Bitumen 60/70

We are pleased to offer you bitumen 6070
quantity: one (1m) million tons per month
contract period: twelve (12) months
delivery terms: fob, dammam saudi arabia
origin: saudi arabia
financial security: bank guarantee (bg) via swift mt-760 covering the value equivalent to
one and half (1.5) months shipments value with a maturity of 1 year 45 days
shipment payment: mt-103 tt equivalent to the volume of the commodity shipped.
performance bond: value at 2% of bank guarantee (bg) amount.
shipping: within sixty (60) working days after the verification, clearance & acceptance of
the bg & aval and as per the agreed on delivery schedule
procedures:
1. End-buyer sends loi to end seller.
2. Seller sends fco and specifications.
3. End-buyer confirms the price and specifications and issue pof.
4. Seller issues a draft contract and sends to end-buyer.
5. End-buyer makes his amendments signs and sends back to seller.
6. If seller agrees with the amendments of the end-buyer, seller makes hard copies of
the contract.
7. Seller and end-buyer lodge the contract to their respective banks and open lc.
8. Shipment commences as per contract agreements between buyer & seller.