Copper Concentrate Contract in EnglishBooking NoteQUANTITY AND QUALITY5000 wet metric tons +-10 in Seller’s option expected to assay approximately as followsElementAssayCIQ Rejection Level Cu 22 - 3
icial London Bullion Market Association silver price, as published in the London Metal Exchange's daily base metal settlement price for the quotational period, less a deduction of US$0.02 per gram of silver.
GoldDeduct grams per dry metric ton of the concentrate and pay for % of the balance of the final gold content of the concentrate at the official London Bullion Market Association gold price, as published in the London Metal Exchange's daily base metal settlement price for the quotational period, less a deduction of US$2.00 per gram of gold.
PenaltyDeduct US$1.00 per dry metric ton for each 1% below the copper content specification.
PaymentPayment shall be made by confirmed, irrevocable, transferable and divisible letter of credit, payable at sight, in favor of the Seller, to be opened with a first-class international bank acceptable to the Seller.
Force MajeureNeither party shall be liable for any failure to perform its obligations under this contract if such failure is caused by fire, flood, earthquake, storm, war, terrorist acts, or any other causes beyond its control and without its fault or negligence. The affected party shall notify the other party promptly of the cause and estimated duration of the delay.
Governing LawThis contract shall be governed by and construed in accordance with the laws of the Republic of Singapore. Any disputes arising out of or in connection with this contract shall be submitted to arbitration in Singapore in accordance with the rules of the Singapore International Arbitration Centre.
AmendmentThis contract may be amended or modified only in writing and signed by both parties.
Entire AgreementThis contract constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements between them
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