Lithium - Origin Mali
SELLER MANDATE DETAILS: Bright Commodity International
I. PROCEDURES:
1. Buyer sends LOI/ICPO with full banking details and soft probe authorization.
2. Seller sends FCO to the Buyer.
3. Buyer signs, stamps and returns FCO.
4. Seller sends Sales & Purchase Contract.
5. Buyer signs, stamps and returns Contract.
6. Seller Issues the Invoice.
7. After 5 days, Buyer’s Bank issues Irrevocable Document Letter of Credit confirmed and irrevocable.
8. Seller’s Bank verifies and confirms Irrevocable DLC
9. After 7 days Seller’s Bank delivers POP issued by SGS or equivalent
10. Buyer will have access to storage facilities and port of freight terminal
11. Shipment will occur approximately 10 days from loading port after Confirming Irrevocable DLC
SELLER MANDATE DETAILS: Bright Commodity International
II. Transaction Details:
Commodity: LITHIUM CONCENTRATE
Origin: Mali
Specifications: Li2O CONTENT 3.5% to = ⩾ 5,5%
Packaging: Bulk 20ft container
Buyer: ????
Target quantity: Up to 30,000 metric tons per annum
Trial Quantity: 240MT +/- %5
Equivalent target monthly quantity is 2,400 metric tons (MT)
1 to 3 years contract with rolls and extensions (up to 5 years)
Transshipment: Not allowed
Partial Shipment: Allowed
Valuation standard: Dry metric ton of valuation
Destination: FOB Dakar/Port
Shipment: to be advised by the Seller and approved by Buyer
First order: First order to be delivered at the earliest Seller’s and Buyer’s convenience
Price: USD $ LME -%10
Guarantee:
1. Trial Shipment to be settled by T/T payment after CIQ inspection or independent inspection.
2. Ongoing shipment: Irrevocable Documentary Letter of Credit (FOB)
Contract Format: INCOTERMS 2020
Inspection: Quality and Quantity (Q&Q) by SGS or equivalent at loading port with supervision of buyer
Trial shipment FOB
Payment: destination port (FOB) on trial ongoing on CIF destination Port.
DLC to be settled by T/T payment after CIQ inspection or independent inspection at
Bank: Any approved Bank
1. Agree and sign the term sheet describing the principal terms and conditions of the contract
2. Review the draft contract proposed by Supplier
3. First Trial: Payment FOB - to be settled by T/T payment after CIQ inspection or independent inspection at FOB port.
Sign the contract and issue the DLC and/or other mutually agreed upon payment guarantees
4. Supplier delivers the commodity and Buyer pays the Supplier accordingly.
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