Iron ore for sale 2012

Terms And Conditions As Follows:.

Commodity: IRON ORE

Quantity: see origins below

Contract Period: SPOT SHIPMENTS OR CONTRACTS

Price: Price based on platts pricing and will Adjust according to platts pricing. Pricing on 1/5/12 is

$145/MT for 62% FE,

$151/MT for 63.5% FE and

$155/MT for 64.5% FE.

Price will be fixed for first shipment.

Terms of Payment: 100% irrevocable, revolving DLC (DLC must be able to be confirmed by HSBC or AZN banks) 98% payable at sight against payment documents. 2% payable after CIQ inspection at destination port. Seller to issue 2% PB to activate buyer ?s payment instrument.

Delivery Time: Within 30-45 days after receiving LC

Packaging: BULK OR CONTAINERS

Inspection: SGS or Alfred H. Knight. Buyer can receive past documents after a contract is signed

Origin:

Mexico:

57% with rejection at 55% (up to 90,000Mt per month)

59%-60% with rejection at 58% (up to 60,000Mt per month)

63.5% with rejection at 62% (up to 60,000Mt per month)

(immediately)

? 

Peru:

63.5% with rejection at 62% (up to 30,000Mt per month)

(starting February 15th 2012)

? 

Honduras:

58% with rejection at 55% (up to 50,000Mt per month)

63.5% with rejection at 61% (up to 50,000Mt per month)

(starting February 15th 2012)

? 

Procedures & Conditions Precedent:

1. AFTER BUYER SENDS AN LOI, THE BUYER ACCEPTS FCO SENT BY SELLER BY SIGNING ELECTRONICALLY AND RETURNING WITH A BCL
2. SELLER SENDS PURCHASE CONTRACT FOR BUYERS SIGNATURE.
3. THE CONTRACT GETS SIGNED BY BOTH PARTIES AFTER WHICH A SHIPPING SCHEDULE IS AGREED BETWEEN BUYER AND SELLER.
4. THE BUYER WILL BE ALLOWED A MINE/SITE VISIT AND/OR PAST PERFORMANCE DOCUMENTS
5. IRREVOCABLE RDLC MUST BE ABLE TO BE CONFIRMED BY HSBC BANK OR ANZ BANK OR CREDIT SUISSE. 98% PAYABLE AT SIGHT UPON PRESENTATION OF DOCUMENTS. THE REMAINING 2% IS PAYABLE AFTER CIQ INSPECTION AT DESTINATION PORT WITHIN 30 DAYS OF DELIVERY.