USED RAIL HMS 1 & 2 Code 27 R50 R65

instrument.

6. Shipment within 45 + 15 days of Sellers banksacknowledgement of payment

5. Seller will issue PB.

4. Buyer will issue an operative payment instrument.

3. Seller will countersign contract and return tobuyer via scanned email attachment.

2. Buyer will return sign contract via scanned emailattachment within 48 hours.

Procedures:                        1. Seller will issuedraft contract.

Performance Bond:          2% by Seller after receipt ofoperative bank instrument.

-         Certificate of origin

-         Commercial Invoice

-         Quantity certificate issuedby SGS

-         Quality certificate issuedby SGS

-         Full set of Clean on BoardOcean Bill of Lading

Documents Required for Payment:

Escrow account payable upon presentation of said documents may be an acceptable alternative to a Letter of Credit if both parties agree.

Revolving Documentary Letter ofCredit in the amount of one months shipment value. Final payment will be madeby Telegraphic Transfer upon presentation of the documents listed below. LCmust be confirmed by a USbank, Hong Kong bank or a Western European bank.

AcceptablePayment Terms

Product PriceUsed Rails:               US$285.00 per MT by min.100,000MT / month

Other quality / quantity inspections at the port of unloading shall be at the Buyers expense.The buyer shall have the right to send his delegate(s) at his expense toattend the loading process., but not prior to loading.

Inspection:          SGS at Sellers costshall inspect commodity at the place of loading.

Basis ofDelivery:              First shipment within 45 + 15 (in case of delays) days after receipt of an acceptable payment instrument from buyers bank. All shipments will be made over a 12 + 3(in case of delays) month period in case of an annual contract.

Packing:                              Bulk

Quantity Used Rails:        Min. 100,000 MT (+/- 5%) monthly on spot or annual

Incoterms :                          CIF only

Destination Port:               Any Safe World Port, including all safe ports in india

Loading Port:                    Sellers Option

Origin:                                 Europe

USED RAIL
100, 000 Metric tons per month production, 30, 000 Metric tons for spot order
Submit LOI no exceptions