NEW 2021 SCO – LME-18 – Copper Cathodes – Grade A (ASTMB-115-00) 99.99% Purity – Monthly delivery Up to 7,500 Mt – CIF Basis Main China Central Ports
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SCO Copper Cathodes
We have the pleasure to inform you that our group have negotiated this excellent option related to sale Copper Cathode as per below Draft:
CORPORATE OFFER FOR COPPER CATHODES
|
Commodity |
Electrolytic Copper Cathodes Grade A (99.97 – 99.99%) |
|
Country (ies) of Origin |
RDC I Zambia |
|
Contract Period |
12 Months {with rollovers and extensions) |
|
Trial Quantitv |
1,000 MT – Trial order |
|
Non-Trial Quantity |
Up to 7,500 mt per month |
|
Delivery Terms |
CIF (INCOTER MS 2020 ) |
|
Discharqe Port |
ASW P |
|
Price |
LME minus 18% per metric ton |
LME Cash Settlement value (Bid quote, LME Grade “A” Copper per mt (in USO) published at 15:50 GMT (second trading session) via www.lme.com on the day the Out-Turn Results certificate are received) minus 18.00% discount
lnspection: Certified at the loading port by SGS/Alex Stewart or Equivalent at loading port
Payment terms: In accordance with ICC UCP 600 agreement and ISP98, Buyer’s bank shall issue a 100% Irrevocable Standby Letter of Credit for the trial order of 1,000mt via SWIFT MT 760.
For the non-trial quantity (annual contract for the second to the 12th month), the buyer shall establish Irrevocable Documentary Letter of Credit {via SWIFT MT 700) covering 100% value of the shipment.
Performance Bond: Seller shall issue 2% Performance Bond (PB) after the Seller receives the Buyer’s bank instrument for the trial order and monthly order; within seven (7) days of receiving the payment instrument.
ANNEX 1 – GUARANTEED SPECIFICATIONS
Grade A (ASTMB-115-00) 99.99% Purity – Max impurities PPM
- CHEMICAL COMPOSITION
|
ELEMENTS, UNIT |
VALUE |
ELEMENTS |
VALUE |
|
Copper(Cu),% |
99.99 |
Silica(Si) ,PPM |
0.3 |
|
Cobalt(Co),PPM |
0.2 |
Bismuth(Bi),PPM |
0.1 |
|
Lead(Pb),PPM |
0.2 |
Tellurium(Te),PPM |
0.05 |
|
lron{Fe),PPM |
2 |
Silver(Ag),PPM |
10 |
|
Aluminium(Al),PPM |
0.5 |
Selenium(Se).PPM |
0.3 |
|
Manganese (Mn), |
0.1 |
Sulphur(5),PPM |
4.0 |
|
Nickel(Ni),PPM |
0.2 |
Magnesium(Mg), |
0.4 |
|
Antimony(Sb),PPM |
0.1 |
Zinc(Zn),PPM |
0.4 |
|
Arsenic(As),PPM |
0.1 |
Oxygen(0),PPM |
Nil |
- PHYSICAL COMPOSITION
Dimensions: 914 mm x 914 mm x 12 mm (LME Standards)
Weight of each sheet: 125 Kilograms (Approximately ± 1%)
Net weight of each pallet: 2.000 Kilograms (Approximately ±1%)
Net weight per container: 20.0 Metric Tons (Approximately ± 1%)
Gross weight per container: 22.2 Metric Tons (Approximately ± 1%)
Length, width and thickness of each sheet shall be equivalent to generally accepted LME and internationally accepted measurements. The copper cathode surface condition shall be free of imperfections, defects and excess exposure to outdoor weather.
SALES PROCEDURE
- Seller issues Soft Corporate offer signed & sealed
- Buyer issues LOI/RWA with full banking coordinates and permission for Soft
- Seller issues Draft
- Buyer signs the Draft Contract and sends it back to the
- Seller issues the final Contract to the
- Buyer’s bank issues and sends by SWIFT MT 760 operative Standby Letter of Credit (SBLC) for the trial order quantity with 48 For the trial order, payment guarantee acceptable is strictly SBLC.
- Seller posts Performance Bond (PB) for the value of 2% after receipt of valid and operative SBLC
- Delivery schedule begins as per Contract. Buyer can perform a physical inspection at the time of loading of product together with SGS/Alex Stewart or any other appointed inspection company as per the
- Upon delivery of the cargo as contract and submission by the Seller’s bank of the complete documentation as per Addendum below (POP) to the Buyer’s bank, the Buyer’s bank shall release 100% value of the cargo delivered via SWIFT MT103 to the Seller’s bank with 48
1O. After delivery of the trial order is completed, a revolving DLC shall be established by the Buyer covering monthly shipments as per delivery schedule mutually agreed upon by both parties in the Contract and payment effected upon delivery as per the addendum below:
ADDENDUM:POP
After the buyer’s issuing bank receives the following documents mailed through secure courier from the seller’s bank, SBLC for the trial order and DLC for the annual contract guarantee that the buyer will pay the seller the full payment within two working days:
- A full set clean, shipped on board, ocean bill of lading, blank endorsed, blank order, marked “Freight Prepaid” in three originals and three
- Commercial invoice showing Contract , Seal No., Container(s) No., and Name of carrying vessel and shipment number, one original and two copies.
- Packing list showing Contract , Seal No., Container No., Gross Net Weight and number of ocean bill of Lading, one original and two copies.
- Certificate of Origin, one original and two
Certificate of Quality and Quantity issued by SGS or Alex Stewart at discharging port, Stamp of the buyer’s official seal on the inspection certificate, One copy.
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