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Date Issued 9 17 08LETTER OF INTENT TO SELLERWe hereby state and represent that it is our intention to purchase, and we hereby confirm that we are ready, willing and able to purchase the following commodity as per the specification and in the quantity and for the price as specified in the terms and conditions as stated below.We are purchasing the required product as an independent Buyer COMMODITY Long Grain White Rice ORIGIN Asia OR any countrySPECIFICATION 100 percent broken may be fragrant riceQUANTITY 100, 000 MT CONTRACT LENGTH 6 to12 months LOADING PORT any DESTINATION PORT ASWP (any safe world port) TARGET PRICE USD 520 per MTSHIPPING TERMS CIF- ASWPDELIVERY TIME 2 to 3 weeks INSPECTION Quality, Quantity Weight by SGS at seller& cost at loading port.PAYMENT Irrevocable, Revolving, Transferable Confirmed LC at sight 100 percent in USDPBG 2 percent to be submitted by seller broken rice, 100% broken rice rice, wheat, iron ore, gold, corn