Sugar,Cameroon price supplier

The Proof of Product (POP) will be given by Allocation Affidavit

with full and legal Seller responsibility for delivery under the

protection of the Brazilian Law- Court, and notarized by Federal

Public Notary, linked to the Contract Transaction Code Number

with total specification of the product and quantity to be

delivered for the first year.

Inspection and Import License:

The Seller Guarantees on its account that each shipment of

Brazilian Sugar INCUMSA45 shall be provided with an inspection

certificate of quality and quantity at the time of loading by an

International Authority “SGS” or similar at Seller’s expense.

Such authority shall inspect the product in strict accordance

with Internationally Accepted Procedures. Final quality and

quantity inspection shall be at port of loading at time of loading

in Brazil. The import license from the Buyer country if any

should be the Buyer responsibility and at his sole expenses, such

import license must be available by the Buyer and will be part of

the contract

PAYMENTS  

SPOT PURCHASE PAYMENT TERMS:

Payment by a fully funded irrevocable MT103/23, Bank Guarantee or Documentary Letter of Credit. A Bank Guarantee or SBLC may be required for multiple shipments or spots “lifted” over longer periods of one month.

CONTRACT PAYMENT TERMS:

Payment by monthly MT103/23, Telegraphic Transfer or Letter of Credit (either Transferable or Non Transferable accepted) payable at loading port against documents, AND A MANDATORY  2 months Bank Guarantee or Standby Letter of Credit is required to secure contract, valid for a minimum of 14 months based on a 12 month contract to be in place for the contract period.

1-Buyer Issue BCL; Bank Comfort Letter

2- Seller will issue the FCO and send by e-mail to the Buyer; Buyer sign, seal and send to the Seller, also Buyer will include the Letter from their Bank Office, addressed to the Buyer undertaking the confirmation and the issuance from his SWIFT to the SWIFT of the Seller indicated bank the MT 760,

3- Seller issue the Draft Contract, Buyer receive the Draft Contract, review, sign and seal it and send back by e-mail,

4- Seller issue the Hard Copy sign and seal and send by e-mail in PDF to the Buyer for final signature, Buyer sign seal and send in PDF to the Seller,

5- Said signed Contract being exchanged electronically will be deemed as original and is legally binding until hard copies are exchanged; Seller also will include the draft of the PB and the Bank Guarantee as annex in the contract. Seller shall issue 5 (five) hard copies to be sealed, signed and Public notarized, send to Buyer by courier, and include also the Original POP, Buyer signs and seals them and send 3 (three) copies back to the Seller

6- Buyer in Seven (7) Banking Days after signed Contract Electronically instruct his Bank to issue the Bank Guarantee and to request the confirmation by BUYER’S Bank Office, that will send by Swift MT760 to the Seller Indicated Bank and copy of the original SWIFT must be sent by e-mail to the Seller, Seller will issue a Performance Bond for non delivery equivalent to a 2% (two percent) of each shipment value, that will be sent to the Seller indicated Bank, and

7- Seller would facilitate and assist Buyer or Buyer’s representative if there was a wish that Buyer would want to be present at the loading for the first shipments, and

8- Deliveries of Goods to the Port in Brazil will commence in strict compliance with contract terms within thirty/thirty five (30/35) days of receipt of an acceptable Bank Guarantee , and schedule mutually agreed and continue as per shipping schedule. Buyer to supply shipping schedule for the first ninety (90) Days shipments within 10 (ten) days following the signing of the contract with shipment schedule for the balance of 9 (Nine) deliveries to be issued 45 (forty five) days ahead of the actual shipment.

NOTE 2 : Due to the long period of Contract duration, if any unforeseen changing for a New situation on the Banking Systems for financial Instruments as per ICC 500/600 or latest, and issuing new changing in Bank Guarantee Financial Instruments from the terms as above given, such as: in verbiage, SWIFT MT760, Maturity, Transferable, Assignable, Unconditional, or others terms. Seller and Buyer must find a new banking payment system as from ICC 500/600 or latest, that is similar to the above payment system, otherwise price per metric ton will be subject to an actual changing of the Bank Guarantee system to the new different system if any, in such case the London Screen price for sugar contract #5 will be the ruling FOB price, and discount adjustments will be negotiated between Seller/Buyer

Performance Bond: Seller undertakes to issue a 2% of each shipment sugar value as Performance Bond for non-delivery, after the Bank Guarantee Transfer by SWIFT MT760 and authentication, verification and acceptance by the Seller indicated Bank.