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منو اصلی
The Terms

TERMS AND CONDITIONS OF OFFERING WHEAT AT THE

EXPORT RING(PIT) OF IRAN MERCANTILE EXCHANGE(IME)

 

1.        AS PER NOTIFICATION BY SELLERS BROKER, GOVERNMENT TRADING CORPORATION OF IRAN(GTC), UNDERSTANDS THAT THE WHEAT LOTS OFFERED AT THE EXPORT RING (PIT) OF IME, HAS ALREADY BEEN VISULLY OBSERVED BY THE BUYER PRIOR TO THE TRANSACTION AT IME.

2.        POINT OF DELIVERY SHALL BE F.O.T OF THE SILOES AND THE WAREHOUSES

       OF THE MENTIONED PROVINCES.

3.        THE BUYER IS OBLIGED TO TAKE DELIVERY OF THE PURCHASED WHEAT WITHIN 10 WORKING DAYS AFTER ISSUANCE DATE OF DELIVERY PERMIT.

4.        DEADLINE FOR SUBMITTING THE EXPORTING DOCUMENTS OF WHEAT & WHEAT FLOUR, IS MAX 60 DAYS FROM DELIVERY DATE OF THE GOODS, WHICH IS THE DEADLINE SPECIFIED IN DELIVERY PERMIT.

5.        IN CASE OF ANY DELAY IN TAKING DELIVERY OF WHEAT BY THE BUYER, THE AFORESAID PARTY SHALL PAY CARRYING CAHAGES EQUAL TO RLS 1,500 PER METRIC TON PER DAY FOR UNTRANSFERED CARGO.

6.        THE AMOUNT OF BOND GUARANTEE (B. G.), IS EQUEL TO DIFFERENCE OF THE BASE PRICE (IN RIALS ACCORDING TO THE OFFICIAL RATE OF THE CURRENCY APPLIED) AND THE AMOUNT OF RIALS 3,932,000 PER METRIC TON.

7.        THE BUYER HAS TO HAND OVER THE B. G. TO THE AUDIT DEPTMENT OF THE SELLER.

8.        ISSUANCE OF THE DELIVERY PERMIT SHALL BE SUBJECT TO RECIVING THE B.G. ACCORDING TO THE PROVISIONS OF ARTICLE NO 7.

9.        THE BUYERS SHOULD FULLY SETTLE WITH THE CLEARING-HOUSE AND PAY THE FULL CONTRACT VALUE TO GTC, WITHIN MAX 7 WORKING DAYS. THEN THEY SHOULD SUBMIT B.G TO THE AUDIT DEPARTMENT OF GTC FOR ISSUANCE OF DRAFT; OTHERWISE THE CONTRACT WILL BE CONSIDERED AS NULL AND VOID. CONSEQUENTLY AFTER DEDUCTION OF THE REVOCATION OF EXPENSES ACCORDING TO THE REGULATIONS OF THE CLEARING-HOUSE. THE  REMAINING AMOUNT WILL  BE RETURNED  TO THE BUYER.

10.    THE GOODS WILL BE DELIVERED IN BULK.

11.    CURRENCY OF THE TRANSACTION IS IN RIALS (BASED ON THE OFFICIAL EXCHANGE RATE).

12.  CONVERSION RATE OF WHEAT TO WHEAT FLOUR FOR EXPORT OF WHEAT FLOUR (FOR EACH 1,000 KG OF WHEAT) IS AS FOLLOWS:

 

 

 

NO

TYPE OF FLOUR

QUANTITY ( KG )

1

23 %

753.984

2

18 %

802.944

3

15 %

832.320

4

12 %

861.696

5

7 %

910.656

 

 

 

 

 

 

 

 
 

13.    DEADLINE FOR SUBMITTING THE EXPORT DOCUMENTS OF THE EXPORTED GOODS ARE  AS FOLLOWS:

A.    FOR WHEAT: MAX 2 MONTHS AFTER TAKING DELIVIRY OF GOODS.

B.     FOR WHEAT FLOUR: MAX 4 MONTHS AFTER TAKING DELIVIRY OF GOODS.

C.     FOR PROCCESSED MATERIALS FROM FLOUR: MAX 7 MONTHS AFTER DELIVERY OF GOODS.

14. CONVERSION COEFFICIENT OF WHEAT TO MACARONI :

       AS PER ANNOUNCEMENT OF MINSTERY OF MINES AND INDUSTRIES, IS 1.54 KG WHEAT FOR 1 KG OF MACARONI.

15. CONVERSION COEFFICIENT OF WHEAT TO BISCUIT, CAKE AND COOKIES: BASED ON MINSTERY OF MINES AND   INDUSTRIES   ANNOUNCEMENT IS 2 KGS OF WHEAT FOR 1 KG OF BISCUITE, CAKE AND COOKIES.

 

 

 

 

 

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