PRODUCT NAME AND SPECIFICATION
Product: Iron Ore Fines (62 % - 67% FE) Monthly Delivery: First Trial 50,000 MT (+1- 10%) 62% Fe, ramping up to 500,000 MT (+1-
10%) per month over 6 months period at Seller's option. Origin: Chile
Duration: After first successful trial of 50,000 MT +1- 10%, monthly quantity and
Fe content quality to be mutually agreed for subsequent shipments, for a period of 12 months with open option rolls and extension. Delivery: CFR CHINA PORT (S) Cargo survey: SGS inspections at loading port at Seller's expenses. Price: First trial shipment 50,000 MT: PLATTS 62% Fe IRON ORE CFR North
China index minus USD 2 per MT
Subsequent shipments: Appropriate PLATTS Index IRON ORE CFR North China index minus USD 2 per MT
Method of Payment: First trial shipment: Irrevocable Bank Guarantee MT 760 or SBLC (valid for 90 days for trial shipment) issued to Seller's nominated bank as beneficiary, subject to acceptance of Buyer's Bank by Seller's bank. Payment to be made via Telegraphic Transfer MT 103 to Seller for 100% cargo value basis loading port documents at sight within 24 hours after CIQ report is released at Discharge Port. GROWTH i STABILITY I STRENGTH
CAPROCK
COMMODITIES
Subsequent shipments: Irrevocable Bank Guarantee MT 760 or SBLC (valid for 13 months for subsequent shipments) issued to Seller's nominated bank as beneficiary, subject to acceptance of Buyer's Bank by Seller's bank. Payment to be made via Telegraphic Transfer MT 103 to Seller for 100% cargo value upon presentation of loading port documents. Specifications and information: As per APPENDIX C PROCEDURES
1. BUYER CONFIRMS DETAILS IN FCO AND COUNTER-SIGNS
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