PROCEDURE FOR SALES PURCHASE AGREMENT

1. BUYER ISSUES ICPO+CIS
2. THE SELLER ISSUES THE FCO. THE BUYER APPROVES IT AND SENDS IT BACK TO THE SELLER
   
3. SELLER ISSUES DRAFT SPA
4. THE PARTIES AGREE ON AND SIGN THE SPA
5. SELLER ISSUES PROFORMA INVOICE
6. BUYER RETURNS THE SIGNED PROFORMA INVOICE
7. BUYER ISSUES DRAFT FINANCIAL DOCUMENT(SBLC / DLC / LC)
8. PB2% IS PROVIDED TO BUYER’S BANK AFTER LC IS OPENED.
9. LOADING STARTS IN MAXIMUM 3-4 WEEKS.
10. BUYER PAYS BY MT 103 WITHIN MAX 72 HOURS AGAINST ORIGINAL SHIPPING DOCUMENTS AT THE LOADING PORT.

AS STATED ON THE PROFORMA INVOICE, A 5% ADVANCE PAYMENT AND 95% BALANCE DUE DLC PAYMENT WILL REDUCE PRICES BY $5 PER METRIC TONES.

PAYMENT TERMS:

• BY IRREVOCABLE, NON-OPERATIVE, TRANSFERABLE, DIVISIBLE AND CONFIRMED (AUTO-REVOLVING-FOR CONTRACT ) LETTER OF CREDIT 100% PAYABLE AT SIGHT (PORT OF LOADING) – L/C MUST BE OPENED AND CONFIRMED BY FIRST CLASS INTERNATIONAL BANK.
• L/C BECOMES ONLY OPERATIVE WITH 2% PBG.
• AFTER THE LOADING IS COMPLETED, THE ORIGINAL INSPECTION CERTIFICATE AND ALL DOCUMENTS RELATED TO THE LOADING ARE SENT TO THE BUYER’S BANK. THE DOCUMENTS ARE APPROVED BY THE BUYER. THE BUYER RELEASES THE PAYMENT TO THE SELLER’S BANK AS MT103 TT WITHIN A MAXIMUM OF 72 HOURS AS THE L/C CONDITIONS ARE FULFILLED.
• AFTER PAYMENT PROCEDURES AND B/L TRANSFER, THE VESSEL MOVES TO THE DISCHARGE PORT.
• THE LETTER OF CREDIT MUST CONTAIN ;
49: CONFIRMATION INSTRUCTIONS, ITEM MUST BE
CONFIRMED.
OTHERWISE THE TRANSACTION WILL BE CANCELED.

SPECIAL CONDITION:

• FOR SPOT SALES, PAYMENT MUST BE MADE WITH MT760 SBLC ONLY.

• 2%PERFORMANCE BOND IS ISSUED FOR SPOT SALES.

SHIPING DOCUMENTS

The Seller shall deliver to the Buyer:

• Three (3) original and Three (3) copies of signed commercial invoices.
• Three (3) original and Three (3) copies of full set of clean on-board, ocean bill of lading (bl) marked “freight pre-paid” issued to the order of buyer.
• One (1) original and Four (4) copies of Certificate of Quality and Quantity inspection issued by SGS.
• One (1) original and Four (4) copies of Certificate of Origin, issued by the Chamber of Commerce and Industry of the Country of Origin
• One (1) original and Two (2) copies of shipping company statement confirming that. The age of the vessel does not exceed twenty (20) years and the vessel is registered under Lloyds registry.
• One (1) original and Two (2) copies of Non-Radioactivity Certificate.
• One (1) original and Three (3) copies of Sanitary Certificate issued by the Brazilian Government Authority..
• One (1) original and Two (2) copies of packing list showing: i) Gross /Net Weight; ii) The number of ocean Bill of Lading.
• The seller shall advise the buyer indicating: the vessel’s sailing date; the name, of the nominated vessel and steamship company; reference; telephone numbers of the shipping company or agents;

name of ship’s captain; tonnage; length and height of higher portion of vessel; ocean B/L number; contract number; the flag of the vessel, net quantity loaded; number of hatches; number of positions, chambers; estimated time of arrival (eta) at the discharge port etc., one copy of this communication shall be presented as a segment of the document set.

• Certificate GACC of Shipper
• Export Authorization Certificates.
• Covid-19 Test Report