20000218

A. Ali Sundrani

TRADING CORPORATION OF PAKISTAN (PRIVATE) LIMITED

(GOVERNMENT OF PAKISTAN)

No. TCP/EXP/Cotton/4A/2000 February 17, 2000

INTERNATIONAL TENDER

TENDER FOR EXPORT OF 60,000 BALES OF PAKISTAN RAW COTTON

FIRM BIDS are invited TCP for export sale of 60,000 bales of new crop Pakistan Raw Cotton from reputed International Cotton Firms on following terms and conditions:-

(i) QUANTITY: 60,000 Bales of Pakistan Raw Cotton (375 lbs bale)

(ii) CROP YEAR: 1999-2000

(iii) QUALITY TYPE: 10,000 bales Type 1467 1-1/16" AND OR

30,000 bales Type AFZAL 1-1/16" AND OR

20,000 bales Type ALAKA 1-1/16"

(iv) TERMS: FOB Net Karachi.

(v) SHIPMENT: March/April, Seller's Option.

(vi) QUALITY & WEIGHT: Quality and Net Certified Weight by buyer's appointed controller/representative final at TCP premises in Pakistan. Replacement of rejected lots will be given in case of rejection of replaced lots, such quantity will be treated concelled at PAR at seller's option.

(vii) PAYMENT TERMS: a) By unrestricted and irrevocable Letter of Credit in favour of sellers, opened through any first class Bank payable/negotiable in Karachi at sight for 100% invoice value on presentation of relative documents at a Pakistani Bank.

b) The letter of Credit must provide reimbursement to the negotiating bank in Karachi through a first class Bank in New York and the following clause should be included in the Letter of Credit:-

"The Negotiating Bank is authorised to reimburse themselves for drawing under this Credit by debiting on account with (Name of Bank) New York by tested telex/cable".

All banking charges/commission outside Pakistan including reimbursement charges are buyer's account.

(viii) CARRYING CHARGES: The letter of Credit should reach the Sellers atleast fifteen days before the commencement of the first month of contracted period of shipment. Where the buyers cause delay in shipment due to their failure to produce the letter of credit in due time or for any other reason whatsoever, they shall be liable to reimburse the seller the following amounts unless otherwise agreed in writing (i) A charge of one and half percent (1-1/2%) of invoice value-subject to a-minimum of US cents 0.70 per lb. (US cents points seventy per lb.) for each calendar month or part thereof (ii) Additional cost of covering the exchange risk (iii) Any abnormal increase in costs outside the control of the seller. Nothing herein shall be construed as to confer on the buyer any right to claim delivery after the delay in shipment caused due to their failure to produce the Letter of Credit in due time.

(xi) RULES & ARBITRATION: Rules & regulations of the Liverpool Cotton Association Ltd.

(x) OTHER TERMS: As per CEC's standard Export Sales Contract form FS-5.

(xi) FORCE MAJEURE: The seller will not be liable for delay or non-delivery of goods caused by fire, flood, strikes, riots, civil commotion, accidents and/or war, or any other contingencies beyond the control of sellers.

(xii) The bidders will be required to give the name, branch and address of their Bankers.

(xiii) VALIDITY OF BIDS: Till 26.02.2000 up to 3:00 P.M. Pakistan Standard Time.

(xiv) BANK GUARANTEE: format@1% of the bid to be released after completion of shipment.

FIRM BIDS should be received by Export Cell, TCP on Fax No. 9202731 & 9202722 upto 24.02.2000 at 11:00 a.m. PST to be opened immediately thereafter in the presence of such bidders who wish to be present at the time of tender opening.

TCP Reserves the right to increase and or decrease the quantities. Any bid below 5,000 bales will not be considered.

TCP also Reserves the right to accept or reject any offer without assigning any reason.

G.M. (Cotton/Export)