ICUMSA45 SUGAR

This offer expires 07/01/2009 @ 12:00 pm EST but may be extended if additional supplies are made available or withdrawn at anytime if existing supplies have been exhausted.

1. Seller issues FCO. Buyer signs and returns Seller's FCO, accepting all terms and conditions, therein. Buyer completes and returns client information sheet (CIS).
2. Buyer issues ICPO, BCL and CIS.
3. Seller issues draft contract in favor of the Buyer.
4. Buyer signs and sends back the contract draft to the Seller within 48 hours. Fax and Email copies deemed as originals.
5. Within 3-5 days after executing the sales and purchase contract, the buyer's bank, states their readiness to issue their ARDL/C, as per contract to Seller's nominated bank
6. Sellers bank sends, to buyer's bank, his readiness to post the PB and confirms the proof of product documents (partial POP).
7. Within 5-7 (Five To Seven) days of receiving the POP confirmation, Buyer's bank will issue the non-operative ARDL/C in favor of the Seller, through their nominated bank.
8. Within 5-7 (Five To Seven) working days of the receipt of Buyer's ARDL/C payment, the Seller will post the operative Performance Bond (PBG) and full proof of product (POP) which will activate the ARDLC. Delivery and shipment commence, as per the mutually agreed upon contract schedule.

N.B. FINAL TERMS TO BE MUTUALLY AGREED UPON BETWEEN BUYER AND SELLER AND CONTINGENT UPON FINAL BANK APPROVALS.

POLORIZATION: 99.8 DEGREES MIN.
ASH CONTENT: 0.04 MAX.
ICUMSA: 45 RBU MAX (BRAZILIAN SGS SCALE)
SOLUBILITY: 100% DRY AND FREE FLOWING
COLOR: SPARKLING WHITE
RADIATION: WITHIN INTERNATIONALLY EXPECTED LIMITS
GRANULATION: FINE CRYSTAL
MOISTURE: 0.04 % MAX
MAGNETIC PARTICLE: 4 MG/KG
SO 2: 20 MG/KG
ASH BY ELECTRUCAL CONDUCTIVITY: 0.04 % MAX. (ON DRY WEIGHT BASIS)
SULPHUR DIOXIDE: 20 MG/KG MIN.
SEDIMENTS: NONE
FREE OF: ANY SMELL
REDUCING SUGAR: 0.05% MAX BY WEIGHT
HPN STAPH AUREUS: NIL
MAX. AS: 1 PPM
MAX. PS: 2 PPM
MAX CU: 3 PPM
SUBSTANCE SOLID CRYSTAL

INVESTMENT BANKING COMMODITY ACQUISITION FIRM BUY AND SELL EVERYDAY