Neca Trading Corporation, INC.
7312 Elmwood Avenue, Philadelphia, PA 19142
Phone: 215 492 7751. Fax: 215 492 7752
netracobiz@yahoo.com
Tuesday, June 14, 2005
LETTER OF INTENT
Dear Sir,
We, NECA TRADING CORPORATION, INC hereby confirm
with full legal and corporate responsibility and under penalty of
perjury that we are ready, willing and able to enter into a contract for
the purchase of the following commodity as specified below and that
funding is available including any import/export permits needed to
fulfill this purchase:
THE PRODUCT: White long
grain Rice, 25% Broken.
ORIGIN: ASIA, SOUTH
AMERICA, OR USA ETC.
SPECIFICATIONS:
BROKEN KERNELS: 28.0% MAXIMUM
MOISTURE: 14% MAXIMUM
YELLOW KERNELS: 0.05% MAXIMUM
CHALKY KERNELS: 8.0% MAXIMUM
DAMAGED KERNELS: 2.0% MAXIMUM
SMALL BROKEN: 2.0% MAXIMUM
FOREIGN MATTER: 1.0% MAXIMUM
MILING DEGREE: REASONABLY WELL MILED.
SHIPMENTS: 12,500MT
DESTINATION PORT: ASWP
PAYMENT INSTRUMENT: The payment term will be
Fully Funded Documentary Letter of Credit (FFDLC)
SHIPMENT: The shipping term shall be CIF.
QUANTITY: 100,000 Metric Tons. (One hundred
thousand metric tons)
DESTINATION: CIF ASWP (as
per attached Shipping Schedule)
CONTRACT
DURATION: Up to 8 months.
PACKING: 50 Kg. PP
bags.
TARGET PRICE: $ 207.00 USD/MT CIF basis
with US$2.00 commission.
TERMS OF PAYMENT:
Irrevocable, Confirmed, Non-transferable LC 100% payable at sight.
PERFORMANCE BOND: 2% from Sellers.
Best Regards.
Daniel W.
Nankay, Sr
President/CEO.