CONTRACT FOR SALE OF CHROME ORE
Contract No:
Date of Contract: 25 May 2011
The Seller: CO.,LTD.
Address:
Tel:
Fax:
E-mail:
The Buyer:
Address:
Tel:
Fax:
E-mail:
This contract is made by and between the buyer and the seller, whereby
the buyer agrees to buy and the seller agrees to sell the under mentioned
goods to China on the terms and conditions as follows:
CLAUSE 1: COMMODITY
NAME OF COMMODITY : Concentrate Chrome Ore
Country Of Origin :
Port Of Loading :
Port of Discharge :Lianyungang, China
CLAUSE 2: QUANTITY AND SHIPMENT
Quantity
Date of shipment Transshipment Partial shipment : 2000DMT +/- 10% of Chrome concentrate at seller’s option
: within 20 days after opening of the L/C.
: is allowed
: is not allowed
CLAUSE 3: GUARANTEED SPECIFICATIONS AT LOADING PORT
CLAUSE 4: PRICE
CIF Lianyungang Port, China U.S.Dollars per Dry Mertic Ton on 48% Cr2O3 basis concentrate chrome ore, scale rata, bonus/penalty of USD DMT for each 1% Cr2O3 above/below 48%.
Insurance to be covered by the Seller.
Total Value : USD
( U.S.Dollars four hundred thousand Only)
CLAUSE 5: PAYMENT
The buyer shall provide an IRREVOCABLE DOCUMENTRY LETTER OF CREDIT, PAYABLE 100% AT SIGHT and indicating seller as beneficiary and issued by buyer's bank for total contract value within 7(seven) banking days from the date of signing the contract by both parties.
The Letter of Credit should be at sight for 100% of cargo value. 95% of invoice value shall be paid based on an internationally recognized SGS or Alfred Knight certificate at loading port. The value of cargo to be calculated at the agreed price per metric ton as per clause 3 and clause 4 based on the SGS or Alfred Knight certificate at loading port, with balance 5% value payable under the same L/C against sel ler’s final invoice and photocopy CIQ certificate of quality and weight issued at port of discharge.
All banking charges outside opening bank are for account of the seller.
CLAUSE 6: PACKING
Shipped in 20ft containers in bulk. (Loose bulk in container)
CLAUSE 7: DOCUMENTS FOR 95% PAYMENT
1)Signed provisional Commercial Invoice based on certificate of quality and weight
issued at loading port by independent Survey company SGS or Alfred Knight in 3 originals and 4 copies indicating the Contract number, L/C number, B/L number.
The exact amount should be calculated according to the SGS inspection result for Cr2O3 content and quantity at loading port.
2)Packing List in 3 originals and 3 copies indicating the Contract number, L/C
number, Invoice number, Name of Carrying Vessel.
3)Full set 3/3 of clean on board Bill of Lading. Marked “Freight Prepaid”. Issued
by shipping company as carrier.
4)Preshipment inspection Certificate of Quality and Certificate of Weight issued at
Loading Port by the independent Survey Company SGS or Alfred Knight each in
1 original and
2 copies.
5)Certificate of Origin in 1 original and 2 copies issued by Turkey Chamber of
Commerce.
6)Insurance policy in 1 original and 2 copies , issued with buyer as the beneficiary.
7)Full set of all shipping documents to be sent to buyer by the fax/email within 7
days after shipment. (email has clear print)
CLAUSE 8: DOCUMENTS FOR FINAL 5% PAYMENT
1)Final Invoice based on certificate of quality and certificate of weight issued by
CIQ at discharging port in 3 originals.
2)Certificate of Quality issued by CIQ at discharging port. Fax copies/photocopies
acceptable.
3)Certificate of Weight issued by CIQ at discharging port. Fax copies/photocopies
acceptable.
4) Buyer must submi t copy of CIQ’s Inspection Certificate of Weight and Inspection Certificate of Quality to Seller by fax/email within 60 days from the date of vessel arriving at the discharging port. Otherwise, SGS or Alfred Knight report at loading port shall be taken as final for final settlement.
CLAUSE 9: EXPORT AND OTHER FEES
Fees levied on export of Chrome Ore in the country of Origin shall be for account of Seller, whereas all fees levied on the import of Chrome Ore in the country of destination shall be for Buyer’s account.
CLAUSE 10: FORCE MAJEURE
Neither party shall be held responsible for failure or delay to perform all or any part of this contract due to flood, fire, earthquake, snowstorm, explosion, strike, war or any other Force Majeure cases as per international practice.
However, the party whose performance is affected by the event of Force Majeure shall give a notice to the other party of its occurrence as soon as possible and a certificate or a document of the occurrence of the Force Majeure event issued by the relative authority or a neutral independent third party shall be sent to the other party not later than 60 days after its occurrence.