Subject: scrap hms 1&2 (80:20)
Whereas: xxxx co. Ltd. With full corporate authority and responsibility hereby makes and confirms that it is ready, willing, and able to purchase 2500 mt +/- 5% (two thousand five hundred metric tons) (plus or minus five percent) of product under the terms and conditions agreed and contained in this contract;
Whereas: maroon impex, with full corporate authority and responsibility hereby certifies, represents, and warrants that it has the commodity and is willing to sell and can fulfill the commodity specifications, quality, quantity, and timely deliveries agreed in this contract; and the product will be cut to one and a half (1.5) meter length as requested; and
Whereas: upon consideration of the mutual agreements, promises, benefits, terms, and valuable consideration between and in the benefit of maroon impex and maroon impex have determined to enter into this sales and purchase contract in accordance with the following terms and conditions set out herein;
Chemical Specification/ Composition :
Carbon - 0.2% to 0.60%
Manganese - 0.80 to 0.90%
Silicon - 0.15 to 0.35%
Sulphur - 0.05% Max.
Phosphorus - 0.06% Max.
1. Origin : Romania
2. Destination: ASWP
3. Delivery Schedule: Seller to specify for completion of total quantity and first shipment from date of confirmed L/C in sellers account;
4. Payment Terms: CIA (Confirmed, Irrevocable, At Sight), transferable and revolving L/C payable in US dollars. 100% at sight of shipment against receipt of all documents required within 5 days of the contract signing from a top 25 world bank.
5. PBG Guarantee: 2% operative PBG to be issued by the seller. The seller will not agree to any additional penalty.
6. Inspection : SGS by seller.
7. Quantity : 30,000 MT x 6
8. Packing : Container Price : USD 297 per MT (CNF)
9. Packing : Break Bulk Price : USD 267 per MT (CNF)
Procedure :
1. Prospective buyer gives LOI and BCL.
2. Seller verifies LOI and BCL thru soft probe, then only forwards the draft contract.
3. Seller and Buyer negotiate and finalize the draft contract.
4. Seller releases final contract for signing by both parties.
5. Buyer opens CIA (Confirmed, Irrevocable, At Sight), transferable and revolving, non v operative L/C payable in US dollars.
6. Seller issues Performa Bond guarantee for 2% of the value of the L/C.
7. Seller provides POP (Proof of product given bank to bank)
8. Buyer's L/C becomes operative
9. Shipment commences
