Pls find blw procedures and fully specs.of copper cathodes products origin by TANZANIA for the price of London Metal Exchange “Cash Buyer Price” minus fourteen per cent (<14%) per MT CIF as specified
Buyer accepts SCO, completes ICPO and sends ICPO to Seller with executed acceptance of SCO.
Upon acceptance of Buyer’s ICPO, Seller issues draft SPA to Buyer.
Buyer emends and executes draft SPA and returns to Seller.
Seller accepts or emends draft SPA and returns to Buyer.
Parties lodge final executed SPA with their respective bank officers.
Buyer issues Irrevocable MT700 DLC (See Annex 3 for draft Text Verbiage) for the value of the current tranche being shipped to Buyer. MT700 DLC will act as collateral in the event that the Exit Buyer or his designated paymaster fails to keep their payment obligations as defined by this Sales and Purchase Agreement.
Seller sends letter of invitation to Buyer to see Copper Cathodes at refinery or port of loading.
After inspection by Alex Stewart International, OCC or CEEC or any other internationally recognized equivalent inspection agency in country of origin at loading port, Seller delivers product to destination port at his expense.
Seller sends all shipping documents and transfers title of product to Buyer, which is necessary for clearance of product at destination port.
Buyer completes product inspection within 5 (five) days of product’s arrival.
Buyer submits discharging port inspection report to Buyer’s bank and sends copy to Seller.
Buyer’s bank sends payment via T/T or MT 103 within five days of final inspection by SGS, ASI, AHK or an equivalent at destination port.
Rejection below 99.97% Cu purity,
Max impurities PPM
ELEMENTS, UNIT VALUE ELEMENTS VALUE
Copper (Cu), % 99.99 Rej below 99.97 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
Iron (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
Dimensions: 914 mm x 914 mm x 12 mm (LME Standards)
Weight of each sheet: 125 Kilograms (Approximately ± 2%)
Net weight of each pallet: 2.000 Kilograms (Approximately ±2%)
Net weight per container: 20.0 Metric Tons (Approximately ± 2%)
Gross weight per container: 22.2 Metric Tons (Approximately ± 2%)
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.