SalesConfirmation
No. 95406
Date: Aug.5,1995
Seller: Shanghai Sewing Machine Imp.& Exp. Corporation.
Buyer: ABC Company, P.O.Box No. 123. Kuwait.
Commodity and Specifications:
Butterfly Brand Sewing Machine JA-1 3_Drawer’ Folding Cover
Quantity: 5000 sets, 5% more or less at seller’s option
Packing: In cartons of one set each
Unit Price: USD 58.00 per set CFRC3% Kuwait
Total Value: USD 290000.00(U.S. Dollars Two Hundred Ninety Thousand only)
Time of Shipment: During Oct./Nov. 1995 in two equal monthly lots, from Shanghai to Kuwait, allowing transshipment.
Insurance: To be covered by the Buyer
Terms of Payment: By Irrevocable Sight Letter of Credit to reach the Seller 15 days before the month of shipment and remain valid for negotiation in China until the 15thdays after date of shipment.
Remarks: This contract is concluded through Agent—Abdulla Company, Kuwait.
IRREVOCABLE DOCUMENTARY CREDIT
NO. 101465
SEPT. 2nd1995
TO: BANK OF CHINA
SHANGHAI, CHINA
FROM: THE COMMERCIAL BANK OF KUWAIT, KUWAIT
WE OPEN IRREVOCABLE DOCUMENTRY CREDIT NO.101465
BENEFICIARY: SHANGHAI SEWING MACHINE IMPORT AND EXORT CORPORATION
APPLICANT: ABC COMPANY. P.O. BOX NO.123 KUWAIT
AMOUNT: US$ 290,000.00( US DOLLARS TWO HUNDRED AND NINETY THOUSAND ONLY)
THIS CREDIT IS AVAILABLE BY BENEFICIART’S DRAFT AT 30 DAYS AFTER SIGHT FOR 100% OF INVOICE VALUE DRAWN ON THE COMMERCIAL BANK OF KUWAIT, NEW YORK BRANCH, NEWYORK, U.S.A.
ACCOMPANIED BY THE FOLLOWING DOCUMENTS:
1. SIGNED COMMERCIAL INVOICE IN 3 COPIES.
2. FULL SET OF CLEAN ON BOARD BILL OF LADING MADE OUT TO ORDER AND BLANK ENDORSED MARKED FREIGHT PREPAID AND NOTIFY APPLICANT.
3. INSURANCE POLICY IN DUPLICATE FOR 120% OF INVOICE VALUE COVERING ALL RISKS AND WAR RISK SUBJECT TO CIC DATED JAN 1st , 1981.
4. CERTIFICATE OF ORIGIN IN DUPLICATE ISSUED BY CHINA INTERNATIONAL CHAMBER OF COMMERCE OR OTHER GOVERNMENT AUTHORITIES.
5. INSPECTION CERTIFICATE OF QUALITY ISSUED BY APPLICANT.
COVERING:
5000 SETS OF BUTTERFLY BRAND SEWING MACHINE JA-11 3 DRAWERS FOLDING COVER AT US $58.00 PER SET CFR KUWAIT AS PER S/C NO 95406 DATED AUG. 5th, 1995.
LATEST SHIPMENT: OCT. 31st , 1995. FROM SHANGHAI TO KUWAIT.
PARTIAL SHIPMENTS: ALLOWED
TRANSHIPMENT: PROHIBITED
THE GOODS SHALL BE CONTAINERIZED.
DOCUMENTS MUST BE PRESENTED WITHIN 15th DAYS AFTER THE DATE OF ISSUANCE OF THE B/L, BUT WITHIN THE VALIDITY OF THE CREDIT.
SUBJECT TO UCP 500.
THE COMMERCIAL BANK OF KUWAIT
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