Specification :

Letter of Intend (LOI) /SAMPLE/

This page contains an example of Letter of Intend (LOI).

(To publish this document here we have used various sources both online and off-line - last updated in May, 2004.)

Letter of Intend (LOI) SAMPLE (details can significantly differ)
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L E T T E R H E A D
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We, ________________, confirm with full legal and corporate responsibility under penalty of perjury, that we are ready, willing and able to buy ________MT of _______under the following terms and conditions:
1. PRODUCT:
2. ORIGIN:
3. SPECIFICATIONS:
4. PACKING: In bulk
5. INSPECTION: (By S.G.S. at loading port, on Seller's account. - [only if mentioned in the offer])
6. QUANTITY:
7. DELIVERY: Port of ______- first shipment shall be within 30 days after the receipt of L/C by your bank.
8. MODE: FOB/C&F
9. PRICE: US$ ____/ MT
10.PAYMENT: (Irrevocable, Transferable, Documentary Letter of Credit, opened or confirmed by a Western European bank acceptable to Seller, and payable 100% at sight against presentation of shipping documents, for the entire contract value of
11. PERFORMANCE BOND: % of contract value of each shipment)
12. DOCUMENTS: (Following documents are requested to be presented for payment on shipment:
a) Clean on board bill of lading marked "freight prepaid" and blank endorsed.
b) Certificate of weight and quantity issued by S.G.S. or comparable
c) Certificate of origin issued by or endorsed by Chamber of Commerce of the country of origin.
d) Signed commercial invoice.
e) Master's receipt of all documents except commercial invoice.
f) Weight/packing list).
13. PROCEDURES:
a) Buyer issues LOI
b) Seller issues proforma
c) Buyer signs and returns proforma
d) Seller and buyer sign contract
e) Buyer instructs his bank to KTT to Seller's bank re proof of funds;
f) Seller shall instruct his bank to KTT to Buyer's bank re proof of product and % PB to be operable upon receipt of LC;
g) Buyer's bank opens LC;
h) First shipment commences within 30 days.
14. BANKING COORDINATES: Documentary letter of credit to be opened by:
Name & Address of Bank ________________________
Officer:_____________
Tel No.________Fax No.________
Telex No________Swift Code_________
Buyer's Account No___________
Name and address of confirming prime bank
We look forward to receiving Seller's proforma offer.
Yours sincerely
_______________