IRON ORE 64.5% Fe from BRAZIL

Commodity:Sinter Feed Iron Ore 64.5% Fe (rejection at 63.5%)

Origin:Brazil

Price:$155 USD/MT

Loading Port:Brazil

Discharge Port: One safe berth :– China or any ASWP

Packing:Bulk

Incoterms:CIF

Shipments Commence:30 to 60 days

Quantity:SELLER shall sell and deliver and BUYER shall take delivery, on an evenly spread basis, and pay for the following quantities of ORE under the TERM (in metric tonnes)

Per Year 1,800,000 MT or higher

Delivery Variation:5 % more or less at Seller’s option

Payment Terms:

Option # 1.

Buyer shall open an irrevocable, confirmed, revolving, transferable or non transferable first-class bank Documentary Letter of Credit (RDLC) in favour of the Seller, 100 % payable at sight ( Loading Port ) for the value of shipment by shipment against presentation of the documents. The Letter of Credit shall be valid for 12+ 3 months.

Option # 2.

Buyer shall open an irrevocable, confirmed, revolving, transferable or non transferable first class bank Documentary Letter Of Credit ( RDLC) in favour of the seller, 98% payable at sight ( loading port ) and 2 % at destination port . The Letter of Credit shall be valid for 12 + 3 months.

Option # 3.

Buyer shall issue an Irrevocable, confirmed , Bank Guarantee in favour of the seller with 12 month + 45 days validity or 15 month for the entire contract in favour of the seller, 98% payable at sight ( loading port ) and 2 % at destination port.

Option 4

Buyer shall issue an Irrevocable, Conditional Telegraphic Transfer ( TT ) to seller’s account prior loading by top Western bank in Hong Kong or in UK , payable at loading port . no need iuuse BG, buyer only need to issue TT each time before shipment,but we prefer to sign with the end buyer not middleman.

Remark:

The LC shall be opened by the Buyer within fifteen (7) days after signature of the contract. If Buyer delays to establish the DLC, Seller shall have the right to delay the shipments until the DLC is advised and received by Seller. In this case any costs, risks and expenses related to the delay shall be at Buyer’s account and vessel shall have its lay time counted as from the beginning of the loading operations.

Documentations:

1 SELLER’S commercial invoice in triplicate, based on the weight stated in the B/L and the actual Fe and moisture contents stated in Certificate of Analysis.

2 Full set of 3/3 original B/L, clean on board, issued to order, blank endorsed and marked ‘freight payable as per charter party’, setting forth the weight in metric tons, evidencing shipment from loading port to discharging port.

3 Certificate of Weight in one original and three copies issued by an independent surveyor, showing actual weight of cargo certified by draft survey.

4 Certificate of Analysis in one original and three copies issued by an independent surveyor, showing the results of test of chemical composition, size distribution and moisture called for in contract.

5 Certificate of Origin in one original and three copies issued Chamber of Commerce or Chamber of Commerce and Industry in Brazil or other Local Authority.

6 Copy of facsimile sent by SELLER to BUYER within seven (7) working days after shipment date advising shipment details including name of carrying vessel, name of ore , invoice value, gross weight and B/L No. and date.

In order to facilitate the transaction the following Proceduresare required:

PROCEDURE AND TERMS

1. The buyer must provide all information within the contract that has been left blank, and replace the words "Western Bank" with the name of their Bank if different than recorded.

2. Must sign the contract and send to the Seller for signature – along with draft copy of l/c. The Seller will sign originals of the contract and will send back to the buyer via email, with originally signed, hard copy documents to follow via international courier service if required.

3. Buyer issues RWA ( draft text available), Seller responds bank to bank, POP

3A. The Buyers will issue the operative Letter of Credit and notify the seller of its issuance in his favor on or before…

4 After reception by Seller of the Letter of Credit and verification that the swift matches the contract terms, the Performance Bond will be issued to activate the L/C

5. The First shipment will commence no later than 45 (forty-five) days from date issued of the operative Letter of Credit. The remaining consignments will be shipped in each 30 (thirty) day periods as defined in the Appendix.

6. Effect of payment for each consignment shall be effected within 3 (three) banking days after receipt by the Seller's Advising Bank of all documents required for payment.

7. Upon clearance of funds, disbursement of funds received at the advising bank of the Seller to pay commissions, shipping fees and yard fees shall occur under Seller's mandate

SPECIMEN OF“ READINESS, WIlLING AND ABLE”

(KTT/ FORMAT SWIFT)

BANK REFERENCE:

DATE:

TO “ RECEIVING BANK”

BENEFICIARIES

ACCOUNT NUMBER (USD): xxxxxxxACCOUNT NAME (USD)SWIFT CODE (USD) ..-t.-

WE, (NAME AND ADDRESS OF THE BANK), FOR AND ON BEHALF OFOUR CLIENT AND ACCOUNT HOLDER, (NAME AND ADDRESS OF THE BUYER), HEREBY CONFIRM WITH FULL RESPONSIBILITY OUR READINESS TO ISSUE IRREVOCABLE, NON – TRANSFERABLE STAND BY LETTER OF CREDIT

WE GUARANTEE TO ISSUE THE INSTRUMENTS WHICH CAN CONFIRM FROM ANYHONGKONG BANK/OR BRANCH OF ISSUE LC

FURTHER, WE HEREBY CONFIRM OUR READINESS AND WILLINGNESS TO ELECTRONIC TRANSFER THE FINANCIAL INSTRUMENT UPON YOUR INSTRUCTION AND WITHOUT ANY DELAY, ON A BANK-TO- BANK BASIS.

SINCERELY,

BANK OFFICER BANK OFFICER

TITLE TITLE

“SEAL OF THE BANK”

PRODUCT SPECIFICATIONS:

CHEMICAL AND PHYSICAL SPECIFICATION

ELEMENT	MIN. AND MAX BASIS TEXT	REJECTION
Fe	64.5% MIN	63.5% Min
SiO2………. .	3.6 % MAX	4.5% Max
Al2O3……..	2.23% //	3.5% Max.
Mn…………	0.08% //	0.15% Max
LOI………..	0.70% //	0.80% Max
P…………..	0.015% //	0.027% Max
S…………..	0.005% //	0.007% Max
Na2O………	0.015% //	0.007% Max
K2O………	0.005% //	0.008% Max
TIO2………	0.03% //	0.08%% Max.
CaO………..	0.012% //	0.02% Max
MgO…………	0.03% //	0.022% Max
Sn……………	<.01% //
Cr…………..	<0.004% //
Zn………….	<0.01% //
Pb…………..	<0.005% //

PHYSICAL SPECIFICATION TYPICAL ANALYSIS

SIZE: 0 mm to 10 mm
0-3 mm	30% Min
3-5mm	60% Max
5-10 mm	10%max

TYPE OF IRON ORE:SINTER FEED (SSF)

 The above guaranteed specifications in respect to chemical composition; moisture and physical composition shall be ascertained in accordance with the applicable ISO procedures and shall apply to each shipment of ORE.

Price is subject to change without notice due to market condition.

ICPO should be addressed to: .......xxxxx

After Buyer have been accepted the above price and procedures along with the submission of a Letter Of Intent.