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PRODUCT: Lithium Ore (Spodumene).
QUALITY: Min. Li = 3%/ Reject Li below 3%
TRIAL SHIPMENT: 500 MT with monthly roll over there after)
MAXIMUM QUANTITY AVAILABLE: 5,000 DMT per month.
ORIGIN: Tanzania.
PRICE: LME minus 25
PAYMENT: Confirmed, irrevocable letter of credit
INCOTERMS: CIF
CONTRACT LENGTH: 12 Month Contract based on Shipment Performance.
LOADING PORT: Dar es Salaam PORT, Tanzania.
PACKAGING: loose container
WEIGHT AND QUALITY INSPECTION: will be done by both the Seller and the Buyer¡¯s Agent to be agreed later.
SOP - STANDARD OPERATIONAL PROCEDURE
1. Buyer Issues LOI (Letter of Intent) with complete purchase conditions in favour of:
To: Blue Diamond metals & Minerals
Address: R. Vincente Fernandes #208, Vl Candida - Ipanema, MG - Brazil
Attn.: Bruce E. EWANG
MD - Risk Analysis & Due Diligence
Email: bluediamond.metmin@outlook.con
2. Seller issues FCO
3. Buyer signs FCO for acceptance and sends back to the Seller together with his ICPO with full banking information and Soft Probe Authorization or RWA.
3. Buyer issues Draft Contract (SPA) to Seller for approval amendment if needed.
4. If both parties agree on the principles of the Agreement, then Seller issues to the Buyer a signed and sealed copy of the SPA with all attachments
5. The Buyer countersigns, seals and sends back to Seller with all attachments.
6. The Seller issues Commercial Invoice which the Buyer signs and returns to Seller
h) The Buyer send Draft of Financial Instrument with all related banking information filled out including confirming/corresponding bank.
7. The Seller's bank validates the draft and approves or amends
8. The Buyer sends to the Seller¡¯s Bank the POF via Swift MT759 message through his Bank.
9. The Seller replies with POP by Swift message Bank to Bank.
10. Within 5 days of acceptance of Draft, the Buyer Bank issues Non-Operative Letter of Credit to the Seller.
11. Seller issues a 2% PB to Activate the Letter of Credit.
12. Seller prepares, loads materials for buyer to transport to the agreed destination and issued inspection repport and other shipping documents.
13. Seller¡¯s bank releases 95% of the agreed price upon receipt of shipping documents.
14. 5% remaining payment is made after verification and approval of the material (iron ore) quality at destination.
16. Transaction complete.
*0BSERVATION:* The Buyer is permitted to visit the mine after issuance of the non-operative SBLC/BG/LC
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