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Offer for Copper Millberry Scrap

Please find below the offer for Copper Millberry Scrap, from the Seller.



Buyer is expected to issue LOI addressed to “End Seller” with the following terms and conditions.



Product



Copper Millberry Scrap



Product Origin



Africa



Loading Port



Seller’s choice



Unloading Port



Any Safe World Sea Port of Buyer’s Choice



Product Price



CIF sales terms to buyer: LME minus 15% (Fifteen Percent)



Price Determination



LME published price on Five (5) days average, prior to issuing of the Buyer’s financial instrument.



Payment Guarantee



Irrevocable, Non-Transferable, Auto Revolving, Confirmed, Documentary Letter of Credit (MT700) payable at Sight, as per seller approved draft.



Performance Bond



2% (Two Percent) to be issued by Seller, after the letter of Credit (MT700) is received from Buyer.



MOQ



1000 MT (Five Thousand Metric Tons) per Month for 12 Months



Price adjustment



By mutual negotiation if copper percentage varies slightly acceptable to the buyer using fraction pro-rata formula.



Product Delivery



A delivery order will be confirmed upon acceptance and confirmation of letter of Credit (MT700) at Seller’s designated bank counter.



Commission



2% (Two Percent) split equally between buyer and seller side, payable by Seller. Seller side is closed and Buyer side is open. Bens Group is here with 1/3



TRANSACTION PROCEDURE



a) Buyer issues LOI



b) Seller issues Soft Offer



c) Buyer Issues ICPO with full banking details



d) Buyer & Seller Exchange POF & POP Bank to Bank (POP follows POF).



e) Seller Issues Draft Contract Open for Amendments



f) Buyer and Seller agree to amendments in the draft contract, after which buyer signs the contract.



g) Seller countersigns the sales contract and shares final executed contract with buyer by e-mail, in pdf format.



h) Buyer & Seller lodge their final executed contracts with their respective banks.



i) Buyer Issues Letter of Credit (LC) draft to seller to verify through their bank within 5 (Five) banking days from receipt of the Signed contract by Seller, via Email.



j) Seller declares acceptance or amendments to the LC within 3 (Three) banking days and sends buyer the final approved draft.



k) Buyer issue ‘Non-Operative’, Irrevocable, Non-Transferable, Auto Revolving, Confirmed Documentary Letter of Credit (MT700), within 3 (Three) banking days, after draft LC is approved by Seller.



l) Seller Issues 2% (Two Percent) Performance Bond, which makes the LC ‘Operative’ within 4 (Four) banking days, after buyer issues the Non-Operative L/C.



m) Seller appoints SGS or equivalent international inspection agency to generate a report on quality and quantity at the loading port, the costs of which will be borne by the Seller. Buyer may inspect the cargo at loading port, at their own cost.



n) Seller ships the consignment to destination port and submits all documents to Buyer’s bank for Payment.



Note –



§ NCNDA & IMFPA will be signed immediately after Buyer and Seller sign the Contract.



§ If buyer ready to issue Transferable LC, Seller will offer higher discount and commission.

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