SOFT CORPORATE OFFER
GM Bogotá Colombias mandate for the miner, confirms that we are immediately ready and able to offer the following product under specified terms and conditions:
Letter ofInterest (LOI) must be received before: 6:10 PM Bogota 1st September 2011
MINE OWNER: REDACTED
MINE LOCATION: REDACTED
COMMODITY: Coal Type B
COUNTRY OF ORIGIN: Colombia
INITIAL QUANTITY: 60,000 MetricTons +/-10%
YEAR QUANTITY: 720,000 Metric Tons +/-10%
CONTRACT LENGTH: Can be extended up to 60 months
MONTH QUANTITY: From 60,000 to 90,000 Metric Tons per month +/-10%)
PRICE: FOB Price below$93.00 USD will be rejected
Coal: Type B – see specifications below
Transportation to port: Included in Price
Port Window: Included in Price
Initial Laycan: 45-60 daysafter L/C verification
Laycan Schedule: Repeats approximately every 30 days or sooner as negotiated
International Shipping: Responsibility of the buyer
FEES AND COMMISSIONS: Includes $3.00 USDBuyer Side Commission
FEE AGREEMENT: All fees will be protected by a separate L/C that will be distributed by Paymaster. Fees will be paid according to the fee protection agreement to the entity bankaccounts on record at the time fee protection agreement is signed.
PRICE DURATION: 3months
PRICE REVISION: Every three months or as per contract agreement
PRICE ADJUSTMENT: Index against NYMEX QLDMA100
PAYMENT MODE: Electronic Funds Transfer
PAYMENT GUARANTEE: This offer will require the use of two Irrevocable Letter of Credit, transferable, revolving and divisible issued by world
top 25banks payable at ship’s rail equal to the value of one 60,000 MT shipment, one for the base coal price and one for quality assurance, management, fees and commissions.
DELIVERY: FOB at Port SantaMarta, Colombia
SHIPMENTS: Buyer specified carrier - Panamax: 60,000 MT +/-10%
QUALITY INSPECTION: By SGS or equivalent at loading port
DELIVERY INSURANCE: 2% Performance Bond issued...
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