We, hereby confirm representing our group of miners for the time being with corporate authority and legal responsibility that we are ready, willing and able to enter into contractual agreement to procure and sell South Kalimantan Steam Coal from Binuang in GAR 4200-4000.
Duration of Contract: 12 months (with option to rool over or extension), Term of Payment: Cash 5-4-1.
Payment terms: 50% of total contract will be paid after sign of contract and at the time coal hauling to jetty, 40% of total contract will be paid after the first barge are dock at jetty, 10% of total contract will be paid after handing over all of documents.
Standard Ordering Procedure: Buyer signed L.O.I on company letterhead, including preliminary banking information and contact details, recently dated, and no more than 3 days old. The indicative price information and coordinative bank of the buyer should also be state on the LOI; Seller sends FCO; Buyer send the Draft of the Master Purchase Contract and draft copy of the Letter of Credit text for the Seller's Approval; Buyer or Buyer's representative visit the Coal Mine; Buyer and Seller sign the Master Purchase Contract; Any additional shipments shall take place at regular intervals, as per contract schedule.
Loading Port: Jetty Kpp. Sungai Puting, Jetty Sungai Salai, Binuang - South Kalimantan; Anchorage: TABONEO, South Kalimantan-Indonesia; Inspection: Load Port report of Certificate of Sampling & Analysis, Certificate of Weight and Draft Survey Report is final and binding to the contract. Inspection Documents to be issued upon completion of loading by PT.Sucofindo Indonesia, PT.Geoservice or PT.Surveyor Indonesia; Others: Any agreement resulting from this proposal will become final and binding only when executed by authorized individuals of both parties. Other contractual terms and conditions to be mutually agreed.
We do hope that this offer is in compliance with your requirement, and I believed this mutual relation will merely our respective companies so that it may serve as the basis for as to work together in most harmonious and professional manners. We thank you for taking interest in our offer and would highly appreciate receiving your confirmation as soon as possible.