RFQ Description
SUGAR IC-45 SPOT MT U$D Prices12.5001 x 12,500425,0025.0002 x 12,500415,0050.0002 x 25,000405,00100.0004 x 25,000395,00Sugar characteristics Standard ICUMSA-45 Brazilian Sugar, international specificationsICUMSA 45 RBUPolarization at 20° 99.80% degrees minimumAsh by elec. Conductivity 0.04 max (on dry weight basis)ICUMSA 45 RBUMoisture 00.04 % maximumSulphur dioxide 20 mg/kg min.So2 70 mg/kGranulation fine to mediumSolubility 100% dry and free flowingRadiation normal certified within internationally accepted unitsColor crystal white, maximum 45 ICUMsa attenuation index unitsSediments noneSmell free of any unusual or abnormal odorMagnetic particles 4mp/kReducing sugar 0.05% max by weightMax AS 1 p.p.m. Max PS 2 p.p.m Max CU 3 p.p.m.Substance solid crystalCrop, year currentCertificates of quantity & quality, on Seller’s account, just before loading time of each ship that will carry the sugar to your final destinations.PROCEDURES ICC-600 1. BUYER raises a LOI (Letter OF Intention) to the seller with bank coordinates2. Upon receiving an LOI, though, SELLER issues an FCO (FIRM CORPORATE OFFER) and sends it to the interested BUYER, whereby he not only gives all information in connection with the BUYER’s intention, but now he effectively makes a reservation of product, by defining a validity period for the FCO, with an EXPIRATION DATE, normally giving eight (8) days’ time for the BUYER to decide. Upon termination of informed FCO validity and not having the SELLER received any answer, the FCO is automatically cancelled.3. If the BUYER remains interested upon receiving and studying the FCO, he will issue and send to SELLER within the FCO’s validity term an ICPO (Irrevocable Corporate Purchase Order), whereby he confirms his decision to effectively purchase the product. 4. Upon receiving the ICPO from BUYER, SELLER issues a CONTRACT DRAFT and sends it to BUYER, along with the CLIENT REGISTRATION FORMS. SELLER and BUYER will then discuss all aspects related to the transaction and, upon reaching common ground, BUYER signs an electronic copy of the Contract and sends it to SELLER over E-mail along with the fully completed registration forms.5. Within three (3) banking days upon receipt of signed electronic Contract from BUYER, SELLER creates and applies CLIENT NUMBER & CONTRACT NUMBER, signs and sends back to BUYER over E-mail.6. Within ten (10) banking days upon the remittance of the finished electronic version of the Contract, SELLER then prints and signs by hand four (4) hard copies of the Contract and sends them over International Courier to BUYER.7. Within three (3) banking days upon receipt of documents, BUYER signs them, retains two (2) copies and sends the remaining two (2) back to SELLER, via the same or similar International Courier.8. Within five (5) banking days upon signature of Contract Hard Copies, BUYER lodges one of the copies with his Bank as defined on the Contract. SELLER will do exactly the same upon receiving back the signed Contract copies from BUYER.9. Within ten (10) banking days upon lodging the Contract copy, BUYER shall instruct his Bank to issue and send over SWIFT to Seller’s Bank a PROOF-OF-FUNDS (POF), generally in the form of an RWA (READY, WILLING AND ABLE) Letter, signed by Buyer and endorsed by Buyer´s Bank Officers or Account Managers.10. Within ten (10) banking days from receipt and acceptance of POF received from BUYER’s Bank, SELLER shall E-mail to Buyer a PROOF-OF-PRODUCT (POP), in the form of a notarized Affidavit confirming the existence and availability of the product for the signed Contract. POP may also consist of a Warehouse Certification in the name of Final Seller. Seller shall also send an Instrument of Shipment-by-Shipment Payment, to be defined in the Contract after negotiation.11. Within five (5) banking days from receipt and acceptance of POP, BUYER shall instruct his Bank to issue and send to Seller´s Bank over SWIFT-MT-760 a STANDBY LETTER OF CREDIT (SBLC) or a BANK GUARANTEE (BG), for the value of one month of deliveries, with validity of 14 months and 1 day covering 30-45 days of INITIAL LOADING COUNT DOWN TIME, 12 months of deliveries and 1 month for the last shipment to arrive to destination port.Within 10 (ten) days upon receipt and acceptance of Guarantee Instrument, SELLER shall instruct his Bank to issue and send over SWIFT a non-operative PERFORMANCE BOND (PB), valued at two percent (2%) of one monthly delivery, in the form of a Revolving Documentary Letter of Credit (RDLC), valid for the full Contract length.12. Acceptance of PB by BUYER shall render operative all former non-operative instruments and time for the start of the first loading and delivery operation as defined in the Contract starts counting down, as per Delivery Schedule. BUYER shall have the right to make inspections at loading time of the ships that will carry the product to his destinations. No other visits or inspections will be allowed, due to Brazilian Ports Security Areas leg
