Used Rail

13.- Guarantees by the seller:          2% of the value of each shipment, guaranteed by the Bank acceptable to the Buyer, naming the Buyer or the Buyer's banking facility as the beneficiary, with terms and conditions acceptable to the Buyer

Remark:                                             The Seller has no right to drawing the UBG value, if the total volume of contract is not completed.

2. Irrevocable, confirmed, transferable, auto revolving, or non transferable & not auto revolving payable 100% at sight, documentary letter of credit /11+3 months, in case of delays/, secured by unconditional bank guarantee of one month shipment value /valid 15 months/. The payment of the last shipment will be settled by drawing of the bank guarantee after its maturity date. Possible overhangs in plus or minus are charged with appropriate credit or debit note.

12.- Payment terms                          1. TT swift transfer within 7 days after reception the documents required for payment as per contract. Payment will be secured by the unconditional bank guarantee of the value of 2 monthly shipments /valid 15 months/. The payment of the last two monthly shipments will be settled by drawing of the bank guarantee after its maturity date. Possible overhangs in plus or minus are charged with appropriate credit or debit note.

D.- PAYMENT TERMS

11.-Price:                         in Very Competative price

C.- PRICE

10.- Inspection:                Inspection of goods will be confirmed on a certificate issued by the independent International survey company SGS, CIQ or CCIC at sellers expense. Other quantity inspections at the port of unloading shall be at the buyers expense. Weight franchise of 0.5% shall be allowed against Bill of Lading weight. In case of short/over weight exceeds +/-5% the Seller/ Buyer shall compensate Buyer/Seller for the amount excluding the franchise on the basis of contracted price. Yard visit is possible only after non-operative L/C is issued.

9.- Rate of shipment:          As per contract

8.- Destination:                 CIF  ASWP

7.- Packing:                      Loose in bulk

6.- Terms of delivery:         The Seller shall deliver the total quantity of goods within 12 (twelve) months period in accordance with the Delivery Schedule CIF.

5.- Delivery:                     30.000mt x 12 months

4.- Quantity:                    360.000 mt per year

B.- DELIVERY

Iron                  Balance

Phosphorous       0.045%                      To           Maximum

Sulphur             0.05%                       To           Maximum

Silicon               0.15%                       To           0..35%

Manganese        0..60%                      To           0.90%

Carbon              0..2%                        To           0.90%

Steel Rails Scrap/Railroad Ferrous Scrap (R-50/R-65) chemical composition shall be according to:

3) Chemical Composition of used rail: 

g)   Length of Used Rails scrap will be cut in 1,5 meters.

cleaned from alien articles and substances (covers, linings, ties,
anti-creepers, bolts, wires and other articles of the upper railway part;
dirt, heavy oils, etc 

f)   Technical requirements: rails must be straight. The rail surface is

rails with split heads and  broken flanges. Continuous welded rail may be
included provided no weld is over 9 inches from end of the piece of rail. 

e)    Free from bent and twisted rails, frog, switch and guard rails, or

not cut apart, and  contain no manganese, cast, welds, or attachments
except angle bars. 

d)   Tee, girder, and/or guard rails, to be free from frog and switch rails

arms and ammunition,  mines, shell, cartridges, sealed containers, gas cylinders, explosive shell o explosive  materials in any form either used
or otherwise as per below

c)   The Goods will be totally free from any types of  radiation, bombs,

GOST-8165-75) or similar American standard. 
b)    Dirt, dust and impurities are not more than 0.5 % of total weight. 

a) Rail shall be type R-50 (51.67 kg/m-GOST-7173-75) and R65 (64.72 kg/m-

2) Specifications: 

1) Commodity: Railroad ferrous scrap / Used Rails scrap. 

The Seller shall guarantee to the Buyer that the Goods delivered under the present Contract will correspond to the characteristics and specifications shown below:

Technical Specifications

3.- Specification:               Steel Scrap for Smelting, Used rails as described by ISRI

2.- Origin:                        Europe, Russia, Ukraine, CIS

1.- Product:                     USED RAIL

A.- PRODUCT