Baliholmes house (whlse. clearing), *域名隐藏* 'l., Pte ADD: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx TEL: xxxxxxxxxx FAX: xxxxxxxxxxx LETTER OF INTENT CP: Peyton Jones Fax xxxxxxxxxxxxx Email: xxxxxxxxxxxxxx We have an Indonesian steamed coal contract offer: COMMODITY: Steam Coal ORIGIN: Indonesia QUANTITY: 40.000 MT- 60.000 MT /Month (+/-10%) SPECIFICATION: As per attached per below DURATION: 12 Month INCOTERMS: FOB basis PRICE: 32 USD/MT FOB Mother Vessel include export docs LOADING RATE: 6000 Mts per day WP SHINC LOADING PORT: Anchorage Tan Jung Petang, Kalimantan SHIPMENT: 45 days after seller receives Bank Guarantee, PERFORMANCE BOND: 2% Issued By Seller’s Bank DELIVERY: First shipment 50 (Fifty) days after receive LC - Second and following Shipment/month PAYMENT : Irrevocable, Transferable, Unencumbered, Unconditional, Revolving Documentary Letter of Credit payable 14 (Fourteen) days at sight upon presentation of shipping documents. Documentary Letter of Credit is to be confirmed by a Prime World Bank. INSPECTION: By *域名隐藏* NDO corporate with SGS (seller’s expense) AT LOADING PORT [in accordance with Method: Chemical Analysis ASTM E 246-1991]. Product acceptance conditioned to accordance with *域名隐藏* NDO International Inspection Agency’s certificate must be performed at the moment of loading resulting in coincidence with weight, specifications. COLLIERY VISIT: Will be done after issue a letter of credit only CONTRACT PROCEDURES 1. Buyer issue LOI & BCL 2. Seller issue FCO 3. Buyer signs, stamps and returns the Full Corporate Offer accepting the terms and conditions and price. 4. Seller issues draft contract for the Buyer to approve and sign. 5. Buyer signs, stamps and returns the draft contract which will be deemed as originals until hard copies are exchanged. 6. Seller issue 04 (Four) sets of hard copies, which will be sent to the Buyer via International Courier Service for signature. 7. Within 3 working days after signing Contract Agreement Buyer Bank issue PREADVICE Letter of Credit to Seller bank coordinate 8. Seller approved the content of the Pre advice Letter of Credit 9. Seller issue Letter of credit 10. Shipment commences as mentioned in the contract. 11. Inspection by buyer THIS FCO IS OFFICIALLY TAKEN AS A CONTRACT BINDING THE BUYER AND THE SELLER WHEN SIGNED AND SEALED. HENCE A PENALTY OF 10,000.00 USD FROM THE BUYER IF FAILS TO PROVIDE THE FINANCIAL INSTRUMENT AFTER THE CONTRACT, FOR THE FACT THAT THE SIGINING OF FCO AUTOMATICALLY PUTS THE CO***NY TO INITIATE PRODUCTION BEFORE THE CONTRACT IS IN PLACE.
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