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Last Updated on Saturday, 30 July 2011 09:36 Saturday, 30 July 2011 09:21

Terms and Conditions.
Article 1, Commodity : Used Rails R50-R65
Article 2, Origin : Seller’s Option (Ghana)
Article 3, Quantity : Annual Contract or SPOT Deals – Buyer to Specify
                    - Min Contract: 12,500MT/Mth X12M
                    - Min SPOT: 20,000MT
Article 4, Packing : Bulk (in 3 tons bundle) as per Specifications in length of 6 meter long .
Article, 5 Port of loading : Tema (Ghana)
Article 6, Destination PORT : CIF - ASWP
Article 7, Price : USD $371 / CIF, Non Escalating until completion of 12 months as per shipment schedule in the Contract.
Article 8, Payment:

BY IRREVOCABLE, TRANSFERABLE, REVOLVING DOCUMENTARY LETTER OF CREDIT OPENED BY THE BUYER’S BANK ACCEPTABLE TO THE SELLER’S BANK (RDLC FORMAT BY BUYER TO BE PROVIDED) IN FAVOUR OF THE SELLER’S NAME AS IN THE CONTRACT, TO THEIR ACCOUNT IN AL- KHALEEJI COMMERCIAL BANK, BAHRAIN. THE PAYMENT WILL BE MADE FOR EACH SHIPMENT AS DEFINED IN THE RDLC, PAYABLE AT THE BANK COUNTER 100% AT THE SIGHT ON PRESENTABLE OF SHIPPING DOCUMENTS AS DEFINED IN THE CONTRACT.
Article 9, Performance Bond: Performance Bond (PB) 2% for the Contract only , for spot we don’t issue a PB. POP & PB are provided Bank to Bank after receiving the Non-Operative LC from Buyers bank initially.
The Seller’s Bank shall issue 2% Performance Bond of the value of each shipment on Buyer’s Bank which will trigger the Non operative RDLC.
Buyer shall pay the Telegraphic Transfer the value of the quantity shipped as per the shipping documents presented by the Seller’s Bank.
Article 10, Inspection : Inspection for Quantity and Quality from Surveyor Company SGS , at port of Loading.
Article 11, Terms of delivery AND SHIPMENT: First shipment to begin within 35 but not later than 55 days of receipt of L/C.    
Article 12, CARGO Insurance Policy: An Insurance policy which covers 110% of the cargo will be provided by the Seller at the Seller's cost. Covering the Marine Transportation All Risks (I.C.C.A) and War Risks showing claim payable in the currency of invoice and in the country of the destination port.
Article 13, Documents of Payment:
A, Certificate of Quantity and Quality issued by Seller's Surveyor SGS
Commodity as “Used Rail” in two (2) original and two (2) copies
B, Certificate of Charter Party;
C, Certificate of Insurance Policy;
D, Certificate of Chemical Analysis issued by SGS in two (2) original and two (2) copies;
E, Certificate of Non Radiation issued by SGS or equivalent in two (2)
original and two (2) copies;
F, Commercial Invoice 1 Original;
G, Commercial Invoice 3 Copies;
H, Original 3/3 Bill of Lading marking “freight prepaid”;
I, 4 Copies n/n B/L;
J, Packing List with full details of weight, each 3 tons bundle and length as per SGS Certificate.
Article 14, Size, Weight & Length: 6 mt. length.
Article 15, Chemical: The technical Description & Chemical Composition,
as per below, will also be included as in the Contract which shall be final
on signatories of respective Buyer and Seller.
Used Rails R50 – R65 (International Standards) Only atmospheric rust.
No heavy rust.
Mn:0,60 1,05;
C:0,05 0,82;
Si:0,18 – 0,12;
S:0,04 Max;
P:0,035Max;
As:0,01% Max of Mass Share; and
Cr: Residual
Width: 5, 5 inches;
No fishplates or steel pieces or bolts are attached to the used Rails.
All Rails are clean and straight
Chemical Composition: Commodity:
USED RAIL SPECIFICATION: R50-R65 – ISRI CODES
The chemical composition is the standard for R-50 R-65 Tee rails original weigh 50 pounds Per yard or heavier, 6 meters long and over.
Material to be suitable for re rolling into bars and shapes.
Free from bent and twisted rails, frog, switch and guard rails, rails with split heads and broken flanges. Continuous welded rail may be included provided no weld is over9 inches from end of the piece of rail. Free from Fluff, Non ferrous inclusions, excessive rust and other impurities. Free from war and explosives, shells, cartridges, other arms and ammunitions used or otherwise and any closed containers. Free from any radioactive materials, any harmful chemicals, substances, and coatings any organic waste any other harmful substances.
Dirt, dust, rust fluff and other impurities not allowed over 5%. The rails are to be neatly bundled and secured with iron wire or straps, provided with Adequate lifting hooks. Individual bundles not to exceed 5 MTW. Free from bent and twisted rails, frog, switches, and guard rails, or rails with split heads and broken flanges.Continuous welded rail may be included provided no weld is over 9 inches from the end of the piece of rail. Rail, Steel No. 1.Standard section tee rails, original weight 50 pounds per yard or heavier, 10 feet long and over.Suitable for re-rolling into bars and shapes.Rail, Steel No. 2 Cropped Rail Ends. Standard section, original weight of 50 pounds per yard and over, 18 inches long and under (28B) (28C) Rail, Steel No. 2 Cropped Rail Ends.Standard section, original weight 50 pounds per yard and over, 3feet long and under. Rail, Steel No. 3.Standard section tee, girder, and/or guard rails, to be free from frog and switch rails not cut apart, and contain no manganese, cast, welds, or attachments of any kind except angle bars.
GRADING The scrap consists of: • R-50 (51.67 kg/m-GOST-7173-75)
• R65 (64.72 kg/m –GOST-8165-75)
• Used Rail (ISRI 200-202)
Chemical Specifications:
Mn: 0.60 1.05;
C: 0.54 0.82;
Si: 0.18 - 0.12;
S: 0.04Max;
P: 0.035Max;
Cr: Residual.
As: 0.01% Max of Mass Share;
Specification: Used Rail: R50 – R65
Article 16, Procedures
1. Seller Sends Official SCO.
2. Buyer if Agreed must sign and return to Seller, with ICPO with Banking Information.
3. Seller issues Draft Contract. If agreed by the Buyer, Seller issues and sends final Contract via Email sealed and signed;
4. Within 7/10 Banking days from the signing date, buyer provides to the Seller’s Bank the Availability of the Payment by issued a Non Operative Irrevocable, Auto-Revolving, for two months, Transferable, Letter of Credit. (Article 8). One site/port visit is allowed as per schedule of shipment in the Contract however with prior written consent and approval of the Seller.
5. The Buyer before issuing the final copy of the Non Operative Letter
of Credit Sends the Application form of the operative duly filled in via Email to the Seller for his Check.
6. Within 5 days the Bank of Seller provides to the Buyer’s Bank the Performance Bond of 2% (P/B) and the Proof of Product (POP);
7. When the Buyer’s Bank receives the acceptable POP and the PB Automatically the Letter of Credit is Operative. (Article 8). For SPOT deals we don’t issue Performance Bond.
8. Delivery and Shipment commence as per Contractual Schedule. Article 18, Overprice: All prices are Net.
Article19. PENALTY CLAUSE: Either party not performing to their contractual agreement at any point starting or during shipment from opening of the RDLC and 2% Performance Bond, the former being activated by latter shall be bound by this clause to compensate 10% of the first shipment value which shall be incorporated in the IRDLC.
FORCE MAJEURE. NEITHER PARTY WILL BE HELD LIABLE ON FORCE MAJEURE.UNDER THE FORCE MAJEURE CONDITIONS OCCURRED BY CIRCUMSTANCES BEYOND THE CONTROL OF EITHER PARTY DULY JUSTIFIED BY DOCUMENTARY EVIDENCE OR RESULTING FROM ACTS OF GOD, COUNTRY STRIKES, CIVIL COMMOTION, NATURAL DISASTER, WARS.
Please note
Proof of Past Performance:
The Seller Does Not Present historical data ahead of schedule in Contract, such as invoices forshipments in the past (BL's), invoices from shippers, reports  from SGS, laboratory, PBG, POP's, Contracts, etc.., Or any example document that can break the rules of the ICC and be plagiarized or falsified by others.
Please send your official irrevocable letter of intent to This e-mail address is being protected from spambots. You need JavaScript enabled to view it