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South Lake Ventures

    

Buyer of 600, 000 soy bean non-gmo


[USA]
Posted Date: November 09, 2009    Expiry Date: November 23, 2009
Free Member
   
Description
Please submit CIF price for the following. PLEASE READ THE TERMS AND PAYMENT INSTRUMENT PRIOR TO SUBMITTING YOUR SCO OR FCO. Thank you.
50, 000 x 12 mos.

COMMODITY: SOYBEAN GRADE #2, NGMO
INSPECTION: CIQ
ORIGIN: USA/BRAZIL
SPECIFICATIONS: Test Weight 54.00 pounds/bushel minimum,
Moisture 14% maximum
Foreign Material 2.00% maximum
Splits 20.00% maximum
Total damaged kernels 3.00% maximum
Heat damaged kernels 0.50% maximum
Soybeans of other colors 2.00% Maximum
Oil 18.50% Basis, 18.00% Minimum
Protein 34.50% Basis, 34.00% Minimum
TOTAL QUANTITY: 600, 000 MT
TARGET PRICE: $280-$290
DESTINATION PORT: TIANJIN SEAPORT, CHINA
PAYMENT INSTRUMENT: After signing the contract, within 5 working days, the Buyer
will issue an irrevocable, unconditional, divisible,
transferable, Fully Funded Revolving Documentary Letter
of Credit (FFDLC) for the value of the contract renewing
every three months. This will be non-operative until
activated by a 2% Performance Bond issued by the seller.
For the first shipment, the buyer will pay with fully funded
TT at the delivery port after 5 working days if the loading
port CIQ inspection result is accordant with the
specification of this contract.
For the second to the Tenth shipment, the buyer will make
the payment within 5 working days after unloading
completely at the delivery port, 100% (100 percent) at
sight of delivery documents listed under article 5 of
this contract.
All banking charges relating to the issuance and
confirmation of the FULLY FUNDED DOCUMENTARY
LETTER OF CREDIT (FFDLC) SHALL be for the account
of the buyer. All banking charges related to the negotiation
of the DOCUMENTATY LETTER OF CREDIT shall be for
the account of the seller.
Payment for the contract shall be made in the form of
Documentary Letter of Credit (DLC), Irrevocable,
Confirmed, Transferable, Divisible, and assigned without
presentation of it to us and without payment of any fees or
deductions. 100% LC at sight of delivery.
All banking charges related to the issuance and
confirmation of the DLC shall be for the account of the
buyer. All Banking charges related to the negotiation of
the DLC shall be for the account of the seller.
Partial Shipment + 5% shall be allowed but transshipment
shall be prohibited.
PROCEDURES:
A. Buyer sends LOI with full banking details and soft probe authorization;
B. Seller sends FCO to the Buyer;
C. Buyer signs, stamps and returns FCO;
D. Seller sends Contract;
E. Buyer signs, stamps and returns Contract;
F. Seller issues the Invoice;
G. After 5 days Buyer Bank issues DLC transferable and irrevocable;
H. SellerBank verifies and confirms DLC;
I. After 7 days SellerBank delivers POP issued by SGS;
J. After 7 days SellerBank issues a Performance Bond 2% of one month
shipment;
K. Buyer will have access to storage facilities and port freight terminal;
L. Shipment will occur between 25 and 35 days from loading port after DLC
approved.
 
Order Information
Quantity:  600,000 
Location:   
Related Categories: Beans
Related Product: soy bean
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