Indonesia Steam Coal
GAR 5000/NAR 4800 / GAR 5300/NAR 5000 / GAR 5500/NAR 5200 /
GAR 5800/NAR 5500 / GAR 6000/NAR 5800 / GAR 6300/NAR 6000
2. Terms : FOB and CFR
3. STANDARD BUYER AND SELLER PROCEDURES
(1) Buyer sends Letter of Intent LOI;
(2) Seller issued FCO in favor of the buyer;
(3) Buyer returns FCO with acceptance page filled, signed, endorsed and ICPO with soft probe permission;
(4) Seller/Buyer would release draft contract; But better from Buyer including Laycan Schedule
(5) Contract negotiation begin over emails between End Buyer/Buyer and Seller;
(6) Final draft contract sign electronically by both end buyer/buyer and seller;
(7) Final contract signing would be schedule in Indonesia-Jakarta where all mine
(8) Mine site visit would be arrange within 1-2 days after the final contract is signed and sealed if requested by the end buyer;
(9) Within seven (7) banking days seller would provide 2% Non operative Performance Bond.
(10) Within seven (7) banking days the buyers bank sends the operative, irrevocable, non-transferable Documentary Letter of Credit which would automatically activate the Performance Bond.)
(11) Delivery and shipment commence as per schedule mutually agreed in the contract.