Sales Contract
The buyer agrees to buy and seller agrees to sell the following goods on the terms and conditions mentioned under.
| CONTRACT NO: SAFAL/IWWDMCC/13/2022 | Dated: 21 Feb 2022 | |||
| SELLER |
Southern Africa Ferro Alloys Ltd. Plot 397A/D, Makeni Area Road, Off Kafue Road, P.O Box 50854, Lusaka, Zambia |
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| Buyer |
INNOVATION WORLWIDE DMCC UNIT NO. 401, FORTUNE EXECUTIVE TOWER, PLOT NO: JLT-PH2-T1A, JUMEIRAH LAKES TOWER, DUBAI, U.A,E. |
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| COMMODITY | SPECIFICATION | QUANTITY | PRICE (US Dollar) | TOTAL AMOUNT |
| Ferro Manganese Slag | MnO -31.50%, SiO2 -26.50%, CaO -12.83%, MgO -7.55%, Fe2O3 -0.42%, Al203 -16.84%, Basicity -0.769% 10-50MM (90% MIN) |
50 MT Bulk in 20, FT Container |
250/MT | US Dollar 12500 |
| TOTAL | US Dollar 12500 | |||
| PACKING | Bulk in 20, FT Container | ORIGIN | Zambia | |
| DELIVERY TERMS | CIF | SHIPMENT | March 2022 | |
| LOADING PORT | Dar Es Salaam Port, Tanzania | DISCHARGE PORT | Rotterdam, Netherlands | |
| TRANSSHIPMENT | Allowed | PARTIAL SHIPMENT | Allowed | |
| PAYMENT TERMS | Rotterdam, Netherlands | |||
| Documents | A. Commercial Invoice – 3 Originals B. Packing List – 3 Originals C. Certificate of Quality & Quantity issued by Alex Stewart-1 Original & 1 copy. D. Original Bill of Lading – 3 original + 3 copies E. Insurance Policy - 1 original and 3 Copies. | |||
| SELLER'S BANK |
Seller's Bank Bank Name: Absa Bank Zambia PLC Account Name: Southern Africa Ferro Alloys Limited Account Number: 1005519 Branch Code: 02-00-01 Branch Name: Kafue House Swift Code: BARCZMLX |
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| BUYER'S BANK | ||||
| INSURANCE | To be effected by seller against all risk for 110% of the contract value | |||
| RISK | All risks shall pass to the Buyer at the time when the Product passes the ship’s rail on board the vessel at time of loading, in accordance with Incoterms 2010 | |||
| INSPECTION | Not Applicable | |||
| ARBITRATION |
All Disputes in connection with this Contract or the execution thereby shall be settled through friendly negotiations between the two parties. If no settlement can be reached, the case under dispute shall be settled at a place of jurisdiction commonly agreed to by both parties. The award rendered by the Arbitrator shall be final and binding on both parties. |
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| FORCE MAJEURE |
In case of Acts of God or any other case beyond the control of the parties, the party claiming it needs to prove it by presenting a confirmation issued by the Chamber of Commerce or equivalent government institution in accordance with the rules set by the International Chamber of Commerce (ICC Publication No-421). |
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Accepted and confirmed by:
The Buyer
INNOVATION WORLWIDE DMCC
Name:
The Seller
_____________
Name: