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    LOI - Authorisation (Format)

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    Rio Riyanto
    This document is a letter of intent from Company A to purchase 100 million 3M 1860 face masks from Company 3M. It outlines the key terms of the proposed transaction including unit price of $4.10 CIF per mask, total contract value of $410 million, inspection to be done by Buyer, and payment to be made through an escrow or letter of credit. It also lists the procedures to be followed, which include submitting proof of funds, signing non-disclosure and fee protection agreements, and issuing a standby letter of credit before the production contract starts.

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    LOI - Authorisation (Format)

    Uploaded by

    Rio Riyanto
    5 views2 pages
    This document is a letter of intent from Company A to purchase 100 million 3M 1860 face masks from Company 3M. It outlines the key terms of the proposed transaction including unit price of $4.10 CIF per mask, total contract value of $410 million, inspection to be done by Buyer, and payment to be made through an escrow or letter of credit. It also lists the procedures to be followed, which include submitting proof of funds, signing non-disclosure and fee protection agreements, and issuing a standby letter of credit before the production contract starts.

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    LOI - Authorisation (format)

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    This document is a letter of intent from Company A to purchase 100 million 3M 1860 face masks from Company 3M. It outlines the key terms of the proposed transaction including unit price of $4.10 CIF per mask, total contract value of $410 million, inspection to be done by Buyer, and payment to be made through an escrow or letter of credit. It also lists the procedures to be followed, which include submitting proof of funds, signing non-disclosure and fee protection agreements, and issuing a standby letter of credit before the production contract starts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    5 views2 pages

    LOI - Authorisation (Format)

    Uploaded by

    Rio Riyanto
    This document is a letter of intent from Company A to purchase 100 million 3M 1860 face masks from Company 3M. It outlines the key terms of the proposed transaction including unit price of $4.10 CIF per mask, total contract value of $410 million, inspection to be done by Buyer, and payment to be made through an escrow or letter of credit. It also lists the procedures to be followed, which include submitting proof of funds, signing non-disclosure and fee protection agreements, and issuing a standby letter of credit before the production contract starts.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Date: May 1, 2020

    Buyer Company I A Company


    Name
    Seller Company 3M
    Name
    Transaction Code 3M 1860 Face Mask – 1 May 2020

    Letter of Intent

    We, A Company represented here by B Company are an active company in good standing
    registered in xxxxxxxxxxx, and hereby confirm with full legal responsibility that we are ready, willing
    and able to purchase the items(s) herein referenced, subject to the mutual approval by the parties,
    namely:

    We, B Company hereby confirm that we have the funds available that are clean, clear and free of
    any liens or of non-criminal origin, legally obtained from non-criminal origin, and obtained from
    non-criminal business or actions. We further confirm that we are the owners of the cash account
    to be used for this transaction, having full signatory authority and control, thereof, which is
    available for immediate placement at our discretion.

    As specified below, and with the following terms and conditions:

    Product: 3M Face Mask, Model 1860, N95 NIOSH Approved


    100,000,000 Units of 3M Face mask, Model 1860, N95
    NIOSH Approved.
    Quantity:

    Contract Period: Single Purchase


    Grace Time to Load MAY 2020
    Total 100,000,000Units of 3M Face mask :
    Delivery: 100,000,000 Units of 3M 1860 delivered to To be
    determined, USA

    Origin: United States


    Packing: As determined by 3M Standard Packing
    Destination: As determined by Buyer
    USD 4.1 CIF per 3M Face mask, Model 1860, N95
    Unit Price: NIOSH Approved.
    Delivery to agreed locations.

    USD:410,000,000
    Total Contract Value:
    Buyer provides POF Opens Escrow or L/C

    Inspection: By Buyer at Stock locations or SGS 3rd party inspection

    ● Buyer provides security for total purchase value by

    Payment Terms: Escrow of LC


    ● Buyer’s independent representative or SGS inspects
    the stock for every lot before delivery.
    ● Seller will dispatch the stock as per agreed
    schedule to agreed locations,
    ● Buyer receives the stock at various locations and
    make payment by Escrow or LC to seller.
    ●
    PROCEDURES:.
    1) Buyer submits Letter of Intent (LOI) with Weekly Shipping Information (Quantity & Destination)
    2) Buyer submits Proof of Funds ( POF )
    3) Buyer submits NCNDA
    4) Buyer and Seller will initiate KYC and POL through mutually elected counsel. Supplier issues
    PO to Buyer
    5) Seller and Buyer sign Fee Protection agreement with intermediaries.
    6) Seller and Buyer sign JV Agreement and Draft Contract Agreement
    7) Documentation lodged with 3M and Attorney’s for Demand Draft and Compliance Clearance
    8) Master Production Contract with delivery schedules and Invoice is issued for payment.
    9) Buyer Issues SBLC (Standby LOC)
    10) Upon Verification and Authentication the Production Contract starts with Delivery Schedules

    Signed by the Parties duly as follows:


    Sincerely,

    Sign with Chop:

    _______________________________

    Director Name: xxxxxxxx

    Designation : Owner- Principal

    Company Name : A Company

    Country : xxxxx

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