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Loi

SM Resources (HK) Co., Limited proposes to buy 10,000 metric tons of crude palm oil per month from PT. SINAR MUSI PRIMA for 12 months. The key terms of the proposal include a price of $750 per metric ton FOB, payment via irrevocable letter of credit, and delivery to Ulsan Port, South Korea. The letter of intent is valid for 5 working days to allow PT. SINAR MUSI PRIMA to provide an official sales confirmation or draft sales contract.

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748 views2 pages

Loi

SM Resources (HK) Co., Limited proposes to buy 10,000 metric tons of crude palm oil per month from PT. SINAR MUSI PRIMA for 12 months. The key terms of the proposal include a price of $750 per metric ton FOB, payment via irrevocable letter of credit, and delivery to Ulsan Port, South Korea. The letter of intent is valid for 5 working days to allow PT. SINAR MUSI PRIMA to provide an official sales confirmation or draft sales contract.

Uploaded by

Bayu Saputra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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SM Resources (HK) Co.

, Limited
Flat H, 5
th
Floor, Block 5, Coastal Skyline, 12 Tung Chung Waterfront Road,
NT, Hong Kong
SMP-SMR 10 May, 2014 Page 1
To: PT. SINAR MUSI PRIMA
Attn: Bapak Armansyah, Direktur Utama
Issue Date: 10 May, 2014
Letter of Intent (LOI) for CRUDE PALM OIL
No: 0503/CPO/SMR/SMP/2014
Dear Sirs
We, SM Resources (HK) Co., Limited and its associated company, confirm with full
corporate responsibility that we are ready, willing and able to buy the following
commodity in accordance with terms and conditions in below:
COMMODITY: CRUDE PALMOIL
1. Commodity : CPO, FFA 5% Max
2. Origin : Indonesia or Malaysia
3. Quantity: 10,000mt/month x 12 months in a year with a long term contract.
Quantity and Quality surveyor (by SGS) shall be appointed by BUYER
4. Specification: Guarantee Spec.
No PORAM SPECIFICATION GUARANTEE METHOD
1 Free Fatty Acid(% Wt) 5% max As Palmetic
2 Moisture & Impurities(% Wt) 0.25% max M&I
3 Iodine Value Min 50%, 55% Max Wijs-method
4 MPA Degree (Need Point) 40
o
C Max
5 DOBI Value 2.31 min
6 Color Indication (Cloud) Point 3.5R - 3.5Y Max
5. Packing : Bulk Vessel
6. Loading port : Indonesian or Malaysian Port
7. Price : USD750 / MT FOB
(Including Export Tax and all other additional fees for the export)
Price will be adjusted by the contracted formula in every 3 months.
(CFR Ulsan Port, South Korea is also acceptable with its price adjustment)
8. Payment: Irrevocable Documentary Letter of Credit based on the USD.
100% at sight LC
SM Resources (HK) Co., Limited
Flat H, 5
th
Floor, Block 5, Coastal Skyline, 12 Tung Chung Waterfront Road,
NT, Hong Kong
SMP-SMR 10 May, 2014 Page 2
Payment shall be done by International Prime Bank in Non-transferable Irrevocable
L/C at sight,
by SM Resources (HK) Co., Limited or its Nominee as for its business partner.
9. Discharging Port: Ulsan Port, South Korea
10. Partial Shipment: Allowed (With mutual agreement)
11. PB: Seller (or LC Beneficiary) shall issue the PB (2%) on Total LC amount for the
performance of the shipment.
12. TRANSACTION PROCEDURES
a. Seller issues FCO
b. Buyer issues ICPO
c. Buyer and Seller sign the SALES CONTRACT
d. Seller issues PB (2% of Invoice amount)
e. Buyer opens L/C
f. Delivery and shipment commence as per schedule mutually agreed.
VALIDITY
This Letter of Intent (LOI) shall remain valid for the duration of 5 (Five) working days
after the issuing date.
Thank you for your kind cooperation, and we look forward to your Official FCO or Draft
Contract soon.
Best Regards,
Buyer:
SM Resources (HK) Co., Limited
CHEON HO SUNG
CEO/President

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