Dear All,

New rice prices (for bulk shipping) attached. Contact us only if you have an LOI from the buyer (or entity opening the L/C, NO LESS) on company letterhead, and BCL information.  Vietnam prices have been dropping.

Regards,
Minh LE
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Procedures
———-
-NCND signed for all parties with passport SCANS
-Buyer provides LOI (Letter of Intent) on company letterhead, with banking information or BCL (Bank Comfort Letter)
-Seller issues FCO or Contract Draft in favor of Buyer
-Buyer returns FCO to Seller with Acceptance Letter to Contract Draft
-Seller sends six (6) hard copies to Buyer duly signed
-Buyer signs all copies then returns three (3) sets to Seller
-Buyer’s Bank sends Proof of Funds to Seller’s bank to show readiness to issue Letter of Credit as per contract
-Within five (5) business days, the Buyer’s bank sends the confirmed and irrevocable Letter of Credit at sight
-Delivery and shipment is initiated per mutually agreed upon schedule

*****
Vietnam Rice
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-New Crop
-Long grain white rice
-No Paddy rice
-Little “Fragrant” rice
-Very limited (to none) Parboiled rice
-Usual quality is 5% broken and 25% broken
-35% broken limited quantities only
-Special order on 100% broken
-No Performance Bond will be provided
-No POP will be provided
-NO quarterly/yearly contract will be accepted. Deal only on a “per contract” basis, due to price volatility.
-Shipments under 10,000MT can be from Can Tho port, Vietnam, with US $2/MT less than HoChiMinh City port.
-No samples will be sent, only sold (US $150/Quality). SGS will be used.

Conditions:
-Contact(s) must NOT be on the “black list” of Vietnamese Rice institutions or US “terrorist” list.
-All parties MUST sign an NCND (with proof passport SCAN) before ICPO.
-Payment by confirmed, irrevocable L/C at sight, through World Class bank. Citibank Lagos, Nigeria, NOT accepted.
-LOI and BCL required on company letterhead.
-Target prices beyond +/- US $5.00/MT of World Prices will be automatically rejected. However, we do not impose any commission
limits.

Specifications:
MAX % MAX % MAX
% MAX %
Broken 5 10 15 25
Moisture 14.0 14.0 14.0 14.5
Foreign matters 0.1 0.3 0.2 0.5
Chalky kernels 6.0 7.0 7.0 8.0
Yellow kernels 0.75 1.0 1.25 1.0
Damaged kernels 0.75 1.0 1.5 2.0
Red / Red streaked kernels 0.75 1.5 5.0 2.0
Paddy (grains/Kg) 15.0 20.0 25.0 30.0
Milling Degree W.M W.M W.M R.W.M
AVG Length of whole grain 6.2mm 6.2mm 6.2 mm 6.2mm

01. Prices and Delivery Terms: F.O.B. Can Tho or HoChiMinh City ports (price difference…), Vietnam (Incoterms 2000 to be applied).
02. Quantity: TBD (+/- 5%) at Buyer’s Option.
03. Shipment: 21 days (for 25,000MT) after receipt of workable L/C in good order.
04. Packing: In new single 50Kg PP bags. Buyer’s markings available if required.
05. Payment: By Irrevocable, Transferable and Confirmed L/C at sight, issued by an International First Class bank.
06. Inspection: By an independent surveyor, at Seller’s option.
07. Loading rate: 1,000MT per WWDSHEXEIU on basis of 4 holds/cranes min.