QUANTITY AND QUALITY
The copper concentrate shall be shipped in.
Shipment is scheduled for, subject to suitable vessel availability.
If a fully workable letter of credit is not received by Seller’s bank as specified in “Payment” be low Seller shall have the right but not the obligation to delay or suspend performance of any of its obligations under the contract and/or terminate the contract. Any losses arising out of Buyer’s failure to open a workable letter of credit in time shall b e for Buyer’s account.
CIF, China, as per Incoterms 2000.
The price per dry metric ton of concentrate shall be the sum of the payments less the deductions specified below:
% of the final copper content of the concentrate, subject to a minimum deduction of unit s, at the official London Metal Exchange cash settlement quotation for Grade ‘A’ Copper, as published in the Metal Bulletin in US$ and averaged over the quotational period.