RAAR Group USA LLC
30 N. Gould Street, Suite 3253
Sheridan, WY 82801
Ph: 307-219-1560 Fax: 307-363-5298
CAGE Code: 9D4L5
Signatory: Rick Schotts
Email: rick.raargroup@gmail.com
Established Since 1985/Veteran Owned
www.raargroupusa.com
SPOT BUY 512,750 MT /380,000 MT ICUMSA 45
DOMINICAN REPUBLIC
1) Buyer issues ICPO, CIS and POF
2) SGS is immediately provided to the Buyer upon receipt of the ICPO, CIS and POF
3) *Signature of the Sales Contract*: Both parties sign a *spot* sale contract to formalize the agreement for the specific load of 512,750 MT or 380,000 MT. The contract included all payment and delivery conditions, as well as provisions for visual verification and existence of product.
4) *IOLTA and Deposit of Funds*: At the same time as the signing of the sales contract (SPA) and CI, 30% of the total amount of the transaction is to be deposited into an IOLTA account.
5) *Visual Verification of Product Existence*: After the receipt of the 30% deposit into the IOLTA account, the Buyer has the right to a visual verification of the existence of the product. To carry out this on-site verification, the customer signs a confidentiality agreement (NDA). All costs for verification (travel, authorizations, companions) are the responsibility of the Buyer.
6) *30% Payment upon Product Viewing*: After visual verification of the existence of the product, the Buyer authorizes the release of the total payment from the IOLTA to the Seller.
7) *Final Balance of 70% Before Departure*: The remaining 70% is paid once the Buyer has received all loading documents, including the Bill of Lading (BOL). This balance is to be completed before the departure of the goods from the port.
8) Pricing is as follows: Price for 512,750 MT Spot is $485.00/MT; Price for 380,000 MT Spot is $505.00/MT and DDP is available for an additional of $250.00/MT.
