Used Rail Scrap

9)

Non-Operative Revolving LC becomes operative

8)

Seller issues 2%PB and POP to the buyer's bank

7)

Seller sends invitation letter to the buyer for visiting the yard within 7(seven) days after receiving the Non-Operative Revolving LC

6)

Buyer opens Non-Operative Revolving LC

5)

Buyer signs and sends it back to the seller

4)

Seller issues Draft Contract

3)

Buyer issues an Irrevocable Corporate Purchases Order [ICPO] with full Banking details with soft probe permission.

2)

Seller raises Full Corporate Offer [FCO]

1)

Procedures

2% By Seller

Performance Bond

100% LC at Sight

Payment Terms

CIF ASWP

Delivery

Sellers Option

Origin

SGS at Loading Port by seller

Inspection

From Barclays Bank London U.K.

POP

30,000 MT

Minimum Quantity

360,000 MT

Quantity

?      No pitting, only atmospheric rust, no heavy rust

?      No fishplates or steel pieces or bolts are attached to used

Note:

?      Cr: Residual.

?      As:0.01% Max

?      P:0.035Max;

?      S: 0.04Max;

?      Si:0.18-0.12;

?      C:0.54-0.82;

?      Mn:0.60 -1.05;

Chemical Composition

(64.72 KG/METER) Gost 8161-75

Rail Scrap R-65

(51.67 KG/METER) Gost 7173-55

Rail Scrap R-50

USED RAILS - ISRI CODES: ISRI 27-29

Quality

Weight: 437.5 KGS

Width:   5.5 inches

Length: 12m to 12.5m

Size & Weight:

$415 Per MT

Used Rail Scrap

Price

Commodity COMMODITY DESCRIPTION AND SPECIFICATIONS       We hereby confirm with full corporate authority and legal responsibility, under penalty of perjury, that we are ready, willing and able to sell for the following commodity on our sellers behalf. USED RAIL SCRAP R-5O R-65     SOFT CORPORATE OFFER