2.      Origin:                                     Surigao, Philippines

3.      Quantity:                                  600,000 Metric Ton

4.      Duration:                                 One (1) Year Contract

5.      Shipment:                               FOB(US$26.50)/mt

6.      Destination:                             Any China Major Northern or Southern Port

7.      Packaging:                               Loose Cargo/Bulk

8.      Scheduling:                              30 to 45 days upon receipt of MT76 and/or DLC.

9.      Loading port:                           Adlay Port, Surigao del Sur

10.  Performance bond:                  Two Percent (2%) commodity value from Seller.

11.  The mine visit is on the Buyers discretion before issuing financial documents.

12.  Payment Terms: Buyer’s Bank will issue an Irrevocable, Unconditional, Divisible, Assignable Proceeds and Confirmed PRIME SWIFT MT760 and/or DLC for the sum of FOB: US$26.40.

13.  For PRIME SWIFT MT700 covering up to the last month, auto-revolving monthly shipment value and quantity that will act as a collateral security guarantee towards successful completion and lifting of the contracted quantity with a maturity date of Fourteen Months. 

14.  INSPECTION: SGS, CCIC / Intertek at seller’s cost shall inspect the commodity at the port of loading. SGS, CCIC / Intertek shall issue an Inspection Certificate of the loaded quantity and quality for each shipment to certify that the goods are in good order and conditions conform to the specification herein stated.