REFINED CANE SUGAR ICUMSA 45 RBU ORIGIN BRAZIL NLM 1
REFINED
BROWN RAW SUGAR IC 800/1200 ORIGIN BRAZIL
THESE PROCEDURES ARE NOT NEGOTIABLE
Buyer issues an ICPO + SOFT PROBE AND BANK RWA, to Seller’s MANDATE
Procedures and Terms:
SELLER ISSUES DRAFT CONTRACT IN FAVOUR OF THE BUYER.
Buyer and Seller will sign the Contract only digitally via email.
The Buyer’s bank will send a Pre-advise SBLC or banking RWA signed by 2 banker officers to the Seller’s bank or to the seller.
On buyer’s request, only after receipt the pre-advise SBLC from the buyer’s bank, the seller will send via Express mail 2 hard originals signed and sealed contracts to the buyer, except behalf of the co-seller TS-Imperial, who will only sign digitally, and the Pro Forma Invoice.
The payment instruments have to be issued, confirmed and guaranteed by a TOP 100 world prime bank acceptable to the Seller.
Upon receipt of the Operative, Irrevocable, Divisible, Transferable, Assignable, Unencumbered SBLC, from the Buyer’s Bank, the Seller can send, on Buyer’s request, within 10 days, via courier or Swift, at Seller’s choice, the “Proof of Product” (POP) in the form of a hard copy POP, and 2% performance bond.
The initial shipment of product loads within 30-40 days from the date of receipt of the operative and transferable Standby Letter of Credit.
Within 10 days of Buyer and Seller agreed with the terms and conditions of Irrevocable, assignable, unencumbered, divisible, operative and transferable stand by letter of credit, Buyer will point the Seller in writing the particulars of the discharge ports relevant to the next month shipments according to this agreement if not written in the schedule for delivery table below.
Bank contact is only permitted between the buyer’s bank and our bank. Direct contact with our Bank by the buyer will be considered as contract breach, liable to pay an indemnity of 2 % over the non delivered goods.
WITHIN TEN (10) BANKING DAYS OF RECEIPT OF THE NON-OPERATIVE STAND BY LETTER OF CREDIT (L/C),THE SELLER WILL POST THE OPERATIVE 2% PERFORMANCE BOND AND PROOF OF PRODUCT IN FAVOR OF THE BUYER WHICH WILL ACTIVATE THE NON-OPERATIVE STAND BY LETTER OF CREDIT (SBLC).
WITHIN TEN (10) BANKING DAYS OF RECEIPT OF THE OPERATIVE STAND BY LETTER OF CREDIT (SBLC), THE SELLER WILL POST THE OPERATIVE PERFORMANCE BOND AND PROOF OF PRODUCT IN FAVOR OF THE BUYER WHICH WILL ACTIVATE THE NON-OPERATIVE STAND
TERMS OF PAYMENT YEARLY CONTRACT:
BUYER’S BANK PAYMENT INSTRUMENT WILL BE AN IRREVOCABLE, TRANSFERRABLE, UNENCUMBERED, DIVISIBLE AND ASSIGNABLE STAND BY LETTER OF CREDIT FOR THE SUM OF USD$ XXXXXXXXXXXXXX COVERING ONE (1) MONTH SHIPMENT QUANTITY AND VALUE THAT WILL ACT AS A COLLATERAL SECURITY GUARANTEE TOWARDS SUCCESSFUL COMPLETION AND LIFTING OF THE CONTRACTED QUANTITY WITH A MATURITY DATE OF THIRTEEN (13) MONTHS. PAYMENT OF EACH SHIPMENT WILL BE MADE BY SWIFT MT 103/23 PAYABLE AT SIGHT INTO THE SELLER’S BANK, WITHIN FIVE (5) BANKING DAYS FROM THE DATE OF PRESENTATION OF SHIPPING DOCUMENTS. IF THE FINANCIAL INSTRUMENTS ISSUED BY THE BUYER TO THE SELLER IS NOT IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT OR IS NOT ACCEPTABLE TO THE SELLER AND THE SELLER’S BANK, THE SELLER’S AND BUYER’S BANK MUST DISCUSS AND ATTEMPT TO RESOLVE AMICABLY ANY EVENTUAL MINOR DISCREPANCIES.
PERFORMANCE BOND
AFTER RECEIPT OF NON-OPERATIVE FINANCIAL INSTRUMENT, THE SELLER’S BANK SHALL POST AN OPERATIVE PERFORMANCE BOND FOR THE VALUE OF 2% OF THE SHIPMENT VALUE ON AN AUTOMATIC REVOLVING BASIS UNTIL THE TOTAL QUANTITY HAS BEEN SHIPPED.
PRODUCT INSURANCE
SHIPMENT OF THE GOODS SHALL BE INSURED FOR 110% OF THE FACE VALUE OF EACH CARGO. THE INSURANCE POLICY MUST BE EITHER ISSUED OR ASSIGNED OVER TO THE BUYER OR THEIR DESIGNATED PARTY, AND BE FULLY TRANSFERABLE.
PRODUCT WEIGHT AND QUALITY
THE SELLER GUARANTEES THAT EACH SHIPMENT SHALL BE PROVIDED WITH AN INSPECTION CERTIFICATE OF WEIGHT, QUANTITY AND QUALITY AT TIME OF LOADING AND SUCH CERTIFICATE SHALL BE PROVIDED BY SOCIETE GENERALE DE SURVEILLANCE (SGS) ONLY AT SELLER’S EXPENSE, AND SHALL BE DEEMED TO BE FINAL. THE SELLER SHALL INSTRUCT SAID AUTHORITY TO CARRY OUT THE INSPECTION IN STRICT ACCORDANCE WITH THE INTERNATIONAL CHAMBER OF COMMERCE (I.C.C.) RULES. SOCIETE GENERALE DE SURVEILLANCE (SGS) ALSO WILL PROVIDE PACKING CONDITION REPORT THE BUYER SHALL, IF DESIRED, AND AT HIS OWN EXPENSE PROVIDE ADDITIONAL INSPECTION AT PORT OF LOADING TO CONFIRM LOADING.
THE BUYER WILL BE ALLOWED TO SEND AN AGENT TO THE PORT OF LOADING TO SURVEY THE SOCIETE GENERALE DE SURVEILLANCE (SGS) CERTIFICATION.
IF DISCREPANCIES SHOULD AT ANY TIME AND IN PARTICULAR CASE RESULT IN RELATION TO THE INSPECTION CERTIFICATE(S) ISSUED AT THE PORT OF LOADING AND DESTINATION, IT IS HEREBY AGREED THAT ARBITRATION SHALL BE EMPLOYED AND NEUTRAL BINDING ARBITRATION BY THE INTERNATIONAL ARBITRATION ASSOCIATION UNDER THE CODE OF PROCEDURE THEN IN EFFECT SHALL PREVAIL. ARBITRATION DECISIONS ARE FINAL AND LIABILITY WILL GO TO THE PARTY IN DEFAULT
SPECIFICATIONS
REFINED SUGAR ICUMSA-45 SPARKLING WHITE ORIGIN BRAZIL
POLARIZATION: 99.80 Degrees min.
ASH CONTENT: 0.04 Max.
ICUMSA: 45 RBU
SOLUBILITY: 100% Dry and Free Flowing
COLOR: Sparkling White. Maximum 45 Icumsa attenuation index units
RADIATION: Within internationally accepted limits.
GRANULATION: Fine to Medium
MOISTURE: 0.4% Max.
MAGNETIC PARTICLES: 4Mp/k
SO2: 70 Mg/k
ASH BY ELECTRICAL CONDUCTIVITY: 0.04% Max. [on dry weight basis]
SULPHUR DIOXIDE: 20 mg/kg Min.
SEDIMENTS: None.
SMELL: Free of any Smell
REDUCING SUGAR: 0.05% Max. by weight.
HPN STAPH AUREUS: Nil.
MAX AS: 1 P.P.M.
MAX PS: 2 P.P.M.
MAX CU: 3 P.P.M.
SUBSTANCE: Solid Crystal
(FOR MORE INFORMATION ABOUT PRICE OR SPOT PROCEDURES CLICK HERE)
