PRODUCT: Iron Ore Fines: Fe 63.5, rejected below 62.5, etc. We also offer Iron Ore Pellets, but buyer must state preferred specifications.

ORIGIN: Brazil

TERMS: FOB ONLY

MINIMUM QUANTITY: 150,000 Metric Tons (MT) on Contract Basis. Smaller quantities cost more per MT.

PRICE QUOTE: USD $200.00 MT for Contracts of 150,000 MT or better.*

 
We work DIRECT with the Iron Ore Refinery, and we will work ONLY with the legal Principal (either the actual End Buyer or the Legal Mandate for the Buyer. The Legal Mandate MUST have papers that PROVE his claim he is the Legal Mandate). If you qualify as the Buyer or Mandate, then we can most certainly supply your Iron Ore. Shipments are typically in denominations of 12,500 MT; however, since you are purchasing on an FOB basis, it will be your responsibility to locate a ship that will transmit in the quantities you prefer.

Please NOTE: We operate on the following basis, and this is FIRM because it is dictated by the Refinery:

1) I provide Soft Price Quote in response to your inquiry (which will include the Specifications).
2) You are then required to provide a Letter of Intent (LOI) PLUS a Bank Comfort Letter (BCL) from the Buyer's bank or either an Irrevocable Corporate Purchase Order (ICPO).

IMPORTANT: The BCL or ICPO must authorize permission for the Seller to conduct a Soft Probe of the Buyer's account, in order to confirm the availability of funds to cover the cost of the 1st shipment. Because multiple shipments are involved, it must grant permission to conduct a Bank Probe on a revolving basis, to ascertain the funds are available for the subsequent shipment.
3) If we do not receive the items stated in Item #2 above, there will be no further correspondence or action from us.

I hope this information is understandable and agreeable.

Robert H. "Bob" Fain III

Patco International Wholesalers, Inc.

Contact DIRECT at: patcoinc (at) cox.net

FAX: 702-361-2614

*Special Note Regarding Brazil's Export Taxes: The export taxes in Brazil are approximately 35% - 38% of the Price stated on the Proforma Invoice and supporting documents.  Thus, the Refinery selling the Iron Ore will not protect or honor commissions that significantly increase the original price of the Seller's price quotation.  Added commissions of large amounts will impact on the Seller's profit margin, to the point that it can eliminate a significant portion or even erase all of the Seller's profit.  The Seller WILL protect commissions, but they must be at a reasonable amount.