Make a Sales and Purchases agreement contract (Follow the sample ) and make a detailed list of 3rd party service providers based on the Letter of interest attached.
Mastering international Trade
23W_MKT1214_300
Group Project
Deborah Amisa
Kevin Essis
Abubakari Zacharia
Hashim
Chimezie Ugochukwu
Company logo
Letter of Intent (LOI)
Date: 13/03/2023
Ref. No:
To: To whom it may concern
Through:
I, Ugochukwu Chimezie, undersigned, as Managing Director of 5 STAR TEA, confirm with full legal and corporate responsibility and under penalty of perjury that we are ready, willing, and able to enter into a contract for the purchase of the following commodity as specified below. That funding is available, including any import/export permits needed to fulfill the purchase of the item as specified below. Also, at this moment, we introduce our exclusive purchase representative as set below for this purchase, by which any negotiations by the suppliers must be handled and finalized;
Commodity: Cocoa Origin: Kenya Specifications: Forastero cocoa Packaging: Delivery in a hygienically packed hessian sack, each weighing 64kG and opening stitched with thread. Total Quantity: 24 forty feet containers Quantity per month: 2 forty feet container
Target Price: Destination Port: Pakistan Terms of delivery: FCA Payment:
Our Company Information:
1. Company Name: 5 Star Tea
2. Company Origin: Pakistan
3. Company Registration Number in the country of origin: P04113321
4. Company Address: LT 262 sector 8 Surjani Industrial Area, Karachi Pakistan
Our Supplier/Exporter Representative for Above Product/Commodity:
1. Company Name: Halisi Naturals Brands
2. Country of Origin:) Kenya 3. Company Registration Number in the Country of Origin: Ou41112
5. Company Address: 117b Games villages Nairobi, Kenya.
Company Telephone: +23462430447
Telephone Fax: 04622934 Procedures: 1. Buyer submits LOI allowing soft probe or LOI & BCL. 2. Seller issues Full Corporate Offer (FCO). 3. Buyer returns signed and stamped FCO. 4. Seller issues Contract with full banking. 5. Buyer and Seller sign and exchange contracts. 6. Seller provides Proof of Product. 7. Buyer's Bank opens a Letter of Credit. 8. Shipment commences as per contract. We understand that any offer and contracts are subject to successful Seller verification of funds availability. Accordingly, we now give our written permission for the Seller to conduct a soft probe of our account, and our Bank has been informed of this effect.
Signature
Ugochukwu Chimezie
Managing Director
5 Star Tea
,
TEMPLATE & DRAFT – SALES AND PURCHASE CONTRACT
Contract No:
THIS AGREEMENT MADE AND ENTERED INTO ON
________________ 20
VALID FOR 5 (FIVE) DAYS
By and between:
Herein after called the “seller” with
Through:
And
.
Reg no.: _____________________
Herein after called the “buyer” and
Commento [cg1]: Date of the signature
Commento [cg2]: Terms of duration
Commento [cg3]: Parties
Whereas: The seller and buyer, each with full corporate authority, certifies, represents and warrants that each can fulfill the requirements of this agreement and respectively provide the products and the funds referred to herein, in time and under the terms agreed to hereafter;
and
Whereas: The buyer hereby agrees and makes an irrevocable firm contract to purchase _________ MT (________________________ metric tons ) ____ of cement ____ N or R cost, freight and insurance (CIF) incoterms ___20,
and
Whereas: The seller and the buyer both agree to finalize this contract under the terms and conditions; and the product offered for sale is subject only to the terms and conditions contained in this contract and strictly confidential between the buyer and the seller and it is therefore agreed as follows:
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Draft-2009-EBT |
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Commento [cg4]: incorterms
Commento [cg5]: premises
1. PRODUCT
___________SHALL CONFORM TO INTERNATIONAL STANDARD ACCORDING TO, BRITISH STANDARDS _____, OR UNITED STATES STANDARDS ______ or RUSSIAN CERTIFICATION ____ OR EUROPEAN STANDARD _____2000
SPECIFICATIONS:
Commento [cg6]: conformity
2. ORIGIN
SELLERS OPTION – Excluding China
3. DESTINATION / PRODUCT DISCHARGE:
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________________________ (non USA |
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3.1 |
Destination shall be CIF |
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sanctioned port) (see article 26 terms and definitions) subject to |
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sellers receipt of all appropriate permits, permissions and licenses. |
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3.2 |
The basis of delivery for all other shipments shall be minimum |
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twelve thousand five hundred (12,500) metric ton shipments . |
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3.3 |
Delivery shall begin thirty to forty (30 -40) days after receipt and |
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confirmation of an operative financial instrument acceptable to the |
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seller, and completed within the stated time. |
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3.4 |
Minimum discharge rate of fifteen hundred (1,500) metric tons per |
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weather working day (WWD) subject to discharge port offloads |
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capabilities. |
Commento [cg7]: incoterms
4. PRODUCT DELIVERY
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The date (s) |
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4.1 |
of bill of lading (CIF) shall be considered the date (s) |
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of delivery. |
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4.2 |
The first |
delivery shall begin thirty to forty (30 – 40) days after |
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receipt and confirmation of a letter of credit acceptable to the seller. |
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4.3 |
The seller shall have the right to deliver earlier than agreed in this |
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contract giving notice to all designated parties as required herein, |
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with the approval of the buyer. |
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4.4 |
The product shall be shipped to the relevant provisions of this |
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contract with the shipment to be forwarded to destination port/s in |
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minimum shipments of twelve thousand five hundred (12,500) |
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metric tons per lift (+/-5%) |
Commento [cg8]: risk passage:
incoterms
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Draft-2009-EBT |
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4.5 Total shipments shall be according to shipping schedule. (See "Appendix 2") minimum is subject to slight and reasonable variations in schedules due to the customary and usual exigencies. Consecutive shipments shall be shipped by delivering and receiving schedule of buyer, sent to the seller after the first shipment has left the port as indicated by the SGS certificate. Incoterms 20 / CIF (see article 26 terms and definitions)
4.6 The buyer and the seller agree that partial shipments are allowed and transshipment not allowed.
5. CONTRACTED QUANTITY
The total quantity of the contract shall be determined by the certifications of weight issued by the inspection authority and by the bill of lading of the shipment that was in effect delivered to the buyer.
6. PRODUCT WEIGHT AND QUALITY
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6.1 |
The seller guarantees that each shipment of cement 42.5 shall be |
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provided with an inspection certificate of weight and quality at time |
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of loading and such certificate shall be provided by Société |
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_____________ or similar recognized authority at seller’s expense, |
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and shall be deemed to be final. |
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6.2 |
The seller shall instruct said authority to carry out the inspection in |
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strict accordance with the international chamber of commerce |
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(I.C.C.) rules. |
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6.3 |
The buyer shall, if desired, and at his own expense provide |
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additional inspection at port of loading to confirm loading. |
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6.4 |
If discrepancies should at any time and in particular case result in |
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relation to the inspection certificate (s) issued at the port of loading |
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and destination, it is hereby agreed that arbitration shall be |
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employed to determine the appropriate judgment. |
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6.5 |
Both parties agree to be bound by the arbitrator’s decision for or |
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against either buyer or seller. |
7. PACKING
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7.1 |
The product will be packed in net ___ kg (_____ kilograms) new |
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polypropylene bags with polyethylene lining. |
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The bags have a combined tare of ____ gm (____ grams) and are |
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sufficient to ensure the safe arrival of product to destination and |
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packed in 1MT, 1.5MT or 2MT wet proof sling-bags/big-bags |
Commento [cg9]: packaging |
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8. |
QUANTITY |
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8.1 |
__________ METRIC TONS (+/-5%) CIF FOR CONTRACT |
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8.2 |
25,000 METRIC TONS (+/-5%) CIF PER MONTH |
Commento [cg10]: |
9. PRICE PER METRIC TON
___________ UNITED STATES DOLLARS $_____ CIF ASWP (NON
USA SANCTIONEDPORT)
10. CONTRACT AMOUNT
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UNITED STATES DOLLARS $__________________ .00 (+/- 5%) |
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_________ MILLION ______ HUNDRED THOUSAND US DOLLARS |
Commento [cg11]: |
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11. |
PAYMENT TERMS |
Commento [cg12]: |
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