Iron Ore

Sales Conditions

Commodity	Iron Ore
Quality	High Grade Quality
Specifications	All Specifications And Certificate Of Quality And Quantity Available.
Quantity	50.000 MT/ Month x 12 Months. Total Contract 60 0.000 M.T. (One Year)
Schedule of Delivery	To Be Determined Seller And Buyer In The Contract.
Period	12 Months With Rolls And Extensions.
Terms	FOB Castilla Port, Hoduras (Central America).
Price	US$  XX Per Metric Ton. (Consult Price)
Payment	By L/C At  Sight Value In One Month, With Maturity For The Entire Contract.
Inspection	Quality And Quantity By SGS Or Equivalent At Seller’s Cost At Port Loading.
Performance Bond	L/C For  2% The Value Of One Month shipments, With Maturity For The Entire Contract.
Origin	Honduras Republic (Central America)

Procedures:

1. Buyer issues LOI or ICPO with full bank details and company profile to: B.G.C. Natural Products

2. Within 3 banking days, Seller issues Draft Contract with full banking details.

3. Buyer returns signed Draft Contract within 3 banking days and Seller returns signed and sealed within 3 banking days.

4. Buyer and Seller deposited the copy of the contract in the respective banks.

5. Within 7 banking days, Buyer's bank announced it will open the L/C value of 50,000 MT, valid as security payment for the entire contract, against Seller's bank commitment to open the PB value in the 2% of one month shipment up to  terminate the contract.

6. Within 10 banking days the Buyer´s bank will issue the L/C and sends to the Seller´s bank.

7. Within 10 banking days the Seller´s bank will issue the  PB2% (L/C) and sends to the Buyer´s bank. 

8. Within xxxxxxx days begin deliveries as agreed in the contract signed between Buyer and Seller.

Note: If the Buyer wants to visit the mine, the Seller will send an invitation after the completion point nº 5 of the procedures.