XINDELONG CO.

, LIMITED
ROOM 604, 6/F., EASEY COMMERCIAL BUILDING, NOS. 253-261 HENNESSY ROAD, WANCHAI, HK

Letter of Intent
Date: April 12, 2023
To
Minserve SPRL, No6 Avenue Mwenda, Lubumbashi
D.R.Congo , Attn: Assani Elolo Roanalo

We hereby confirm that we are ready and able to enter into a contract for the
purchase of the following product with terms and conditions as stated below:

Commodity: Grade A Copper Cathode (Cu 99.99% and up)

Origin: To be advised by the Seller and approved by the Buyer
Quantity: Trail 1,000 MT and 5,000MT +/- 10% x 12 months
Incoterms: CIF
Loading Port: Any
Destination Port: Shanghai Port, China
Guarantee: 100% Confirmed, Irrevocable and Non-Transferable, Documentary Letter of
Credit (MT700)
Payment: TT MT103, Bank to Bank within 3 working days upon receipt of the shipping
documents including the Bill of Lading and the Q & Q Inspection Report done by
SGS at destination Port.
Price: LME Cash Price minus 18% Net / 23% Gross
Intermidiates: 1% +1% + 3%
 Price reference: https://www.lme.com/en/Metals/Non-
ferrous/LME- Copper#Trading+day+summary

Insurance: 110%
Performance Bond: 2%
Inspection: SGS at loading and destination port. The quality and quantity in the inspection
report done by SGS at the destination port shall be considered final.
Shipment: 1) Trans-Shipment not allowed
2) Partial Shipment allowed with written approval by the buyer.
 XINDELONG CO., LIMITED
ROOM 604, 6/F., EASEY COMMERCIAL BUILDING, NOS. 253-261 HENNESSY ROAD, WANCHAI, HK
CONGO ORIGIN – GRADE A COPPER CATHODES (Cu 99.99% and up) - PROCEDURES
1. The buyer submits a Letter of Intent (LOI).
2. The seller submits a Full Corporate Offer (FCO) and a NCNDA (prepared by the intermediaries), which will be
signed by both the buyer and seller.
3. The Buyer submits an Irrevocable Corporate Purchase Order (ICPO) together with Proof of Fund (in
English) for the quantity of a regular monthly shipment.
4. Within 3 working days after the seller receives the ICPO, the seller sends video/photo of the
factory/warehouse showing the Buyer’s name and the date of filming. Seller also sends sanitized past
performance (e.g. Bill of Lading, SGS Inspection Report….etc.) at the same time.
5. Within 3 working days after the buyer receives the sanitized past performance, the seller presents a
draft contract (SPA) to the buyer.
6. (Optional) Buyer visits factory / warehouse at buyer’s cost. The seller shall assist the buyer for Visa
application and the booking of accommodation/transportation without any charge.
7. The buyer and the seller negotiate the terms and conditions in the SPA. Within 2 working days after
the buyer receives the draft SPA, the buyer signs the final draft of the SPA and sends it to the seller.
8. The seller verifies, signs, and returns the final SPA to the buyer within 1 working day after receiving
the final draft of the SPA. The exchange of the SPA with the buyer shall be by electronic transmission/fax
or courier services.
9. Both parties lodge the final SPA with their respective banks and sign the IMFPA with the intermediaries
within 2 working days after the buyer receives the final SPA.
10. The seller issues Pro-forma Invoice and provides proof of product includes but not limit to test
report, export license and certificate of ownership….etc. to the buyer within 2 working days after both
parties lodge the final SPA with their respective banks.
11. Within 5 working days after the buyer receives the Pro-forma Invoice, the buyer opens Irrevocable,
Non-Transferable, Inoperative and Confirmed Documentary Letter of Credit (DLC) MT 700 in favor of the
seller (not to a third party).
12. Within 2 working days after the seller receives the DLC, the seller issues the 2% Performance Bond to
active the buyer’s DLC.
13. Within 14 working days after the seller issues the 2% Performance Bond, the product shall be ready for SGS
Inspection in a bonded warehouse closed to the port of loading at seller’s expense.
14. The seller ships the goods as per the contract terms and schedule and send all shipping documents
including the SGS Report to the buyer.
15. Within 4 working days after the product arrives at the port of destination, the buyer conducts SGS
Inspection in a bonded warehouse at buyer’s expense. A copy of the Q &Q Inspection Report will be sent
to the seller by email immediately after the buyer receives the Q & Q Inspection Report.
16. The seller issues Commercial Invoice according to the Q & Q Inspection Report done by SGS at port
of destination.
17. The buyer pays for the shipment by TT MT103 wire transfer within 3 banking days after the receipt
of the Commercial Invoice.
The seller transfers the ownership/title to the buyer and pays all intermediaries according to the
IMFPA within 1 working day after the receipt of the buyer’s payment.
18. Next shipment starts as per the contract schedule.
 XINDELONG CO., LIMITED
ROOM 604, 6/F., EASEY COMMERCIAL BUILDING, NOS. 253-261 HENNESSY ROAD, WANCHAI, HK

By sending this Letter of Intent for the release of the Full Corporate Offer we repeat that we are immediately
ready, willing, and able to purchase the product as afore-mentioned subject to contract details.

Best Regards
BY: MR. YE QIUSHENG
TITLE: CEO