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Itp Iof 62 Ex-Mines

This document is an initial purchase inquiry from IndiaMines International for 50,000 metric tons of iron ore fines from India. The specifications require the iron ore to contain at least 63% iron and reject fines containing less than 62% iron. The price is INR 1800 per metric ton loaded onto railcars. Payment terms include an 80% upfront payment and 20% payment after final chemical analysis. The document outlines additional procedures and terms for the purchase.

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294 views2 pages

Itp Iof 62 Ex-Mines

This document is an initial purchase inquiry from IndiaMines International for 50,000 metric tons of iron ore fines from India. The specifications require the iron ore to contain at least 63% iron and reject fines containing less than 62% iron. The price is INR 1800 per metric ton loaded onto railcars. Payment terms include an 80% upfront payment and 20% payment after final chemical analysis. The document outlines additional procedures and terms for the purchase.

Uploaded by

PSNYC
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

IndiaMines International

4, Sahakari Marg 3, Choubey Colony Raipur 1, Chhattisgarh


Tel +91.771.2255809 +91.771.2236809 Fax +91.771.2255384
http:/ / www.indiamines.in [email protected]

Page 1 of 2 Generated on: 03-08-13
INITIAL PURCHASE INQUIRY
Iron Ore Fines 63.5% Fe 62.0% Rejection from India

Date of Issue: Saturday, 03 August 2013
Valid Until: Stock Valid

1. COMMODITY: Iron Ore Fines
2. SPECIFICATION: 63% Fe, Rejection @less than 62%
3. ORIGIN: India
4. INSPECTION: At Mines
5. QUANTITY: 50,000 MT
6. PRICE: INR 1800/MT Loaded onto Rakes
7. TYPE OF CONTRACT: Monthly
8. DELIVERY: Immediate on Payment
9. LOADING PORT: Not Applicable
10. PERFORMANCE BOND: Deposit for 5% of monthly contract amount
11. SHIPMENT DATE: Not Applicable

SPECIFICATION:




















Moisture (Loss at 105 C): 8.00% Max on DMT (10.5% Max on WMT basis)
Physical Composition (on natural basis): Fines guaranteed blow 10 mm 90% minimum.



Element Guaranteed Rejection Remark
Fe 63.00 % 62.00 % Min
SiO2 < 2.00 % > 2.50 % Max
TiO2 - - -
Al2O3 < 1.00 % > 1.50 % Max
MnO - - -
LOI - - -
P2O5 - - -
P < 0.07 % > 0.07 % Max
S < 0.06 % > 0.06 % Max
Na2O - - -
K2O - - -
CaO - - -
MgO - - -
IndiaMines International
4, Sahakari Marg 3, Choubey Colony Raipur 1, Chhattisgarh
Tel +91.771.2255809 +91.771.2236809 Fax +91.771.2255384
http:/ / www.indiamines.in [email protected]

Page 2 of 2 Generated on: 03-08-13
PAYMENT TERMS:
1. In case of ready FOB shipments, 80:20 through RTGS/Indian Letter of Credit after
transfer of ownership and final chemical analysis post-vessel-loading respectively.
2. In case of ready FOY shipments, 80:20 through RTGS after transfer of ownership and
final chemical analysis respectively.
3. In case of running FOR shipments, advance for 5% of monthly commitment in advance,
rest upon subsequent deliveries.

PROCEDURES:

1. The Buyer issues ICPO and NCNDA/IMFPA to the Seller.
2. The Parties must execute the sale / Purchase Contract for mutual agreement and
exchange by UNCITRAL (electronic mail). These copies are considered binding to all
parties.
3. The Buyer shall sign the contract and present the same to the Seller for signature. Once
signed by both parties, all payment funding must be in place within 5 days of last
signature date.
4. The Buyers Bank shall issue an MT-103 TT to IndiaMines Internationals Trust Account.
5. After reception by seller of the buyers funds and verification that the amount matches
the contract terms, the performance Bond (if any) automatically become operative at
that time.
6. The First shipment (FOR) will commence no later than 15 days from the date of the
clean and clear funds. The remaining consignments will be shipped within each 30
(thirty) day period as defined in Section 5 above.
7. Effect of payment for each consignment shall be effected within 3 (three) banking days
of the due date.
8. Upon clearance of funds received at the advising bank of the Seller, the Seller shall pay
commissions, professional fees, shipping fees, yard fees and other payments required to
be discharged by the Sellers mandate. Each party shall be responsible for the settlement
of its own agents, commissions and fees under Fee Protection Agreement to be issued to
individual agents intermediaries and advisers on a shipment by shipment basis.

INTEREST SAFEGUARDING TOWARDS INDIAMINES INTERNATIONAL:
1. Buyer shall pay IndiaMines International a mutuall y agreed upon facilitators fee over
and above the purchase price of the material.
2. The above facilitation fee is TDS deductible at 10% of the total differential between the
Buyers agreed price of Purchase and Sellers agreed price of Sale, henceforth to be
treated as Facilitation Fee
On behalf of IndiaMines International, Legal and Finance are handled by Pankaj Saraff
([email protected]) & Closure by Lalit Prajapati ([email protected])

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