Iron Ore Fines 63.5%

Product Description

*1. PRODUCT : IRON ORE (INDIA)

*2. LEGAL : FOB

*3. TECHNICAL : Fe *3.5% & *2.5% (REJECTION)

*4. QUANTITY : *0,**0 MT/Month AT SELLERS CHOICE

*5. PERIOD : *5 DAYS

*6. CONTRACT VALIDITY : *0 DAYS FROM THE DATE OF FINAL APPROVED PRIME BANK LETTER OF CREDIT FROM THE SELLERS BANK

*7. PRICE : US$ *****0/MT [FOB, INCLUSIVE OF ALL TAXES]

*8. PAYMENT : **0% ON SIGHT FFDLC

*9. PLACE OF LOADING : VIZAG PORT, A.P., INDIA

*0. PACKAGING : BULK

*1. OTHER CONDITIONS : AS PER MUTUAL CONSENT (IF ANY)

TRADE PROCEDURE:

1. BUYER ISSUES A LOI (LETTER OF INDENT) IN THE NAME OF THE SELLER ALONG WITH LOCAL LC TEXT

2. SELLER ISSUES SALE CORPORATE OFFER.

3. BUYER ISSUES DRAFT CONTRACT IN FAVOR OF THE SELLER.

4. SELLER SIGNS & SEALS OR AMENDS THE CONTRACT VIA EMAIL TO THE BUYER WITHIN *4 HOURS

5. CONTRACT SHOULD BE INITIALED (ALL PAGES) SIGNED & SEALED BY THE BUYER & RETURNED TO THE SELLER FOR HIS SIGNATURE WITHIN *4 HOURS.

6. IF CHANGES WERE MADE PLEASE USE RED INK. PLEASE DO NOT DELETE THE ORIGINAL WRITING

7. SELLER RETURNS AMENDED DRAFT CONTRACT AS FINAL CONTRACT DULY SIGNED & SEALED. BUYER DULY SIGNS & SEALS FINAL CONTRACT AND SENDS TO THE SELLER (ELECTRONICALLY SIGNED COPIES OF THE CONTRACT ARE ACCEPTABLE)

8. BUYER PROVIDES LOCAL LC DRAFTS FOR THE SELLERS BANK TO APPROVE WITHIN TW0 (2) BANKING WORKING DAYS AFTER THE FINAL CONTRACT IS LEGALLY BINDING ON EACH PARTY

9. THE SELLER SUBMITS THE FINAL CONTRACT TO THE DDM (DEPUTY DIRECTOR MINES) FOR APPROVAL *0. ONCE THE WORDINGS ARE APPROVED & ACCEPTED; THE BUYERS BANK SWIFT OFFICIAL TRANSMITS LC TO THE SELLERS BANK FOR ACCEPTANCE