2. Seller issues Term Sheet, Buyer has to sign & return within three (03) days, otherwise it will expire. 3. Within three (03) days of signing the Terms Sheet, Buyer has to pay Seller’s Lawyer’s / Legal Fee (directly to Seller’s Lawyer’s Account, Contract will be constructed as per the Terms Sheet). 5. Within five (05) working days of signing the Contract, Buyer’s Bank will send to Seller’s Bank a Bank Guarantee (BG) as per the Contract with maturity 1 year 45 days.
4. Buyer and Seller arrange for top table meeting to sign Sales and Purchase Agreement complete with full banking coordinates. " 6. Buyer issues Documentary Letter of Credit which will include the vessel particulars. 8. Buyer takes delivery in an appropriate Saudi port of shipment.
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