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LETTEROFCREDIT/DOCUMENTARYCREDIT
SWIFTMT720NORMAL
TRANSFERLCNoumber:XXXX
ADERVISINGBANK:XXXBank,PERU
XXXXBANK,PERU
To:xxxx
From:xxxban
DATE:
27:SequenceofTotal
1/2
40AFORM IRREVOCABLEWITHOUTOURCONFIRMATION
20TRANSFERINGBANKREFERENCE:XXX
21DOCUMENTARYLETTERCREDITNO.:XXXXX
31CDATEOFISSUE:XXX
40EAPPLICALERULESUCPLASTESTVESION
31DDATEANDPLACEOFEXPIRY:1204xxx,CHINA
52DISSUINGBANKOFTHEORIGINAL:XXXBANK,CHINA
50FIRSTBENEFICIARY:XXXCOMPANY,HONGKONG
59SECONDBENEFICIARY:XXXXCOMPANY,PERU
32BAMOUNT: CURRENCYUSDAMOUNTx,000,000.00
39ATOLERANCE: +/-10%
41DAVAILABLE WITH.BYANYBANKNEGOTIATION
42CDRAFTSAT: ATSIGHTFOR98%INVOICEVALUE
42ADRAWEE: ISSUINGBANK
43PPARTIALSHIPMENT: NOTALLOWED
43TTRANSSHIPMENT: NOTALLOWED
44ALOADINGAT: XXXPORT,CHILE
44BFORTRANSPORTTO:ANYPORT,CHINA
44CLATESTDATEOFSHIPMENT:40DAYSFROMISSUE
45ADESCR.OFGOODS:Ironorefine
Quantity:50,000MT(10PCTMOREORLESSALLOWED)
Origin:AGENTINA
UnitPrice:USDXXXPERDRYMETRICTONATBASISOFFECONTENTS67%
Specifications:GuaranteedRejection
FE67%BASIS65%REJECTION
AL2O30.60%MAX1.00%
SIO23.50%MAX4.00%
P0.02%MAX0.08%
S0.04%MAX0.08%
TIO20.10%MAX0.20%
Mn0.03%Max
Physicalsize:0.50mm-10mm73%
Below0.5mm20%
Above10mm7%
Freemoisturelossat105ºCelsius–8.00%Max;above10%rejection
PRICEITEM:CFRANYPORTINCHINAINTERCOM2000
46ADOCUMENTSREQUIRED:
1.THEPROVISIONALPAYMENTWILLBEPAIDAGAGINSTTHEFOLLOWINGDOCUMENTS
A.SignedProvisionalcommercialinvoicefor100%CFRshipmentvalueinthreeoriginalsandtwocopiesindicatingvalueofgoodsshipped,nameofcarryingvessel,contractnumber,B/Lnumber.
B.3/3fullsetoforiginal“Cleanonboard”BillsofLadingmadeouttoorderandblankendorsed,marked"FreightPrepaid"andnotifyingthepartyasinstructedintheBuyer’sL/C.
C.CertificateofQualityandWeightinthreeoriginalissuedbySGSatloadingport.
D.CertificateofOrigininthreeoriginalissuedbyPERUChamberofCommercewithdetailingloadedquality,commodity,andcarryingvessel’sname.
E.Beneficiary’scertifiedcopyoftelexorfaxdispatchedtotheBuyerwithin24hoursadvisingshipmentdetailsindicatingcontractnumber,nameofcommodity,nameofvessel,B/Lweight,approximateinvoicevalue,sailingdatefromtheloadport,andETAatthedischargingport.
F.PackingListinoneoriginalandtwocopies
SEEFIELD47AITEMFOR2%FINALPAYMENTDETAILS
47AADDITIONALCONDITION
1.THEFIRSTBENEFICIARYREMAININGTHERIGHTTOREFUSEUSTOADVISEALLSUBSEQUENTAMENDMENT(S)RELATEDTOTHEORIGINALLCTOTHESECONDBENEFICAIRY
2.WEWILLFORWARDDOCS,AFTERTHESUBSTITUTIONOFDOCSBYTHEFIRSTBENEFICIRYTOTHEISSUINGBANKFORACCEPTANCEANDPAYMENTWITHOUTREFERINGTOYOUINADVANCE.ONLYUPONRECEIPTOFPAYMENTFROMTHEISSUINGBANK,WESHALLREMITTHEPROCEEDSASINSTRUCTED
3.THESECONDBENEFICIARYORHISBANKERISNOTENTITLEDTOFORWARDDOCUMENTSDIRECTLYTOTHEISSUINGBANKORCONFIRMINGBANKNORREIMBURSEFROMTHEDRAWEEBANKDIRECTLY.WEANDTHEFIRSTBENEFICIARYMAYRESERVETHERIGHTTOCLAIMTHESECONDBENEFICIARYORHISBANKERANYLOSSESWHICHWEORTHEFIRSTBENEFICIARYMAYSUFFERORINCURSHOUDTHEDOCUMENTSBEFORWARD.
LCISSSUINGBANKSTATESTHAT:
ADISCREPANCYHANDINGFEEOFUSD60OREQUIVALENTANDRELEATIVE
CABLEFEEWILLBEDEDUCTEDFROMTHEPROCEEDSFOREACHSETOF
DOCUMENTSPRESENTEDWITHDISCREPANCY.
T/TREIMBURSEMENTNOTALLOWED
+Alldocumentsapplicableshallmentioncontractno.
+Toleranceof+/-10%forbothquantityandamount.
+Presentionperiodforprovisionalpaymentdocsmustbepresented
within10daysafterB/Ldate,butwithinvalidityofthethiscredit.
Finalpaymentsdocsmustbepresentedwithinthevalidityofthe
credit
+ThirdPartyDocumentsacceptable,exceptdraftandinvoice.
+Charter’sB/Lacceptable,whichshouldbeissuedbymasterorowner
ofvessel.
+Priceadjustment:
PriceAdjustmentforFEcontent
Foreach1%Fecontentabove67%,thebasepriceshallbeincreasedbyUSD3.00perdrymetrictonsfractionpro-rate
Foreach1%Fecontentbelow67%,butaboveandincluding65%,thebasepriceshallbedecreasedbyUSD5perdrymetrictons,fractionprorate.
ForFecontentbelow65%,theBuyerhastherighttorejectthecargo.
ForexcessofAl2O3
ForexcessAlumina“Al2O3”attherateofUS$0.10perdrymetrictonsorfractionpro-rateforeach0.1%inexcessof0.60%.IfAl2O3contentisexcessof1.00%,Buyerhastherighttorejectthecargo.
ForSilica(SiO2)
ForexcessSilica“SiO2”attherateofUS$0.10perdrymetrictonsorfractionprorateforeach0.1%inexcessof3.50%.IfSiO2contentisexcessof4.00%,Buyerhastherighttorejectthecargo.
ForPhosphorous(P)
ForexcessPhosphorous“P”attherateofUS$0.10perdrymetrictonsorfractionprorateforeach0.01%inexcessof0.02%.IfPcontentisexcessof0.08%,buyerhastherighttorejectthecargo.
ForSulphur(S)
ForexcessSulphur“S”attherateofUS$0.05perdrymetrictonsorfractionprorateforeach0.01%inexcessof0.04%.IfScontentisexcessof0.08%,buyerhastherighttorejectthecargo.
IffreeMoisturelossat105degreescentigradeexceedstheguaranteedmaximum8%,SellershallmakepaymenttoBuyer,whichisequaltofullactualfreightattributabletoMoistureover8%forfines,andifthemoistureisexceeding10%,theBuyerhastherighttorejectthecargo.
Forthesizedistribution,iftheproportionofthesizeover10mmismorethan7%,thepricewillbedecreasedbyUSD1.00perton,andiftheproportionofthesizeover10mmismorethan10%,thewholecargowillberejected.
+FIANLPAYMENTOFTHEBALANCEOFTHECFRVALUEOFTHECARGOPAYABLEAGAINSTDRAFTATSIGHTACCOMPANIEDDOCSASFOLLOWS
+Signedfinalcommercialinvoiceinoneoriginalandtwocopies,basedoninspectioncertificateofweightandinspectioncertificateof
+qualityissuedbyCIQInspectionCertificateofweightinonecopyissuedbyCIQ.(Photocopyallowed)
+InspectionCertificateofQualityinonecopyissuedbyCIQ.(Photocopyallowed)
+TheappshouldsubmitthecopyoftheCIQinspectionreporttothepaymentbankwithin55workingdaysfromthecompletionofunloadingatdischargeportandmeanwhilefaxthecopytobeneficiary.Andthecopymustbepresentedfornegotiation.IncasetheAPPfailedtoprovidethecopiesoftheCIQinspectionwithin55workingdays,thebeneficiarymaydrawthebalancevalueagainstthefollowingdocuments:
+SIGNEDfinalcommercialinvoiceinoneoriginalandtwocopies,basedoninspectioncertificateofweightandinspec
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