Dear sir
if bellow terms and procedure can be accepted by you send it on your LETTER HEAD as FCO

Product: USED RAILS and steel scrap HMS1&2
Quantity: 20000 MT/month for 12 months for USED RAIL and 20000 MT/month for 12 months for HMS1 &2
Packing: Cut and packed in containers
Price: USD290/MT CIF ASWP for USED RAILS and USD290/MT CIF for HMS1&2
Destination: ASWP
Payment: By revolving and irrevocable, non transferable and non-divisible RDLC against shipping documents and SGS report at unloading port equal to value of 30000mt, revolving for all quantity
PBG: 2% PBG
Inspection: inspection will be furbished by SGS at loading port on seller behalf and at unloading port on buyer behalf regarding quality and quantity. Certificate of inspection at unloading port is binding for both party and bank for releasing the L/C.
Specification: No heavy rust, clean without slag, dross, trash, wood, plastic, alloy, prohibited goods and free of harmful radiation and bombs.

Procedures:
1. Buyer issues ICPO with soft probe
2. Seller will issue FCO and contract with agreed terms
3. Buyer will sign the contract and FCO and seller in turn will sign the contract
4. Buyer and seller will Lodge the agreed contract in respective banks
5. Buyer will issue BCL against PARTIAL POP from seller through bank system
6. Buyer visits yard before issuing bank instrument - OPTIONAL
7. Buyer will issue none operative RDLC equal to one shipment for each product
8. Seller will issue 2% PBG and make operative the RDLC
9. Seller commence to deliver the product according to contrac