Loi or icpo

1. LOI / ICPO draft
LOI
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DATE OF ISSUE: 30/06/2014
LETTER OF INTENT
To: (Please complete using details of our company that U will find in the message to which this has been
attached OR as has been advised to U in the accompanying message).
We, International Engineering Joint Stock Company, of D3, 3rd Floor, No. 96 Building, Dinh Cong
str. Thanh Xuan distr, Ha Noi, Vietnam. hereby state and represent with full corporate authority &
responsibility and under the penalty of perjury - that we are ready, willing and able to consummate the
purchase of the following commodity as per the specification, the quantity and the price – in
accordance with the terms and conditions stated herein under.
COMMODITY:
ORIGIN: (Please state your ‘preference’ but kindly include {Sellers option of country} since it will be our
prerogative).
SPECIFICATIONS: (complete specification, so we know for sure of your specific requirement).
PACKING: in Bulk.
QUANTITY: 200.000mt (+/- 10%).
CONTRACT LENGTH: 12 months.
DESTINATION PORT: Cai Lan seaport, Quang Ninh, Vietnam.
DISCHARGE RATE: (In Metric Tons PWWD).
TERMS: (FOB / C&F / CIF )
SHIPMENTS: (Please advise shipping schedule if available – but kindly note that the first lift will be
normally within 35-45 days from date of receipt of LC & the rest as per mutually agreed schedule).
TARGET PRICE: (Please write a reasonable price based on current market conditions, that you would
accept and to sign contract – this is to save us time without endless communication).
INSPECTION: Q&Q by SGS / Equivalent will be at seller's (our) cost at port of loading.
PAYMENT INSTRUMENT: (Please choose from amongst the following & insert the same into your LOI /
ICPO. This is a major factor in arriving at the lowest price OR state the instrument which has been agreed
upon if this draft if being requested dependant on prior communication).
1 – Stand-By L/C.
2 – Prime Bank Guarantee.
3 – FF-DLC (Fully Funded for total contract value) DLC.
4 – Revolving (Auto) DLC.
LOI / ICPO draft

2. LOI / ICPO draft
Kindly note that all L/Cs must be IRREVOCABLE, CONFIRMED, TRANSFERABLE & should be
payable 100 % at sight.
PERFORMANCE BOND: (Please note that our P.B. will be issued after Buyers L/C).
We understand that any and all offer’s and/or contracts will be subject to successful seller verification
of funds availability. We hereby give our permission for the seller to conduct a soft probe of our
account as per the co-ordinates below.
(The above is requested even if a BCL accompanies the LOI/ICPO). It is a summary portion & will be exercised
only if the BCL is found to be unclear or incomplete).
BANKING CO-ORDINATES:
L/C ISSUING BANK
Bank Name:
Branch:
Full Address:
Tel:
Fax:
Email:
Contact person:
Position/Designation:
SWIFT code:
Account Name:
Account Number:
CONFIRMING BANK (Must be a top 25 Prime world bank)
Name:
Address:
Bank Official:
Tel:
Fax:
(At the bottom of LOI / ICPO)
Name: (Corporate Seal)
Signature (Designation)
Date:
________________________________________________________________________
PROCEDURES:
1. Buyer sends signed, sealed current dated LOI / ICPO (as above) his letterhead, including complete and
detailed banking information and contact details – preferably accompanied by a BCL.
2. Upon acceptance of the LOI/ICPO, our FCO will be issued within 36 / 48 hours.
3. Buyer signs and seals FCO accepting price and conditions and returns it along with the draft copy of
L/C text for our approval.
LOI / ICPO draft

3. LOI / ICPO draft
* The BCL can be issued at this stage if required but please note that the LOI must contain permission for soft
probe to exercise if felt necessary at step # 1.
4. Draft contract is issued. Any amendments required will be done at this stage.
5. Buyer returns FINAL CONTRACT duly signed and sealed by e-mail / fax.
6. Within 7 days after the signature of FINAL CONTRACT Buyer opens his L/C.
7. PB is posted within 7 days of receipt of LC.
8. First shipment commences 40-45 days after opening of buyer's financial instrument. Any additional
shipments to take place as per pre-determined (contractually) mutually agreed shipping schedule.
LOI / ICPO draft