الخام الامريكي الخفيف يغلق منخفضا لجمود محادثات رفع سقف الدين

الخام الامريكي الخفيف يغلق منخفضا لجمود محادثات رفع سقف الدين

أغلقت العقود الآجلة لخام النفط الامريكي الخفيف على انخفاض يوم الاثنين مع لزوم المستثمرين للحذر بسبب القلق إزاء الجمود في المحادثات التي تجرى في واشنطن بشأن اتفاق لرفع سقف الدين الحكومي يلزم التوصل اليه لتجنب حدوث تأخر في السداد بحلول الثاني من اغسطس اب. وفي بورصة نيويورك التجارية (نايمكس) سجل الخام الخفيف تسليم سبتمبر ايلول 99.20 دولار للبرميل متراجعا 67 سنتا اي 0.67 في المئة بعد تداوله في نطاق بين 98.52 دولار و99.87 دولار

This Contract is made and entered into this 25th day of July, 2011 and valid if signed by both parties by and betweenTotal 8 pages)

THE SELLER (TRADER):
COMPANY NAME: AL HAI GENERAL TRADING LLC
SIGNATORY NAME: Mr. MUAED A KETHAN
ADDRESS: P.O. BOX 7771
CITY: DUBAI
COUNTRY: UAE
TELEPHONE: 00971 50 2240368; 04-2621222; 055-7135886
FAX: 00971 4 262 5333
E-MAIL: [عذراً, فقط الأعضاء يمكنهم مشاهدة الروابط ]
SIGNATORY POSITION: GENERAL MANAGER& PARTNER

AND

THE BUYER:
COMPANY NAME:
SIGNATORY NAME:
ADDRESS:
CITY:
COUNTRY:
TELEPHONE:
FAX:
E-MAIL:
SIGNATORY POSITION:


WHEREAS the Seller and Buyer, each with full corporate authority, certify, represent and warrant that each can fulfill the requirements of this contract and respectively provide the products and the funds referred to herein, in time and under the terms agreed to hereinafter; and whereas the seller hereby
agrees and makes an irrevocable firm contract to sell and whereas the buyer hereby agrees and makes an irrevocable firm contract to purchase SPARKLING CRYSTAL WHITE SUGAR ICUMSA 45 INDEX UNITS METHOD 4-1978 whereas the seller and buyer both agree to finalize this contract under the terms and conditions, it is therefore agreed as follows:

1.1 The seller and the Buyer herewith sell and purchase in accordance with the specifications, quantity and quality described in this contract (hereinafter called “Goods”)
1.2 The Specifications of the goods are provided in Appendix No.2 hereunder.

2. DELIVERY BASIS AND TERMS:
2.1 The Seller shall deliver the goods in Total of 25,000 Metric Tons within 25 days period in suitable 2 shipments of 12,500 MT, under delivery of conditions: CIF.
2.2.1 The first vessel will be delivered within 10-12 days after the receipt of the SBLC and the 2nd vessel will be delivered within 25 days from the date of the receipt of the SBLC.
2.2.2 The documents pertaining to the 1st vessel will be given to our bank within 5-6 working days and the documents pertaining 2nd vessel will be submitted within 14-17 days, from the date of the receipt of the operative SBLC in our bank account, as mentioned below.
2.2 Origin: Brazil, at seller’s option
2.3Delivery Port: DUBAI - UAE
2.4 Insurance: shall be covered by the seller

3. QUANTITY OF GOODS:
3.1 The unit of measurement in this contract is Metric Tons.
3.2The total quantity to be delivered is 25,000 Metric Tons +/- 2%
3.3 The quantity and quality of goods in the vessel at port of loading will be confirmed by SGS at the loading port at the expense of the seller.
3.4 The weight for invoicing purposes shall be established by the actual net weight. Weight franchise of +/-2% shall be allowed against the Bill of Lading weight. The base of the bill will be the certificate provided by SGS on board the vessel at the port of loading, which will be the same amount that appears on the B / L.
3.5 A weight-tolerance to the quantities of +/- 2 % is acceptable.





4. QUALITY OF GOODS:
4.1 The product object of this contract is SPARKLING CRYSTAL WHITE SUGAR ICUMSA 45.
4.2 The goods shall conform to specifications mentioned in the appendix No.2 hereunder.
4.3The quality of the goods will be confirmed by a certificate issued by the independent international survey companySGSat the port of loading, which shall be binding on both parties in all respects.
4.4 Buyer at his option and expenses can ask a second inspection of product at the discharging port in one day from the arrival of the vessel.

5. PRICE, TOTAL AMOUNT OF THE CONTRACT AND PAYMENT TERMS
5.1 The Buyer shall pay the Seller in currency of United States Dollars (USD).
5.2 The prices stated in this contract will be valid and set for the full contract of 25,000 MTS, subject to review if there will be any rolls and extensions
5.3 The price agreed is USD 750.00 per MT for the whole quantity, CIF DUBAI - UAE, customs and taxes excluded. This price is applicable for the supply of the shipments of 25,000 mt.
5.4 The price of the goods includes all costs incurred by the seller up to and including delivery basis CIFexcept where the contract specifically provides for a cost to be borne by the Buyer.

5.5 Payment is done by opening a SBLC for the total amount in the favour of the seller, in the format as prescribed by the Barclays Bank. In order to speed up the supply, the seller opts and recommends that the buyer can also use his bank account with Barclays Bank as it will be under one roof.
5.6 The seller will arrange for the shipments as mentioned above in the clause 2.
5.7 Once the cargo reaches Dubai, the buyer can arrange to inspect the cargo and after the satisfactory report from the inspecting agency, which is to be received within 3 working days of the cargo reaches Dubai.
5.8 This report is to be given to Barclays bank, with the buyer’s endorsement to release the fund forthwith.
5.9 Please note that, considering the banking formalities, always 2 working days cushion is to be provided to both the parties.

5.7 The payments must allow:
Ø Plus/ Minus 2 % in quantity / weight and LC-amount
Ø Charter Party B/L and Third Party documents allowed
Ø Documents acceptable with wordings: “ PCT” or “%” or “PERCENT”
Ø Partial shipments allowed ( where applicable ), transhipment not allowed
Ø Opening bank to allow for adding confirmation by any bank at the requesting party’s
Account.

6. PROCEDURE & PB :
6.1 Seller shall send the Sales & Purchase Contract to the buyer
6.2 Buyer sends signed and seal contract.
6.3 Seller verifies everything, fills in the gaps and signs and seals it.
6.4 Buyer will open the SBLC, in favour of the seller, whose bank account is maintained in Barclays Bank, as mentioned above points 5.5 to 5.10
6.5 The seller will issue 15% PB( USD 750) for the first shipment of 12,500MT, within 5 working days from the date of the receipt of active SBLC. After the 1st supply, then 5% will remain for the 2nd shipment.
6.6 Shipping starts as described in the schedule (see appendix 1).

7. DOCUMENTS REQUIRED FOR PAYMENT:
7.1 Full set of clean on-Board Ocean Bill of Lading, signed by the Master of the vessel.
7.2 Commercial invoice issued by seller (4) original plus (6) copies showing Contract Number, description of goods, amount of goods, unit price, total amount, gross/net weights of the goods.
7.3 Quality and quantity certificates issued by (SGS) at the loading port , showing the quality and all required by chemical structure as shown in Appendix No.2 hereto (Electronic transmissions is allowed).
7.4 Certificate of origin.
7.5 Packing list.
7.6 Phytosanitary Certificate.
7.7 Fumigación Certificate
7.8 Insurance Certifícate
7.9 Signed commercial invoices in (4) original plus (6) copies to be issued in the name of the applicant showing all details of goods and prices.
7.10 certificate of origin in (1) original plus (2) copy evidencing that the goods are of Brazilian origin duly issued and authenticated by the chamber of commerce in country of origin
7.11 Responsibility of the buyer is to legalize the documents with UAE Authorities.






8. PACKING:
8.1 50 Kg pp bags, in pallets of 2 mt, full vessel load, at buyer’s option.

The white sugar shall be packed in new ( polypropylene bags) with polyethylene lining of 50kilos net each with standard printings in English containing Commodity name, net weight, country of origin, batch name, name & address of the producer, production and expiry date in month & year. 2% empty bags to be provided with each shipment free of any charges and separate bill of lading to be issued for empty bags.

9. FORCE MAJEURE:
9.1 Both sides in this contract will be exonerated from their obligated in case of force majeure event.
9.2 Force Majeure is understood as any event such as fire, explosions, hurricanes, floods, earthquakes and similar natural calamities, wars, epidemics, military operations, terrorism, riots, revolts, strikes, industrial unrest, government embargoes, non compliance or non-payment by the end-buyer or the end-supplier, or other unforeseeable actions. The conclusion of this contract and outside the side’s reasonable control and which cannot be avoided by the reasonable diligence that could delay or prevent the performance of either side’s obligations in this contract.
9.3 The party to this contract whose performance of this contract is prevented by a Force Majeure event must notify the other party within 10 (ten) business days of the effective date of occurrence, which notice is to be confirmed by a certificate issued by the local chamberof commerce and industry, including particulars of the event and expected duration. Failure to submit such a notification will prevent the parties’ exoneration from contractual obligations under Force Majeure event makes such notice impossible.
9.4 The performance of either party’s obligation will be such a case postponed with the period of the existence of the Force Majeure event plus a reasonable period to remobilizing production and shipping. No penalty shall be payable for the duration of this delay.
9.5 Should the delay be caused by a Force Majeure event and last more than 1 (one) month, the sides will attempt to agree to a measure to allow the contract to continue. Should such an agreement not to be reached within 30 (thirty) calendar days from the date of certified Force Majeure event; the sides are entitled to terminate the contract.
9.6 The Force Majeure event does not exonerate the Buyer from paying for the goods already delivered on board of the vessel. That is to say that any Force Majeure event can not affect the last successful shipment.

10. LAW AND ARBITRATION:
10.1 The contract is subject toICC rules and is to be considered under existing guidelines and will supersede, if in conflict. The seller and buyer will try to settle all disputes amicably.

10.2 Any dispute, controversy or claim arising out of, relating to or in connection with this contract, including, without limitation, any dispute regarding its validity or termination, or the performance or breach thereof, shall be finally settled by arbitration under the Rules of Conciliation and Arbitration of the International Chamber of Commerce by one arbitrator appointed in accordance with the International Chamber of Commerce Rules - in Geneva/ Switzerland/ UAE
10.3 Any dispute to be settled within 30 (thirty) days after delivery of the requested notice and, if not settled amicably, to refer it to arbitration court in accordance with this contract, unless breach of payment occurs by the end-buyer. It shall be finally settled under the Rules of Conciliation and Arbitration of the International Chamber of Commerce by one arbitrator appointed in accordance with the said rules at the Chamber of Commerce in Geneva / Switzerland/UAE à see 10.2
10.4 The Decision of the Arbitration shall be final and binding
10.5 The Arbitration- and Attorney fees will be paid by the Losing Party.
10.5.1 This contract shall be governed and interpreted in accordance with the Laws of Greece. In
10.5.2 case of non-agreement thereto, the following shall apply:
10.5.3 This contract shall be governed and interpreted in accordance with the UNITED NATION CONVENTION for the sale of goods (U.N. CONVENTION). In event of inconsistency between this contract and the provisions of the U.N.CONVENTION, this contract shall have priority for the purpose of Article 39 of the U.N.CONVENTION, a reasonable period of time shall be deemed to be 10 ( ten) days. This contract shall further be construed in accordance with the courts of the European Union, which shall apply to ICC RULES AND REGULATIONS








11. ASSIGNMENT:
11.1 Any assignee or legal successor to either party shall assume all obligations and benefits of the contract.
11.2 The assignment of this contract requires the prior written consent of the other party.

12. GENERAL PROVISIONS:
12.1 Amendments to the present contract shall be valid only if agreed in writing and signed by duly authorized representative of both sides.
12.2 Correspondence in the course of the ordinary administration of the contract such as but not limited to notification of anticipated delivery date might be sent by fax, any electronic means or mail. Notices of suspension, termination or to invoke arbitration shall be sent as an advanced fax with an original Courier services and shall be deemed delivered on the evidenced date of facsimile.
12.3 The language of the contract and the correspondence, notices, invoices, certificates, Bill of Lading shall be English.
12.4 The contract comprises the present documents, Appendices and Addendums.
12.5 This contract supersedes all prior negotiations, representations and agreements and it is the sole agreement between the sides for sale and purchase of the goods.
12.6 Neither side shall raise any claim on the other for losses of use, profit or contracts, indirect and consequential loss arising under the law of the contract or tort including negligence and breach of duty.
12.7 All taxes or levies imposed by the country of destination having any effect on this contract are on the buyer’s account and his sole responsibility. Buyer must have all import permissions and permits in writing and legally valid – where applicable.
Buyer bears the sole responsibility of securing all permits, licenses or any other document required by the Government of the importing nation.
Seller will bear no responsibility to provide such documents. Buyer will bear all costs associated with the securing of such documents and will also bear all costs and penalties if such documents are not secured.

13. EFFECTIVE DATE
13.1 This contract shall come into effect when the buyer and seller have both initiated and signed the present document and its appendices, and that the financial instrument is active and confirmed by the banks.

14. CONFIDENTIALITY AGREEMENT:
14.1 Seller and buyer shall treat information provided by the other party on a strictly private and confidential basis. Seller and Buyer shall take all necessary steps to prevent the other’s confidential information from being misused or disclosed or made public to any third party except as needed to successfully complete the contract or to avoid conflicting claims (and except as may be required in accordance with the applicable law).
14.2 Buyer shall not use the confidential information provided the seller in such a way as to:
a. Circumvent the Seller in the commercial dealings with any and all supplies under the contract or

b. Do anything to circumvent the seller in such a way as to put seller at a commercial disadvantage with the suppliers or countries under this contract.
14.3 Seller shall not use the confidential information provided by Buyer in such way as to:
a. Circumvent Buyer in the commercial dealings with the consignee if introduced by the Buyer, or
b. Do anything to circumvent the Buyer in such a way as to put Buyer at a commercial disadvantage with a consignee if existing.
14.4 Seller and Buyer shall keep each other fully *******d about the progress of all current and future contract negotiations and about the performance of the contract.
14.5 The obligations of confidentiality of the Seller and Buyer shall remain in force for the period of 5 (five) years from the date hereof and automatically renewed unless otherwise agreed upon by both parties in writing.

15. NON-CIRCUMVENTION AGREEMENT:
15.1 The parties shall not in any manner whatsoever solicit nor accept business from sources or their affiliates that are made available by the other party to this agreement, at any time, without the prior written permission of the party which made the source available.
15.2 The parties shall maintain complete confidentiality regarding each other’s business sources or their identities and shall disclose such only to named parties pursuant to express written permissions of the party that made the source available.
15.3 The parties shall not in any way whatsoever circumvent or attempt to circumvent each other or any party involved in any of the transactions the parties are desiring or entering into and to





the best of their ability and assure each other that the original transaction codes established will not be altered or changed.
15.4The parties recognize the contract to be an exclusive and valuable contract of the respective party and they shall not enter into direct negotiations with such contracts revealed by the other party.
15.5 Neither party shall avoid payment of due fees, commissions and other remuneration in any way whatsoever.
15.6 In the event of circumvention by any party whether directly or indirectly, the circumvented party shall be entitled to legal monetary penalty as damages, equal to the maximum amount it should make from such transaction and any and all expenses including but not limited to legal fees that would be involved in the recovery of said damages. The circumventing party renounces to any right that he or she may have to claim a reduction of this amount.
15.7 The buyer irrevocably binds himself to provide any and all documentation requested by seller, within an acceptable delay, in connection with the sale/purchase of the aforementioned goods.
15.8 The seller irrevocably binds himself to provide any and all documentation requested by the Buyer, within an acceptable delay, in connection with the sale/purchase of the aforementioned goods.



Buyer’s Bank Details:

Bank name:
Account name:
Account number
SWIFT / BIC
Bank address:
Banker’s name:
Banker’s telephone number:


Seller’s Bank Details:

Bank name: BARCLAYS BANK
Account name:
Account No.:
SWIFT /BIC:
Bank address:
Bank Officer:
Banker's telephone number:
Banker's Fax. Number:

The ICC 1993 revision, public 600 shall apply to this contract as well as INCOTERMS-2010 as published by the International Chamber of Commerce.

18. ALTERNATE CORPORATE BANK ACCOUNT:
Due to the different banking regulations and practices around the world, various banking instruments are accepted by some banks in some countries and not accepted by others. Depending upon the financial instrument finally issued by the buyer to the seller, in order to facilitate the transaction, it may be necessary for the seller to use a bank other than that originally designated. Also it may be necessary for the buyer to use a bank / account other than that originally designated.

19. ELECTRONIC TRANSMISSION OF DOCUMENTS:



20. CONCLUSION:

In witness thereof, the parties have signed below and by doing so have accepted and approved all covenants, terms and conditions of this contract. The Agreement is compiled in 7 (seven ) pages including 2 (Two) annexes, with each party retaining the PDF as originals. The parties hereby confirm and accept that the contract sent by facsimile, courier or by email, is accepted as an original.
Spelling and typographical errors and differences of such nature between Bank issued and Beneficiary issued documents shall not be deemed discrepancies provided that the intent of the writer is clear from the context and in such case only UCP500 regulations shall apply at any time.


Signature and stamp Seller Signature and stamp Buyer





APPENDIX NO.1


1. CLOSING PROCEDURES

· Both parties exchange and sign the contract

· Upon successful completion of 2 X 12,500 MT quantity delivery on board against contract of 25,000 metric tons of ICUMSA 45 , confirmation of shipping documents, including inspection at the loading port, the buyer’s bank shall pay the 100% of the shipment value according to the terms of the contract – or as agreed
· Weight Tolerance per each lot: +/- 2%
· Payment by Wire Transfer as per Clause 5.6


SCHEDULE OF SHIPMENTS:

Both vessels will reach latest 10-25 days from the acceptance of the payment .







APPENDIX NO. 2
1. SPECIFICATIONS

Standard Requirements:

• White Crystal and or Refined Sugar of Brazilian Origin.
• Sugar should be extracted from sound unfermented undecided sugar cane or Sugar beet.
• Sugar should be clean free from any foreign taste or odor with sweet taste characteristic of white sugar whether dry or in solution.
• Sugar to be pure refined deodorized of Latest crop 2010.
• Production with good taste and smell.
• The crystals shall be uniform in size and colour
• Sugar shall be free from insects their fragments and metamorphosis or rodents excretes.
• Sugar shall be free from foreign matters. Preservatives or added colures the only permitted martial to be added are that stated in below.
• Chemical and physical properties of sugar shall be as the following:-

Sucrose Expressed as polarization 99.7 PCT Min.
Invert sugar (on dar weight basis) 0.04 PCT Max.
Ash by electrical conductivity 0.04 Pct Max.
Moisture (by drying at 105c for 3 hours) 0.1 pct max
Colour in Icumsa Unit 45 Pct Max
Sulfur in dioxide 20 MG/KG Min.
Water insoluble matters 0.012 Pct Max.





SELLER END OF CONTRACT BUYER
















APPENDIX NO. 3




STANDBY LETTER OF CREDIT-FORMAT (AS APPROVED BY BARCLAYS BANK)



TO: Barclays Bank UAE (the “Beneficiary”)
P. O Box 1891
Dubai, UAE

Dear Sirs,
Standby Letter of Credit No. [ ] dated [ ]


We ,------------------------(Branch address), whose registered office is located at ---------------------------------,hereby establish our Standby Letter of Credit No. [____________] (the “SBLC”) in favor of the Barclays Bank UAE 2the “Beneficiary”) for an amount not to exceed USD _____ (United States Dollars _____ only) (the “Aggregate Total Amount”) covering the obligations of M/s, __________UAE (the“Obligor”) to you in relation to theCredit facilities extended by you to the Obligor, in whatever nature or facility of your choice.

Any payment by us under this SBLC shall be made within 2 working days following receipt of your written demand for payment of an amount not exceeding the Aggregate Total Amount. Your written demand quoting this SBLC number must certify that: -

“This drawing under the SBLC in the amount of [ ] (the “Drawing Amount”) is made in respect of amounts due under the credit facility and payable to the Beneficiary by the Obligor. The Beneficiary has formally demanded payment of such amount due from theObligorand the Obligorhas failed to comply with such demand.

Any demand hereunder must be received at our offices, located at -------------------------- P.O. Box India, within the Expiry Date of this SBLC and marked for the attention of Trade Operations Department quoting this SBLC number. Partial demands are also allowed. Beneficiary can lodge the claim by way of Telex, Swift, Mail, Courier or hand delivered letter.

This SBLC sets forth the terms and conditions of our undertaking and such undertaking shall not in any way be modified, amended or amplified by reference to any document, instrument, contract or agreement referred to herein or to which this SBLC relates and any such reference to any document, instrument, contract or agreement shall not be deemed to be incorporated herein by reference.

This SBLC is subject to Uniform Customs and Practice for Documentary Credits, 2007 Revision, International Chamber Of Commerce Publication No. 600 (the “UCP”), and as to matters not addressed by the UCP shall be governed by and construed in accordance with the United Arab Emirates Law .

This SBLC shall expire on _____________ (the “Expiry Date”). Any demand made under and in compliance with the terms and conditions of this SBLC will be duly honored if received at our above-mentioned office on or prior to the Expiry Date of this SBLC


This swift is the original instrument and no mail confirmation will follow.

التوقيع

لا اله الا انت سبحانك اني كنت من الظالمين
سبحان الله و الحمد لله ولا اله الا الله والله اكبر ولا حول ولا قوة الا بالله العلي العظيم
اللهم اغفر للمؤمنين والمؤمنات والمسلمين و المسلمات
اللهم صلي على محمد وال محمد