^{Soft Corporate Offer (valid 7 days after JAN 2ND,2009})Origin: TAIWAN

^{Price:  FOB TAIWAN PORT USD 195.00/MT FOR 100,000MT/MOx 12}  

^{CIF USD 270.00/MT  for 100,000 MT/Month x 12}

$2.00 commission for buyers brokers

Yard visit is available BEFORE OPENING THE L/C HOWEVER AFTER SIGNING CONTRACT

Before buyer open LC, buyer can make soft probe via MT799 (free message) whether seller is ready to issue PB2% and POP upon receiving DLC .

Buyer can open each monthly LC for annual contract at an early stage if RDLC is hard for buyer.

Specification: Length:1.5m

Origin: North TAIWAN 

Delivery Schedule: Seller to specify for completion of total quantity and first shipment from date of confirmed L/C in Sellers account.

Inspection:  SGS by Seller.  Any other independent international inspection company would be used at Buyers expense if desired, but would not to be recognized as part of the payment documents.

TRANSACTION PROCEDURES:

a)      The Buyer shall sign 4(four) originals of the contract and present the same to the Seller for signature.

b)      The Buyers Bank will send the Draft of the buyers payment instrument via electronic mail or facsimile to the Seller for approval.

c)  The buyer has to notify the Seller of its issuance in his favour within 2 (two) working days

     after signing this contract by the buyer.

Payment Procedure:  

1)      Within three (3) working days after receiving the annual contract which is signed and approved by both two parties, The seller must issue a P/B (Performance bond) under SBLC of 2% the monthly L/C drawdown value from the sellers bank to the buyers bank via SWIFT.  The P/B will cover the value of 100,000 MT each month.  The P/B under SBLC must be revolving monthly for the duration of the contract, i.e. twelve (12) months.

2)      Within five (5) working days after receiving first P/B, the buyers bank shall thereafter issue the Letter of Credit (LC) for the shipments of 100,000 MT each month.  The L/C MUST BE Irrevocable Transferable Revolving Letter of Credit (ITRLC) and must be revolving monthly for the duration of the contract, i.e. twelve (12) months.  Payment to be made via Letter of Credit shall be based on the Commercial Invoice (Bill of Lading) established by the actual net weight, not gross weight inspected and accepted by SGS at the loading port specified to the shipper.

3) Irrevocable Transferable Revolving Letter Of Credit, validity for twelve (12) months.Collection of payments for shipments by The seller shall proceed by the presentation of Documents specified in the operative Letter of Credit, payable 100% at sight at loading port, (below called: buyers payment instrument) against shipping documents.

The Shipment will commence no later than 30 to 45 (thirty to forty-five) days from the date of activation of the buyers payment instrument

7. PORT OF DISCHARGE (DESTINATION PORT): ASWP

8. DISCHARGING RATE: 100,000 MT per month

9. LOADING PORT: Taiwan

10. LOADING AND DISCHARGING TERMS:

a) Terms and conditions of loading shall be compliant with the rules and norms of the port of loading and discharging and shall in be in accordance with INCOTERMS 2000.

11. GUARANTEE OF PAYMENT BY BUYER

a) Payment for this consignment in favour of the Seller in the contracted amount of: US$ 324,000,000, shall be effected by the buyers payment instrument after the presentation of the required listed documents through Sellers bank. This must be as per ITRLC opened in favour of The Seller for the value of 100,000 MT per month for the duration of the contract.

b) The buyers payment instrument, issued in connection with this contract, shall be an assignable document bearing the Transaction code and Contract Number and shall be issued and delivered by the Buyers bank directly to the Sellers Bank and in favour of the Seller.

In the event that the Buyer fails to issue the buyers payment instrument with the terms fully compliant with the terms and conditions specified herein, then payment for the full shipment value to date shall be made by demand upon the buyer and its Bankers and shall be pursued by Seller against the Buyer without protest as a contract breach. 

c) The final text of the buyers payment instrument to be provided by the Buyers bank shall be subject to acceptance by the Sellers Bank and written approval by the Seller or its authorized agent and by way of confirmation of the Buyers compliance with the present contract.

12. VALIDATION of buyers payment instrument: 

The operative buyers payment instrument issued in favour of the Seller shall maintain its validation at all times against presentation of the required and listed documents for payment/payments.

13. PAYMENT TERMS AND CONDITIONS:

Payments due under this contract shall be effected by means of the operative buyers payment instrument issued by Buyer in favour of Seller at sight.Collection of payments for shipments by the Seller shall proceed by the presentation of documents specified in this contract within the validity of buyers payment instrument.The buyers payment instrument to be subject to Uniform Customs and Practice for Documentary Credits, 1993 revision, ICC publication no 500.

The seller shall send a swift confirmation bank to bank prior to buyer establishing buyers payment instrument stating confirmation of product availability, price and delivery.

14. BANK CHARGES: 

a) All bank charges relating to the operative buyers payment instrument shall be borne by the Buyers account.

b) Bank charges for any amendments of the buyers payment instrument or the sellers performance bond shall be borne by the Party at fault, being the party whose acts or omissions have necessitated the changes.

15. SHIPMENT:

a)  The first shipment of no less than 100,000 MT (one hundred thousand Metric Tons), (+/-5%), shall be delivered within thirty to forty-five (30 - 45) days from the receipt of a fully valid operative buyers payment instrument by Sellers Bank.

16. INSPECTION:

 Inspection shall be done at port of loading by Société Générale de Surveillance (SGS). The Seller will pay inspection fee for SGS only; Fees for the other inspection (CCIC) report will be paid by Buyer, at the loading port. Weight inspections respectively done by SGS at the loading port shall be final and binding upon both Parties on any issues relating to weights and measures of the quantity or quality of goods delivered.