|Description :||DATE: March 2012
Soft Corporate Offer
Commodity: Used Rail Scrap (ISRI R50-R65)
PRICE. 323 USD$ per MT
Quantity: 160.000 MT x 12 Months.
Countryof Origin: Russian Federation
Delivery terms: 30 to 45 days, CIF Europe
(if Spain: Barcelona/Bilbao/Valencia)
Destination Port: ASWP (Any safe world port)
Payment terms: Payable in USD$
IRDLC / Documentary Letter of Credit
Inspection: By SGS or mutually equivalent.
Insurance: 110% of cargo value
1.-Buyer issue an ICPO(Irrevocable Corporate Purchase Order) with full Banking details and
granting permission to seller to conduct soft-probe +NCNDA/IMPFA.
2.-Seller issues FCO to buyer.
3.-Seller issue electronic version of draft contract for buyer´s signatory and amendment if any.
4.-Seller and Buyer lodges contract to their respective bank.
5.-Buyer´s bank will issue MT799 (Proof of Fund) to Seller´s bank
6.-Seller sends POP documents to buyer.
7.-Buyer´s Bank Swift Operative SBLC MT 760 to Seller Bank.
8.-Seller´s Bank reply with a 2% Performance Bond to buyer bank, and issue Proof of Product
(POP) via Swift to buyer´s bank.
9.-The SGS inspection will be borne by the Seller at the loading seaport and Buyer at the
10.-Buyer Shipment commence as per contract.
-The Buyer´s Bank enter in TOP 50 WORLDS BANKS.
-The Seller will not provide past documents (B/L, SGS, PROFORMA INVOICE, or POP), only the POP and
SGS inspection, issued (BANK to BANK only), warrant to the Quality, Quantity, Specifications and Product.