Commodities (bulkgoederen)

Door: Hessels Deelnemingen  10-05-2007

PROCEDURE


9.1. SELLER ISSUES DRAFT CONTRACT IN FAVOUR OF THE BUYER FOR APPROVAL.

9.2. THE BUYER RETURNS THE DRAFT CONTRACT BY EXCHANGING IT BY FACSIMILE OR EMAIL ATTACHMENT, DULY SIGNED AND SEALED. THE DRAFT COPY WILL BE DEEMED LEGAL UNTIL HARD COPIES EXCHANGED.

9.3. SELLER SEND 04 (FOUR) HARD COPIES DULY SIGNED AND SEALED, BUYER DULY SIGN AND SEAL ALL COPIES AND RETURN BACK 02 (TWO) COPIES TO THE SELLER. EXCHANGE OF THE ORIGINALS WILL NOT INFLUENCE THE TIMING TO START THE BANKING.

9.4. WITHIN 7 (SEVEN) BANKING DAYS AFTER CONTRACT SIGNATURE AND EXCHANGE BY EMAIL OR FAX THE BUYER WILL ISSUE TO SELLERS BANK, THE OPERATIVE TOP 50 PRIME BANK CONFIRMED DOCUMENTARY LETTER OF CREDIT IN FAVOUR OF THE SELLER AS PER PAYMENT TERMS OF THE PRESENT CONTRACT.

9.5. WITHIN 7 (SEVEN) BANKING DAYS AFTER RECEIPT AND ACCEPTANCE OF THE OPERATIVE LETTER OF CREDIT THE SELLER WILL ISSUE THE BANK ENDORSED LETTER OF COMMITMENT FOR 2 % INVOICE VALUE OF GOODS IN FAVOUR OF THE BUYER IN CASE OF ANY NON-PERFORMANCE CONDITION AS AGREED IN THE PRESENT CONTRACT.

9.6 DELIVERY AND SHIPMENT COMMENCE AS PER SCHEDULE MUTUALLY AGREED.