Product: UREA N-46% Granular & N-46% Prilled
Product use: Fertilizer
Grade: Agricultural
Packaging:
v PP Tubular Woven Bag, double folded
o 50 KG PP Bags
o 60x105 cm
v In Bulk (*Buyer’s Option)
o Jumbo bags: 1 MT, 1.5 MT and 2 MT
Origin of goods: Russia or Ukraine (Seller’s Option)
Delivery: CIF (Cost – Insurance – Freight) INCOTERMS - 2000
Mode of Payment: Irrevocable, confirmed, divisible, transferable, UCP600 Documentary Letter of Credit, 100% payable and negotiable at sight at the counters of Seller’s Bank, upon presentation of the required clean delivery documents to the Buyer’s bank. All payments are to be made in USD.
Performance Bond Guarantee: 2% PBG of the contract value of the Goods will be issued within ten (10) banking days after the Seller’s bank’s reception and acceptance of the Irrevocable, Active UCP600 PA DLC.
Inspection & Certificate: At Seller’s expenses, quantity, quality and weight of the Goods will be stated in a Certificate issued by the independent international survey company “SGS’’ (Societé General de Surveillance) which shall be binding for both Parties in all respects, including but not limited to the payment of invoices and to the replacement of faulty Goods. If the Buyer requires a Certificate issued by another independent international surveyor, this will be done at Buyer’s expenses and it will not be considered as a valid document for payment.
NC/ND: This agreement includes by reference and incorporates the Standard International Non-Circumvention Agreement and conditions as set forth by International Chamber of Commerce (ICC Publication 500, revision 1994) and pertains to any introduction of persons or product to Buyer/Seller by Buyer/Seller or Seller/Buyer’s agents at any stage for a period of five (5) years from date hereof. This document binds all parties, their employees, associates, transferees, relations, assignees or designees. Fax copies of this document are fully legal, enforceable and binding.
Sales and Purchase Procedures
1. Buyer sends back Confirmation Request signed/sealed accepting the terms and conditions in addition to signing/sealing the annexed Letter of Indemnity.
2. Seller sends Draft contract.
3. Buyer signs and returns the Draft contract.
4. Once any amendments and changes have been accepted, the Seller will send via fax or email final binding signed contract to the Buyer who returns it countersigned.
5. Upon receipt of the final binding signed contract from the Buyer, the Seller sends (4) four original hard copies of the contract via international courier to the Buyer’s address. The Buyer signs all (4) four and immediately returns (2) two of them to the Seller via international express courier to the indicated address.
6. Buyer signs all (4) four and immediately returns (2) two of them to the Seller via international express courier to the indicated address.
7. Within five (5) banking days from the Seller’s notification to the Buyer of receiving back the countersigned and sealed final contract, the Buyer’s issuing bank lodges the financial instrument, an unrestricted, pre-advised, confirmed, divisible, transferable UCP600 Documentary Letter of Credit.
8. Within seven (7) banking days from the receipt of the financial instrument from the Buyer’s Bank, the Seller’s Bank sends to the Buyer’s Bank the POP for the contracted quantity, which will activate the financial instrument.
9. Within five (5) banking days from receipt of the POP, the Buyer’s Bank sends the irrevocable, active DLC to the Seller’s Bank.
10. Within ten (10) banking days from the receipt of the acceptable, irrevocable, active DLC from the Buyer’s Bank, the Seller’s Bank sends to the Buyer’s Bank the unconditional 2% Performance Bond Guarantee with Buyer listed as sole beneficiary.
11. First shipment will commence within thirty (30) to forty-five (45) days after Buyer’s financial instrument becomes active and is established in the Seller’s account.
~ IMPORTANT INFORMATION ~
Ø Prices are secured ONLY when the Buyer’s issuing bank lodges financial instrument with Seller’s bank.
Ø Sales and Purchase will be conducted as per international standards (UCP600 and Incoterms 2000 procedures and definitions; URC 522 ICC Uniform Rules for Collection)
UKRAINE SPEC.
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