Sugar Icumsa45

sugar icumsa 45, brazil, slc. ( stand by l/c) transferable 100% at sight.25000 mt 16550000 mt 16275000 mt 160100000mt 140usd/mt fco within 24 hr. we have received your loi for the purchase of xxxxxxxxxx mt of white sugar icumsa 45 in 50 kg pp white bags. we are offering the lowest price available in the international market on terms and conditions hereunder:1. within 7 banking days from the signing of the sale and purchase agreement, buyer's bank shall send a confirmation to seller that they have instructions to open a slc (or remit funds) on behalf of the buyer.2. within 3 banking days thereafter, seller's attorney in the usa shallarrange for a bank account to be opened in either bank of america, or such other prime bank in the us as the seller's attorney shall designate, in buyer's name.3. buyer's bank shall send the slc (or remit the funds) to theaforesaid bank account within 3 banking days thereafter.4. buyer shall be invited to call at seller's attorney's office in the usato sign documents to participate in a financial program whereby buyer shall be entitled to one-half percent per week on the value of the slc/monies in the bank account. seller hereby warrants covenants and represents that under no circumstances shall the slc/monies in the account be used, collateralized or encumbered for the said program, and that the slc/monies in the account shall remain under the sole control of the buyer at all times, save for the circumstances described in paragraph 6 below.5. upon completion of each shipment, the seller shall send via courierto the buyer one set of the shipping documents, and within 3 days of receipt of the same, the buyer shall review the documents and confirm to seller in writing that they are in order.6. before commencement of the final shipment, seller shall send a notification by facsimile transmission to the buyer providing information on the vessel (as required under the contract). the buyer shall forthwith send a letter to the bank at which the slc/monies are held, advising the bank that the buyer wishes to add a signatory to the account, who shall be a person nominated by the seller, and that the seller's nominee may operate the account singly.7. in the event that the seller fails to undertake any shipment withinthe prescribed period for that shipment, the buyer may withdraw theslc/monies in the bank account forthwith.the following is the specimen slc and the terms and financial procedures contained in a specimen fco:standby letter of creditissued by: _____________________________letter of credit no. _________________________date of issue: _______________date of maturity: ___________ (must be for 12 months)date of expiration: ___________ (min. 15 days after maturity date)to: ___________________(beneficiary and his address)we (________name of bank____) do hereby open our unconditional irrevocable and transferable letter of credit in favour of (___beneficiary___) in the sum of united states dollars ____________(usdxxx)due one year from date of issue. payment is available on maturity upon first written demand by beneficiary or the bearer or holder hereof via tested telex. demand hereunder must be marked:"drawn under letter of credit number. _________dated _________"we engage with you that the draft drawn under and in compliance with the terms of this letter of credit shall be duly honored upon presentation to us by the beneficiary or the bearer or holder hereof.this letter of credit is subject to the "uniform customs and practice for documentary credits" (1993 edition of publication 500), international chamber of commerce, paris, france.this letter of credit expires on __________.(name of issuing bank)authorized bank officer authorized bank officername: name:title: title:(official bank seal)

sugar icumsa 45, brazil, slc. ( stand by l/c) transferable 100% at sight.

25000 mt 165
50000 mt