GLOBAL STEEL, LLC

ARTICLE 2: INSURANCE
TO BE COVERED BY THE BUYER
ARTICLE 3: SHIPMENT
BY BREAK BULK VESSEL
LOADING PORT: ANY CHINESE PORT
DISCHARGING PORT: GUAYAQUIL, ECUADOR
TRANSSHIPMENT NOT ALLOWED
PARTIAL SHIPMENT: ALLOWED
SHIPMENT TIME: ON NOV., 2022.
ARTICLE 4: PACKING
MILL'S STANDARD EXPORT PACKING
ARTICLES: PAYMENT
BUYER SHOLUD ADVANCE DOWN PAYMENT IN THE SUM 20% OF CONTRACT AMOUNT, BY TIT
WITHIN
3 WORKING DAYS AFTER SIGNED CONTRACT, BALANCE PAYMENT HAS TO BE EFFECTED WITHIN 3
DAYS AGAINST COPY OF BL.
BUYER SHOULD IDENTIFY THE NUMBERR OF THIS CONTRACT WHEN MAKING THE ABOVE
PAYMENTS,
AND PROVIDE US WITH PROOF OF PAYMENT ONCE PAYMENTS HAVE BEEN MADE WITHOUT DELAY.
IF
BUYER DELAYS OR FAILS IN PUNCTUALLY PAYING DOWN PAYMENT IN ACCORDANCE WITH THIS
CONTRACT, SELLER HAS THE RIGHTS TO CANCEL/TERMINATE THIS CONTRACT OR TO
POSTPONE/EXTEND THE DELIVERY/SHIPMENT ACCORDINGLY.
IF SELLER CHOOSES TO CANCEL/TERMINATE THIS CONTRACT DUE TO BUYER'S DELAY OR FAILURE
IN PAYING DOWN PAYMENT, BUYER SHALL BE LIABLE FOR ALL LOSSES SUFFERED BY SELLER IF
SELLER CHOOSES TO DELAY THE DELIVERY/SHIPMENT DUE TO BUYER'S DELAY IN PAYING THE
DOWN PAYMENT, BUYER SHALL POSTPONE/EXTEND THE SHIPMENT DATE AS PER SELLER'S
DISCRETION. IN CASE OF BALANCE OF GOODS VALUE OVERDUED, BUYER SHOULD PAY DAILY
INTEREST LOSS CALCULATED AT 0.02% OF THE OVERDUED WITHIN 7 DAYS AFTER DUE DATE AND
0.04% OF THE OVERDUED VALUE AFTER 7 DAYS OF DUE DATE.
THE SELLER HAS TO COURIER FOLLOWING DOCUMENTS TO THE BUYER WITHIN 10 WORKING DAYS
UPON RECEIVING TOTAL PAYMENT.
3/3 ORIGINAL SHIPPED ON BOARD BILL OF LADING MARKED "FREIGHT PREPAID".
3/3 ORIGINAL COMMERCIAL INVOICE
3/3 ORIGINAL PACKING LIST
ONE ORIGINAL MILL TEST CERTIFICATE ISSUED BY THE MILL
THE SELLER'S BANK INFORMATION AS FOLLOWS:
BANK NAME TERRABANK. N.A.
ACCOUNT NAME: GLOBAL STEEL, LLC
SWIFT: TBNAUS33
ABA: 066012333
ACCOUNT NO. 1297973206
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