Soft Offer for U.Rails
Mar. 26, 2007
PRODUCT:
Used Rail steel scrap R50/R65
SPECIFICATIONS:
Chemical composition shall fully be ISRI
complaint for all R50 - R65 used long rails steel (Refer to Annex)
(1) R50 (51.67 kg/m) -
GOST 7173-75
(2) R65
(64.72 kg/m) - GOST 8165-75,
ORIGIN:
Eastern Europe including the Russia
PRICE:
Quantity (/month) Annual ( x 12 month) - Spot
(Less than 11 months)
30,000 / 60,000 M ton USD
230 USD 235
90,000 M ton USD 225 USD 233
120,000 M ton USD 218 USD 228
150,000 M ton USD 215 USD 225
200,000 M ton
USD 212
USD 222
INCORTERM:
CIF ASWP. CIF
mean that it include all costs to destination port paid by seller
PB:
PB 2% of one month
shipment (if seller cannot ship in 60days, Buyer can get this PB rate as
penalty)
PAYMENT TERMS:
Irrevocable, Transferable (or Non transferable),
Revolving Letter of Credit, Issued and confirmed by one of 50 WORLD
PRIME BANK 100% at sight. If not revolving LC, Buyer issues the Bank
Guarantee (BG) for the value of one (1) months delivery.
INSPECTION:
SGS for Quantity and Quality
DESTINATION PORT:
Any Safe World Port, to be determined by Buyer
DELIVERY PERIOD:
30 to 45 Days after receipt of Operative LC/BG
for the First Shipment and 30 Days for subsequent shipments
PROCEDURES:
Procedure shall be in accordance
with the chronological procedure and rules promulgated by the
International Chamber of Commerce (ICC), Paris, France for the sale and
purchase of crude oil and petroleum products.
A. GENERAL PROCEDURE
{1}
Buyer will submit LOI along with soft probe authentication letter.
{2} After approval by
the Seller, Seller issues a FCO with draft contract.
{3} Buyer will return signed contract via
scanned email attachment within 48 hours.
Otherwise the Draft Contract will be null and void and a new Draft
Contract will have to be got.
{4} Seller will
countersign contract and return to buyer via scanned email attachment.
{5} The buyer shall
issue non-operative Letter of Credit in favor of the Seller¡¯s bank a
account valid for 13 months. The Buyer¡¯s Bank
should be a top 25 World Bank.
{6} Not later than three(3) international
banking days , Seller issue operative
Performance Bond for amount of 2.0% of one month shipment value to
Buyer¡¯s
Bank valid for 13 months
{7} Seller bank response
and swift PROOF OF PRODUCT to Buyer bank. From the date
of operative Performance Bond 2% receipt in
Buyer?™s Bank, The Letter of Credit
shall be
activated automatically.
{8} Buyer inspects Loading (if necessary).
{9} Shipment commences.
B. POP/POF VERIFICATION PROCEDURE
(If buyer requires seller's POP before LC issue,
the procedure should be processed on following condition.)
{1} Buyer will submit
LOI along with soft probe authentication letter.
{2} After approval by the Seller, Seller issues
a FCO with draft contract.
{3} Under seller¡¯s acceptance and the Buyer
send Bank Comfort Letter of one
month shipment
amount value to the Seller.
{4} The Seller send contract to the Buyer. The
Buyer executes Contract with
authorized
Signature and Seal, sigh-lighting any desired changes, and e-
mails back to Seller with the Buyer L/C banking
information.
{5} Seller
will countersign contract and return to buyer via scanned email
attachment.
{6} Not
later than 48 hours from the date of sign contract, Seller¡¯s Bank
forwards
Proof of Product (POP).
{7} The buyer shall
issue non-operative Letter of Credit in favor of the Seller¡¯s bank
account valid for 13 months. The Buyer¡¯s Bank
should be a top 25
World Bank.
{8} Not later than
three(3) international banking days , Seller issue operative
Performance Bond for amount of 2.0% of one month
shipment value to Buyer,
Bank valid for 13
months
{9} Seller bank
response and swift PROOF OF PRODUCT to Buyer bank. From the
date of operative Performance Bond 2% receipt in
Buyer¡¯s Bank, The Letter of
Credit shall be
activated automatically.
{10} Buyer inspects Loading (if necessary).
{11} Shipment commences.
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