Cane Sugar 45

COMMODITY: Sugar ICUMSA 45 supply available
ORIGIN: Brazil
SPECIFICATION:
Specification: Refined Cane Sugar ICUMSA 45
Polarization: 99.80%
Solubility: 100% free flowing
Moisture: 0.04% maximum
ICUMSA: 45 RBU
Ash:0.04% maximum
Granulation: Medium to Fine
Color:Sparkling white
Radiation:Normal
Crop:2007/8 (latest available)
TOTAL QUANTITY: 150,000 Metric / Tons for 12 months
PACKING: New Standard 50Kg Shipping Bags Suitable for Export
SCHEDULING: First shipment to be made 30 40 days following receipt of operative letter of credit
SHIPMENTS: Shipments 12,500 MT a month for 12 months
INSPECTION: By SGS or Equivalent for Quantity/Quality at the
Port of Loading and at Sellers cost.
INSURANCE: 110% of the CIF Value of the shipments
PRICE: (1) DLC $325.00 MT CIF:
(2) SBLC $255.00 MT CIF
Sellers Initial: 1 of 2 Buyers Initial:
Agreement Number: U1200/AH/RN/02/02/09
Sellers Initial: 2 of 2 Buyers Initial:
Agreement Number: U1200/AH/RN/02/02/09
PAYMENT(1) DLC BY IRREVOCABLE, CONFIRMED, TRANSFERABLE, DOCUMENTARY LETTER OFCREDIT ACCEPTABLE TO THE SELLER, PAYABLE 100% AT SIGHT AT THE COUNTERSOF THE SELERS BANK AGAINST AGREED SHIPPING DOCUMENTS AS PER CONTRACT.THE LETTER OF CREDIT TO BE CONFIRMED, PREFERABLY AT THE USCORRESPONDING BANK, AT APPLICANTS (BUYERS) COST
(2) SBLC THE TOTAL$100,000,000 WILL BE SECURED BY A SINGLE CONFIRMED UNENCUMBERED,UNCONDITIONAL Standby Letter of Credit, AS PER SPECIMEN, THE BUYER WILLOPEN A Standby Letter of Credit ISSUED AND CONFIRMED BY A TOP 25 PRIMEWORLD BANK ACCEPTABLE TO THE SELLER. IN ORDER TO ALLOW FOR LEADSHIPPING TIME AND THE PRESENTATION OF FINAL PAYMENT FOR EACH SHIPMENTWILL BE BY CASH TELEGRAPHIC TRANSFER (TT). THIS WILL BE AGAINST THEACTUAL SHIPPING DOCUMENTS FOR EACH SHIPMENT.
Procedures:
1. Seller issues FCO Buyer signs and returns
2. Seller issues draft contract
3.Buyer signs and seals draft contract(s) At the same time, buyer submitscopy of the text of the proposed financial instrument to the seller forapproval. It should be noted that seller will not issue hard copies ofcontract until both the contract has been signed by the actual buyerand the text of the proposed financial instrument, on issuing bankletterhead, has been reviewed and approved
4. Seller issues hard copies of the contract to be signed and exchanged by facsimile or by e.mail.
5.Buyer issues confirmed transferable, confirmed non-operativedocumentary letter of credit to sellers bank for full amount of theagreement
6. Seller and buyer agree shipping schedule
7. Within 710 days, seller issues a 2% (DLC ONLY 2% of the value of the financialinstrument) performance bond and this activates the letter of credit.The performance bond will be in the form of either a standardperformance bond or a Standby Letter of Credit.
8. Shipments as per contract
SELLER:                                              BUYER:
For and on behalf of: For and on behalf of:

Cane Sugar 45 to supply for export to buyers