Based on Standard Specification
100.000 +/- 5% Metric Tons per Month.
Twelve (12) months with rolls or extension as agreed by both parties
By SGS or equivalent Survey company.
The order is confirmed after the Seller receives a LETTER OF ACCEPTANCE
Seller’s Commercial Invoice
SPA Annual Contract
3/3 Copies of the Original Bill of Lading
Copy of Certificate of Origin issued by SONANGOL
Platts minus 35 $USD per Metric Ton by CIF to ASWP. Seller pays the intermediaries and Agents all commission of $ 5.00 MT (as set out in the Irrevocable master Fees Protection Document annexed to the main contract). 2.5$ Seller’s side closed and 2.5$ Buyer’s side open
TERMS OF PAYMENT
a. Monthly Payment by irrevocable DLC against unloading documents and SGS/CIQ.
b. Guaranteed by an Unconditional Assignable, Irrevocable, Divisible, Negotiable, Transferable, and Stand By Letter of credit (SBLC) from one of the S & P Prime 50 World Banks for the amount equal to ONE (1) month’s purchase order value.
For the first delivery shall be in Four (4) weeks at the unloading port nominated by the Buyer on authentication of workable BG or L/C issues to Seller’s Bank. Tax of anchorage, all cost of discharging Port in waters paid by Buyer.
January 9, 2013
FCO received for D2 AGO 100.000 MT/month
1. Buyer and seller signed SPA between parts and lodged in their bank
2. Seller send commercial Invoice for the first delivery in One (1) original and Three (3) copies to Buyer
3. Buyer's bank issues BCL (Bank Comfort Letter).
Buyer's independent inspectors conduct delivery to receiving tank.
4. After delivery to receiving tank, payment is effective or the guaranty is totally released to seller bank after Q&Q. Seller and facilitators Accounts within 36hrs upon presentation of relevant document at buyer's bank.
5. All banking charges from the Buyer’s bank shall be borne by the Buyer including
confirmation commission etc and all banking charges incurred by the Seller at Seller’s bank shall be borne by the Seller.
6. All SGS inspection charges at discharging Port shall be borne by the Buyer.
7. The following documents shall be presented as authentic proof of product by the Seller
• Clean Ocean Bill of Lading, One (1) Original and three (3) copies
• Seller’s Commercial Invoice, One (1) Original and three (3) copies
• SGS/Say bolt report
• Master’s receipt for Samples
• Master’s receipt for Documents
• Cargo Manifest
8. Delivery commences as per schedule agreed.
9. The text format and wordings of the irrevocable DLC will be mutually agreed by both parties’ banks. The exact verbiage must be sent to the Seller in good time to allow the acceptance of said instruments. Failure to supply such Verbiage may extend the times stipulated above.