Import Export Trade International .Ltd
> Copper Cathodes Cu
Description:
25Mt + 3,000 MT per month / CC / CIF / Price = 80%LME
Ø COMMODITY: Copper Cathodes (Cu)
Ø QUALITY: 99.99% PURE (non LME registered) Grade A copper cathodes and Conforming to LME standards. Dimensions of 914mm x 914mm 12mm (See Annex at the end)
Ø TYPE OF CONTRACT: Annual Contract
Ø INCOTERMS: CIF
Ø PRICES, QUANTITIES: Best price of world cheapest
The price of each shipment will be LME cash buyer price, less the agreed discount on the date the Bill of Lading is issued. Invoice for actual price to be issued to the buyer.
n 25 Mt is admitted as a test, and then, if everything well:
n 1,000MT * 12 months ; Gross Price per Mt: LME less 10% ;
n 3,000MT * 12 months ; Gross Price per Mt: LME less 20% ;
n 5,000MT * 12 months ; Gross Price per Mt: LME less 25% ;
PACKING: The copper cathodes are packed in bundles of 2.5 MT each that are loaded in 20 foot containers (20MT each).One plate weights apr. 90 kgs.
Ø DISCHARGE PORT: Morocco or Tanger.
Ø PERFORMANCE BOND: 2%
Ø INSPECTION: Inspection of the product will be confirmed on a certificate issued by the Independent International Survey Company “SGS”,CIQ, CCIC at Seller’s expense.
Ø TERMS OF PAYMENT:
a. Payment to be guaranteed by an Irrevocable, Transferable SBLC issued via swift MT760 or Bank Guarantee (BG) by a recognized prime bank, (Confirmation of Funds). Payment by 100% swift transfer within 10 days of arrival & re-inspection of goods at destination port by SGS or its equivalent.
b. Upon signing of the contract, the BUYER shall submit a copy of the contract together with relevant documents required by their bank to start the Bank-to-Bank process and issuance of the required NON-transferable, non operative SBLC/BG. The BUYER’S banking coordinates and instructions shall be given as part of the documents to be submitted to the SELLER’S Bank.
c. Currency. Both Parties hereto hereby agree that the currency for the payments for goods under this SPAC shall only be that of United States Dollars.
d. No Documents of any kind will be sent to the buyers prior to issuing of the financial instrument being sent to the sellers and approved buy the sellers bank.
e. Upon Buyer’s Bank issuance of the NON- OPERATIVE TRANSFERABLE SBLC/BG via Swift MT760, the Seller’s bank shall issue the 2% Performance Bond and POP via Swift to activate buyer’s SBLC/BG.
f. Payment for the goods will be effected by swift transfer within Ten days of goods arrival, presentation of shipping documents and final inspection at the declared destination port. After the banking instrument is opened the buyer is invited to the port of loading to inspect the material.
Standard BUYER's PROCEDURES
1. The buyer issues LOI (Letter of Intent) with a company profile. If buyer sends ICPO then go to #3.
2. The Seller issues the FCO, the buyer signs and sends it back with BCL and full banking information
3. The seller issues the Draft Contract, along with MT760 text for Buyer’s approval.
4. The buyer signs and returns the Draft Contract.
5. The seller issues the Final Contract.
6. No Documents of any kind will be sent to the buyers prior to issuing of the financial instrument being sent to the sellers and approved buy the sellers bank.
7. The buyer’s bank shall open via SWIFT MT760 Confirmation of Funds to the seller’s bank within 7 banking days after Final Contract is signed.
8. The seller’s bank within 3 banking days after receiving the MT760, will issue 2% PB and the POP via SWIFT to the Buyer’s Bank.