High quality Used rail R50-R65, 5,000,000 MT CIF

1. Technical terms: USED RAIL R50-R65

2. Origin: Saudi Arabia

Purchase Procedure

1. Buyer to send LOI to the Seller. LOI must be from the End-Buyer.
2. Seller issues FCO (Full Corporate Offer) against Buyer’s LOI, then Buyer signs FCO and returns with acceptance letter (on company's letterhead) to the Seller within 7 (seven) days.
3. Seller issues a SPA (Sales and Purchase Agreement), then Buyer signs SPA and returns to the seller within 7 (Seven) days.
4. Buyer pays A Refundable Allocation Deposit of USD 1333 to the Seller to issue a Commercial Invoice, which will be refunded after the acceptance of the LC MT700 by the seller's bank.
5. Buyer’s Bank has to send LC MT705 Swift as a pre-advice to Seller’s Bank within 3 (three) working days of its receipt of Commercial Invoice and to provide the REFERENCE NUMBER of the same to Seller in order to follow up with Seller bank according to the Revolving LC MT700 description in number 7.
6. Once MT705 SWIFT is received at Seller Bank, then Seller will provide the POP to the Buyer as video on Buyer’s Name or allow to visits the yard for two representatives.
7. SGS report issued by Seller plus possible personal inspection by Buyer, paid by Seller.
8. Buyer open confirmed LC MT 700 Revolving, Irrevocable, Non-Transferable, Operative, Confirmed, At Sight for the full amount of the Commercial INVOICE and its conditions describing the Total Contract Volume, Total Contract duration.
9. Seller issues a bank to bank PBG (Performance Bond Guarantee) of 10% - 20% of the Total Contract Value as penalty on the Seller in the event of no execution or delay within 3 (Three) working days after receiving the LC MT 700 Or MT 705 by the Seller’s bank and a letter of advice with full responsibility from Seller’s bank through Seller’s official bank email.
10. At the arrival of the product in Port of Destination, the Buyer issues SGS inspection, paid by Buyer.
11. After a positive SGS report, payment of shipment was released by MT103.