HMS1&2 & USED RAILS

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A revolving Spot Contract is the equivalent of 12 consecutive Spot Contracts with the price locked in over the term. The procedures are as per the above Spot Contract procedures.

2. Revolving Spot Contract Procedures (Price locked in for 12 months)

d)       After reception by Seller of the Buyers funds and verification that the amount matches the contract terms, the 100% Corporate Performance Bond automatically becomes operative and shipping commences.

c)       Buyers bank has 3 days (72 hours) from receiving documents to honor payment via TT/MT103 Unconditional Transfer.

b)       Seller signs off on the LC and sends it to Buyers bank with Original OBOL and Commercial Invoice.

a)       Buyer sends LC directly to seller written as payable on demand at sight of Original OBOL and Commercial Invoice.

Payment via LC against OBOL and Commercial Invoice no advising banks or URC 522 terms (Subject to probe and reasonable cause to believe means are in place and payment will be honored). LC WITH 1 MONTH DEPOSIT.

b.       After reception by Seller of the Buyers funds and verification that the amount matches the contract terms, the 100% Corporate Performance Bond automatically becomes operative, Original OBOL is released to buyer and shipping commences.

a.        The Seller will schedule table top closing in Florida, USA where Seller will exchange the Commercial Invoice and Ocean Bill of Lading for TT/MT103 Unconditional Transfer of Cashiers Check from USA bank.

Payment via TT or Cashiers Check against Original OBOL and Commercial Invoice

       3)       Buyer must sign the contract and send to the Seller for signature. The Seller will countersign the contract and send back to the Buyer via email activating the Contract and 100% Corporate Performance Bond.

       2)       Seller provides FCO, Contract (valid for three days) and accompanying documentation.

       1)       Buyer completes and returns LOI as per the template provided.

1. Spot Contract Procedures (Payment against Documents)

3. Seller also has Annual Contract Terms with LC payment and 1 month deposit.

2. Revolving Spot Contract (revolving Spots with price locked in for term)

1. Spot Contract (payment against OBOL/Commercial Invoice)

We offer following contract types:

All orders must be accompanied by a completed Client Information Form.

TERMS AND PROCEDURES: Commodity : HMS1&2 and Used Rails, Origin : Europe

Yard Owner

HMS1&2/Used Rails Seller -We work directly with Yard Owner/Agent. Please contact us for details.
Updated 11.02.10