Sugar Icumsa 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 OF CREDIT ACCEPTABLE TO THE SELLER, PAYABLE 100% AT SIGHT AT THE COUNTERS OF THE SELERS BANK AGAINST AGREED SHIPPING DOCUMENTS AS PER CONTRACT. THE LETTER OF CREDIT TO BE CONFIRMED, PREFERABLY AT THE US CORRESPONDING 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 WILL OPEN A Standby Letter of Credit ISSUED AND CONFIRMED BY A TOP 25 PRIME WORLD BANK ACCEPTABLE TO THE SELLER. IN ORDER TO ALLOW FOR LEAD SHIPPING TIME AND THE PRESENTATION OF FINAL PAYMENT FOR EACH SHIPMENT WILL BE BY CASH TELEGRAPHIC TRANSFER (TT). THIS WILL BE AGAINST THE ACTUAL 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 submits copy of the text of the proposed financial instrument to the seller for approval. It should be noted that seller will not issue hard copies of contract until both the contract has been signed by the actual buyer and the text of the proposed financial instrument, on issuing bank letterhead, 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-operative documentary letter of credit to sellers bank for full amount of the agreement
6. Seller and buyer agree shipping schedule
7. Within 7 10 days, seller issues a 2% (DLC ONLY 2% of the value of the financial instrument) performance bond and this activates the letter of credit. The performance bond will be in the form of either a standard performance bond or a Standby Letter of Credit.
8. Shipments as per contract
SELLER:                                              BUYER:
For and on behalf of: For and on behalf of:

Icumsa 45 sugar available for export to buyers.