Please quote for the following wholesale product requirement -
Product Name: Copper Cathode
Specifications:
Origin: Any non sanctioned country
Trial quantity: 1,000mt
Monthly quantity: 5,000mt
Contract period: 12 months
Target Price: LME -19%
Commission: 3% for the buyer side
Guarantee: Irrevocable, Confirmed, Non-Transferable 100% Letter of Credit payable at the destination port
Payment method: MT103/TT
Payment timing: Payment to be made after final inspection and receipt of all documents within 3 banking days
Specifications:
- Grade: Electrolytic Copper Cathode Grade A, 99.97% - 99.99% purity
- Dimensions : 914 mm x 914 mm x 12 mm (approx., +/-1%) (LME Standard)
- Weight:
* Per Sheet: 125 kg (+/- 1%)
* Per Pallet: 2 MT (+/- 1%)
* Per Container (Min.): 20 MT (approx.)
* Per Container (Gross): 22.20 MT (approx.)
Procedure:
1. Buyer issues a Letter of Intent (LOI) to the Seller.
2. Seller issues a Full Corporate Offer (FCO) to the Buyer.
3. Buyer signs the FCO, accepting the transaction procedure and payment conditions.
4. Seller issues a draft Sales and Purchase Agreement to the Buyer for review and approval.
5. Seller and Buyer sign the agreed-upon Sales and Purchase Agreement and exchange copies via email.
6. Seller provides proof of product to the Buyer.
7. Buyer's bank issues a pre-advice (MT199) to the Seller's LC receiving bank, confirming readiness to issue the Letter of Credit.
8. Seller's LC receiving bank responds with a notification of intent to receive the Letter of Credit and issue a 2% performance bond.
9. Buyer issues an Irrevocable Standard Letter of Credit (DLC/MT700) to the Seller's bank.
10. Seller issues a 2% performance bond to activate the Letter of Credit.
11. Nominated clearing and forwarding company transports the copper cathode for shipment preparation.
12. Copper cathode shipment is completed at the loading port.
13. Copper cathode arrives at the Buyer's destination port, and final inspection is conducted by SGS, Alex Stewart, CICC, or another internationally recognized company.
14. Final payment is made against the bill of lading and inspection report at the destination port.
