Sugar ICUMSA 45

The following are NOT accepted:
POP or PB in advance

Important details:
Performance Bond cannot be more than 2%

The 100 % Refined Sugar Icumsa 45 being supplied shall be fit for human consumption as per inspection certificate issued by SGS and shall meet the following specifications:

Ash 0.05 % max
Moisture 0.04 % max
Polarization 99.0 % max
Solubility 99.8 % min
Radiation normal
Granulation fine
Humidity 0.1 % max
Colour sparkling white
Sulphated Ash 0.04 % max
Crop: recent

At loading port a representative of SGS or any International Surveyor will confirm and certify that REFINED SUGAR CANE
Packaging:50 kg in polypropylene bags with polythene inner 2 % of empty bags supplied free of charge.
Survey: SGS or any International Surveyor on Seller expense and certificate on weight and quantity will have to be provided as part as the shipping documents to be presented for negotiation of the LC - Letter of Credit
Shipments:30/45 days from the date of the LC delivered to Seller bank.
Destination: ASWP port.
Inspection: SGS or any International Surveyor on Seller expense.
Performance Bond: The Seller against the Buyer operative prime, guarantee will post a bond for 2 % for each shipment value on revolving basis.
Payment Instrument: FFDLC, BG or SBLC or LC Irrevocable, transferable, divisible, issued or confirmed by Top 25 World Bank (European or American) payable 100% at sight.

Procedures

1. Buyer submits LOI including a BCL not older than 5 banking days.
2. Seller issue FCO.
3. Buyer sends signed FCO with all information completed.
4. Seller issues Contract for Buyer signature and Buyer returns signed Contract to Seller by Facsimile. Seller signs the contract and returns copy to Buyer by Facsimile. Buyer forwards signed originals by DHL or other Courier to Seller, Seller countersigns and returns copies of signed originals to Buyer by DHL or other Courier.
5. Buyer Bank confirms POF and the availability of LC as well as their readiness to issue LC to Seller Bank.
6. Seller Bank confirms POP and the availability of PB as well as their readiness to issue it to Buyer Bank.
7. Buyer Bank and Seller Bank approve the format/text/verbiage of Buyer LC and seller PB.
8. Buyer Bank issues Non-Operative Letter of Credit, in return Seller Bank issues operative Performance Bond.
9. The operative Performance Bond activates the Letter of Credit.

Refined Sugar ICUMSA 45 being supplied shall be fit for human consumption