Annexe LOI pour une procédure CIF
Template: Buyer’s letter of Commitment (CIF ASWP Procedure)
(Must be annexed to the ICPO)
“We,................, a Corporation from ............ with strong credibility and reliability, hereby confirm with full legal and corporate responsibility and under penalty of perjury that we are ready, willing and able to buy ............ with the quantity and for the price as specified in the ICPO. We would strictly adhere to the procedures stated in your soft corporate offer (SCO) and as shall be signed and sealed in the Sales Purchase Agreement - Contract.
Pursuant to stage 4 of the CIF procedure of sale, we are committed to providing SELLER Refinery company name with the financial instrument DLC MT700 within the stated and agreed five (5) working days.
In the event of failure on our part to produce DLC MT700, we commit to replace that financial instrument by a payment of Three hundred and fifty-five thousand five hundred dollars (US$355,500) via T/T within 48 hours, as a temporary alternative to performance guarantee to enable SELLER Refinery company name to proceed and arrange loading with shipping company.
This payment of Three hundred and fifty-five thousand five hundred dollars (US$355,500) shall be automatically deducted from the invoice value when final payment is made after discharge of product in the destination port.