Iron Ore

Iron Ore


ORIGIN PERU 62% $90,00 USD $122 USD
ORIGIN CHILE 62% $95000 USD $125 USD
COMMISSIONS X MT $2,50 USD $2,50 USD
CIF PRICES ASWP

Procedures

The buyer issues a letter of Intent (LOI) or an irrevocable corporate purchase order (ICPO).
Seller issue a complete Corporate Offer(FCO).
Buyer signs and stamps FCO page and returns to the seller.
The seller issues a draft of the sale agreement (SPA) that will incorporate the terms and full conditions.
Buyers signs and stamp Each SPA page and return it to the seller.
The seller completes the SPA, signs and stamps it and issues a PROFORMA INVOICE.
Buyer's Bank issue DLC verbiage, which the seller's Bank reviews and approves.
The seller will send the "Product Test" within 5 working days after the issuance of the draft MT705. The test includes: a) Recent SGS report. b)the asset certificate. c) manufacturing brochure.
Within 3 international banking days, the buyer's bank issues irrevocable, transferable SBLC/MT760 and DLC/MT700 confirmed to the seller bank (of the top 50 banks)
The buyer will be invited to the port of loading for inspection during loading at the buyer's expense.
Shipments will begin within 35 to 45 days of SBLC/MT760- DLC/MT700 approval by the seller's bank.
All original documents will be sent to the buying bank via the selling bank via DHL.
The buyer's bank makes payment to the seller's bank immediately after loading the material and an SGS report from an independent SGS appraiser is provided.