Пpоцедуpа контpакта

1. Once the volume, delivery terms and the price are agreed on, we would require LOI from the Buyer. The Buyer should also be able to provide latest financial documents (balance sheets) confirming his ability to meet payments.
2. The Buyer is then welcome to visit our warehouse and manufacturing plants in Russia.
3. A contract is signed by both parties - the Seller and the Buyer. Please note that trial orders for FeNi are limited to 20-40 MT per client.
4. All export contracts will be signed with our trading company InvestTradeMetall Technologies Ltd registered in British Virgin Islands (BVI), incorporated on 3rd October 2003 with a company incorporation number: 562820. The payment will be made to our offshore accounts, Parex bank in Riga, Latvia. Both InvestTradeMetall Technologies Ltd and Liteiniye Zavodi JSC are controled and owned by the same Managing Director.
5. Due to shortage of raw materials (Ni scrap), we currently work with clients that offer us the best payment terms. The order of preference is as follows:
   1. 80-90% TT (cash advance) prepayment is made. Upon completion of production cycle, which takes 2-3 weeks depending on the volume, any independent 3rd party inspection company can verify chemical composition at our warehouse in Moscow. Upon acceptance, the remainder is paid by TT. Upon receiving the funds, release papers are provided.
   2. We deliver the product to an independent warehouse (FCA terms). Upon product acceptance by a 3rd party inspection company, the Buyer pays 100% TT to our bank account.
   Upon receiving the funds, release papers are provided.
   3. Irrevocable and confirmed L/C to be opened within 48 hours of signing a contract in a bank in Moscow. Once we receive the documents at our specified bank, we then start the procedure of preparing the goods and the documents. L/C is paid upon accepting the product at an indpendent warehouse (FCA) or the final loading of the carrier when all of the documents together with the bill of the lading (B/L, Railways Bill or CMR) are presented to the bank (payable on sight).