At the loading port, the seller must designate, at the seller`s expense, a qualified surveyor who determines the specifications of the ore content in each lot and presents a certificate indicating the destination as well as the percentage of free moisture loss at 105oC. In order to maintain consistency in the quality of iron ore intricacies, the seller conducts daily sampling, testing and analysis at the unloading site, in order to maintain quality control by delivering the shipment for the benefit of all parties involved. For each shipment of iron ore that does not meet the Fe specifications referred to in point 3, the base price covered in item 4 is adjusted as follows, in accordance with the Fe contents defined in point 9:- The buyer will give an advance to the seller Rs.250000 lakes by the draft application in which he presents the land letter of credit mentioned in accordance with the format of the contract provided by the buyer. Iron ore fines delivered and dumped on the land designated by the supplier are legalized for the buyer`s benefit by the seller and iron ore fines, which are also subject to dumping by the buyer on the land in order to be legalized by the buyer, so that the stock can be fully held hypothetically at the buyer`s bank/s or its designated agencies. The seller authorizes the free exit and aggressiveness to the authorized agent (s) of the buyer, as well as to the authorized representatives of the banks designated by the buyer. The seller has no right to pledge or charge on this deposit of iron ore which belongs to the buyer. The seller must make the necessary documents in favour of the buyer before the start of the delivery of iron ore on the designated land in the seller`s port, which will be an integral part of the documents before the acceptance of the buyer`s acknowledgement against his BG. A) The seller provides the buyer in bulk, in seaworthy condition, the seller`s cash ship is always above water on a maximum authorized project if it is fully loaded at the loading site. Oversized: U.S. dollar equivalent 0.50 PAR MT equivalent in Indian rupees on the natural basis of the pro-rata fraction are applied to the amounts of fines over 10 mm and more than 5%. If the shipment does not meet any of the chemical specifications covered in point 3, as they are definitively defined in point 3 in accordance with the provisions of Clause 9, the base price in the equivalent Indian rupees is reduced as follows. B) The Port Authority and Stevedoring Agent certificates confirm the amount that is received daily (Port Weighment Certificate).

The title of each shipment is returned by the seller to the buyer through the trading bank when it receives the refund of the proceeds from the opening bank through the trading bank covered in point 7, after the loading on board the ship is closed in the loading port, with retroactive effect on the date of delivery of the ore.