Detailed Product Description

1. COMMODITY:   Used Rails (R 50/R65) SRI R 27-29
2. ORIGIN:   EUROPE, USA
3. DELIVERY:   CIF ASWP
4. UNIT PRICE:   255USD
5. QUANTITY:   30,000 MT x 12 months  Minimun Order is 360,000MT per year.
6. PACKING:   Bulk
7. INSPECTION:   SGS at Sellers expense
8. PERFORMANCE BOND: 2% by Buyer
9. PAYMENT MODE:  Revolving, Irrevocable, Transferable, RDLC or Bankers Guarantee

                              100% payment at sight 100% 

PROCEDURES  

1. BUYER ISSUES LOI, ICPO
2. SELLER ISSUES DRAFT CONTRACT
3. BUYER SIGNS AND SEALS CONTRACT AFTER REVISION AND AMMENDMENTS IF NEEDED AND     RETURNS IT SIGNED AND SEALED TO SELLER.
4. HARD COPIES OF FINAL CONTRACT ARE SIGNED AND EXCHANGED VIA E-MAIL AND FAX.
5. BUYER ISSUES NON-OPERATIVE REVOLVING, IRREVOCABLE, CONFIRMED, TRANSFERRABLE LETTER OF CREDIT OR BANKERS GUARANTEE 100% AT SIGHT.
6. UPON RECEIPT, VERIFICATION, ACCEPTANCE AND AUTHENTICATION OF L/C, SELLERS BANK ISSUES IN FAVOUR OF THE BUYER 2% PERFORMANCE BOND TO ACTIVATE THE L/C.
7. SELLER ISSUES BANK TO BANK PROOF OF PRODUCT (POP).
8. DELIVERY AND SHIPMENT SHALL COMMENCE AFTER THE FULFILLMENT OF THE PROCEDURE, STATED ABOVE, AS PER THE TERMS AND CONDITIONS OF THIS CONTRACT AND DELIVERY SHALL CONTINUE UNTIL FULL AMOUNT OF CONTRACTED QUANTITY IS DELIVERED