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What are the key clauses in iron ore sales purchase contract

  • Contract between cargo seller and buyer - Procedure for

    The contract of carriage, which is separate, comes about as a result of this sales contract. UK sales are subject to the provisions of the Sale of Goods Act 1979, as amended. This Act sets out an unpaid sellers rights, one of which (in section 44) is the right of stoppage in transit. Contracts for the sale of goods usually include provisions

  • Irrevocable Master Fee Protection Agreement (IMFPA

    We, the undersigned herewith, referred as the Seller and Buyer, under penalty of perjury do hereby irrevocably confirm and irrevocably accept to pay all intermediaries and fee holders at the same time and in a manner as the Seller is being paid for each and every transaction of this Contract up to the completion of the Contract plus rollovers and extensions and in accordance with the bank

  • 9 Essential Clauses for Your Purchase Agreements - CREOnline

    Jan 31, 2012· Possession of the property and occupancy (tenants excepted), with all keys and garage door openers, will be delivered to the Buyer when title transfers unless vacant. If vacant, possession and keys to the property will be given to Buyer upon execution of Contract. Leases, advance rents and security deposits will transfer to the Buyer with title.

  • Sales Contract Template - Get Free Sample

    SALES CONTRACT. THIS SALES CONTRACT (this Agreement or this Sales Contract), effective as of effective date, is made and entered into by and between [Sender.Company], a company organized and existing in [Sender.State], with offices located at [Sender.StreetAddress] (hereinafter the Buyer), and [Client.Company], a [Client.State] company, with a registered address located at

  • Standard Iron Ore Trading Agreement (SIOTA) - Lexology

    Sep 07, 2012· On the 30 May 2012 Global Ore launched its physical iron ore trading platform and the Standard Iron Ore Trading Agreement (SIOTA).

  • Mining Process and SAP Solution SAP Blogs

    Aug 07, 2014· The dip in the chinas growth rate has made the key commodities like iron ore and coal to topple into the over-supply. Despite having weaker commodity prices the government is vying for their own pie and cost escalations adding the worse to it.

  • International Sales of Goods Contract: 10 Key Clauses

    The 10 clauses that, at least, have to be included in a good international sales contract are summarized below. PRODUCT. The contract goods should be specified at least to the degree that they can be identified. Naturally, greater precision describing them reduces the potential for misunderstanding.

  • Iron ore futures sink to three month low as pullback continues

    Aug 12, 2019· The January 2020 iron ore contract on the Dalian Commodities Exchange slumped 5.2 per cent to 612 yuan a tonne in late trade, extending the

  • Dealing With The Unknown - Which Law Really Applies To

    Jun 25, 2008· Scenario 1: Japanese car parts manufacturer and Australian importer enter into a sales & delivery contract choosing Singaporean law to apply to their contract. Scenario 2: Australian resources company and Chinese steel manufacturer enter into a contract for the delivery of iron ore to China sales contract specifying the laws in Western

  • FAQ: Iron Ore (TSI) Futures - CME Group

    Our iron ore contract is available for post-trade clearing through CME ClearPort. This entry into the market sale or purchase of physical iron ore fines. These include miners, traders, and steel mills. These index Because iron ore is the key resource in steel production, Chinas consumption level is the dominant factor impacting price

  • Fortescue Metals Group - Wikipedia

    Fortescue Metals Group Ltd (Often referred to as FMG) is an Australian iron ore company. As of 2017, Fortescue is the fourth largest iron ore producer in the world after BHP, Rio Tinto, and Vale. The company has holdings of more than 87,000 km 2 in the Pilbara region of Western Australia, making it the largest tenement holder in the state, larger than both BHP Billiton and Rio Tinto.

  • Key Clauses in the International Sale Contract

    Below, we select and describe the 10 key clauses of an international sales contract: Description of goods. This clause is one of the central clauses in a sale contract. As a general rule, the buyer will prefer more precise and detailed descriptions than the seller.

  • Charty party forms in a charter agreement between

    CORE7 // Iron ore // Full name: Mediterranean Iron Ore C/P. Despatch clause : If cargo operations are completed before expiry of the laytime, a monetary reward, termed despatch or despatch money, is normally payable by the owners to the charterer. The contract of sale between the seller and the buyer of the goods is separate from

  • Fortescue enters into ground-breaking deal for first

    Sep 14, 2015· Fortescue enters into ground-breaking deal for first Aboriginal iron ore mine . Sep 14, 2015. Fortescue Metals Group Limited (ASX: FMG, Fortescue) has entered into a commercial agreement with Australian Aboriginal Mining Corporation Pty Ltd (AAMC) which will enable the establishment of Australias first Aboriginal owned and operated iron ore mine.


    Iron Ore Iron ore is a bulk commodity that provides the ferrous content for steelmaking. The collective use of iron ore refers to several different types of deposits, which can be broadly grouped into high-grade and low-grade ores. High-grade ores of between approximately 50 to 65 percent iron are

  • Remedies for Breach of Contract under the Indian Contract Act

    Bikash AIR 1996 Cal. 67, the Honble Calcutta High Court has observed that since manganese and iron ore are not ordinary items of commerce, if a contract for sale of iron and manganese ore from a mine has been made, specific performance of such an act would be allowed. When monetary compensation would not afford adequate relief

  • Oregon Residential Purchase and Sale Agreement - eForms

    An Oregon residential purchase and sale agreement is delivered to a homeowner from a buyer seeking to acquire a residential property. The document relays the buyers proposal and specifies a period in which the owner must accept the conditions before the offer expires.

  • Always Have An Attorney Review Your Real Estate Contract

    The contract sets forth what I call the essential terms of the contract, as well as the other terms. The essential terms are the identity of the buyer and seller, as well as the purchase price, closing date, the type of deed the seller must provide and what appliances and fixtures are included in the sale.

  • Does a friendly discussions clause need to be obeyed

    Jul 11, 2014· The Claimant, Emirates Trading Agency LLC (ETA), and the defendant, Prime Mineral Exports Private Limited (PMEPL), entered into a Long Term Contract (LTC) for the sale and purchase of iron ore. After ETA's failure to take up the requisite quantity of iron ore, the parties entered into talks and several meetings took place where the dispute was


    Long-term contracts for the sale and purchase of mineral commodities have been a feature of the price stability by means of a fixed pricing clause (with or without escalation provisions). This, things as a standard contract in the iron ore industry, and it is doubtful whether it can be even said that

  • Letter of Intent (LOI) Template - All The Key Terms

    A Letter of Intent (LOI) is a short non-binding contract that precedes a binding agreement, such as a share purchase agreement or asset purchase agreement (definitive agreements Definitive Purchase Agreement A Definitive Purchase Agreement (DPA) is a legal document that records the terms and conditions between two companies that enter into an


    Apr 03, 2019· The sale between the parties is a sale of a specific mass or iron ore because no provision was made in their contract for the measuring or weighing of the ore sold in order to complete or perfect the sale, nor was the price of P75,000,00 agreed upon by the parties based upon any such measurement.(see Art. 1480, second par.,

  • Suppliers - Rio Tinto

    Iron ore, one of the most abundant metals on Earth, is the primary raw material used to make steel Operations We work in about 35 countries in mines, smelters and refineries, as well as in sales offices, data centres, research and development labs

  • Estate Sale Contracts Guide Estate Sale Company Blog

    Estate Sale Contract Provisions. As your estate sale company holds more sales, youll figure out more of these clauses to include in your contract. We talked to a few estate sale companies to find out what they include based on past experience. Indemnification Clause. This is a fancy way of saying: CYA.

  • PRC Court refuses to enforce an SIAC award made under

    Aug 22, 2017· The globaORE Standard Iron Ore Trade Agreement contained a clause providing for arbitration under the SIAC Rules then in force and with a three-member tribunal in Singapore. On 14 January 2015, the seller commenced SIAC arbitration against the buyer and applied for the expedited procedure under the 2013 SIAC Rules.


    A. This document comprises the full terms of the purchase and sale contract (the contract) concluded between the parties, as well as the full terms of their dispute resolution agreement. B. The contract consists of all the general and special provisions herein, other than clause 15 of the

  • Fenix Resources Ltd executes binding iron ore offtake with

    Oct 14, 2020· Sales arrangements are now in place for of iron ore production from Iron Ridge, after a marketing agreement was forged in late August with Atlas Iron. Making good progress

  • May the force be with you - the obligation to mitigate

    Administration sales to connected persons: independent opinion compulsory from 30 April 2021; the precise wording of the clause is key. The wording will vary from contract to contract. However, in construction and supply contracts, several fairly standard types of force majeure clause are typical. a dam close to an iron ore mine burst

  • Standard Contract Terms For Every Sales Contract and

    Every sales contract should contain a force majeure clause which excuses a delay in performance for a reasonable time in the event it is caused by an event beyond your business' reasonable control (e.g., fire, earthquake, tornado, labor strike, etc.).


    For a period of one year from the date of termination of this contract Broker will be entitled to a commission in the event Seller enters into a purchase contract with any buyer previously

  • Purchase Contract 100'000 Mt Iron Ore With FCR Clause With

    IRON ORE PURCHASE CONTRACT CONTRACT NO.: LH412-1A DATE: 15 MAY 2012. We, the SELLER hereby agree to sell, and the BUYER hereby agrees to purchase the Iron ore material described in this agreement (hereinafter the Iron Ore Fines or the Ore), in accordance with the terms and conditions as hereinafter set forth.

  • Technical Accounting Alert - Grant Thornton Australia

    Break clause A steel manufacture signs a contract to supply 50 tonnes of standard plate steel for delivery in six months. The contract permits either party to cancel in the first 60 days for a one-off fee of $50,000 (intended to compensate the other for administrative costs).

  • Contract of sale: These clauses could cost you - Snymans

    Particularly important are two clauses, one relating to occupation and one to breach of the contract. A contract of sale will often stipulate that occupation of

  • Commercial clauses - Contracts: clause bank - Commercial

    This is a precedent minimum purchase clause (sometimes called a minimum spend commitment clause) requiring a distributor or customer to purchase a minimum quantity of goods from the supplier or place orders of an aggregate agreed minimum price. This clause is particularly relevant for use in supply contracts and distribution agreements. Maintained

  • Negotiating a royalty pricing agreement: lessons from

    Jun 18, 2020· In this case, the ore price becomes a key determinant of government revenues from the royalties as well as the amount that mining companies must pay. Contracts and legislation often require related-party resource transactions to be priced at fair market value, but do not specify in detail how fair market value is to be determined for the resource.

  • BIMCO Home

    BIMCO is the worlds largest direct-membership organisation for shipowners, charterers, shipbrokers and agents. In total, around 60% of the worlds merchant fleet is a BIMCO member, measured by tonnage (weight of the unloaded ships).The organisation has NGO status and is based in Copenhagen, Denmark, with offices in Athens, Singapore and Shanghai.

  • Specifications guide Iron ore - S&P Global

    The following Iron Ore specifications guide contains the primary specifications and methodologies for Platts Iron Ore assessments throughout the world. These are the timestamps used for Platts iron ore assessments. Data reported at or after these timestamps is not considered in the assessment process. Asia: 5.30pm Singapore Atlantic: 4.30pm

  • Ch 10 LSCM 4360 Flashcards Quizlet

    A ship valued at $1,337,500 is carrying a cargo of iron ore valued at $125,000, and a cargo of coal valued at $100,000. The ship is stranded and the captain jettisons what is later determined to be $12,500 worth of iron ore.


    iron ore essential background on iron ore markets and the contract ICE and 65%, with key markers at 58%, 62%, 63.5% and 65%. There is a degree of correlation The ICE iron ore swap contract is the worlds first cleared iron ore contract against Platts index methodology.

  • Low oil price - high disputes risk: The scope for disputes

    May 13, 2020· Low oil price and existing force majeure claims Rig contracts LNG Sale and Purchase Agreements (SPAs) 1. of the failure to perform. 14 This was the interpretation recently given by the English High Court to a force majeure clause in a drilling rig contract. So a shipper of iron ore pellets from Brazil to Malaysia trying to claim force

  • Supplying to BHP BHP

    BHP currently operates and manages facilities for the Jansen Potash Project site and is preparing to build the Jansen Stage 1 Project, that consists of the greenfield development of all operation facilities and associated buildings and structures for the mining and operation of the Jansen underground potash mine.

  • KWM To exclude or not to exclude the Vienna Convention

    Oct 30, 2017· It has been typical for sellers of commodities, like iron ore or copper concentrate, particularly from stable legal jurisdictions, to push to exclude the operation of the CISG from their sales contracts. As a result, it has become difficult for buyers to resist this where the wellestablished sale of goods rules of that stable jurisdiction apply.

  • Dealing with the unknown - Which law really applies to

    Jun 18, 2008· Scenario 1: Japanese car parts manufacturer and Australian importer enter into a sales & delivery contract choosing Singaporean law to apply to their contract. Scenario 2: Australian resources company and Chinese steel manufacturer enter into a contract for the delivery of iron ore to China sales contract specifying the laws in Western

  • 4-Draft Contract Iron Ore Seller To Buyer Bill Of Lading

    THE COMMODITY 2.1 Iron Ore (Fe 64.5%) The Seller shall supply and the Buyer shall buy FINE ORE 65 - 64,5%. Said FINE ORE 65 64.5% shall be provided monthly in accordance with schedule of delivery Appendix No: 3 to this contract, by the Seller to the Buyer, for a

  • Publication 535 (2020), Business Expenses Internal

    Conditional sales contract. Whether an agreement is a conditional sales contract depends on the intent of the parties. Determine intent based on the provisions of the agreement and the facts and circumstances that exist when you make the agreement. No

  • Rio Tinto cuts iron ore price: sources

    Jun 23, 2011· Rio Tinto, the world's No. 2 iron ore miner, will drop its prices by up to 3 per cent for Chinese steel mills for the third quarter, sources with knowledge of the contract details told Reuters.