We, GRINOS CORPORATION, SARL, in JV-Co with major Smelters as RUASHI MINING Co and UFRSD Co, wish to confirm with full legal responsibility, under the penalty of perjury, that our company is the sole and principle mandate of the Supplier/Seller of the Copper Cathode. We further understand that our company will be civilly and criminally liable under our control as certified mandate of the Sellers in view of any subsequent occurrence of fraudulent acts in accordance to the International Chamber of Commerce regulations.
This FCO shall be binding either signed electronically or presented as a hard copy and shall be treated with full legal rights and binding upon the two parties pending their signatures. The terms specified in the contract shall apply.
Product: Copper Cathodes
Purity: 99.99%
Quantity: Trial 1.000 MT/ Contract 60,000MT/ 5,000MT per Month.
Origin: Democratic Republic of Congo
Current location of Material: SMELTER OR SUPPLYING MINING WAREHOUSE (BUYER WILL RECEIVE DELIVERY AT BONDED WAREHOUSE).
Price: USD$ 6500.00 per ton, CIF destination Port
Contract: 12 months with rollovers
Delivery: Immediately in25 days after signing of the contract, issuance of Irrevocable, confirmed, operative and non-transferable LC/BG/SBLC and Buyers instructions.
Payment: Letter of Undertaking/ In US Dollars-SBLC MT760/ BCL Block Funds/Electronic Fund Transfer (EFT) after final testing and delivery at the Buyer(s) bonded warehouse in Lubumbashi, Democratic Republic of Congo

PROCEDURE:
1. The Buyer sends the LOI, the Seller issues a Full Corporate Offer (FCO) for Buyerâ??s Signature (Acceptance of Quantity, Price and Payment terms)
2. The Seller issues draft contract open for amendments.
3. Both parties confirm draft of contract by endorsing it in PDF format.
4. Buyer nominated bank issues an SBLC for 1.000MT validity via MT-760 by swift to Sellerâ??s Financier bank.
5. Sellerâ??s bank issues 2% PB with 1st month 1.000MT or each batch shipment value PB to Buyerâ??s bank.
6. Delivery commences as Schedule.
After shipment arriving at the buyerâ??s port & finishing the unloading & the inspection by SGS then the buyer shall make sure documents in compliance with the credit and pay the total amount for every batch to the Sellers Bank within 3 banking days.