*LETTER OF INTENT*
(LOI) TO PURCHASE
SUGAR
Please find below the LOI/ICPO form for you to fill in. This shall be copied onto your company letterhead. All the points shall be present, none removed. Price, specification, quantities, terms of delivery and payment shall be agreed on preliminarily to avoid further amendments. Please include a BCL with your LOI or the authority for the seller to do a soft probe on buyer's account.
Instructions:
1) Buyer / Broker sends complete contact information for NCNDA
2) The LOI must be typed on the Principal Buyer's letterhead.
3) The LOI must be newly dated and no older than 3 business days.
4) The LOI must be in the verbiage and format listed below.
5) The Buyer's Direct or Confirming Bank must be a Top 25 World Bank.
6) Buyer submits the LOI and BCL.
(Please copy the LOI Form and paste it in the word doc and send it back to us)
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DATE:
REFERENCE NO:
BUYERS REF NO:
To: Scot Jay
Through ( Your name here )
We __________ hereby confirm with full corporate authority and legal responsibility under penalty of perjury that we are ready, willing, and able to purchase the following commodity as specified below and certify that we have available full funding for the purchase of said commodity, under the terms and conditions, pending our mutual acceptance of final contract.
Contact Name:
Company:
Phone:
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Product:
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White Refined Cane Sugar
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Type
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ICUMSA 45
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Grade:
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A
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Origin:
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Brazil
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Quality:
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Standard Internationally Acceptable Specs.
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Destination Country:
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Destination Port:
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Terms of Delivery:
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CIF Conditions Incoterms 2000
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Contract Period:
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Total Quantity:
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Quantity per Shipment:
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Quantity per Month:
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Target Price USD Per MT CIF:
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Insurance:
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Sellers Cost
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Inspection:
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Quality, Quantity by SGS or BIVAC on
Seller’s cost at port of loading.
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Shipping:
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30-45 days after receipt and acceptance of LC
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Packing:
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Rate of discharge/day:
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____________ Metric Ton Per day
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Loading:
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All costs at the port of loading for the account
of the seller. All costs at the port of unloading for the account of the buyer.
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Terms of payment:
(Or as Agreed between buyer and seller)
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100% at sight, automatic revolving, FF irrevocable, confirmed, operative, transferable,, non-negotiable LC. Performance bond 2 % issued by seller to assure fulfillment of contract. If the letter of credit is revolving then the Performance bond shall revolve monthly for 2% percent of the monthly financial instrument value.
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Documents:
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3/3 of bill of loading. “Clean on Board and Marked “Freight Pre Paid”. (3 Originals + 3 copies. / Certificate of weight, Quality issued by SGS or compatible authority. / Certificate of origin issued by chamber of commerce. All necessary certificates issued by SGS or similar authority./ Inspection Certificate of the
vessel./ Signed commercial invoices./packing list of each shipment loaded on the ship per M/T -/+ 5 %
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The buyer is of the understanding that any and all offers and/or contracts are subject to successful seller verification of funds and that said Seller thus has written permission to conduct a soft probe of Buyers account.
The buyer is aware that this LOI issued today, ________ is the only current active and has been offered to Whom it May Concern for the release of (FCO) FULL CORPORATE OFFER. This takes precedence over any other LOI currently in circulation for this commodity.
This Letter of Intent is valid for five (5) business days and is exclusively being submitted to only your group during the validity period. Please submit Formal Corporate Offer or Draft Contract. I/We understand that any and all offer’s and/or contracts are subject to Seller’s successful soft probe of Buyer’s financial capability and Good Standings of Buyer's account. I/We being of legal authority, grant the right and permission to Seller to conduct a soft probe of the following Buyer’s bank account and financial capability listed herein.
Authorized Executive's Name:
Title / Position:
_____________________________________________________________
Signature and Seal / Date
Banking Coordinates of Buyer's Top 25 World Bank
L/C Issuing Bank
Bank Name:
Branch:
Bank's Full Address:
Telephone:
Fax:
Bank Officer's Name:
Title / Position:
SWIFT code
ABA / Routing Number:
Account Name:
Account Number:
Only authorized Buyers and Mandates with signature and Power-of-Attorney are authorized to issue LOI / BCL and sign all necessary documents including Contract + opening of L/C in Seller's Favor.
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