1. IndiaMines International is requesting purchase inquiries for 18,000 MT +/- 10% of iron ore fines between 60-59% Fe content for immediate delivery from India.
2. The iron ore fines must meet specified criteria for elements like Fe, SiO2, Al2O3, P, and S. Moisture content should not exceed 8% max.
3. Payment terms include 98:02 payment through RTGS/LC after transfer of ownership and final analysis, with the first shipment commencing within 15 days of payment.
1. IndiaMines International is requesting purchase inquiries for 18,000 MT +/- 10% of iron ore fines between 60-59% Fe content for immediate delivery from India.
2. The iron ore fines must meet specified criteria for elements like Fe, SiO2, Al2O3, P, and S. Moisture content should not exceed 8% max.
3. Payment terms include 98:02 payment through RTGS/LC after transfer of ownership and final analysis, with the first shipment commencing within 15 days of payment.
1. IndiaMines International is requesting purchase inquiries for 18,000 MT +/- 10% of iron ore fines between 60-59% Fe content for immediate delivery from India.
2. The iron ore fines must meet specified criteria for elements like Fe, SiO2, Al2O3, P, and S. Moisture content should not exceed 8% max.
3. Payment terms include 98:02 payment through RTGS/LC after transfer of ownership and final analysis, with the first shipment commencing within 15 days of payment.
1. IndiaMines International is requesting purchase inquiries for 18,000 MT +/- 10% of iron ore fines between 60-59% Fe content for immediate delivery from India.
2. The iron ore fines must meet specified criteria for elements like Fe, SiO2, Al2O3, P, and S. Moisture content should not exceed 8% max.
3. Payment terms include 98:02 payment through RTGS/LC after transfer of ownership and final analysis, with the first shipment commencing within 15 days of payment.
Tel +91.771.2255809 +91.771.2236809 Fax +91.771.2255384 http:/ / www.indiamines.in iron.ore@indiamines.in
Page 1 of 2 Generated on: 03-08-13 INITIAL PURCHASE INQUIRY Iron Ore Fines 60.00% - 59.00% Fe Rejection from India
Date of Issue: Saturday, 03 August 2013 Valid Until: Demand Valid
1. COMMODITY: IRON ORE FINES 2. SPECIFICATION: 60% Fe Rejection at 59% Fe 3. ORIGIN: India 4. INSPECTION: At Haldia on account of Seller after Agreement 5. QUANTITY: 18,000 MT +/- 10% 6. PRICE: INR 2000 Ex-Plot FOY 7. TYPE OF CONTRACT: Free on Yard 8. DELIVERY: Immediate 9. LOADING PORT: Not Applicable 10. PERFORMANCE BOND: Not Applicable 11. SHIPMENT DATE: Immediate (24 hours max after successful payment)
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 > 60.00 % 59.00 % Min SiO2 < 2.50 % > 3.00 % Max TiO2 - - - Al2O3 < 1.50 % > 2.00 % 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 iron.ore@indiamines.in
Page 2 of 2 Generated on: 03-08-13 PAYMENT TERMS: 1. In case of ready FOB shipments, 98:02 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, 98:02 through RTGS after transfer of ownership and final chemical analysis respectively. 3. In case of running FOR shipments, advance for 10% 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 (pankaj.saraf@indiamines.in) & Closure by Ram Awtar Agrawal (ram.awtar.agrawal@indiamines.in)