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Commodity:  IRON ORE

Inspection (Quantity & Quality) at loading port: By SGS at sellers expenses.

Shipment: Within *0 days after financial instrument in place in the Sellers Bank;

Incoterms: CIF ASWP;

Payment Instrument: Irrevocable, non- transferable, indivisible, confirmed, auto revolving, Documentary Letter of Credit (DLC), issued or guaranteed by one of the Top *5 world banks, payable **0% at sight, at the Sellers Bank, against presentation of shipping documents, as per contract. The Seller opens an operative Performance Bank Guarantee for 2% (two percent) of contract value in favour of the Buyer.

Procedures:

1.    Buyer, mandate and agents sign the NCNDA & IMFPA;

2.    Buyer issues final ICPO addressed to the Seller;

3.    Seller issues FCO and Draft Contract signed to the buyer for his sign;

4.    Buyer and Seller will program TTM at the mine;

5.    Seller will issue POP upon verify the POF of the Buyers Bank;

6.    Buyer and Seller will sign the final contract.

DOCUMENTS REGARDING PAST PERFORMANCE WILL BE PROVIDE PERSONALLY DURING THE VISIT AT THE MINE ( item # 4 of Procedures ).

Thank you.
Best regards.


Tulio B Pinto           
  Director               
TJ Fundicoes Ltda