VIDICIAN TRADING PTE. LTD MR. ALVIN

VIDICIAN TRADING PTE. LTD, on behalf of our principle miner, hereby offer:

Item : Crushed Steam Coal in Bulk

Anchorage point : South Kalimantan, Indonesia

Contract period : One Year

Specification :

Gross Calorific Value (ADB) : 5500 Kcal/Kg

Gross Calorific Value (ARB) : 4200 Kcal/Kg

Total Moisture (ARB) : 35% approx

Inherent Moisture (ARB) : 15% approx

Ash (ADB) : 3-4% approx

Volatile Matter (ADB) : 42% approx

Fix Carbon (ADB) : 39% approx

Total Sulphur (ADB) : 0.15% approx

Hardgrove Grindability Index : 60

Size 0mm – 50mm : 90%

Quantity : Minimal 50.000 MT +/- 10% per shipment and for 12 months and can supply over 100.000 MT per shipment

Price : USD$41.00 FOB mother vessel

Payment Terms : For first till 12 months shipment, 100% LC at sight NON TRANSFERABLE

Independent Surveyor : PT. SUCOFINDO/PT. GEOSERVICES/PT.IOL INDONESIA. All TEST REPORTS ARE FINAL AT LOADING PORT

Loading Port : One safe anchorage open sea at South Kalimantan, Indonesia

Laycan : Date to be mutually agreed upon

           

Procedural and Payment Terms:

Payment Procedure by Letter of Credit (L/C) for 100% (one hundred) value amount per month, issued by Top 10 International Prime Bank.

1. Buyer approves the FCO with Company Stamp. Buyer provides detail Bank Details, Draft Contract and draft LC; all submitted together to miner.
2. Buyer and Seller signs NCND and FPA.
3. Buyer provides Contract Draft.
4. Buyer and seller signs Contract Agreement.
5. Buyer issued the Non-Operative Letter of Credit to Seller.
6. We require the draft LC sent to us after receiving FCO.
7. Seller post the Operative Bank Performance Bond at 2 % (Two percent) value amount per shipment delivery (50.000 MT) to Buyers Nominated Bank to activating the L/C and same time providing the Laycan dates to Buyer.

8. Shipment commences as per contract.
9. Mine visit allowed after confirmation and signed contract.