Download LETTER OF INTENT

BUYER’S LETTERHEAD
ICPO
January 20,, 2015
To: End Seller
c/o Sam Robles and Larry Fox
1157 Countryside Lane
Bloomington, Indiana 474303
USA Phone: 812-332-4045
www.foxinternationaltraders.com
Skype; larry.fox7
Fox Trading Co.
We, End BUYER__________________, hereby state and represent that it is our
intention to purchase, and we hereby confirm that we are ready, willing and able
to purchase the following commodity as per the specification and in the quantity
and for the price as specified in the terms and conditions as stated below.
This representation is made with full corporate authority and responsibility of the
above. We understand that any and all offers and/or contracts are subject to
successful seller verification of funds availability. We hereby give our permission
for the seller to conduct a soft probe of our account as listed below.
COMMODITY: ICUMSA 45 WHITE, REFINED CANE SUGAR FIT FOR HUMAN
CONSUMPTION
ORIGIN: BRAZIL
SPECIFICATIONS: SEE BELOW
PACKING: 50 Kg Branded bags packed 1 / 1.5 / 2 MT in bulk in Jumbo sling
bags placed in containers.
QUANTITY: 22,000
SHIPMENTS: 2
DESTINATION PORT:
CONTRACT LENGTH: 3
PRICE: CIF USD 360/MT with Full BG or Full SBLC; price will vary with other
payment options. ARDLC is also available, depending on what type of financing
the Buyer can qualify for.
INSPECTION: Quality, Quantity, Weight, by SGS or Equivalent
Payments and Guarantee Terms: Contract
 Payment for the Guarantee: MT 103 or Letter of Credit DLC
Irrevocable, transferable, assignable, divisible for each and every
shipment, to be paid against presentation of shipping documents to
the buyer’s bank.
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BUYER’S LETTERHEAD
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Guarantee: Prime World Bank SBLC model annex, or irrevocable BG
(Bank Guarantee) format ICC 458 Top 25, operative transferable,
divisible, irrevocable confirmed, the value of one month of the
contract, or more as agreed between seller and buyer, valid until the
end of the contract, or with other options prices, as noted below.
Note: The 12-month Guarantee is paid monthly with either a MT 103
or DLC.
Payment Terms; Contract = Full Guarantee BG or SBLC
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Payment will be made in SBLC model to be sent, or BG operative
format ICC 458, in favor of the seller, issued by Top 25 World Bank,
available for the total value of the contract, valid for the entire period
of the same duration, i.e., twelve (12) months.
The buyer is free of monthly payments corresponding to monthly
deliveries made by the seller.
The last shipment delivery matches the liberation of the contract for
the total agreed price.
Instrument: Operative SBLC model to be sent in favor of the seller or,
BG (Bank Guarantee) operative, irrevocable, unconditional,
monetizable, format ICC 458.
Important Note:
As per agreement between sellers and buyers the document shall be
issued unconditionally by the buyers as guarantee, shall be free, as well as
unencumbered by the PB (Performance Bond) and BL (Bill of Lading),
and/or POP (Proof of Product), i.e., PB and POP will be issued by the
Seller’s bank within 10 banking days to the buyer’s bank, after opening of
SBLC or BG totally unconditional on behalf of the seller.
Procedures:
1. Buyer issues ICPO with Soft Probe permission.
2. Seller issues FCO, Buyer signs, seals, and returns it to the seller within 48
hours.
3. Seller issues sale and purchase Draft Contract. Buyer signs, seals, and
returns the contract; seller reviews it, signs it, and returns it to the buyer.
4. Seller and buyer exchange signed contract hard copies by express
courier.
5. If Option 2, buyer’s bank issues operative SBLC or BG (Bank Guarantee),
prime World Bank Top 25, free, irrevocable, confirmed, valid until the end
of the contract, valid for the entire period of the same duration, i.e., twelve
(12) months.
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BUYER’S LETTERHEAD
6. Within 10 working days, seller’s bank issues a 2% Performance Bond
(Annual contract only, not Spot), and 15 days thereafter seller’s bank
provides POP (Proof of Product) bank to bank. Note: The purpose of the
PB is to cover the cost of the BG. 15 days after receiving the PB, the
Buyer keeps the PB to do as he wishes; he can either use it to cover the
cost of the PB, or he can buy an insurance bond to insure the entire 12month transaction.
7. In 30/45 days, seller’s bank issues an invitation letter for inspection of
SGS or similar inspection company through its bank, and BL (Bill of
Lading).
8. Delivery starts as per contract terms and conditions.
Financial Instruments are as per UCP 600 Code and any revisions are as
set by the International Chamber of Commerce (ICC). Any deviation from
the above payment terms is subject to acceptance by the seller. Any
divergence without the approval of the seller will not be allowed in the
event that acceptance of the financial instrument is refused.
Specifications:
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Polarization: 99.80% degrees min
Ash by electrical conduct: 0.04% max (on dry weight basis)
Ash content: 0.04 max
Moisture: 0.04% max
ICUMSA 45 RBU: Max (Brazil S.G.S scale)
Solubility: 100% dry and free flowing
Color: Sparkling white
ICUMSA Maximum 45 attenuation index units (ICUMSA method #.: 41978)
Radiation: Within CS-137 of 50 BQ per kg
Granulation: Fine crystal
Crop: Latest
Magnetic particles: Mg/Kg 4 max
SO2 mg/kg 20 max
Sulfur Dioxide: 20 Mg/Kg min
Sediments: None
Smell: Typical and specific for sugar
Reducing sugar: 0.05% Max by weight
HPN Staph Aureus not detected in 1 gram
Maximum AS: 1 P.P.M.
Maximum PB: 1 P.P.M.
Maximum CU: 3 P.P.M.
Substance: Solid Crystal
Tolerance: 5% (+/-)
Fit for human consumption
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BUYER’S LETTERHEAD
 Crop: 2013/2014
Chemicals and insects: No radiation, no virus, no insect parts, no
poisonous matter. Product is non-genetic and is suitable for human
consumption.
Documents:
Commercial Invoice #
Bill of Lading #
Inspection Certificate by SGS #
Weight quality and issued by SGS
#
Certificate of Origin #
Packing list in triplicate #
Phytosanitary certificate #
Fumigation certificate #
Radiation free certificate #
Insurance certificate
BUYER’S BANK COORDINATES:
BANK NAME:
BANK BRANCH
ADDRESS:
BANK OFFICER NAME
AND TITLE:
BANK OFFICER’S
EMAIL:
BANK OFFICER’S
PHONE:
BANK OFFICER’S FAX:
ACCOUNT NAME:
ACCOUNT SIGNATORY
NAME AND TITLE:
ACCOUNT NUMBER:
SWIFT CODE:
BANK ROUTING NO.:
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BUYER’S LETTERHEAD
BUYER:
NAME:
COMPANY NAME:
POSITION:
PHYSICAL ADDRESS:
PHONE:
MOBILE PHONE:
EMAIL:
PASSPORT NUMBER, AND
ISSUE AND EXPIRY DATE:
DATE:
AUTHORIZED SIGNATURE
AND SEAL:
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