Product Description

Issued to Buyer: (BUYER) 1. PRODUCT 1.1. Copper Cathode (Electrolytic Copper Cathodes, Grade A) *9.9%     Appendix 1: Specification and Chemical Composition. 2. QUANTITY OF GOODS 2.1. The unit of measurement in this contract is Metric Tons (MT). 2.2. First Shipment *0,**0 MT Metric Tons. 2.3. Total quantity to be delivered is **0,**0MT. 3. QUALITY OF GOODS 3.1. The product object of this contract is Copper Cathodes (Electrolytic Copper Grade A) LME standards at a (Cu) purity of *9.9 %  3.2. The goods shall conform to specification in Appendix 1. 4. DELIVERY  4.1. Loading Port: (Dar Es Salaam, Tanzania) 4.2. Discharge Port: (Buyers Port) 4.3. Delivery Time: (As agreed after the date of signature of the contract). 5. PRICE and PRICE ADJUSTMENT TERMS 5.1. The Buyer shall pay the Seller in United States Dollars “USD”. 5.2. The price of copper cathodes *9.9% agreed upon is on LME Copper Grade A “Cash Settlement” (minus *2% percent) MT, (Negotiable) CIF Buyers PORT, Price formulated on the date of delivery of each shipment.*0% to buyer and 2% mediators. 5.3. COMMISSION:  5.4. The price of the goods includes all costs incurred by the Seller up to and including CIF delivery basis.  6. DELIVERY TERMS AND OBLIGATIONS 6.1. The Seller shall deliver the quantity as per contract. 6.2. The date of delivery is understood as the date of the quality certification issued by SGS at unloading port respective to each shipment. 6.3. The Seller shall start the delivery of the consignment upon signing the contract and in accordance with the procedures, terms and specification as per Appendix 2 hereto.
6.4. Both Buyer and Seller will observe all provisions included in the delivery of the Goods herein. 

6.5. Appendix 3: Delivery Schedule.

7. PROOF OF PRODUCT

7.1 Proforma Invoice

7.2 SKR/ Warehouse receipts,

7.3  Certificate of ownership,

7.4  Certificate of Origin, 

7.6  Assay report, 

7.8 Seller will supply their export permit and/or export capacity with license, to ship goods from their country, 

8.  PAYMENT TERMS and DOCUMENTS REQUIRED FOR PAYMENTPayment of goods shall be effected by BG (Bank Letter of Guarantee, MT**0) for (*0,**0MT for the first (*2) months, confirmed by a TOP *5 World Prime bank order, for an amount of **0% of the monthly shipment value, according to the agreement. Payment after arrival and checking the goods by SGS at the Buyer’s discharge port.   

6.5. Appendix 3: Delivery Schedule.

7. PROOF OF PRODUCT

7.1 Proforma Invoice

7.2 SKR/ Warehouse receipts,

7.3  Certificate of ownership,

7.4  Certificate of Origin, 

7.6  Assay report, 

7.8 Seller will supply their export permit and/or export capacity with license, to ship goods from their country, 

8.  PAYMENT TERMS and DOCUMENTS REQUIRED FOR PAYMENT

Payment of goods shall be effected by BG (Bank Letter of Guarantee, MT**0) for (*0,**0MT for the first (*2) months, confirmed by a TOP *5 World Prime bank order, for an amount of **0% of the monthly shipment value, according to the agreement. Payment after arrival and checking the goods by SGS at the Buyer’s discharge port.  

8.1  Both Buyer and Seller will observe all provisions included in the delivery of the Goods herein.

8.2       Appendix 3: Delivery Schedule.

APPENDIX 2

AGREEMENT PROCEDURES:

Prerequisite to proceeding: BUYER completes MOU and returns it with NCNDA/IMFPA to (GROUP).

AGREEMENT PROCEDURES

The Contract/SPA shall be signed and executed by both Parties.  In the event that a Mandated Signing Officer is to sign for and on behalf of his Principal(s), this Contract shall thereby be deemed valid and binding upon Principal(s).  

6.1 Seller & Buyer sign ready agreed upon Sales & Purchase Agreement:

6.2 To begin / from the date of signing the contract, the buyer is going to prepare a draft of the BG, (Bank Letter of Guarantee, ) MT**0.

6.3 At the time, the buyer will issue to seller the draft of BG,  **0 % and BCL to the seller’s bank, the contract goes into effect. The seller should produce depending on this contract, and prepare to deliver the products to the buyer. 

6.4 Within, receiving End Contract from seller, buyer’s bank will open and issue the BG,  MT**0 for  (*0,**0 MT for the first *2 (twelve) months, confirmed by an TOP *5 World Prime bank order, for an amount of **0% of the monthly shipment value, according to the agreement.

6.5 From there, the two parties exchange the documents of the shipping through bank to bank procedure, and the goods arrive at the DELİVERY PORT (BUYER’S PORT), as per mutual consent, within *0 working days from date of the buyer’s open BG (Bank Guarantee, SBLC, RDLC) MT**0.

6.6 Seller shall provide POP proof of product of the (Copper Cathode) held in Warehouse storage to the Buyer.  This would include the following: 

6.7 Warehouse receipts, 

6.8 Certificates of origin,  

6.9 Certificate of ownership, 

6.*0 Assay report, 

6.*1 Company Registration Documents with the local government (Tanzania), 

6.*2 Export permit and/or proof of exporter capacity with license, to ship goods from their country, 

6.*3 Physical inspection of copper cathode goods in warehouse storage, in (Tanzania), with the (date of travel to Tanzania and local inspection to be arranged between Buyer and Seller parties), 

6.*4 Buyer confirms to Seller after receiving POP (listed above).  Copy will also be sent to Seller(s) by email.

6.*5 Seller shall deposit the (copper cathode) with a secure Custody Freight & Export company.                                         

6.*6 Seller shall process the shipment and forward copies of all shipping documents to the Buyer prior to arrival of goods to pre-arrange approval and acceptance at customs offices at the port of destination. 

*8. The export taxes, export documentation, freight cost and other expenses during export to the Buyer's destination shall be borne by the SELLER **0%.

*9. BUYER is responsible for all charges at the nominated buyer port location. 

*0. BUYER on behalf of the Seller shall clear the import customs, and other VAT taxes applicable.

*1. Once the Buyer-side inspection has been confirmed, the BUYER shall render payment to the seller, and intermediaries, representatives and/or mandates, within (*4 hours) banking hours.

This MOU and the associated terms are subject to a *0 day acceptance (from MOU Date) from the BUYER and is considered null and void otherwise. This MOU is also contingent upon the BUYER’S satisfaction with his/her customary due diligence concerning the Seller, and likewise the SELLER’S satisfaction with his customary due diligence on the Buyer. This MOU is also null and void if the BUYER and SELLER do not negotiate successfully, to the conclusion of a mutually signed sales and purchase agreement (SPA). The filling in and signing of this document does not constitute an obligation, other than the following: this document establishes the mode of transaction which the BUYER and SELLER agree to use, IF, AND ONLY IF, they conclude their negotiations in a mutually signed and sealed SPA.