Vietnamese coffee exporter, Thuy Nguyen Coffee Co., Ltd.
, agrees to sell 50 metric tons of
Arabica coffee beans to Canadian coffee roaster, Maple Leaf Coffee Roasters Inc., under FOB
Incoterms 2020. The payment used is L/C
1. Name of goods
- Arabica coffee, class I, Lam Dong, Vietnam, crop season 2022-2023
2. Quantity
- 50 MT +- 5%, tolerance decided by the buyer, tolerance price is in accordance with
contract price
3. Quality
- Size: 6mm – 6.5mm
- Moisture: <= 12%
- Black bean: 4% - 5%
- Immature beans: 2% - 3%
- Foreign matter: 1% - 1.5%
- Broken bean: 3% - 4%
- The goods’ quality must be in accordance with the quality of the sample agreed by
both parties at the time the contract is signed. The sample is an indispensable annex of
the contract
- The Certificate of Quality issued by Vinacontrol have the ending validity
4. Price
- Unit price: 4,000 USD/MT FOB Hai Phong Port, Vietnam, Incoterms 2020
- Total Price: 200,000 USD
- In words: two hundred thousand United States dollars
- Loading and packing – marking charges included
5. Shipment
- Date of delivery: December 2023
- Port of loading: Hai Phong Port, Vietnam
- Port of unloading: Montreal Port, Canada
- Delivery term: FOB Hai Phong Port, Vietnam, Incoterms 2020
- Notice of shipment:
o The seller shall immediately notify the buyer when the goods are ready to be exported
o Within 24 hours before the arrival of the vessel at Hai Phong Port, the buyer must
inform the seller about the following informartion: vessel’s name, vessel’s number,
estimated time of arrival (ETA).
o Within 24 hours from the sailing of the vessel from Hai Phong Port to Montreal Port,
the seller must give notice to the buyer about the condition the goods, date of
delivery, estimated time of delivery (ETA), date and number of Bill of Lading.
6. Payment
Payment is made using Letter of Credit (L/C) in US dollars. The amount in the Letter of
Credit equals to 100% of the total contract price. The Letter of Credit will be opened by
the buyer at a prestigious bank in Montreal, Canada, and submitted to Vietcombank Hoan
Kiem, Hanoi, Vietnam. The Letter of Credit will be opened at least 30 days before the
shipment date and will be valid within 30 days from the shipment date
The Letter of Credit will be paid as soon as the seller submit the following documents:
o Bill of Exchange
o The original set (3/3) of the perfect Bill of Lading
o 3 original and 3 copies of Commercial Invoice
o 3 original and 3 copies of the Certificate of Quality and Quantity issued by
Vinacontrol
o 3 original and 3 copies of the Certificate of Origin issued by a competent authority
in Vietnam.
