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/001/2023 | Dated: 04 Feb 2023 | |||
| 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 | Mn – 74.5% Min, Si- 2.0% Max, C – 8% Max, Phos-0.30% Max, S – 0.05% Max 0.5- 3 MM(90%Min) |
150 MT Loose in container, If Liner do not allow packing Bulk, then we will have to ship in 1MT big bags |
1010/MT | US Dollar 151500 |
| TOTAL | US Dollar 151500 | |||
| PACKING | Loose in container, If Liner do not allow packing Bulk, then we will have to ship in 1MT big bags | ORIGIN | Zambia | |
| DELIVERY TERMS | CIF | SHIPMENT | Shipped on Board from Load Port in March 2023 subject to vessel space availability | |
| LOADING PORT | Dar Es Salaam Port, Tanzania | DISCHARGE PORT | BALTIMORE- USA | |
| TRANSSHIPMENT | Allowed | PARTIAL SHIPMENT | Allowed | |
| PAYMENT TERMS | 30% Advance through TT Prior loading of cargo at our factory balance 70% against shipping documents. | |||
| Documents | 1) Commercial Invoice-Triplicate, 2) Packing List with statement of origin declaration and approved rex code declaration - Triplicate, 3) Full set of 3 Originals and 3 non-negotiable copies, Signed, "Shipped on Board " Ocean Bills of Lading, Shipper, Consignee & Notify as per buyer's request. To be affected by the seller against all risks for 113% of the contract value. 4)Certificate of Certificate of Quality, Quantity, size and bag sealing issued by Mitra SK or Alex Stewart 5) Plant test from SAFAL along with statement of Origin. 6) Insurance Certificate/Policy for 113% of the contract Value covering all Risks from Warehouse to Warehouse as institute cargo clause A. 7) Certificate of Origin from ZRA or Chamber of Commerce/Rex PL of origin with approved Rex code & Export declaration for confirming preferential duty treatment, as applicable for destination. 8) Material safety data sheet confirming this is non-hazardous cargo. 9) Vessel Seaworthy Certificate from shipping line subject to approval / discretion of shipping line | |||
| 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 affected by the seller against all risks for 113% 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 2020 | |||
| INSPECTION | Quality, Size, Quantity and sealing inspection by Alex Stewart International corporation, Zambia prior loading of trucks at Zambia factory at Sellers cost. | |||
| 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: