ICUMSA 45 No performance bond and overpricing required

RFQ Description

NO 2% PB required.Buyer will take carePAYMENT TERMS. Pursuant to the terms of the contract between BUYER and BUYER MANDATE, payment for the contract value shall be made in the form of Irrevocable Divisible Non-Transferable Letter of Credit issued and confirmed by a prime US bank, payable 100% payable to SUPPLIER. Simultaneously, SUPPLIER agrees to pay to in the form of Irrevocable Divisible Non-Transferable Letter of Credit issued and confirmed byA prime US bank, as directed by the directed by the master fee sheet subject to the approval ofAll parties (i.e. buyers mandate, intermediaries, supplier, etc.)The above terms shall be incorporated into the manual letter of credit, and shall be issued simultaneously with the SUPPLIER receiving any funds from this transition. The payment schedule shall be as follow:CIF UM QASER PORT (LOADED ON VESSEL)90 % OF TOTAL VALUE OF ANY QUANTITY TO BE PAID UPON ARRIVAL OF EACH SHIPMENT TO UM QASER PORT TO RELEASE 90 % OF GOODS VALUE :* UM QASER PORT REPORT CONFIRMING ARRIVAL OF GOODS* CERTIFICATE FROM MOT / SCFT LABORATORY CONFIRMING THAT THE GOODS FIT FOR HUMAN CONSUMPTION AND CONFORM TOCONTRACTUAL SPECIFICATIONS , REPORTED BY TBI AFTER RECEIVING MOT / SCFT CONFIRMATION AND AUTHORIZATION .* COMMERCIAL INVOICE REFERRING TO LETTER OF CREDIT NUMBER AND DATE OF ISSUANCE, AND SHOWING DELIVERY INFORMATION TO INCLUDE ITEM DESCRIPTION, QUANTITY, UNIT, PRICE PER UNIT, TOTAL QUANTITY, TOTAL VALUE, COUNTRY OF ORIGIN , MANUFACTURER/COMPANY, POINT OF ENTRY, AND DELIVERY TERMS SWIFT CODE (FOR BOTH IRAQI AND FOREIGN BANK) NAME OF ACCOUNT HOLDER , AND ACCOUNT NUMBER FOR SELLERS FOREIGN BANK .2 TO RELEASE REMAINING 10 % THE REMANING 10 % SHALL BE PAID AFTER DELIVERING THE COMMODITY AT UM QASER PORT AND THE PORT REPORT COMPLIANCE CONFIRM THE TOTAL QUANTITY AND QUALITY ACCORDING TO CONTRACT TERMS AND CONDITIONS .AND CERTIFICATE FROM MOT / SCFT LABORATORY CONFIRMING THAT THE GOODS FIT FOR HUMAN CONSUMPTION sugar, brazilian sugar ambulance