Aluminium ingots A7 purchase, 132,500 MT

There is an immediate need to supply 132,500 MT of aluminium ingots A7 over next 12 months. Buyer waiting to release order. CIF shipment terms, price - $1550/MT. Documentary Letter of Credit (DLC) payment terms with 2% performance bond. Letter of Credit (LOI) attached.

Letter of Intent: aluminum ingots A7
Commodity: Primary aluminum ingot A7 99.7% purity 
1. CIF India - 500 MT Trial plus 10,000 MT x 12 months
2. CIF Durazzo, Albania – 500 MT x 12 months
3. CIF Venessia – 500 MT x 12
Total Quantity: 132,500 MT subject to trail quantity being acceptable
Price: USD $1,550 per MT.
Contract duration: 1+12 months
Country of origin: Any
Port of loading: Please advise
Port of destination: CIF, India/CIF Albania/CIF Venessia
Procurement Process: CIF transaction process
Inspection: SGS or any internationally recognized inspection agency at port of loading at seller’s expense. Any inspection at destination port shall be at buyer’s expense.
Payment terms: DLC non transferable and irrevocable via MT700 payable 100% at sight following inspection and loading onto shipping vessel. Payment to be issued via TT/MT103 process against:
• CIF Insurance Cert for 110% of shipment value;
• Bill of Lading;
• Certificate of Origin;
• Packing List; Commercial Invoice;
• Certificate of Quality;
• Certificate of Quantity
Performance Bond: A Performance Bond of 2% of each shipment value is required.
Commission: the quoted price shall be inclusive of all commissions on the Seller side. The Buyer will add its own commission.
Delivery time: Please identify loading times and confirm if shipments can be achieved within 30 days from receipt of an acceptable DLC.
Packing: pallets
Validity: revised offer must be valid for 10 days form the submission date, with the price being held based on ICPO issuance during this validity period.
The transacting procedures is CIF (Cost, Insurance and Freight) (CIF) Contract
1. Seller issues Soft corporate offer to buyer. Buyer to issue ICPO on company letter head addressed to seller together with corporate registration certificate, copy of passport of authorized signatory, bank details and Bank Letter addressed to seller confirming that buyer is ready, willing and able to pay (Seller details to be released following confirmation of intention to release ICPO). ICPO shall include this transaction procedure word for word. The buyer shall in the first instance issue the ICPO via AM Llegal consultants for onwards transmission to the seller.
2. Seller issues Commercial invoice/draft Contract to buyer for amendment.
3. Seller and Buyer sign the Commercial Invoice and Contract on the agreed terms and lodged with respective Banks.
4. Buyer issues non transferrable and irrevocable DLC via SWIFT MT700 to Seller’s bank acceptable to Seller. Seller issues performance bond of 2% per shipment value or financial surety bond.
5. Inspection and loading for shipment shall commence immediately following receipt of Buyer’s acceptable financial payment instrument. Shipment estimated to be within 30 days after receipt of an acceptable financial payment instrument.
7.Seller submits the following documents to the Bank for payment following Product shipment. Buyer makes payment within 5 days thereafter for the shipped Product to the Seller’s Bank via TT/SWIFT (MT103) against:
• CIF Insurance Cert for 110% of shipment value;
• Bill of Lading;
• Certificate of Origin;
• Packing List;
• Commercial Invoice;
• Certificate of Quality;
• Certificate of Quantity
8. Seller release commissions to all intermediaries as per NCNDA/IMFPA within 72 hours.
9.Cycle repeats.