HMS1/2 - Russian

1.COMMODITY:
HMS1/2, Heavy Metal Scrap HMS 1&2 ISRI Codes 200-206 (mixture 80/20)2.

2.PAYMENT TERMS:
By Irrevocable, confirmed, transferable and revolving Documentary Letter of Credit on the one month delivery payable 100% at sight after presentation to the Buyers Bank full set of Documents required for payment with validity of 12 + 3 months (in case of delay)

3.Important informations
*TERMS: Non- Operative LC or BG should be open by the Buyer in 5 days after signing by Buyer and Seller hard copies of the Contract.
*TOP WORLD BANK: LC or BG should be Issued and confirmed by one of 50 WORLD PRIME BANK. (ask)
*CHINA BANK’S LC/BG in case non transferable: Even if China buyer’s LC/BG does issue from top 50 world Chinese bank in China, it should be confirmed in Top Europe bank.

4. ORIGIN:
Saudi Arabia

5. PRICES:
Transferable DLC with assignable and revolving PAYBLE AT SIGHT LOADING PORT.
30,000MT*12 = === 270
60,000MT*12 = === 268
90,000MT*12 = === 265

COMMISSION:
2.5 DOLLARS IS OPEN FOR BUYER SIDE

6. PERFORMANCE BOND (PB):2% max.

7. INSPECTION:
SGS, CCIC certificates of quality and quantity, radioactivity and al shipping documents listing in the Contract would be issued in the port of loading.

8. YARD AND PORT OF LOADING VISIT:
Yard visit is allowed after Buyers Bank issue operative Bank instrument (MT705 or MT 760) as evidence of financial capability to engage in a particular Transaction. Buyer can stay in the port to check loading process.

9. PROCEDURE:
A)Buyer’s issues LOI or ICPO on company Letter head with permission for Soft Probe.
B)Seller issues FCO or Draft Contract in the name of Buyer and the Buyer signs seal and return to Seller.
C) After Buyer signs and seal and returns. Buyer’s bank must confirm availability of the Financial Instruments (BCL) to the Seller’s bank and their readiness to issue.
D) Seller forwards Final Sales Contract signed and sealed to Buyer with soft POP in case buyer offers RWA.
E) Seller issues and Intermediaries sign IMFPA.
F) Buyer opens the Financial Instrument (DLC/BG), Non-Operative and pending the receipt of the Performance Bond (PB). Seller’s bank confirms Proof of Product (POP) to Buyer’s bank.
G) Seller agrees that the 2% Performance Bond (PB) will be activates the Financial Instruments (DLC/BG) after receipt of the Buyer’s NON-Operative Financial Instruments.

 PORT INSPECTION: Seller sends Invitation to Buyer for port inspection, SGS, CCIC, B/L. All certificates or documents will be issued at the port of loading.
 YARD VISIT: Buyer’s bank issue operative Bank instrument (MT700 or MT760) to Seller, Seller sends invitation to Buyer for yard visit. MT700 or MT760 as evidence of the financial capability to engage in a particular transaction.

H) The first shipment will commence no later than (45) days from date of issued Operative Letter of Credit. The remaining consignments will be shipped in each (30) day periods.
I) Effect of payment for each consignment shall be effect within three (3) banking days after receipt by the Seller’s Advising Bank of all documents required for payment.