IRON ORE INDIA

Price:

CNF USDxxx.00

Quantity Order:

Payment Method:

L/C

Quantity:

480,000Mtons

Pack. & Delivery:

Bulk

SOFT OFFER
IRON ORE SINTER FEED
Minimum Fe 64.5%
( Rejection below: 63.5% )
AUGUST 2011
ORIGIN BRAZIL

QUANTITY
MINIMUM QUANTITY
50.000MT x 12

DELIVERY & PORT OF DESTINATION
DELIVERY SHALL BE CIF MAIN PORT CHINA COMMENCE WITHIN A MAXIMUM OF 30-45 DAYS AFTER RECEIPT OF AN OPERATIVE LETTER OF CREDIT ( “ LC� ) FROM THE BUYER’ S BANK, ACCEPTABLE TO THE SELLER

WEIGHT, QUALITY AND INSPECTION
SOCIETE GENERALE DE SURVEILLANCE ( SGS) AT SELLER’ S COST SHALL INSPECT COMMODITY AT THE PLACE OF LOADING. SGS SHALL ISSUE AN INSPECTION CERTIFICATE OF QUALITY AND QUANTITY FOR EACH SHIPMENT TO CERTIFY THAT THE GOODS ARE IN GOOD ORDER AND CONDITION AND BEING CONFORM TO THE SPECIFICATIONS HEREIN STATED. SGS REPORT OF WEIGHT, QUANTITY AND QUALITY

PRICE
USD xxx, 00MT CIF MAIN PORT CHINA

MINE VISIT
Buyer may visit the mine which will be supplying the Iron Ore at Buyer’ s own expense, within 10
banking days after signing the Contract and before issuing the non-operative LC.

TERMS OF PAYMENT
SHALL BE EFFECTED THROUGH AN IRREVOCABLE, NON TRANSFERABLE, REVOLVING DOCUMENTARY LETTER OF CREDIT IN USD DOLLARS, SUFFICIENT FOR 100 % AT SIGHT
PAYMENT FOR EACH SHIPMENT, NEGOTIABLE AT ANY BANK AGAINST SGS REPORTS AND SHIPMENT DOCUMENTS ISSUED AT PORT OF LOADING.
LC 98% OF IT WILL BE PAID AFTER B/ L, AND BALANCE OF 2 % WILL BE PAID AFTER CIQ CERTIFICATION, WHICH CANNOT BE MORE 10 DAYS.
THE PRICE WILL BE REVIEWED AND MUTUALLY NEGOTIATED ( UP OR DOWN) EVERY THREE ( 3) MONTHS, ADJUSTMENT WILL BE BY GLOBAL IRON ORE MARKET PRICE AND SHIPPING FRIGHT RATES.
THIS REVOLVING DOCUMENTARY LETTER OF CREDIT IS SUBJECT TO THE UNIFORM RULES AND PRACTICE FOR DOCUMENTARY CREDITS UCP 500 ISSUED BY I.C.C. PRIOR TO OPENING OF THE LETTER OF CREDIT SELLER SHALL RECEIVE THE WORDING OF THE DOCUMENTARY LETTER OF CREDIT FOR VERIFICATION BY THE SELLER' S BANK TO AVOID UNNECESSARY BANK – CHARGES. LC VALIDITY SHOULD BE UP TO END OF SHIPMENT PLUS ONE MONTH OF SHIPMENT TIME.

PERFORMANCE BOND
Performance Bond ( PB) will be replaced by a penalty clause fixed in 1% per week delayed in the delivery. Banks in Brazil does not issue PB anymore. The buyer is welcome to visit the mines before any Instrument is issued. Buyer will issue Non operative LC, seller will surrender SGS and BL after loading, thereafter the Non operative LC will become operative.

SPECIFICATIONS
Specification of Iron Ore & Quality Inspection Certificate
The Specifications for the Product shall be as set out below: -
Specification: Sinter Feed
Minimum Fe 64.5% ( Rejection below: 63.5% )

COMPOSITION
ON DRY BASIS, PERCENTAGE BY WEIGHT
• Fe 64.5% , rejection below 63.5%
• Al203 1.4% MAX, rejection above 2.00%
• Si02 2.08% MAX rejection above 3.5%
• P 0.030% MAX rejection above 0.06%
• K2O 0.020 % rejection above 0.06%
• CaO 0.02% MAX
• MgO < 0.1% MAX
• Na2O

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