1.Letter of Intent

 

Must be submitted on buyer's Letterhead
Letter of Intent - (LOI)

 

Date:

 

To:

 

McBird & Lennard Global Trading Company LLC

18123 Merino Drive, Accokeek, MD 20607, USA

 

Dear Sirs,

We................................................................................................................................

Of..................................................................................................................................

hereby declare that we are ready, willing and able under the act of perjury to purchase the following commodity as specified below and certify that we have available full funding for the purchase:

 

NAME OF THE PRODUCT :
SPECIFICATIONS OF THE SUBJECT PRODUCT:

 

Specification No.....................................................Quantity................................................................ Metric Tons.

Destination: Port.....................................................Country:....................................................

Destination Country:.....................................

Terms of Delivery:................................Rate/Size of Shipment...........................................  .Packing:.......................................................

Rate of Discharge at Destination:

Tons per Day:...................................................................

Terms of Payment: DLC, RLC, FFDLC, FFRLC, SLC, BG, Unconditional SLC/BG,

Performance Bond from the seller (2%)

Full name of the Bank ............................................................................................
Full Address of the Bank ........................................................................................
Bank Telephone No................................................................................................
Bank Account No...................................................................................................
Bank SWIFT/Sort Code No.....................................................................................

We give you our permission to seek usual Bank reference.

Full name of the Company:.....................................................................................

Full name of signatory.............................................................................................

Position of signatory (This must be CEO of the Company)

........................................................

Yours truly

Dated................................................

Signed..............................................

Signed for and on behalf of

Company rubber stamp

3.Bank Comfort Letter - To be completed on buyer's bank letterhead

Date: _________ Bank name:
Address:
Telephone:
Fax:
SWIFT:
Telex:
IBAN:
Account Number:
Account name:
Addressed to Seller or Seller’s Mandate: We,(TOP 50 - BIG BANK, OR BRANCH) and the undersigned Bank Officers, hereby confirm with full responsibility that the amount of US$XXX.XX numerals (written amount in XXXXX UNITED STATES DOLLARS) is reserved in this bank at the request of (BUYER’S COMPANY, COUNTRY) for the finalization of the Contract for the purchase of (QUANTITY) metric tons of (PRODUCT) and the total value of US$(XXX,XXX.XX (AMOUNT SPELLED OUT) United States Dollars.
THESE FUNDS ARE AVAILABLE FOR THE PURCHASE OF THE ABOVE IDENTIFIED PRODUCT AND FOR ISSUING THE RELATIVE FINANCIAL INSTRUMENTS AS follows: IRREVOCABLE TRANSFERABLE AUTO-REVOLVING FOR ONE MONTH’S SHIPMENT VALUE (USDXX,XXX,XXX.XX) DOCUMENTARY LETTER OF CREDIT CONFIRMED 100% AT SIGHT AS PER CONTRACT. IN ISSUING THIS STATEMENT, THE BANK RECOGNIZES THEIR LIABILITY IN ACCORDANCE WITH THE TERMS OF THE CONTRACT IN ISSUING THE FINANCIAL INSTRUMENTS IN FAVOUR OF THE SELLER SHOULD THE CONTRACT PROCEED AND THE BANK IS ALSO READY TO ISSUE THE RELATIVE RWA TO THE SELLER’S BANK AS SPECIFIED IN THE CONTRACT IF THE CONTRACT IS SIGNED AND EXCHANGED BETWEEN OUR CLIENT (BUYER’S COMPANY) AND THE SELLER.
THIS BANK COMFORT LETTER CAN BE VERIFIED AND AUTHENTICATED ON BANK TO BANK BASIS BY SWIFT THROUGH THE NORMAL BANKING PROCEDURES AND PRACTICES.

4. DRAFT IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO)

Date:
From Buyer:
Buyer Reference:
To Seller:

________________________________ (Full Name and Title), authorized signatory of buyer ……………………………………… (Buyer Company name), hereby confirm that we are ready, willing and able to purchase and pay for the following order as detailed below:
COMMODITY: 
QUALITY:
ORIGIN:
QUANTITY:  _____   MT (500,000 MT x 60 months) – rolling over after annual price review
CONTRACT DURATION: (1-5) years
PRICE: USD$ per __Metric Ton (spell out price per MT United States Dollars) CIF (PORT) – base price per MT for ___ - with annual price review
COMMISSION: US$7.00 MT Payable by Seller shared - Sell Side US$3.50 MT (CLOSED) - Buy Side US$3.50 MT (OPEN) shared as per completed NCND/IMFPA
LOADING PORTS:
DELIVERY CIF: CIF Main Port
PACKAGING:
MARKINGS/LABELS: when applicable
SHIPMENT: First shipment within 60 days upon receipt of Buyers Payment Instrument.
PAYMENT METHOD:
PB: In sequence the Seller shall issue his PB (Performance Bond) of 2% of monthly shipment amount in favor of the Buyer, making the Buyer’s non-operative payment operative.
INSPECTION: By Societe Generale Surveillance (SGS) Export Inspection Certificate on quality, quantity and weight at Loading Port at Seller’s cost and CIQ at Destination Port at Buyer’s cost.
INSURANCE:

BUYER’S BANKING COORDINATES
Bank Name:
Bank Address:
Account Name:
IBAN Number:
Swift Code:
Bank Officer’s Name:
Email:
Telephone Number:
Fax Number:
If applicable!
CONFIRMING BANK
Bank Name:
Bank Address:
Account Name:
IBAN Number:
Swift Code:
Bank Officer’s Name:
Email:
Telephone Number:
Fax Number:
If applicable!
This letter is to serve as written authorization from_____________ (Company, Name, and Title), to conduct a “Soft Probe” in order to confirm funding will be available to open a letter of credit for the purchase of ________________ (Product Name).
We understand that any and all offer and/or contracts are subject to successful Seller verification of funds availability. We hereby give our written permission for the Seller to conduct a soft probe of our account and that our Bank has been informed to this effect.

Buyer’s authorized signatory:
Print Name and Title: ______________________________
Signature: __________________________