USED RAILWAY SCRAP R50/R65

TRANSACTION TERMS:

1-  Buyer counter signs FCO for acceptance of the conditions & terms of seller and resends back with official company registration certificate.

2-  Seller issues SPA “ sales & purchases agreement “ for to review and sign & seal ( both PDF and Word format )

3-  Seller final review (SPA) if any amendments necessary and issues official commercial invoice and send both to buyer within five banking days final signed and sealed .

4-  Buyer initiate the draft letter of MT700 confirmed, ( Revolving ) and Irrevocable LC with full guarantee from the buyer’s bank for the total contract value for the seller’s bank to review and confirm.

5-  Seller finalized the LC draft review and are ready to obtain the above said LC.

6-  The buyer bank should record to activate the above said LC within 14 days after the issuing of commercial Invoice ( Step 3 above ) and release the Letter of Credit ( LC ) to the bank or financial institution for issuance by above said LC Buyers bank issues the LC MT700 with total contract value coverage, MT700 Confirmed ,Irrevocable , ( Revolving ).

7-  Seller issues a performance Bond Guarantee of 10% of the total contract value as performance bond bank guarantee as PBG to the buyer’s account bank against the LC .

8-  Shipment delivery starts according to agreed time schedule .

“Inspection if wished in Saudi Arabia is only possible after MT-705 or MT-700 Confirmation“