CONTRACT FOR SALES AND PURCHASE OF INDONESIAN IRON ORES.docx

CONTRACT FOR SALES AND PURCHASE OF INDONESIAN IRON ORES.docx

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CONTRACTFORSALESANDPURCHASEOFINDONESIANIRONORES

CONTRACTFORSALESANDPURCHASEOF

INDONESIANIRONORES

ContractNo:

Date:

Seller:

PT.WHIRLSINDOJAYASUKSES

Address:

Telephone:

Facsimile:

E-mailaddress:

Representedby,asaDirectorofthecompany

Seller’sbank:

NameofBank:

Address:

Swiftcode:

Buyer:

Address:

Telephone:

Facsimile:

E-mailaddress:

Represenedby,asaDirectorofthecompany

Buyer’sbank:

NameofBank:

Address:

Swiftcode:

SelleragreestoselltoBuyerandBuyeragreestobuyfromSellerIronOresunderthefollowingtermsandconditions.

Article1.DEFINITION:

InthisContractthefollowingtermsshall,unless,otherwisecontextrequires,havethefollowingmeanings:

（1）“Metricton”meansonethousand（1,000）kilograms.Forthepurposeofconversion,ametrictonequals0.9842064longtonsandalongtonequals1.016047metrictons.

（2）“Wetmetricton”or“WMT”meansametrictondeterminedonwetbasis.“Drymetricton”or“DMT”meansametrictonofOreondrybasis.“wetbasis”or“Naturalwetbasis”referstoironoreinnaturalwetstate.“Drybasis”referstoironoredriedat105degreescentigrade.

（3）“Dollar（s）”orthesign“$”and“Cent（s）”orthesign“¢”respectivelymeandollarsandcentsinthefreelytransferablelawfulcurrencyoftheUnitedStatesofAmerica.

（4）“Trim”meansseaworthytrim.

Article2.COMMODITY:

IronOreLumps

CountryofOrigin:

Indonesia.

Article3.QUANTITY:

_____-WMT（±10%atBuyer’soptionandorsubjecttoBuyer’svesselavailability）

Packing:

Inbulk.

Article4.LASTSHIPMENTDATE:

Lastshipmentdate:

Article5.LOADINGANDDISCHARGINGPORT:

LoadingPort:

Port,Indonesia

DischargingPort:

Port,China

Article6.GUARANTEEDSPECIFICATIONS:

（1）ChemicalComposition:

（onthedrybasis）

Iron（Fe）%min.

Below%Rejection.

Alumina（Al2O3）%max

Silica（SiO2）%max

Sulphur（S）%max

Phosphorus（P）%max

（2）Moisture:

max

（3）PhysicalComposition:

0-200mm90.00%min.

Article7.PRICE:

USD98.00perdrymetrictonFOBSTVesselatPadangPort,IndonesiaonthebasisofFe58.00%.

Article8.BONUSANDPENALTY:

（1）IfFecontentisbelow58.00%,theBuyerandtheSellershallnegotiateinanamicablewaytoachieveamutuallyagreedpricesettlement,ortheBuyerhastherighttorejectthecargo.

（2）FreeMoisture:

Iffreemoisturelossat105degreescentigradeasfinallydeterminedexceedstheguaranteedmaximumreferredtoinArticle6,oceanfreightattributabletosuchexcesstobereimbursedbySellertoBuyer.CertificateofqualityandcertificateofweightissuedbyCIQatdischargingportshallbefinalformoisturepenaltycalculation.TheBuyershouldgivethefreightratebasedonfreightinvoiceinadvancetoSeller.

（3）Impurties:

IfthechemicalcompositionofIronOresinrespectofAlumina,Silica,Sulphur,andPhosphorusexceedstheguaranteedmaximumassetforthinArticle6.

（1）,apenaltyshallbeappliedasprovidedbelow.

（i）Al2O3:

Attherateof5（five）USCentsperDMTforeach1%inexcessof5.00%.

（ii）SiO2:

Attherateof5（five）USCentsperDMTforeach1%inexcessof7.00%.

（iii）S:

Atrateof5（five）USCentsperDMTforeach0.01%inexcessof0.09%.

（iv）P:

Atrateof5（five）USCentsperDMTforeach0.01%inexcessof0.09%.

Article9.DELIVERY:

DeliveryshallbedeemedcompletedasandwhenIronoreshavebeenloadedonboardthevesselandtrimmed.

Article10.TRANSFEROFTITLEANDRISK:

Alltitle,riskandpropertyinrespectofeachdeliveryshallpasstotheBuyeratthetimeofdischargeoffinefromtheloadingdevicesintothevesselattheportofloading.

Article11.LOSSOFCARGO:

Intheeventofpartiallossofcargo,thebillofladingweightandtheanalysiscarriedoutbyBuyeronthecargodischargedshallbetreatedasfinalandshallformthebasisoffinalinvoicingandpayment.Intheeventoftotallossofcargo,theanalysisandtheweightasdeterminedattheloadingport（s）shallbetreatedasfinalandshallbeusedforfinalinvoicingandpayment.

Article12.LOADINGMETHOD:

BuyershallnominatethevesselswiththefollowingdimensionstomeettheloadingrateassetforthinArticle14-

（1）.

Max.LOA:

xxxm

Max.Draft:

20m

Crane:

25swlMinimum

Crab:

GrabhiredbySellerandhirechargetobeforSeller’saccount

Article13.SHIPPINGSCHEDULE:

（1）Stevedoresagentnotificationof100%cargo（+/-10%）inportandsendthenotificationinwritingtobuyerthenbuyershallnominatedvesselforloading.

（2）BuyershallnotifySellerofthevesselnominationindicatingthenameofvessel,quantitytobeloaded,vessel’sparticularsandETA.SellershallgivecableortelexorFaxconfirmationthereoftoBuyerwithinone

（1）businessday.

（3）Buyershallhavetherightatanytimetosubstituteforthenominatedvesselsimilartothatoriginalnominated.Anysubstitutevesselshallloadinthesamepositionandwithinunchangedcargodeliveryperiodinsequenceofvesselsasthenominatedvessel.Sellershallconfirmthenominationorsubstitutevesselwithinone

（1）businessday,whichwillnotbeunreasonablywithheld.IfSellerfailsconfirmwithinone

（1）businessday,thenominatedorsubstitutevesselshallbeacquiescentlyregardedasacceptance.

（4）BuyershallarrangefortheMastertogiveSellerorSeller’sagentthree（3）noticesoftheexpectedtimeofarrivalofthevesselattheloadingport;itsfirstnoticetobegivenfive（5）dayspriortotheexpectedtimeofarrivalofthevesselalongwiththeapproximatequantityofOrerequiredtobeloadedwithinthetoleranceagreedforthevesselandthestowageplanthesecondandthethirdnoticetobegivenforty-eight（48）hoursandtwenty-four（24）hoursrespectivelypriortotheexpectedtimeofarrival.SellershalladviseBuyerbytelexorfacsimileofdepartureofthevesselstatingthequantityloadedandBillofLadingdatewithintwo

（2）businessdaysaftercompletionofloadingandshallsendtoBuyerthetimesheet.

Article14.LOADINGTERMSANDCONDITION:

（1）LoadingRate

Loadingrateis4,000WMTWWDSHINC

（2）DemurrageandDespatchMoney（ifvesselonceondemurragealwaysondemurrage）:

DemurrageasperC/Pperdayof24hourspro-rate.Halfdispatch.Demurrage/Despatchifanywillbesettledwithinseven（7）daysaftercompletionofLoadingandthepresentationoflaytimesheet/noticeofreadiness/statementoffact.

Sellershallberesponsibleforfullcargoandallnecessaryexportdocumentations&exportlicences/formalities/sufficienttransports/laboursetc.tobefullyreadyon/beforevessel’sarrivalatloadingport.Failingwhich,anyvesseldetentioncausedisforSeller’saccountasperC/P.Detention,ifany,tobesettledbetweenSellerandBuyerwithinseven（7）bankingdaysaftercompletionofloadingwithpresentationofallrelevantdocumentsatloadingport.

Sellerguaranteetocommenceloadingwithintwo

（2）daysuponnortendered,Ifvesselfails,tocommenceloadingaspromisedbySeller,BuyerhasrighttosailvesselawayandholdSeller’sfullyresponsibleforBuyer’sloss.IfSellerwishestokeepvesselwaiting,Sellershouldpaydetentioneverytwo

（2）daysinadvance.

（3）TenderofNoticeofReadiness

Noticeofreadinesstoloadshallbetenderedwithcleanholdshatchopenandreadyinallrespectstoloadatanytimeaftervesselhasarrivedatloadingportwhetherinberthornot.Ifthevesselisnotinfreepratiqueonarrivalattheberthduetocausesattributabletothevessel,thenanewnoticeofreadinessshallbetenderedafterfreepratiqueisgranted.

（4）LaytimeLaytimeforloadingshallcommencesix（6）hoursafterN/Rtendered,whetherinberthornot,unlessloadingissoonercommened.Laytimeusedshallceasetocountimmediatelyoncompletionofloading.

（5）RunningofLaytime

Inanycaserunningoflaytimeshallnotbeinterruptedforanyvesselsondemurrageunlessloadingisactuallyhinderedduetothefaultofsuchvessel.

（6）Ship’sAgent

Theship’sagentatthePortofLoadingwillbenominatedbyBuyer.

（7）OtherLoadingTermsandConditions

1）CountingofLaytime

1）-ⅰ）IncasewhereN/Ristenderedbeforecommencementoflaydaysandvesselisnotworked,thelaytimeshallcommenceonlyafterexpiryof6hoursturntimefrom00:

00hoursofthefirstdayofthestipulatedlaydaysunlessloadingissoonercommenced,inwhichcaselaytimeshallcommenceatthetimeofactualcommencementofloading.

1）-ⅱ）Timelostinwaitingforberthshallbecountedaslaytimeused.

2）Thevesselshallvacateloadingplaceassoonasloadingiscompleted,weatherandtidepermitting.

3）LoadingbyVesselsGrabs

IncaseofLoadingthevesselbyvesselsgrabs,theSellershallprovidecargoasguaranteedintermsofContractperweatherworkingday（SHINC）asthecasemaybe,alongsidethevesselforfeedingthevesselinregularintervalssuchthat,asfaraspossiblevesselshooksdonotremainidleforwantofcargo.

4）DeadFreight

Sellershallberesponsiblefordeadfreightarisingfromnotloadingthecargouptothequantitydeclaredbythemastertotheextentthatthequantitydeclaredisconsistentatthetimeofcompletionofloading.

5）VesselNon-Performance-PortCharge

BuyerrepresentsthateveryvesselusedtovisitthePortofLoadingisinasatisfactorypositiontoreceivethecargo.Ifthevesselisnotcapabletoreceivethecargo,allportcostsincurredbythevesselaretobebornebySellerinthenormalcourseofbusinessagainstreceiptofrelevantbillsofdocuments.

（8）SettlementofDespatchorDemurrageatportofloading.

TheDespatchorDemurrageatportofloadingshallbesettlementinfinalpayment.SellershallpresenttheStatementOfFact（SOF）,NoticeofReadinessandlaytimec