WE, HEREBY CONFIRM WITH FULL CORPORATE AUTHORITY, AND MANDATE
TO SALE HMSI/HMSII, IN THE TERMS AND CONDITION GIVEN BELOW.
THE BUYER, BY SIGNING THIS OFFER, HEREBY AGREES AND MAKES AN IRREVOCABLE FIRM COMMITMENT TO PURCHASE,180 MTS OF HMS I/HMS II.
3. Packing: PACKED IN 20 FT CONTAINER AFTER CUTTING TO 2 MTRS.I
4. Inspection: QUALITY, QUANTITY, WEIGHT, BY SGS AT SELLER’S EXPENSES, AT LOADING PORT
5. Destination: A.S.W.P
6. Total Quantity: 180,000 MTS 30,000MT per Month x 6 MONTHS
7. Price: Total 180,000MTS: US$220.00 PER MT CIF, FOR COUNTRIES IN WAR OR CONSIDERED DANGEROUS BYTHE UN, THE SALE WILL TURN INTO CFR F/O BASIS
8. Delivery: CIF FREE OUT BASIS
9. Payment: BY AN IRREVOCABLE, TRANSFERABLE, NON-OPERATIVE, UNCONDITIONAL AUTO-REVOLVING AND CONFIRMED LETTER OF CREDIT FOR THE SETLEMENT OF TOTAL SHIPMENT (+/- 10%) AT SIGHT AGAINST DOCUMENTS FOR THE FULL VALUE.
LETTER OF CREDIT SHOULD BE CONFIRMED BY WORLD PRIME BANK AT
BUYER’S COST.
Yard visit: YARD VISIT SHOULD BE CONDUCTED BY BUYER, PRIOR TO COMMENCEMENT OF SHIPMENT.
10. Shipment: THE SIZE OF EACH SHIPMENT TO BE 30,000MTS
THE SHIPMENT SHALL BE MADE WITHIN 20 ~ 30 DAYS FROM THE DAY OF RECEIPT, VERIFICATION AND ACCEPTANCE OF BUYER’S LETTER OF CREDIT.AT SELLER’S BANK.
THE DATE OF THE BILL OF LADING SHALL BE CONSIDERED AS DATE OF LIFTING AND SHIPMENT.
12. Dis charge Rate : 1,000MTS PER WORKABLE DAY
13. Performance Bond: 2% (TWO PERCENT) from seller side
2% (TWO PERCENT) from buyer side if failed to open an L/C.
14. Insurance: SELLER’S RESPONSIBILITY
16. Arbitration: APPLICABLE AS PER INTERNATIONAL I.C.C.
17. Force Majeur: APPLICABLE AS PER STANDARD DEFINITION
18. Contract Procedures:
Ø BUYER RETURNS THIS FCO SIGNED AND SEALED.
Ø SELLER ISSUES FINAL CONTRACT AGREEMENT, SELLER AND BUYER EXCHANGE, BY MAIL, SIGNED HARD COPIES OF THE FINAL CONTRACT.
Ø BUYER WILL ISSUE THE POF TO SELLER’S BANK BY SWIFT.
Ø SELLER WILL ISSUE THE POP TO BUYER’S BANK BY SWIFT
Ø BUYER’S BANK WILL ISSUE THE LETTER OF CREDIT TO SELLERS BANK
Ø DELIVERY AND SHIPMENT COMMENCE AS PER SCHEDULE MUTUALLY AGREED.
19. Additional Condition:
QUANTITY AND AMOUNT SHOULD BE ACCEPTABLE WITH A POSITIVE OR NEGATIVE TOLERANCE OF TEN PERCENT (+/- 10%) CASH DOWN PAYMENT AT SELLER’S OPTION
20. Validity: THIS OFFER IS VALID FOR FIFTEEN (15) WORKING DAYS AND SUBJECT TO RECIEPT OF NON OPERATIVE LETTER OF CREDIT FOR CLOSING OF THE DEAL WITHIN 15 WORKING DAYS, FROM THE DATE THIS FCO IS ISSUED, UNLESS EXTENDED IN WRITING .
BUYER CONFIRMS THAT SAID FUNDS ARE AVAILABLE, GOOD CLEAN, CLEARED UNENCUMBERED, LEGITIMATELY EARNED AND OF NON CRIMINAL ORIGIN.
WE HEREBY DECLARE THIS ABOVE FURNISHED INFORMATION IS TRUE AND CORRECT AS PER OUR BEST OF KNOWLEDGE AND THIS OFFER IS BEING MADE WITHOUT ANY PREJUDICE, FOR THE SUCCESSFULL COMPLETION OF THIS SAID OFFER.
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