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SOFT CORPORATE OFFER
DATE : 1ST OCTOBER 2022
VALIDITY : DAYS
TO:
COMMODITY : SUGAR ICUMSA 45
ORIGIN : BRAZIL
LOADING : ANY PORT OF BRAZIL
SHIPPING TERMS: CIF PORT ANY SAFE PORT IN THE WORLD
TOTAL QUANTITY : 000 MT/MONTH X 12 MONTHS
DURATION OF CONTRACT : 12 MONTHS
PRICE : 000 USD / MT
TERMS OF DELIVERY : CIF INCOTERMS 2020
SHIPMENT : IMMEDIATE
PAYMENT TERMS: 100% Documentary Letter of Credit (DLC) / MT
700 or SBLC / MT760 At Sight, Irrevocable, Non transferable /
Transferable, Confirmed, Revolving With 2% Performance Bond
SPECIFICATION : PRODUCT SPECIFICATION IS SPECIFIED BELOW.
GACC / AQSIQ FOR CHINA
SPECIFICATIONS
COMMODITY: ICUMSA:
White Refined Sugar 45 RBU ICUMSA Attenuation index units Methods #10-
1978
ORIGIN: ASH CONTENT:
Brazil 0.04% Maximum by Weight
POLARIZATION: MOISTURE:
99.8° Minimum 0.04% Maximum by Weight
MAGNETIC PARTICLES: SOLUBILITY:
Mg/kg 4 100% Dry & Free Flowing
GRANULATION: MAX AS:
Fine Standard 2 P.P.M.
MAX OS: MAX CU:
2 P.P.M. 3 P.P.M.
COLOUR: SEDIMENTS:
Sparkling White None
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So2: REDUCING SUGAR:
Mg/kg 20 0.010% maximum in dry mass
RADIATION: CESIUM / IODINE SO2:
Normal w/o presence of cesium or iodine SO2: Certified Certified
SUBSTANCE: SMELL:
Solid, crystal Free from any smell
Hpn Staph Aureus: MICROBIOLOGICAL:
Per 1 gram-nil Pathogenic bacteriaincluding limits salmonella per 1
gram-nil, bacillus per 1 gram-nil
PESTICIDE TRACES: CROP:
Maximum mg/kg basis – DDT 0.005-photocin 0.01 Recent crop
hexachlorangamma
: PAYMENT TERMS
1. Irrevocable, Non transferable / Transferable, Revolving, Confirmed Letter of Credit (LC), MT700
or SBLC, MT760 payable at Loading Port. N.B. Shipment packing to be communicated by buyer.
(50kg) N.B. price may vary depending on packaging requirements. The sugar will be packed in
50kg Bags Poly-Lined new jute bags. The bags shall be branded in indelible ink or paint in the
English language bearing the marks: PRODUCT OF BRAZIL.
2. The Seller shall issue a Performance Bond (PB) of 2% (ANNEX C) which will be issued within 10
days after the receipt of the Letter of Credit in 1 above and after the Seller’s Bank confirms the
Documentary Letter of Credit DLC ((MT700) from the Buyer’s Bank is Operative. For SPOT
Transactions a 2% performance Bond will NOT be issued.
Seller’Procedure
1. The Buyer will issue a Letter of Intent (LOI) to the Seller.
( Also need POF)
2. The Seller shall provide a Sales and Purchase Agreement (SPA) to the Buyer, the Seller will send a draft
of the Sales andPurchase Agreement (SPA) to the Buyer and the Seller may modify and confirm all
transaction conditions and terms in thedraft contract.
3. The Sales and Purchase Agreement will require it to be completed within the first 5 days of its
issuance.
4. The Seller and the Buyer will sign a valid electronic contract online issued by the Seller.
5. The Seller shall provide the Buyer with the Seller’s company registration information, the
information of the receiving bank.
6. Should the Buyer require a Proof of Product (POP) (SEE ANNEX D), the Buyer shall issue a MT799
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from the Buyer’s bank tothe Seller’s Bank as indicated in ARTICLE 25 below requesting a POP. The
Seller in return will comply and provide the POP.
7. The Buyer will issue a Bank Confirmation Letter (BCL) in favor of the Seller, Proof of Funds (POF)
in the form
of MT799 to the banking details as per the banking details of the Seller (see ARTICLE 25).
8. The Buyer shall issue an LC, MT700 within 5 days as per the Letter of Credit as annexed to this SPA
with the above conditionsto the Seller’s receiving bank as per the draft LC issued in the SPA. (See
Annex A, Annex B, for the DRAFTS)
9. The Copy of the LC, MT700 shall be sent to the Suppliers Bank and the Supplier shall start to prepare
and pack the goodsas per the specified terms and conditions agreed to in the SPA.
10. Upon receipt of the LC, MT700 the supplier will release previous test reports, record of history
delivery to China, other
supply certificates and AQSIQ number GAAC number (For those shipments destined for China and any
other ports asindicated in this SPA if it be the case) of the Supplier preparing to ship.
11. As item 8 above is underway, the Seller shall issue a 2% Performance Bond (ANNEX C) to the
nominated bank of the Buyer. A 2% Performance Bond will NOT be issued on a Spot transaction.
12. The Supplier shall prepare the goods for shipment upon receipt of the LC. The supplier shall
prepare the goods, book thevessel, and deliver the goods to the discharge port. The product will be
ready for loading within a maximum period of 35days.
13. Upon completion of the Bill of Lading and all other supporting documents as outlined in the, the
Seller shall settle the LCwith the issuing bank of the Buyer by way of Bank-to-Bank presentation,
negotiation, and settlement based on internationalCIF settlement by MT103. All quality and quantity
shall be subject to the SGS commodity inspection certificate of the thirdparty at the charging (Loading
Port) port.
14. Upon completion of the LC negotiation the initial issued LC will revolve, and the second shipment
will be prepared (in thecase of multiple shipments).
END
