This Iron Ore Term Sheet, prepared by [Your Company Name], serves as a comprehensive outline of the key terms and conditions essential for facilitating a potential transaction involving the buying or selling of iron ore. This document acts as a preliminary agreement between the parties involved, providing clarity on fundamental aspects such as price, quantity, quality specifications, delivery terms, payment terms, and other relevant provisions crucial for a successful transaction.
Seller: [Your Company Name]
Contact Person: [Your Name]
Email: [Your Email]
Phone: [Your Number]
Buyer: [Buyer Company Name]
Contact Person: [Buyer Contact Person Name]
Email: [Buyer Contact Person Email]
Phone: [Buyer Contact Person Phone Number]
Type of Iron Ore: Hematite
Quality Specifications:
Purity Level: 65%
Size Fraction: 10-40mm
Moisture Content: 5%
Other Specifications: None
Total Quantity: 50,000 Metric Tons
Price per Metric Ton: $80
Total Contract Value: $4,000,000
Delivery Location: Port of Origin
Delivery Schedule: Bi-monthly shipments over 12 months
Transportation Mode: Ocean Freight
Responsibility for Shipping Costs: Buyer bears shipping costs
Payment Method: Letter of Credit (LC)
Payment Schedule: 30% upon signing, 30% upon delivery, 40% within 30 days of delivery
Currency: USD (United States Dollar)
Inspection Procedure: Third-party inspection at the loading port
Acceptance Criteria: Iron ore must meet agreed quality standards
Force Majeure: [Force Majeure Clause Details]
Governing Law: [Governing Law Details]
Confidentiality: [Confidentiality Clause Details]
Amendment and Termination: [Amendment and Termination Clause Details]
This Iron Ore Term Sheet is subject to review and acceptance by both parties mentioned above. Signatures below indicate acknowledgment and agreement to the terms outlined herein:
[Your Name]
[Your Company Name]
[Buyer's Name]
[Buyer's Company Name]
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