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/004/2021 | Dated: 03 Jan 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 |
| High Carbon Ferro Manganese | Mn – 75% Min, Si- 1.50% Max, C – 8% Max, Phos-0.30% Max, S – 0.030% Max 10-60MM(90%) |
297 MT Loose in 20' containers |
1643.48/MT | US Dollar 488113.56 |
| TOTAL | US Dollar 488113.56 | |||
| PACKING | Loose in 20' containers | ORIGIN | Zambia | |
| DELIVERY TERMS | CIF | SHIPMENT | December 2021 | |
| LOADING PORT | Durban port,South Africa | DISCHARGE PORT | Rotterdam, Netherlands | |
| TRANSSHIPMENT | Allowed | PARTIAL SHIPMENT | Allowed | |
| PAYMENT TERMS | 30% Advance through TT Prior loading of cargo at our factory balance against shipping documents. | |||
| 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 borne by seller covering ICC A covering all risks till warehouse in Algeciras | |||
| 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 | Quality inspection by Alex Stewart International corporation, Zambia prior loading of trucks at Zambia factory at Sellers cost. Sampling results will be final and binding to both the parties on this contract. | |||
| 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: