IRON ore multi-Mineral Mining

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Posted by emtagran on September 11, 2003 at 21:14:10:

EMTA GROUP OF COMPANIES

Chenai, Tamil Nadu, India.
emtagran@vsnl.com
skuin@37.com


FAX +914422348819
+913412253719

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Sub:Letter of Intent Confirmation to purchase Iron Ore

Ref No:EMTA/2003-04/61-62.5 dated 4.09.2003

We refer to your e.mail .We would like to make our following offer on FOB Paradeep/Haldia, East Coast Port, India, basis with the terms and Conditions as following:

50,000 MT per month of Iron Ore Fine(size-10mm) from our Mines for a period of 1year(12 months).

Commodity: Iron Ore Fine.

For Grade A I: Fe-61% Fe , Al O -4.50%max.; SiO -2.5% max.; Phosphorus-0.05% max.; Sulphur-0.004% max.; Loss of Ignition-3.4%; Moisture % -9.0 Avg.

For Grade A II: Fe-62.5%Fe , Al O -3.0%max.; SiO -2.0%max.; Phosphorus-0.05%max.; Sulphur-0.002%max.; Loss of Ignition-3.4%; Moisture % -9.0 Avg.

As a part of the capacity enhancement plans, the Company intends to set up contract with two separate buyers for the yearly production and split and distribute among more the 2clients depending on price and qty to be purchased .

1) Price : EURO 25.50 (EURO Twenty Five and Cents Fifty only) PMT

FOB Paradeep/Haldia , East Coast Port, India.

2) Delivery within 45/60 days from receipt of your confirmed Letter of Credit.

1st shipment around December 2003.

Quality/Quantity : 1) Quality Certificate will be issued by SGS (I) Ltd.

. 3)Quantity Surveyed and certificate issued by SGS (I) Ltd at the Load Port is final

4) Penalty : penalty should be calculated at USD 0.4375% per DMT Unit of the Fe content for the part below

5) Payment : Against irrevocable, confirmed, transferable Letter of Credit payable at sight for 100% value to be established through any of the Foreign Bank who has got banking operations in India or an advising bank who would effect payment against submission of documents in India itself to our Bank.

7) Insurance : Buyer’s account

GENTLEMEN WOULD PLEASE SEND YOUR CONFIRMATION WITH FOLLOWING DETAILS ENABLING US TO CONCLUDE OUR DEAL. 1) COMPANY BUYERS NAME 2)HIPMENT-QTY AND TOTAL CONTRACT-QTY 3) DISCHARGE PORT 4) TARGET-PRICE 5) PERIOD OF CONTRACT .

We look forward to receive reply from SERIOUS buyers or agents having mandate

Best regards,

EMAIL: - emtagran@vsnl.com , MOB- +91-98312 80063, +91-94340 02299

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Procedures:

1. Buyer or Buyer’s Mandate issues LOI (original hard copy).

2. Seller provides FCO with Soft Contract, Buyer confirmed FCO / Soft Contract and presents the information of the consignee and destination port details.

3. Seller provides Loading port name, beneficiary and the Banking details.

4. Both party confirm the contract and L/C conditions and term.

5. Both party sign the hard copy of the contract.

6. Buyer issues the CONFIRMED irrevocable confirmed revolving operative L/C .

7. First shipment shall be dispatched within 60 days after the L/C receipt.


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To be typed on the Buyers Letter Head

We hereby state that we are ready, willing and able to purchase the following commodity
as specified below and that funding is available.

Commodity
Quantity
Origin
Specification
Test weight
Moisture



Impurities

Foreign Matter

Payment 100 % fully funded irrevocable, transferable, confirmed Documentary Letter of Credit (DLC) at 100 % sight of Prime bank
Inspection at load port at sellers account
Destination Port & Country
Delivery terms (state which month delivery required)
Size of Shipment (single / partial)
Packing (bulk / bagged)
Currency
Price
buying Terms ie (FOB / C&F / CIF)
Nominated port
Today's date


Name of Your Organisation
Address
Name of Your Country
Your Phone Number
Your ISD Code
Your STD Code


Signed

affixed with company seal

Name of Signature
Email:



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