Quick Details
- Processing Time:-
- Port:Porto de Santos, São Paulo, Brazil
- Supply Ability: 280000 Metric Tons Per Month
- Brand Name:Icumsa 45
BANK GUARANTEE ISSUANCE/ PAYMENT PROCEDURES
To start this export process the Buyer issues the BG – Bank Guarantee in the amount of US$
XX,000,000.00 (XX,000,000.00 Dollars) referring to the
amount of 100,000 MT (One Hundred Thousand Metric Tons), revolving for 1 x 100,000 MT
(Trial) + 12 x 100,000 MT/month, operative, unconditional, irrevocable, transferable, divisible,
with 13 (Thirteen) months plus 30 (thirty) days validity, revolving, issued or confirmed by Top
25/50 Bank, within 10 (ten) banking days after signed SPA, to be sent via Swift MT 760 to
banking coordinates to be indicated by the Seller.
NOTE: The verbiage Draft of Swift BG MT 760 must be sent from Buyer’s Bank to Seller’s Bank
for approval by Seller and Buyer, before the final issuance to Seller’s Bank.
PAYMENT TERMS
For the 13 (thirteen) months contract, the Buyer will pay the shipments of this Agreement via
BG 100% at sight against presentation of shipping documents at loading port such as BL - Bill of
Lading
/ SGS or CCIC Inspection Certificates / Packing List / Certificate of Origin etc., under the agreed
contractual terms, having been released at loading of each shipment to the Buyer, as
mentioned in Clause 7 below.
PARTIES OTHER EXPENSES
- All banking and other expenses incurred by the Buyer at the port of discharge shall be solely
on the Buyer’s account.
- Any other expenses incurred by the Seller at the port of loading shall be solely on Seller’s
account.
Insurance: 110% to Seller’s Account
