Buying N°599108:
30/05/2023 07:34:45
specifications
commodity : scrap/used carbon steel railway rails
tariff number(s) : hs code 73021090 rails, iron, steel/hs code 72044990 waste, scrap, iron
conditions : isri guideline ferrous scrap fs 2022 (isri code 28b & 28c)
steel grade : carbon steel
cropped length : between 1.0meter 1.5meters
sale terms : cif cost, insurance & freight (incoterms® 2020)
destination port : port of tangshan (cntgs)
monthly order : 75000mt 150000mt
contract length : one (1) year with option to extend
payment instrument : sblc mt760 [within three (3) business days after successful sgs/ccic inspection at destination port]
procedures for carbon scrap trading with sblc full settlement :
parties shall abide by the following contractual procedures :
1. seller issues contract in word.
2. buyer reviews and returns contract to seller completed with buyer’s banking information, along with sblc verbiage from buyer’s bank in favors of the seller
3. seller will issue counter signed final contract. buyer and seller lodges contract in respective banks.
4. the seller agrees to provide the following documents copies via bank officer’s email :
seller will issue an rwa from the bank to buyer
certificate of origin.
5. the buyer will present a draft of the mt799 rwa and the verbiage of the swift mt760 to be approved by the seller before the firm shipment of the swifts.
6. the banks of both parties can conduct background investigation before business through via swift message (mt799/mt199) of the banking system.
7. buyer will issue mt799/pre advice via bank to bank
8. seller will issue mt799 (ready to receive sblc) via bank to bank.
9. seller send pop (proof of product) bank to bank.
10. seller starts the loading and delivery process within the agreed time frame.
11. seller sends scan copy of the shipping documents to the buyer and his bank
12. seller sends original shipping documents to the buyer's bank.
13. seller issues 2% performance bond
14. buyer’s bank sends mt760 swift in favors of seller. sblc mt760 will be issued by a first line bank (top 50), being, confirmed, free of impediments, unconditional with value of one month contract us$ xx.x00.000.00, referring one (01) months of loading, the last, with valid per twelve (12) months and one (1) day.
15. upon arrival at destination port, seller issue pop and sgi/ccic test result at seller’s yard. the surveyor sgs/ccic to conduct carbon steel scrap quality, specifications and quantity analysis onsite of unloading destination port and the results are tendered to all relevant parties.
16. buyer will send sblc hard copy to buyer’s bank within three (3) business days after successful sgs/ccic inspection at destination port.
17. seller release the title of ownership and all export documentation to buyer.
remark :
sblc/mt760 (full settlement for each cif shipment cargo)
please send price quotation for used carbon steel rails per metric ton in usd
sales terms : cif port of tangshan incoterms® 2020
mandatory requirements
recent metal analysis of steel rails conducted by sgs/bureau veritas/similar
seller must be able to issue an rwa from the bank to buyer after receiving letter of intent
