LOI: Letter of Intend
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........Please copy and paste the below text in the letterhead of your
company.......
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To:____Seller company_________
We, ___Buyer company____, confirm with full legal and corporate responsibility under
penalty of perjury, that we are ready, willing and able to buy
________ MT of
_______under the following terms and conditions:
1. PRODUCT:
2. ORIGIN:
3. SPECIFICATIONS:
4. PACKING:
5. INSPECTION: (By S.G.S. at loading port, on Seller's/buyer’s account. - [only
if mentioned in the offer])
6. QUANTITY:
7. DELIVERY: Port of ______ - first shipment shall be within____days after the
receipt of L/C by your bank.
8. MODE: FOB/C&F/...
9. PRICE: USD ____ / MT
10.PAYMENT: (Irrevocable, Transferable, Documentary Letter of Credit, opened or
confirmed by a Western European bank or any acceptable to Seller, and payable
100% at sight against presentation of shipping documents, for the entire
contract value of )
11. PERFORMANCE BOND: %2 of contract value of each shipment)
12. DOCUMENTS: (Following documents are requested to be presented for payment on
shipment:
a) Clean on board bill of lading marked "freight prepaid" and blank endorsed.
b) Certificate of weight and quantity issued by S.G.S. or comparable
c) Certificate of origin issued by or endorsed by Chamber of Commerce of the
country of origin.
d) Signed commercial invoice.
e) Master's receipt of all documents except commercial invoice.
f) Weight/packing list).
13. PROCEDURES:
a) Buyer issues LOI
b) Seller issues proforma
c) Buyer signs and returns proforma
d) Seller and buyer sign contract
e) Buyer instructs his bank to KTT to Seller's bank re proof of funds;
f) Seller shall instruct his bank to KTT to Buyer's bank re proof of product and
% PBG to be operable upon receipt of LC;
g) Buyer's bank opens LC;
h) First shipment commences within ____ days.
14.LOI valid time: ____day’s at issue day "Through code number: MBC2002"
15. BANKING COORDINATES: Documentary letter of credit to be opened by:
Name & Address of Bank ________________________
Officer:_____________
Tel No.________ Fax No.________
Telex No________ Swift Code_________
Buyer's Account No___________
Name and address of confirming prime bank
We look forward to receiving Seller's proforma offer.
Yours sincerely
sign and seal
_______________