We have to following contract and terms for ore.

OFFER VALIDITY : 2 JUNE 2004 - TOTAL QTY AVAILABLE 3 M MT / month.
CONTRACT AVAILABLE FOR 12/24/36 months with yearly price revision.

We are pleased to inform you that we are offering MEXICO Iron Ore at the most competitive prices now in the total Iron market, which shall appeal to a GENUINE BUYER.
OFFER HIGHLIGHTS : ORIGIN : MEXICO. TOTAL QTY AVAILABLE: 3,000,000 MT / month.
CONTRACT AVAILABLE FOR 12/24/36 months with yearly price revision
PRICE : US $ 72 / MT CNF Main China Port. Price revision every 12 months.
Fe = Minimum 64.50 % .
Delivery : as per buyer's choice.
PAYMENT: Payment terms are Revolving, Irrevocable,
Unconditional, Unencumbered, and Transferable Letter of Credit. NON
TRANSFERABLE LC ALSO CAN BE CONSIDERED IF BUYER BANK IS WORLD PRIME BANK IN BEJING / HONG KONG. Buyer to open non operative LC first.
PB : Seller's PB of 2% value shall activate buyer's Non operative LC.
POP, Mining certificate , Inspection report AVAILABLE.
Inspection by SGS at seller's account.
POP by seller against POF by buyer.

PROCEDURE
BUYER SHALL GIVE SIGNED & SEALED LOI AND BCL TO ENTERTAIN ONLY SERIOUS AND GENUINE BUYERS.
BUYER SHALL BE SENT THE DRAFT CONTRACT FOR UNDERSTANDING TERMS OF THE SALE..
BUYER APPROVES THE DRAFT CONTRACT AND RETURNS TO SELLER.
THE FINAL CONTRACT IS SENT TO BUYER. FIRST BUYER SIGNS AND THEN SELLER SIGNS.
OF BY SWIFT OP BY SWIFT
BUYER TO POST NON-OPERATIVE DLC [ NOLC ]
SELLER TO POST OPERATIVE 2% PB TO ACTIVATE BUYER'S NOLC.
SHIPMENT COMMENCES

OFFERS FOR FULL AMOUNT ONLY.....

Charles

HELLO SIR,