Rice Round Raw, Buy, EC
Buyer is ready to buy (LOI), receive commodity and looking for Seller is ready to offer (SCO), transfer commodity on Incoterms basis. SUBJECT OF THE LETTER OF INTEND (LOI). The SELLER undertakes to supply and transfer to the BUYER, and the BUYER undertakes to accept the Goods and to pay it on the terms of the present LOI. Title of goods. Notwithstanding delivery of or the passing of risk in the goods to Buyers or any rule, regulation or provision to the contrary, title of goods shall not pass to the buyers until sellers have received payment of their invoice value in full in accordance with the terms of this LOI.
Quality in accordance the following specification: Raw Round Grain Rice
Moisture: max 14 %
Foreign matter: max 2 %
Grain admixture: max 6 %
Date of delivery corresponds to date of B/Ls.
Carriage: Shipments in containers. 14 free days for detention and demurage (merged) at discharge port as per shipping line rule.
Terms of payment negotiable depends of conter party:
Payment for goods to be made by the Buyer in USD or EUR by
- LC at sight or
- cash transfer CAD (Cash Against Documents) or
- CAFD (advance 20/ 80 INCASSO or original fax copy) to the Seller’s account:
specimen of CAFD
- 20% advance payment within 3 banking days against presentation to buyer following documents by fax or scanned original copy by e-mail:
a) Preliminary commercial invoice for the for 20% value of goods to be delivered;
- Balance payment within 3 banking days against presentation of original shipping documents to Buyer’s bank:
a) Commercial Invoice;
b) Full set of 3/3 original;
c) Certificate of Origin;
d) Quality and Quantity certificate;
e) Fumigation Certificate (Al. Phostoxin);
f) Phytosanitary Certificate;
g) Packing List
Quantity and quality of goods final at place of stuffing into containers as per Certificate issued by GAFTA Member inspection company at the Seller's account.
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