IRON ORE TERM SHEET

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I. Introduction

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.

II. Parties Involved

1. Seller: [Your Company Name]

   • Contact Person: [Your Name]

   • Email: [Your Email]

   • Phone: [Your Number]
     

2. Buyer: [Buyer Company Name]

   • Contact Person: [Buyer Contact Person Name]

   • Email: [Buyer Contact Person Email]

   • Phone: [Buyer Contact Person Phone Number]
     

III. Transaction Details

A. Iron Ore Specifications

• Type of Iron Ore: Hematite

• Quality Specifications:

  • Purity Level: 65%

  • Size Fraction: 10-40mm

  • Moisture Content: 5%

  • Other Specifications: None
    

B. Quantity and Price

• Total Quantity: 50,000 Metric Tons

• Price per Metric Ton: $80

• Total Contract Value: $4,000,000
  

C. Delivery Terms

• 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
  

D. Payment Terms

• 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)
  

E. Inspection and Acceptance

• Inspection Procedure: Third-party inspection at the loading port

• Acceptance Criteria: Iron ore must meet agreed quality standards
  

IV. Miscellaneous Provisions

• Force Majeure: [Force Majeure Clause Details]

• Governing Law: [Governing Law Details]

• Confidentiality: [Confidentiality Clause Details]

• Amendment and Termination: [Amendment and Termination Clause Details]
  

V. Signatures

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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