HMS 1&2, ISRI code 200~2006
PRICE: HMS1&2 (80:20)CIF TO ASWP ISRI CODE 200-206
1. Minimum Quantity: 30,000MTX12 MONTHS at 270USD Per MT
60,000MTX12months at 265USD Per MT
90,000MTX12months at 262 USD per MT
Maximum Quantity: 120KMT & aboveX12months at 260USD Per MT
included 1.0USDPMT C and allowed 12,5% overprice as additional commissions.
3. Discount: FIXED PRICE
4. Payment: Letter of Credit with deposit via TT or LC payable on demand against signed
commercial invoice for one month shipment value required
5.Performance Bond: 2% PB of Shipment Value
6.Origin & Loading Port: Port of Western Europe or North America(Seller option)
7.Destination Port: Any Safe World Port
9.Shipping Schedules: will be shipped within 30~45 days after payment Instrument(DLC) activated
10.VISIT:After Signing the Final Contract and the seller Bank accept the L/C issude by buyer's bank, Buyer are invited to go to see the goods at the loading port and the scrap Yard at the same time as the SGS inspection at loading port paid by the seller
11.SGS Inspection:by seller
12.Seller standard terms are Non-negociable, The procedure and payment terms must be followed to move forward
13. Commission rate: 1.0USD for all buyer side and 12.5% of the overprice as additional commissions after contract in the NCNDA+IMFPA by the seller
according to this contract after commodity contract
The following documents will accompany the Goods on delivery or contract meeting at seller office:
2)SGS Certificate included the certificate of weight and quality
3)Certificate of AQSIQ
4)Certificate Origin issued and endorsed
TERMS AND PROCEDURES:
All orders must be accompanied by a completed Letter of Intent (LOI) template
We offer three contract types:
1. Annual Contract (payment via LC - 1 month shipment deposit required)
2. Spot Contract (payment against OBOL/Commercial Invoice)
3. Revolving Spot Contract (revolving Spots with price locked in for term)
1.ANNUAL CONTRACT - Procedures (deposit required)
1) Buyer completes and returns LOI as per the template provided.
2) Seller provides FCO, Full Contract (valid for 3 days), Deposit Invoice (one month deposit required) and accompanying documentation.
3) Buyer must sign the contract and send to the Seller for signature. The Seller will
countersign the contract and send back to the Buyer via email executing the transaction.
4) The Buyer’s Bank will be issue the operative Letter of Credit under Appendix 6 along with the Deposit (one month shipment value) under Appendix 7 or Appendix 8 within 5 days of contract execution by both parties. Deposit is backed by 100% Corporate Performance Bond Guarantee.
5) After reception by Seller of the Letter of Credit and verification that the LC matches the contract terms, the secondary Performance Bond (issued by seller as SBLC or Bank PB of 100%) automatically becomes operative at the time of the first billing to the LC.
6) The First shipment will commence no later than 45 (forty-five) days from date issued of the operative Letter of Credit. The remaining consignments will be shipped in each 30 (thirty) day periods as defined in the Appendix.
7) Effect of payment for each consignment shall be effected within 3 (three) banking days after receipt by the Sellers Advising Bank of all documents required for payment.
If total contract value is $90,000,000 USD over 12 months Deposit is $7,500,000 USD
Contract Balance is $82,500,000 USD
Monthly Deposit credit is $625,000 USD
Monthly payment will be $6,875,000 USD
Note: In case of contract termination, 30 days written notice required and the remaining deposit will be credited toward the final monthly shipment.
2. SPOT CONTRACT - Procedures (payment against documents)
1). Buyer completes and returns LOI as per the template provided.
2). Seller provides FCO, Full Contract (valid for three days) and accompanying
3). Buyer must sign the contract and send to the Seller for signature. The Seller will
countersign the contract and send back to the Buyer via email activating the Contract and 100% Corporate Performance Bond.
• Payment via TT or Cashier’s Check against Original OBOL and Commercial Invoice
a) The Seller will schedule table top closing in USA / Canada where Seller will exchange the Commercial Invoice and Original Ocean Bill of Lading for TT/MT103 Unconditional Transfer or Cashier’s Check from USA bank.
b) After reception by Seller of the Buyer’s funds and verification that the amount matches the contract terms, the 100% Corporate Performance Bond automatically becomes operative, Original OBOL is released to buyer and shipping commences.
• Payment via TT against Uncitral OBOL and Commercial Invoice
a) Seller sends Uncitral (digital) copies of OBOL and Commercial Invoice to buyer via
email. Buyer has five (5) days to send payment via TT/MT 103 Unconditional Transfer.
b) After reception by Seller of the Buyer’s funds and verification that the amount matches the contract terms, the 100% Corporate Performance Bond automatically becomes operative, Original OBOL is sent to buyer and shipping commences.
3. REVOLVING SPOT CONTRACT - Procedures (price locked in for 12 months)
A Revolving Spot Contract is the equivalent of 12 consecutive Spot Contracts with the price locked in over the term. The procedures are as per the above Spot Contract procedures.
Offer Validity: 15 days after sending the SCO to the inquires