30,000 MT X 12 Months + Roller Stensions , CIF ASWP or CIF CHINA ,
USD138,00 Per Tonne .
PAYMENT INSTRUMENT :
Documentary Letter of Credit (DLC) Active, Irrevocable, Divisible, Assignable, Non-Transferable
or Non transferable L/C
, payable 100% at sight to the Seller’s Bank (Prime Bank) per shipment, with monthly payments for the value of one month's delivery, issued by top 50 World Bank and valid during all contract. The payment will occur with presentation of each shipment documents at the loading port after CIQ or SGS inspection.
Seller’s Bank will issue an Insurance Performance Bank of 2% of the value of the DLC for one month.
· Iron (Fe) 64.5 %MINIMUM below 60% penalty/re-negotiation
· Silica (SiO2) 3.0 % MAXIMUM over 4% penalty
· Aluminum Oxide (Al2O3) 1.5% MAXIMUM over 3% penalty
· Sulphur (S) 0.12% MAXIMUM over 0.15% rejected
· Phosphorous (P) 0.10% MAXIMUM over 0.15% rejected
· Titanium (TiO2) 0.30% MAXIMUM over 0.50% penalty