Commodity: Un-used rail, secondary grade, R50 (Gost-7173-75) and R65 (Gost-8165-75)
â?¢ Lengths: From 0.9 to 12.5 meters, cut in any lengths at buyer choice
Total Quantity: >5,000,000 Mt (Two million metric tons)
â?¢ Origin: Saudi Arabia
â?¢ Price and Shipment Type: CIF to any port in the world at $160/MT
Shipment Delivery Schedule: Proposed schedule is 200,000 MT/Months X 10 Months. It must be noted that maximum shipment size is 500, 000MT/Month, while minimum shipment size is 50,000MT/Month. However, details of shipment will be agreed upon and reflected in the contract.
The payment: 100% LC MT700 Confirmed, at Sight, Irrevocable, non-transferable for the total LC value for the whole amount of 5 Million MT. However, revolving LC MT700 can be opened only with 20% " Negotiable as agreement "of the Total Value, but only on the Condition that the Buyer's Bank Guarantees the Total Value and accepted by Seller)
Performance Bond: 2% by seller as Bank Guarantee after Establishing LC.
Warehouse Visit/Preview: If the buyer desires to visit the warehouse or see Proof Of Product - POP documents, videos, photos...etc., it is required to open (before came) only MT705 from buyer bank to seller bank within 48 Hrs. MT705 does not hold Buyer for commitment to Seller for whole amount, which is required to assure the Seller of Buyerâ??s financial resource capability to commence the deal.
â?¢ Inspection: SGS or any Equivalent as per the signed contract.
Commercial Invoice (CI): CI shall be issued at Buyer expense for a cost of $2700 in order to preserve the desired quantities for specific period of time (14 days). However, Seller will return this CI amount to Buyer once LC- MT700 is issued.
The CI is a reference required for LC MT700 and/or MT705 issuance per Saudi Banking System regulations. Note, the seller will provide commitment letter to return the CI amount, mentioned in the contract, and can be added to LC-MT700 conditions terms to ensure Buyer of retuning the CI amount.
Deal Procedure: Will be sent upon agreement.
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