Iron Ore from Brazil

Price:

CNF USDxxx

Quantity Order:

Origin:

Brazil

Payment Method:

L/C

Quantity:

500,000MT

Pack. & Delivery:

Bulk

SOFT OFFER 2011

IRON ORE FINES 64, 5% - 63, 5%

ORIGIN BRAZIL

QUANTITY
500.000MT X 12 Months

PRICE
USD xxx, 00MT CIF ASWP

DELIVERY
40-45 days for the first shipment and subsequent shipments within 40 days from the date
of receipt of the Operative DLC.

INSPECTION
S.G.S Inspection for Quality and Quantity Service at Seller’ s Cost shall inspect the
Commodity at Place of Loading.

PAYMENT
Irrevocable, Transferable, Operative, Confirmed, Auto / Revolving Documentary Letter of Credit covering full value of the each monthly shipment, 100% Draft at Sight, with 98% at the Load Port and balance 2% at the Discharge Port.

PERFORMANCE BOND
Seller will post 2% PB.

PROCEDURES
1. Buyer sends the Letter of Intent( LOI)
2. Seller issues the FCO for the Buyer
3. Seller issues Sales and Purchase Agreement.
4. Buyer & Seller sign and seal the Contract/ Agreement.
5. Buyer Sends the DRAFT L/ C TEXT and Seller approves the TEXT.
6. Upon seal and signature of the CIF Contract as well as approval of the DRFAT L/ C
TEXT within 7 banking days the Buyer has to issue the Pre-Advised DLC to the
Seller’ s Bank through the authenticated BANK SWIFT Message.
7. Upon receipt of the same, within 5 Banking Days the Seller shall open and issue
The Operative PBG in favour of the Buyer’ s Bank and upon receipt of the same by
The Buyers’ Bank the Pre-Advised DLC becomes Operative automatically.

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