Asian company has the mandate to buy the iron ore in the quantity and for the price as specified in the terms and conditions as stated below.
Terms & conditions:
| Commodity: | iron ore | |
| Origin: | not specified | |
| Specifications: | min 64,5% Fe | |
| Quantity: | 1.000.000 tons up to 4.000.000 tons / month | |
| Duration: | 20 years | |
| Incoterms: | CIF Asia | |
| Mode of payment: | letter of credit at sight | |
| CIF price: | 15% below on the market price |
Info from the platform: https://www.marketindex.com.au/iron-ore