IRON ORE TERM SHEET
I. Introduction
This Iron Ore Term Sheet, prepared by [Your Company Name], serves as a comprehensive outline of the key terms and conditions essential for facilitating a potential transaction involving the buying or selling of iron ore. This document acts as a preliminary agreement between the parties involved, providing clarity on fundamental aspects such as price, quantity, quality specifications, delivery terms, payment terms, and other relevant provisions crucial for a successful transaction.
II. Parties Involved
Seller: [Your Company Name]
Buyer: [Buyer Company Name]
Contact Person: [Buyer Contact Person Name]
Email: [Buyer Contact Person Email]
Phone: [Buyer Contact Person Phone Number]
III. Transaction Details
A. Iron Ore Specifications
B. Quantity and Price
Total Quantity: 50,000 Metric Tons
Price per Metric Ton: $80
Total Contract Value: $4,000,000
C. Delivery Terms
Delivery Location: Port of Origin
Delivery Schedule: Bi-monthly shipments over 12 months
Transportation Mode: Ocean Freight
Responsibility for Shipping Costs: Buyer bears shipping costs
D. Payment Terms
Payment Method: Letter of Credit (LC)
Payment Schedule: 30% upon signing, 30% upon delivery, 40% within 30 days of delivery
Currency: USD (United States Dollar)
E. Inspection and Acceptance
IV. Miscellaneous Provisions
Force Majeure: [Force Majeure Clause Details]
Governing Law: [Governing Law Details]
Confidentiality: [Confidentiality Clause Details]
Amendment and Termination: [Amendment and Termination Clause Details]
V. Signatures
This Iron Ore Term Sheet is subject to review and acceptance by both parties mentioned above. Signatures below indicate acknowledgment and agreement to the terms outlined herein:
[Your Name]
[Your Company Name]
[Buyer's Name]
[Buyer's Company Name]
Term Sheet Templates @ Template.net
