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1.
CHOICE OF IMPORTERS
In order to encourage
dealings with international producers
and accredited suppliers of urea and
at the same time lay down stringent
conditions for ‘Grey Market’
operators, the canalizing agencies
shall categories suppliers as per
the following terms and conditions:
| Category
of Suppliers |
Bid
Bond (In $ PMT) |
Performance
Bond (As % Of Contract Value) |
Credit
Rating Required |
Bank
Reference Required |
| Category
I
Producers as per IFA publication
'Survey of urea capacities,1995'
or Any updated edition of
the same
|
Nil |
1% |
No |
No |
| Category
II
Accredited suppliers (who
have successfully supplied
to India for atleast two
years in the last 5 years)
|
US
$3 |
3% |
No |
No |
| Category
III
All others not falling
under Categories I &
II
|
US
$10 |
10% |
1.Standard
&Poor 2. Moody's or
3. Dun & Bradstreet
|
Yes |
2.
CONTRACTING OF IMPORTS
2.1 Imports
shall be undertaken only with the
approval of the Board of Directors
or the Sale-Purchase Committee (SPC)
constituted by the Board. No single
individual should be permitted to
take decisions relating to purchases,
payments, etc.
2.2 The canalising
agencies may suitably combine open
global tenders with limited tendering
looking to the exigency of requirement.
In limited tendering, preference will
be in favour of producers and accredited
suppliers only. Long term contracting
with producers is recommended with
a view to ensure security of supplies
at the internationally competitive
prices most advantageous to the country.
2.3 As far
as possible, imports shall be contracted
only on FOB basis. In cases wherein
contracting on C&F basis is considered
necessary, the canalising agencies
shall seek prior waiver from Transchart
in accordance with the Government
policy on Ocean Transportation.
3.
MODE OF PAYMENTS
3.1 All payments
shall be made against Letter of Credit
(L/C), which shall normally not be
transferable, divisible and assignable.
However, transferable L/C’s can
also be opened in special circumstances
with the express approval of the Board
or Sales Purchase Committee as authorised.
It shall be opened on receipt of a
Performance Guarantee and a copy of
the signed Contract.
3.2 The Performance
Guarantee will NOT be released
till all claims have been settled
by suppliers.
3.3 Those
suppliers who have not settled claims
for the last one year shall be placed
on ‘holiday; till such time as
the outstanding disputes are resolved.
4.
INSPECTION OF CARGO
4.1 The canalisisng
agencies shall ensure that the internationally
reputed inspection agencies detailed
for conducting quantity/quality inspection
at the load port exercise due care
and diligence in the performance of
their duties.
4.2 As far
as practicable, quantity and quality
as determined at the discharge port
shall be treated as final. The specific
quantity/quality testing requirements
are left to the commercial judgement
of the canalising agencies.
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