAIVER/EXTENSION OF TIME IS RESPECT OF THE DELIVERY OF ANY INSTALLMENT OR PART OF THE GOODS SHALL NOT BE DEEMED TO BE
WAIVER/EXTENSION OF TIME IN RESPECT OF THE REMAINING DELIVERIES. IF OPERATION OF SUCH CIRCUMSTANCES EXCEEDS 3(THREE) MONTHS,
EITHER PARTY WILL HAVE THE RIGHTS TO REFUSE FURTHER PERFORMANCE OF THE CONTRACT IN WHICH CASE NEITHER PARTY SHALL HAVE THE
RIGHT TO CLAIM EVENTUAL DAMAGES. THE PARTY WHICH IS UNABLE TO FULFILL ITS OBLIGATIONS UNDER THE PRESENT CONTRACT MUST, WITHIN
15 DAYS OF OCCURRENCE OF ANY OF THE CAUSES MENTIONED IN THIS CONTRACT, SHALL INFORM THE OTHER PARTY OF THE EXISTENCE OF THE
CIRCUMSTANCES PREVENTING THE PERFORMANCE OF THIS CONTRACT. CERTIFICATE ISSUED BY A CHAMBER OF COMMERCE OR ANY OTHER
COMPETENT AUTHORITY CONNECTED WITH THE CAUSE IN THE COUNTRY OF THE SELLER OR THE BUYER SHALL HAVE SUFFICIENT PROOF OF THE
EXISTENCE OF THE ABOVE CIRCUMSTANCES AND THEIR DURATION.
CLAUSE 11: ARBITRATION.

11.1. ALL DISPUTES IN CONNECTION WITH THIS CONTRACT AND THE EXECUTION THEREOF SHALL BE SETTLED BY AMICABLE NEGOTIATIONS AND FRIENDLY
DISCUSSION BETWEEN BOTH PARTIES, IN CASE NO SETTLEMENT CAN BE REACHED, THE CASE UNDER DISPUTE SHALL BE DETERMINED
AND RESOLVED BY ARBITRATION IN G E N È V E , S W I T Z E R L A N D IN ACCORDANCE WITH THE ARBITRATION RULE OF THE CONCILIATION AND
ARBITRATION OF INTERNATIONAL CHAMBER OF COMMERCE IN FORCE AT THE TIME OF ARBITRATION. THE BOARD OF ARBITRATION SHALL BE
COMPOSED OF THREE ARBITRATORS, ONE OF WHOM SHALL BE CHOSEN BY THE SELLER, ONE BY THE BUYER AND THE THIRD BY THE TWO SO
CHOSEN. IF BOTH OR EITHER OF THE PARTIES FAIL TO CHOOSE AN ARBITRATOR WITHIN FOURTEEN (14) DAYS AFTER RECEIVING NOTICE OF
COMMENCEMENT OF ARBITRATION PROCEEDINGS, OR IF THE TWO ARBITRATORS CHOSEN CANNOT AGREE UPON A THIRD ARBITRATOR WITHIN
FOURTEEN (14) DAYS AFTER THEY HAVE BEEN CHOSEN, SAID THIRD ARBITRATOR SHALL BE APPOINTED BY THE INTERNATIONAL CHAMBER OF
COMMERCE. THE DECISION OF THE MAJORITY OF THE ARBITRATORS SHALL BE FINAL AND BINDING ON THE PARTIES HERETO, INCLUDING THE
DECISION AS TO THE ALLOCATION OF THE COST(S) OF SUCH ARBITRATION, AND MAY BE ENTERED IN ANY COURT HAVING JURISDICTION. THE
LANGUAGE OF THE ARBITRATION SHALL BE ENGLISH. THE DECISION MADE BY THE TRIBUNAL SHALL BE FINAL AND BINDING ON BOTH PARTIES.
CLAUSE 12: TITLE AND RISK.

12.1. THE TITLE WITH RESPECT TO EACH SHIPMENT SHALL PASS FROM THE SELLER TO THE BUYER WHEN THE SELLER RECEIVES PAYMENT OF THE GOODS
FROM THE BUYER AGAINST THE SHIPPING DOCUMENT AS SET FORTH IN CLAUSE 7 AFTER COMPLETION OF LOADING ON BOARD THE VESSEL AT THE
LOAD PORT WITH EFFECT RETROSPECTIVE TO THE TIME OF DELIVERY OF THE ORE.
12.2. SELLER WARRANTS THAT AT THE TIME OF DELIVERY IT WILL HAVE GOOD TITLE TO THE PRODUCT AND WILL DELIVER THE PRODUCT TO BUYER FREE
AND CLEAR OF ALL LIENS, CLAIMS AND ENCUMBRANCES ARISING PRIOR TO THE TRANSFER OF TITLE TO BUYER.
12.3. ALL RISK OF LOSS, DAMAGE OR DESTRUCTION RESPECTING THE IRON ORE FINES DELIVERED SHALL PASS TO THE BUYER IMMEDIATELY AFTER CARGO
ARRIVES AT DESTINATION PORT.
12.4. THIS COMMERCIAL AGREEMENT MAY NOT BE TRANSFERRED OR ASSIGNED TO OTHERS, EXCEPT WITH EXPRESS CONSENT BETWEEN THE BUYER AND
THE SELLER, IN WRITING.
CLAUSE 13: AMENDMENT OF CONTRACT.

13.1. ANY AMENDMENT OR REVISION TO THIS CONTRACT SHALL BE MADE IN WRITING AND SUBJECT TO CONFIRMATION BY THE BOTH THE CONTRACTING
PARTIES.
CLAUSE 14: NON-DISCLOSURE AGREEMENT.

14.1. BUYER AND SELLER MUTUALLY AGREE THAT ANY INFORMATION EXCHANGED BETWEEN THE TWO PARTIES IS STRICTLY CONFIDENTIAL. BUYER AND
SELLER MUTUALLY AGREE NOT TO DISSEMINATE ANY INFORMATION OBTAINED FROM EACH OTHER, TO ANY PARTIES OUTSIDE THIS AGREEMENT,
WITHOUT THE EXPRESS WRITTEN PERMISSION FROM THE OTHER PARTY. THIS IS INCLUDING ALL DOCUMENTS, FINANCIAL OR PERFORMANCE
INFORMATION AND TRADE SECRETS RECEIVED DIRECTLY OR INDIRECTLY. BOTH PARTIES AGREE TO BE HELD LIABLE TO ANY AND ALL DAMAGES
RESULTING FROM SUCH ACTION.
14.2. THE RECEIVING PARTY AGREES TO USE THE CONFIDENTIAL INFORMATION SOLELY IN CONNECTION WITH THE CURRENT BUSINESS RELATIONSHIP
BETWEEN THE PARTIES AND NOT FOR ANY OTHER PURPOSE AUTHORIZED BY THIS AGREEMENT. NO RIGHT OR LICENSE TO USE THE INFORMATION
FOR ANY OTHER PURPOSE IS GRANTED TO THE RECEIVING PARTY.
CLAUSE 15: PENALTIES.

15.1. IF THE SELLER DOES NOT ISSUE P / B IN THE PERIOD INDICATED IN POINTS: 6.2; 6.2.1 AND 6.2.2:
15.1.1. THEY WILL PAY 5% OF THE NON-FULFILLED AMOUNT, INDICATED IN ANNEX "A", TO THE BUYER.
15.1.2. IN THAT EVENT THE CONTRACT WILL BE BREACHED AND CANCELED.
15.2. IF THE BUYER WITHIN THE PERIOD INDICATED IN THE POINTS: 6.3 AND 6.3.1:
15.2.1. YOU WILL PAY 5% OF THE NON-FULFILLED AMOUNT, INDICATED IN ANNEX "A", TO THE SELLER.
15.2.2. IN THAT EVENT THE CONTRACT WILL BE BREACHED AND CANCELED.
CLAUSES 16: NOTICES.

16.1. ALL COMMUNICATIONS REFERRED TO IN THIS CONTRACT SHALL BE IN WRITING AND WILL BE SENT BY REGISTERED AIRMAIL AND/OR BY E-MAIL,
CABLE, AND FAX.
CLAUSE 17: BANKING DETAILS:
17.1. BUYER´S:
BANK NAME:
BANK ADDRESS, CITY,
COUNTRY:
BANK SWIFT CODE:
BANK TELEPHONE:
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BANK FAX:
ACCOUNT NAME:
ACCOUNT NUMBER:
BANK OFFICERS NAME:
E-MAIL:
17.2. SELLER’S:
BANK NAME: ________________________________
BANK ADDRESS, CITY,
_______________________________________________________________________
COUNTRY:
BANK SWIFT CODE: ______________
BANK TELEPHONE: + 66 _____________
E-MAIL SECTORIAL: ________________________________
ACCOUNT NAME:
ACCOUNT NUMBER: ___________________
BANK OFFICERS NAME: ________________________________
E-MAIL OFFICER: ________________________________
CLAUSE 18: ACCEPTED AND AGREED WITHOUT CHANGE (EFT) IS VALID AND ACCEPTED AS HAND SIGNATURE:
EDT (ELECTRONIC DOCUMENT TRANSMISSIONS)
18.1. EDT (ELECTRONIC DOCUMENT TRANSMISSIONS) SHALL BE DEEMED VALID AND ENFORCEABLE IN RESPECT OF ANY PROVISIONS OF THIS CONTRACT.
AS APPLICABLE, THIS AGREEMENT SHALL BE:
INCORPORATE U.S. PUBLIC LAW 106-229, ‘‘ELECTRONIC SIGNATURES IN GLOBAL & NATIONAL COMMERCE ACT’’ OR SUCH OTHER APPLICABLE LAW
CONFORMING TO THE UNCITRAL MODEL LAW ON ELECTRONIC SIGNATURES (2001)
18.2. ELECTRONIC COMMERCE AGREEMENT (ECE/TRADE/257, GENEVA, MAY 2000) ADOPTED BY THE UNITED NATIONS CENTRE FOR TRADE FACILITATION
AND ELECTRONIC BUSINESS (UN/CEFACT).
18.3. EDT DOCUMENTS SHALL BE SUBJECT TO EUROPEAN COMMUNITY DIRECTIVE NO. 95/46/EEC, AS APPLICABLE. EITHER PARTY MAY REQUEST HARD
COPY OF ANY DOCUMENT THAT HAS BEEN PREVIOUSLY TRANSMITTED BY ELECTRONIC MEANS PROVIDED HOWEVER, THAT ANY SUCH REQUEST
SHALL IN NO MANNER DELAY THE PARTIES FROM PERFORMING THEIR RESPECTIVE OBLIGATIONS AND DUTIES UNDER EDT INSTRUMENTS.
IN WITNESS WHEREOF THIS CONTRACT IS MADE IN DUPLICATE ON THIS, ________________AND DULY AUTHORIZED REPRESENTATIVES OF THE SELLER AND
BUYER HAVING SIGNED ON THIS DAY, AND RETAINED ON COPIES EACH.
THE PRESENT MERCANTILE AGREEMENT IS WRITTEN IN 20 PAGES, INCLUDING THE APPROPRIATE ANNEXES.
BOTH PARTIES HEREBY CONFIRM AND ACCEPT THAT THE CONTRACT SENT BY EMAIL, ACCEPTED AS AN ORIGINAL.
For and on behalf of SELLER: For and on behalf of BUYER:

SING: SING:
Title: CEO Title: CEO
Page 5 of 20
COPY PASSPORT: COPY PASSPORT:
VERY IMPORTANT NOTE:

SIGNATURES THAT INTERVENE BY EACH PART IN THE REPRESENTATION OF THE -2- INTERVENING COMPANIES, EXPRESSLY (BUYER & SELLER)
ACCEPT THAT THEY HAVE SUFFICIENT REPRESENTATION POWERS IN THIS AGREEMENT AND, AT THE REQUIREMENT OF ANY OF THE PARTIES WILL
HAVE THE OBLIGATION TO DEMONSTRATE IT.
THE SELLER, THE BUYER,
Page 6 of 20
ANNEX “A”
PLAN OF SHIPMENTS EXPECTED FOR: IRON ORE FINES, Fe >65.00% REJ. <62.00%.
SHIPMENTS (1) P/B – USD (2) BY FIRST DELIVERY:
---- DL/C (MT700/710) PORT OF DESTINATION,
---- AT SELLER EXPENSES
MONTH Partial shipments: SELLER: ----
NOT ALLOWED. will be issued after THE FOLLOWING ------
----
(shipments will take
---- The signing of this
DELIVERIES: SELLER SALES in:
No. ANY LOADING PORT: agreement, IN 5
place between the SBL/C (MT760) CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
KOH SI CHANG PORT, CHONBURI BANKING DAYS.
1st and the 30th of Coordinates:
THAILAND. ---- ----
each month)
Coordinates: 13º 10’ 0.00”N / AND FOR THE BUYER: 34º 32’1” N / 119º 9’54” E.
FOLLOWING
100º 40’ 0.00”E. will be issued after receiving INCOTERMS 2020.
INCOTERMS 2020. DELIVERIES. P/B, IN 5 BANKING DAYS.
1 OCTOBER 2021 50,000 MT (+/-5%) 136,890.00 6,844,500.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
2 NOVEMBER 2021 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
3 DECEMBER 2021 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
4 JANUARY 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
5 FEBRUARY 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
6 MARCH 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
7 APRIL 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
8 MAY 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
9 JUNE 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
10 JULY 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
11 AUGUST 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
12 SEPTEMBER 2022 100,000 MT (+/-5%) 273,780.00 13,689,000.00 CIF: LIANYUNGANG/GUANGXI PORT, CHINA.
CIF: LIANYUNGANG/GUANGXI PORT,
TOTAL QUANTITY: 3,650,000 MT (+/-5%) 499,648,500.00
CHINA.
(1) THE QUANTITIES TO SHIP EACH MONTH COULD BE "PARTIAL" WITHIN THE INDICATED MONTH, ACCORDING TO THE LIMITATIONS
OF THE CHARGING PORT, BUT NEVER LESS THAN 50,000 MT (+/- 5%) OF IRON ORE.
(2) THE SELLER WILL ISSUE P/B, ACCORDING TO THE TEXT OF ANNEX "B", or MT 103 CONDITIONAL, ACCORDING POINTS 6.2.3 OF THIS
AGREEMENT.
Page 7 of 20
ANNEX “B”
DRAFT - TEXT: FIEL WARRANTY OF SUPPLY (P/B) TO BE ISSUED BANK OF SELLER FOR THE BUYER, VIA SWIFT, FOR
THE FIRST SHIPPING PROVIDED BY ANNEX "A": (1)
Reference: __________________ (emisor bank)
Contract No.:
TO:
SWIFT CODE:
BENEFICIARY:
WE ARE INFORMED THAT ________________(HEREINAFTER CALLED THE SELLER) HAS ENTERED INTO A CONTRACT WITH YOUR
CLIENT _____________(HEREINAFTER CALLED THE BUYER), DATED SEPTEMBER 24, 2021, TRANSACTIONN CODE/CONTRACT
NUMBER 2021/JC/JMB/JSA/IoF/63-022 FOR THE SUPPLY OF IRON ORE FINES, Fe >65.00% REJ. Fe <62.00%, THAT A
PERFORMANCE GUARANTEE OF TWO (2) PERCENT IS REQUIRED, IN THE SUM OF USD __________
(___________________________ USD) FOR 50,000 MT (+/-5%) PER SHIPMENT. (2)
THEREFORE, WE, BANK __________________, HEREBY ISSUE OUR UNCONDITIONAL, FULL BANK CORPORATE AND
IRREVOCABLE GUARANTEE NUMBER _______________ AND UNDERTAKE TO PAY YOU ANY SUM OR SUMS NOT EXCEEDING IN
AGGREGATE OF USD __________ (________________________ USD) ON RECEIPT BY US OF YOUR FIRST DEMAND IN
WRITING ACCOMPANIED BY YOUR SIGNED DECLARATION STATING THAT THE AMOUNT CLAIMED IS DUE BY REASON OF THE
SELLER HAVING FAILED TO FULFILL HIS OBLIGATION IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE ABOVE
CONTRACT.
OUR GUARANTEE IS VALID UNTIL (91 days of the date emission). ANY CLAIMS MUST BE RECEIVED BY US ON OR
BEFORE THAT DATE, AFTER WHICH OUR LIABILITY TO YOU UNDER OUR GUARANTEE WILL CEASE AND OUR GUARANTEE WILL
BE OF NO FURTHER EFFECT.
THIS P/B IS CONFIRMED.
OUR GUARANTEE IS GOVERNED BY THE LAWS OF URDG758.
---------------------------------------------------------------------------------------------------------------------------- ------------------------------
(1) If the Seller has problems to issue the bank guarantee of "supply guarantee", the Buyer could accept
a TT (MT103) issued by the Seller's bank for the amount that corresponds, according to the planning
indicated in the ANNEX "A".
(2) These PB were adjusted in the amount stated in Annex 'A' of this contract.
Page 8 of 20
ANNEX “C”
FOR THE FIRST SHIPMENT: DRAFT - MT700 / 710 - TO ISSUE THE BANK OF BUYER AFTER RECEIVED THE P/B ISSUED
BY THE SELLER, AS DETAILED IN THE SHIPPING ANNEX "A":
27: SEQ OF TOTAL - ______________
40A: FORM OF DOCUMENTARY CREDIT - IRREVOCABLE / NO-TRANSFERABLE.
20: DOCUMENTARY CREDIT NUMBER - _________________
31C: DATE OF ISSUE - DD / MM / YY
40E: APPLICABLE RULES - UCP LATEST VERSION
31D: DATE AND PLACE OF EXPIRY - DD / MM / YY / SEVILLA, SPAIN
50: APPLICANT -
41: VALIDITY: - 60 DAYS FROM THE DATE OF ISSUANCE
52A: APPLICANT BANK
BANK NAME: -
BANK ADDRESS: -
ACCOUNT NAME: -
ACCOUNT NUMBER: -
SWIFT CODE: -
BANK OFFICER: -
TELEPHONE: -
FAX: -
E-MAIL: -
59: BENEFICIARY NAME AND ADDRESS
NAME: -
ADDRESS: -
57D: BENEFICIARY BANK
BANK NAME: - ___________________________________
BANK ADDRESS: - _________________________________________________________
ACCOUNT NAME: -
ACCOUNT NUMBER: - ______________________
SWIFT CODE: - _________________
BANK OFFICER: - MR. ___________________
TELEPHONE: - + ___________________
E-MAIL SECTORIAL: - __________________________
E-MAIL OFFICER: - ________________________
32B: CURRENCY CODE AMOUNT EUR/USD - USD
39A: PERC. CREDIT AMOUNT TOLERANCES - +/-5%
39B: MAXIMUM CREDIT AMOUNT - US$6,844,500.00 BY 50,000 MT (+/-5%): 1º SHIPMENT
40A: PRICE PER A METRIC TONE - USD 136.89/ DMT.
41A: AVAILABLE WITH... BY... - BBVA BANK BY PAYMENT
42C: DRAWN - A SIGHT FOR MAXIMUM 14 DAYS AFTER RECEIVING THE ORIGINAL DOCUMENTS
PRESENTED, BANK TO BANK.
42D: DRAWEE – NAME - BBVAESMMXXX
43P: PARTIAL SHIPMENTS - NOT ALLOWED
43T: TRANSSHIPMENT - NOT ALLOWED
44A: TAKE CHARGE/RECEIPT/DISP FM - THE BENEFICIARY
44B: FINAL DEST/DELIVER/TRNSP TO - CIF: LIANYUNGANG/GUANGXI PORT, CHINA.AT BUYER OPTION. INCOTERMS 2020.
44C: LATEST DATE OF SHIPMENT - DD/MM/YY (28/30 DAYS FROM THE DATE OF RECEIPT OF DL/C)
44E: PLACE OF LOADING - KOH SI CHANG PORT, CHONBURI THAILAND. INCOTERMS 2020.
44F: PLACE OF DISCHARGE - CIF: LIANYUNGANG/GUANGXI PORT, CHINA.AT BUYER OPTION. INCOTERMS 2020.
45A: DESCRIPTIONS OF GOODS/SERVICES - IRON ORE FINES, Fe >65.00% REJ. Fe <62.00%.
46A: DOCUMENTS REQUIRED:
DOCUMENTS FOR PAYMENT (MT103/202).
THE SELLER SHALL PROVIDE THE BUYER THROUGH THE NEGOTIATING BANK WITH THE FOLLOWING DOCUMENTS:
1) FULL SET OF 3 ORIGINAL AND 3 NON-NEGOTIABLE “CLEAN ON BOARD” BILL OF LADING MADE OUT “TO ORDER”, OR BLANK
ENDORSED AND NOTIFY “AS MENTIONED IN THE DL/C”.
2) COMMERCIAL INVOICE IN (1 ORIGINAL + 3 COPIES) INDICATING THE CONTRACT NUMBER, NAME OF CARRYING VESSEL FOR 100%
OF FOB: ILO PORT, PERU, Coordinates: 17º 38’ 51” S – 71º 20’ 53” O, INCOTERMS 2020, SHIPMENT VALUE ALONG WITH
PRICE ADJUSTMENT IF ANY AS PER CLAUSE 5 BASED ON THE CERTIFICATE OF QUALITY AND CERTIFICATE OF WEIGHT ISSUED
BY SELLER’S NOMINATED SURVEYOR SGS/CCIC AT LOAD PORT, APPROVED BY BUYER.
3) CERTIFICATE OF QUALITY ISSUED ON THE BASIS OF SAMPLING AND ANALYSIS DONE BY SELLER’S NOMINATED SURVEYOR
SGS/CCIC AT LOAD PORT. (1 ORIGINAL + 3 COPIES) TO SHOW ACTUAL RESULT OF THE TEST OF CHEMICAL COMPOSITION,
PHYSICAL COMPOSITION AND ALL OTHER TESTS CALLED FOR IN THIS CONTRACT.
4) CERTIFICATE OF WEIGHT ISSUED AS PER DRAFT SURVEY SELLER’S NOMINATED SURVEYOR SGS/CCIC AT LOAD PORT OF
CONTRACTED GOODS (1 ORIGINAL + 3 COPIES).
5) CERTIFICATE OF ORIGIN (1 ORIGINAL + 3 COPIES) ISSUED BY ANY CHAMBER OF COMMERCE AND INDUSTRY IN COUNTRY OF
ORIGIN AND DETAILING LOADED QUANTITY, COMMODITY, CARRYING VESSEL NAME AND BUYER’S NAME.
6) COPY FAX OR E-MAIL ADVISING SHIPMENT ACCORDING TO CLAUSE 12 OF THIS CONTRACT WITHIN 3 WORKING DAYS AFTER B/L
EMISSION.
7) INSURANCE POLICY OR CERTIFICATE (1 ORIGINAL + 2 COPIES) TO THE ORDER AND BLANK ENDORSED IN 2 FOLDS FOR THE 110
PERCENT OF THE CIF VALUE COVERING ALL RISKS INCLUDING ICC, CLAUSE “A” AND OFFICE OR CORRESPONDANT IN
DESTINATION.
47A: ADDITIONAL CONDITIONS
1. DOCUMENTS BEARING A DATE PRIOR TO THE ISSUING OF THIS LETTER OF CREDIT ARE NOT ACCEPTABLE.
2. THIRD PARTY DOCUMENTS ARE ACCEPTABLE.
3. INVOICE EXCEEDING THIS CREDIT AMOUNT 5% IS ACCEPTABLE.
Page 9 of 20
4. NEGOTIATION OF DOCUMENTS WITH DISCREPANCIES OR INCOMPLETE DOCUMENTS UNDERRESERVE GUARANTEE IS STRICTLY PROHIBITED.
5. ALL BANK CHARGES OTHER THAN THOSE OF ISSUER ARE FOR BENEFICIARY ACCOUNT.
6. DISCREPANT DOCUMENTS WILL BE SUBJECT TO A DISCREPANCY HANDLING FEE OF US DOLLARS 150.00, WHICH WILL BE FOR
BENEFICIARY ACCOUNT.
7. ALL THE DOCUMENTS MUST STRICTLY CONFIRM TO THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT ON FIRST
PRESENTATION.
8. DOCUMENTS TO BE PRESENTED WITHIN 21 DAYS AFTER SHIPMENT BUT WITHIN THE VALIDITY OF ТНЕ L/C.
9. ALL DOCUMENTS MUST BE ISSUED IN ENGLISH LANGUAGE.
10. THIS DOCUMENTARY CREDIT IS SUBJECT TO THE VERSION OF THE ICC UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS,
INTERNATIONAL CHAMBER OF COMMERCE, PARIS, FRANCE, and PUBLICATION NO. 600, LATEST REVISION, AND SHALL BE
INTERPRETED IN ACCORDANCE WITH THE LAWS OF ENGLAND. ANY DISPUTE ARISING OUT OF OR IN CONNECTION WITH THIS
DOCUMENTARY CREDIT SHALL BE SUBJECT TO THE EXCLUSIVE JURISDICTION OF THE COMMERCIAL COURT OF ENGLAND.
11. THIS IS AN OPERATIVE INSTRUMENT AND NO CONFIRMATION SHALL FOLLOW.
12. CONFIRMATION CHARGES ARE FOR BENEFICIARY'S ACCOUNT.
49: CONFIRMATION INSTRUCTIONS - WITHOUT
78: INSTRUCT TO PAYG/ACCEPTG/NEGOTG BANK - REMITTING BANK TO FORWARD DOCUMENTS IN ONE MAILING TO
APPLICANT’S BANK ADDRESS?? BY COURIER AT BENEFICIARY EXPENSE, UNDER SWIFT ADVICE TO US, PLEASE INCLUDE YOUR PAYMENT
INSTRUCTIONS, PAYMENT WILL BE AFFECTED UPON RECEIPT OF COMPLYING DOCUMENTS AT COUNTERS OF APPLICANT’S BANK ADDRESS??
57A: ADVICE THROUGH BANK NAME/ADDR SWIFT CODE
Page 10 of 20
ANNEX “C1”
DRAFT – MT760 - ISSUE OF A SELLER’S BANK, FOR SHIPMENTS FROM THE 2º TO THE 37º.
***BBVA BANK (issuing bank) ***MT760***
***DATE ISSUE _______________
--------------------------------------------------------------------------------------------------------
***NETWORK: SWIFT ACKS
***SESSION HOLDER: _______________
***DELIVERY STATUS: NETWORK ACK
-------------------------------------INSTANCE TYPE AND TRANSMISSION-------------------------------------
***NOTIFICATION (TRANSMISSION) OF ORIGINAL SENT BY SWIFT (ACK)
***NETWORK DELIVERY STATUS: ACK
***PRIORITY/DELIVERY: NORMAL
***MESSAGE IMPUT REFERENCE: ____________________________________
***MESSAGE OUTPUT REFERENCE: ___________________________________
-------------------------------------------MESSAGE HEADER-----------------------------------------------
***SWIFT IMPUT :
***SENDER :
***BRANCH :
***BANK ADDRESS :
***ACCOUNT NAME :
***ADDRESS :
***ACCOUNT NUMBER :
***SWIFT CODE :
***BANK NAME : ________________________

***BANK ADDRESS : _____________________________________________________________
***SWIFT CODE : ______________
***ACCOUNT NAME :
***ACCOUNT NUMBER : _____________________
***BANK OFFICER NAME’S: _________________________
***BANK OFFICER EMAIL : _________________________
***BANK OFFICERS NUMBER: _________________________
***CONTRACT No. : 2021/JC/JMB/JSA/IoF/63-022.
--------------------------------------------MESSAGE TEXT-------------------------------------------------
***F: 20: TRANSACTION REFERENCE CODE: //: _______________________
***F: 21: RELATED REFERENCE: //: ____________________________
***F: 22: STANBY LETTER OF CREDIT NUMBER: ______________________
***F: 94: PLACE OF ISSUE: _________________________________
***F: 31C: DATE OF ISSUE: _______________________
***F: 31D: DATE OF MATURITY: 30/NOVEMBER/2024.
***F: 32B: CURRENCY: USD (US DOLLAR)
***F: 36B: AMOUNT: US$13,700,000.00 (THIRTEEN MILLION SEVEN HUNDRED THOUSAND US DOLLARS ONLY)
***F: 40A: APPLICANT: ____________________, SEVILLE, SPAIN.
***F: 59: BENEFICIARY: ____________________ COMPANY LIMITED
***F: 77: NARRATIVE:
-----------------------------------------MESSAGE TEXT 760------------------------------------------------
FOR THE VALUE RECEIVED, WE THE UNDERSIGNED, BBVA ( issuing bank), LOCATED AT SEVILLA, SPAIN, UPON
INSTRUCTION OF OUR CLIENTE ____________________, IBAN CODE ES48-0182-2658 7620 1223 0030, WITH FULL
BANKING RESPONSIBILITY, HEREBY, IRREVOCABLY AND UNCONDITIONALLY, WITHOUT PROTEST OR NOTIFICATION, ON
FIRST DEMAND, PROMISTE TO PAY AGAINSTHIS STANBY LETTER OF CREDIT No.: _______________, AND CONTRACT No.
2021/JC/JMB/JSA/IoF/63-022 IN FAVOUR OF ____________________ COMPANY LIMITED, ACCOUNT NUMBER:
_____________________, THE BEARER AND HOLDER THEREF, THE SUM OF US$13,700,000.00 (THIRTEEN MILLION SEVEN
HUNDRED THOUSAND US DOLLARS ONLY), UPON PRESENTATION AND SURREDER OF THIS STANBY LETTER OF CREDIT AT OUR
COUNTERS, BUT NOT LATER THAN THIRTY (30) DAYS AFTER MATURITY DATE OF THIS STANBY LETTER OF CREDIT.
SUCH PAYMNT WILL BE MADE WITHOUT SET-OFF AND FREE AND CREAR OF ANY DEDUCTION, CHARGES, FEES OR
WITHHOLDING OF ANY NATURE PRESENTLY OR IN THE FUTURE IMPOSED, LEVIED, COLLECTED, WIHTHELD OR ASSESSED BY
THE GOVERNMENT OF SPAIN OR EU, OR ANY POLITICAL SUBDIVISION OF AUTHOTITY OR THEREIN.
THIS STANBY LETTER OF CREDIT IS FULLY CASH BACKED WITH FUNDS ON DEPOSITED THAT ARE GOOD, CLEAN, CLEARED
OF NON-CRIMINAL ORIGIN, FREE OF ANY LIENS OR ENCUMBRANCES LEGALLY EARNED BY THE ORDERING CURTOMER. THIS
STANBY LETTER OF CREDIT IS UNCONDITIONAL, NOT-TRANSFERABLE, NOT-ASSIGNABLE, DIVISIBLE, AND CONFIRMED
WITHOUT PRESENTATION OF IT TO US AND SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
USA.
THIS STANBY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICES FOR DOCUMENTARY CREDITS
I.C.C. PUBLICATION 600, LATEST VERSION.
THIS IS AN OPERATIVE INSTRUMENT, AND CAN BE VERIFIED BY BANK INQUIRY AND IN ACCORDANCE WITH THE UNIFORM
CUSTOMS AND PRACTICES FOR SUCH CREDIT INSTRUMETS. ALL CHARGES ARE FOR THE ACCOUNT OF THE APPLICANT.
Page 11 of 20
FOR AND ON BEHALF OF BBVA (issuing bank).
TAUNUSANLAGE SEVILLA, SPAIN (office of the issuing bank)
AUTHORIZED BANK OFFICER 1: ______________________ (PIN No._______) TITLE: _______________________
AUTHORIZED BANK OFFICER 2: ______________________ (PIN No._______) TITLE: _______________________
__________________: ___________________ (CODE SWIFT BANCO EMISOR)
CONF: DATE: ____________________ HOUR: __________________
TRACKING CODE: ____________________
--------------------------------------------INTERVENTIONS------------------------------------------------
CATEGORY: NETWORK REPORT
CREATION TIME: _____________________, HOUR: _____________________
APPLICATION: SWIFT INTERFACE
OPERATION: SYSTEM
END TIME: _________________ (HOUR)
TEXT: _____________________________________________
---------------------------------------------------------------------------------------------------------
CONF DATE: ________________ (HOUR) _________________ No. _____ TITLE: MT-760 TIMED DRAFT MESSAGE
CONFIRMATION LOGICAL ANSWERS BACK?? (Y)
VALUE DATE/END TIME: _________________ HOUR: _______________ MESSAGE HAS BEEN TRANSMITTED.
---------------------------------------------------------------------------------------------------------
____________________
Page 12 of 20
ANNEX “D”
SELLER: DOCUMENTS THAT INCORPORATES THE SELLER TO THIS AGREEMENT:
COPY EXPORT LICENSE:
Page 13 of 20
ANNEX “D1”
COPY LICENSE ACTIVITY:
Page 14 of 20
ANNEX “D2”
Page 15 of 20
ANNEX “D3”
Page 16 of 20
ANNEX “D4”
COPY LAST FULL ANALISYS BY INTERNATIONAL LABORATORY, AS AN EXAMPLE.
Page 17 of 20
ANNEX “D5”
SCANNED COPY SITE RESERVATION CONTRACT FOR THE STORAGE OF IRON ORE CARRIED OUT BETWEEN THE
SELLER ____________________ COMPANY LIMITED AND AUTHORITIES KOH SI CHANG PORT, CHONBURI
THAILAND. Coordinates: 13º 10’ 0.00”N / 100º 40’ 0.00”E.
-------------------
THIS SCANNING DOCUMENT WILL BE SENT BY THE SELLER TO THE BUYER, AT THE FOLLOWING TIME:
A) AFTER SIGNING THIS DOCUMENT.
B) AND AFTER ISSUING THE P / B (2% (SUPPLY GUARANTEE), IN FAVOR OF THE BUYER.
Page 18 of 20
ANNEX “E”
BUYER’S: COMPANY LEGAL DOCUMENT:
Page 19 of 20
ANNEX “F”
SELLER: PHOTOS OF MATERIALS (3 ud min.), WHIH WILL BE SHIPPED BY THIS CONTRACT, BY WAY OF EXAMPLE:
Page 20 of 20

Iron Ore Purchase Agreement

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Iron Ore Purchase Agreement

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PURCHASE – SALE AGREEMENT CONTRACT FOR:

IRON ORE FINES – Fe >65,00% - REJ. Fe <64.00%

 The SELLER / PROVIDER:

 The VIA of BUYER:

CLAUSE 1: NAME OF COMMODITY:

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

CLAUSE 4: BASE PRICE.

2 USD: – 32.62 DISCOUNT: SMM -20% in USD/MT.

CLAUSE 5: PRICE ADJUSTMENT.

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

CLAUSE 7: DOCUMENTS BY PAYMENT.

CLAUSE 9: SAMPLING AND ANALYSIS.

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

CLAUSE 10: FORCE MAJEURE.

CLAUSE 11: ARBITRATION.

CLAUSE 12: TITLE AND RISK.

CLAUSE 13: AMENDMENT OF CONTRACT.

CLAUSE 14: NON-DISCLOSURE AGREEMENT.

CLAUSE 15: PENALTIES.

CLAUSES 16: NOTICES.

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

For and on behalf of SELLER: For and on behalf of BUYER:

Title: CEO Title: CEO

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

VERY IMPORTANT NOTE:

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THIS P/B IS CONFIRMED.

OUR GUARANTEE IS GOVERNED BY THE LAWS OF URDG758.

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

***BANK NAME : ________________________

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

THE SELLER, THE BUYER,

THE SELLER, CODE: 2021/JC/JMB/JSA/IoF/63-022. THE BUYER,

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