On Buyer S Company Letterhead

ON BUYER’S COMPANY LETTERHEAD

COMPANY NAME

COMPANY ADDRESS

TEL/FAX:

MOBILE NOS:

Date: 24-November-2012

Spartan Group (HQ)

19 Libertas Avenue

Tableview 7441, Cape Town

South Africa

Spartan Group Ltd. Kenya

PO Box 25121-00603, Nairobi, Kenya.

Tel: +254 723424151

Dear Sir,

RE: LETTER OF INTENT:

We [Company Name], represented by: [Representative’s Name and Title] hereby state and represent, that it is our corporate intention to purchase the following commodity in the quantity and for the price as specified in the terms and conditions as stated below.

This representation is made with the full corporate authority of [Company Name].

Commodity: YELLOW CORN/MAIZE NON GMO fit for human consumption.

Origin: BRAZIL/AMERICAS

Quantity: Min - 25,000 MT

Packaging: Bulk/Bagged (Specify)

Destination: CIF, (Specify Port)

Delivery Time: Within 30Days

Price Indication: USD $_____ per MT

Payment Terms: Operative, Transferable, Irrevocable, Divisible, Assignable, Unconditional, Confirmed BANK GUARANTEE (BG) or STANDBY LC (SBLC), for the value of 25,000MT. Payable 100% 30 Days after arrival at the destination port

Our banking details are as follows:

BANK NAME:

BANK ADDRESS:

TELEPHONE:

SWIFT CODE:

EMAIL:

ACCOUNT NUMBER:

BANK OFFICER:

ACCOUNT NAME:

We hereby authorize you to perform a Soft Probe to validate funds availability. Further to we will submit the MT799 from our Bank. Please issue us your Proforma invoice, and all other relevant documentation so that we can execute the BG or SBLC immediately.

Yours Faithfully,

For and on behalf of:

[Company Name]

[Representative’s Name and Title]

cc - File

Procedure:

·  BUYER SENDS LOI COMPLETE WITH BANKING DETAILS

·  SELLER SENDS FCO

·  BUYER SIGNS FCO AND RETURNS AND SENDS MT799 PRE ADVICE BANK TO BANK

·  SELLER ISSUES PROFORMA INVOICE.

·  BUYER SIGNS AND RETURNS PROFORMA INVOICE.

·  BUYER OPENS NON-OPERATIVE DRAFT SBLC/BG

·  SELLER CONFIRMS SBLC/BG VERBIABGE

·  SELLER ISSUES CONTRACT.

·  BUYER REVIEWS, SIGNS AND RETURNS CONTRACT.

·  BUYER WITHIN 3 BUSINESS DAYS SENDS OPERATIVE STANDBY LC

·  SELLER ISSUES 2% PERFORMANCE BOND

·  SHIPMENT COMMENCES