2963_BSRM

MGK INTERNATIONAL, INC

13 Roszel Road, Suite C201, Princeton NJ 08540

Tel: 201 332 5645, Fax: 646 843 4704

Email id: [email protected] / Website: www.mgkint.com

DATE JANUARY 15, 2015

CONTRACT NO MGK / 2963

THE SELLER MGK INTERNATIONAL, INC. 13 ROSZEL ROAD SUITE C201 PRINCETON, NJ 08540 THE END BUYER BSRM IRON & STEEL CO. LTD.

FACTORY: 202-205, NASIRABAD I/A, BAIZID BOSTAMI ROAD, CHITTAGONG, BANGLADESH. HEAD OFFICE: 1207/1099, ALI MANSION, SADARGHAT ROAD, CHITTAGONG, BANGLADESH.

THIS CONTRACT IS MADE BETWEEN THE BUYER AND THE SELLER WHEREBY THE BUYER AGREES TO BUY AND THE SELLER AGREES TO SELL THE UNDERMENTIONED GOODS THRU OUR AGENT IN CHITTAGONG M/S TECHNO VISION CORPORATION / M. F. TRADING CORPORATION ADDRESS: ALI BUILDING (2ND FLOOR), 200 / B JUBILEE ROAD, CHITTAGONG - 4000, BANGLADESH, AND IS SUBJECT TO THE TERMS AND

CONDITIONS AS STIPULATED HEREAFTER: QUANTITY: 250 MT (+/- 10% SELLER OPTION)

MATERIAL: FERROUS WASTE AND SCRAP CONSI STING OF HMS ORIGIN: CENTRAL AMERICA / SOUTH AMERICA COUNTRY NAME: BRAZIL / HONDURAS PRICE: USD 335.00/- PER MT CNF CHITTAGONG, BANGLADESH VALUE: US$ 83,750.00 (USD EIGHTY THREE THOUSAND SEVEN HUNDRED FIFTY ONLY) DESTINATION CNF CHITTAGONG, BANGLADESH (DUTY TAXES UNPAID) ACCORDING TO INCO TERMS 2010

SHIPMENT: - LATEST DATE OF SHIPMENT SHOULD BE 45 DAYS FROM THE DATE OF RECEIPT OF FULLY WORKABLE LETTER OF CREDIT IN OUR BANK. - SHIPMENT IN 20’ CONTAINERS (CY-CY).

- MINIMUM 10 -14 DAYS FREE DETENTION AT DISCHARGE PORT - TERMINAL HANDLING COST AT DISCHARGE PORT IS FOR THE SELLER ACCOUNT.

- ANY IMPORT DUTY OR CHARGES AT DISCHARGE PORT ARE FOR THE BUYER ACCOUNT - COST OF DESTUFFING CONTAINERS IS FOR BUYER ACCOUNT - SHIPMENT PRIOIR TO THE LC OPENING DATE IS NOT ALLOWED

- PARTIAL & TRANS SHIPPMENT ARE ALLOWED IMPURITIES: 1 % MAX IS TO BE ALLOWED PAYMENT: 100% L/C AT SIGHT/ 180 DAYS BANKER USANCE AND USANCE CHARGE WILL BE TO BUYER ACCOUNT. CLAIMS: ANY CLAIM ARRIVING DUE TO QUALITY OR QUANTITY SHOULD BE NOTIFIED WITHIN THREE WORKING

DAYS AFTER UNLOADING OF THE MATERIAL AT FACTORY PREMISES. IF ANY QUALITY DISCREPANCY IS

CLAIMED IT SHOULD BE SUPPORTED BY UNLOADING PHOTOGRAPHS WITH CONTAINER NO.’S AND INDEPENDENT THIRD PARTY SURVEYORS REPORT (INTERNATIONAL APPROVED INSPECTION AGENCIES). IN CASE OF QUANTITY DISCREPANCY, WE REQUIRE THREE COMPUTERISED WEIGHT BRIDGE TICKETS FOR EG. CFS INSIDE, OUTSIDE & FACTORY SHOULD BE PROVIDED SUPPORTING EVIDENCE.

INSURANCE: TO BE ARRANGED BY THE BUYER

mailto:[email protected]

http://www.mgkint.com/



Tel: 201 332 5645, Fax: 646 843 4704


LETTER OF CREDIT TO SHOW: 1) L.C. TO BE OPENED BY FULL SWIFT / CABLE. 2) SUBJECT TO UCP600 RULES

3) LC TO ALLOW TOLERANCE OF + 10 / -10% BOTH IN QUANTITY & VALUE 4) TO BE AVAILABLE WITH ANY BANK, NO RESTRICTED L.C.

5) TO BE ADVISED DIRECTLY THROUGH: HSBC BANK USA, NA A/C # 923411526 ROUTING # 021001088 SWIFT # MRMDUS33

6) L.C. TO BE OPENED ON FOLLOWING ADDRESS: MGK INTERNATIONAL, INC.

13 ROSZEL ROAD C201 PRINCETON, NJ 08540

7) PARTIAL & TRANS SHIPMENT ARE ALLOWED

8) DESCRIPTION OF GOODS “FERROUS WASTE AND SCRAP CONSISTING OF HMS” TO BE ALLOWED. 9) LC TO ALLOW 21 DAYS AFTER BILL OF LADING DATE FOR NEGOTIATIONS. 10) PLACE OF EXPIRY OF THE COUNTRY SHOULD BE HSBC USA.

11) LC TO BE FREELY NEGOTIABLE 12) THIRD PARTY DOCUMENTS ARE ALLOWED EXCEPT BILL OF EXCHANGE AND INVOICE.

13) MINOR DISCRIPANCY, SPELLING MISTAKES OR TYPOGRAPHICAL ERROR, OMMISSION OR INSERTION OF PUNCTUATION MARKS NOT IN ACCORDANCE WITH LETTER OF CREDIT ARE ACCEPTABLE AND TO BE IGNORED AT TIME OF PESENTATION OF D OCUMENTS.

14) ALL BANK CHARGES WITHIN BANGLADESH ARE FOR BUYER’S ACCOUNT

18) ALL BANK CHARGES OUTSIDE BANGLADESH ARE FOR SELLER’S ACCOUNT 19) ALL DOCUMENT MUST BE ISSUED IN ENGLISH

20) SHIPMENT PRIOR TO THE L/C OPENING DATE IS NOT ALLOWED DOCUMENTS TO BE PRESENTED:

1) SELLER COMMERCIAL INVOICE IN 3 FOLD. 2) 3/3 CLEAN SHIPPED ON BOARD BILLS OF LADING INDICATING FREIGHT PREPAID 3) PACKING LIST SHOWING NET WEIGHT OF CONTAINERS 4) CERTIFICATE OF ORIGIN WILL BE ISSUED BY CHAMBER OF COMMERCE. 5) CERTIFICATE OF NO WAR MATERIAL WILL BE ISSUIED BY INDEPENDENT SURVEYOR. FORCE MAJEURE: NEITHER SELLER NOR BUYER SHALL BE LIABLE FOR ANY DELAY OR FAILURE OR PERFORMANCE UNDER THIS CONTRACT

WHERE SUCH FAILURE OR DELAY IS CAUSED BY FORCE MAJEURE BEING ANY EVENT ,OCCURRENCE OR CIRCUMSTANCE REASONABLY BEYOND THE CONTROL OF EITHER PARTY,INCLUDING BUT NOT LIMITED TO:FAILURE OR DELAY CAUSED BY ACTS OF GOD,STRIKES,FIRES ,FLOODS,WARS(WHETHER DECLARED OR UNDECLARED OR UNCLEARED), RIOTS, DELAYS OR CARRIERS DUE TO BREAKDOWN OR ADVERS E WEATHER, PERILS OF THE SEA,EMBRAGOES,ACCIDENTS,RESTRICTIONS IMPOSED BY ANY GOVERNMENTAL AUTHORITY (INCLUDING ALLOCATION , PRIORITIES, REQUISITIONS, QUOTAS AND PRICE CONTROLS),LACK OF RAW MATERIALS, GAS, ELECTRICTY ETC.THE TIME OF

SELLER TO MAKE OR BUYER TO RECEIVE DELIVERY, THEREUNDER SHALL BE EXTENDED DURING ANY OF THE FOREGOING CLAUSES UP TO A TOTAL OF 20DAYS.IF ANY DELIVERY HEREUNDER SHALL BE SO DELAYED OR PREVENTED FOR MORE THAN 20 DAYS, EITHER PARTY MAY TERMINATE THIS CONTRACT WITH RESPECT TO SUCH DELIVERY UPON WRITTEN NOTICE TO THE OTHER PARTY WITHOUT ANY LEGAL

INTERVENTION OR ARBITRATION AND WITHOUT BEING LIABLE TO INDEMNIFY THE OTHER PARTY. THE PARTY CLAIMING ANY OF THE ABOVE FORCE MAJEURE CIRCUMSTANCES MUST IMMEDIATELY SECURE A FORCE MAJEURE CERTIFICATE WHICH MUST BE ISSUED AND SIGNED BY THE

RESPECTIVE CHAMBER OF COMMERCE. THE CERTIFICATE MUST STATE THE NATURE AND THE DURATION OF THE FORCE MAJEURE CIRCUMSTANCES.

ARBITRATION: ARBITRATION IN NEW JERSEY UNDER AUSPICES OF NEW JERSEY MARITIME ARBITR ATORS ASSOCIATION AND CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS CONTRACT OR THE BREACH THEREOF, SHALL BE SELECTED BY ARBITRATION IN NEW JERSEY BY THREE ARBITRATORS IN ACCORDANCE WITH THE PROVISIONS OF THE ARBITRATION ACT, 1963 AND SUBSEQUENT AMENDMENTS, UNDER

THE AUSPICES OF THE NEW JERSEY MARITIME ARBITRATORS ASSOCIATION. THE ARBITRATORS SHALL ISSUE A REASONED AWARD IN WRITING JUDGEMENT UPON THE AWARD RENDERED BY THE ARBITRATORS MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF.





Tel: 201 332 5645, Fax: 646 843 4704


ADDITIONAL CONDITIONS IF CONTAINER ARE ACCEPTED ON BOARD THE VESSEL BY THE SHIPPING LINE THEN ANY DAMAGE TO THE CONTAINER IS DEEMED TO

OCCURRED AFTER ARRIVAL AT DISCHARGE PORT AND COST AREBUYER ACCOUNT

APPLICABLE LAW AND JURISDICTION TITLE OF GOODS TITLE OF OWNERSHIP OF THE GOODS DOES NOT PASS TO THE BUYERS UNTIL THE SELLERS HAVE RECEIVED 100% PAYMENT FOR THE MATERIAL SHIPPED.

REMARKS: ANY ALTERATION OR MODIFICAITON OF THIS CONTRACT SHALL BE VALID ONLY IF IT IS MADE IN WRITING AND DULY ACCEPTED BY BOTH THE

PARTIES. ACCEPTED AND AGREED BY:

SELLER BUYER

___________ ___________ AUTHORISED SIGNATORY AUTHORISED SIGNATORY MGK INTERNATIONAL, INC. BSRM IRON & STEEL CO. LTD.



2963_BSRM

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