Letter of intent To: End seller We “Pooyandegan Asiagostar Omid ltd.” on behalf of our buyer, represents that we are ready to make all agreements with your company for purchasing your products with bellow terms: Product: Used railways Quantity : 100000 mt/month for 12 months Packing: Cut and packed in containers Destination: Price: USD200/MT CIF East Asian and Indian ports or buyer option Payment : By irrevocable, divisible RDLC against SGS report at unloading port and other document equal to value of 50000 MT revolving for 24 equal shipments. PBG: 2% PBG by seller to make operative the L/C (in case you ask for advance payment this will be omitted and replaced by this term: PBG : Advance payment by buyer and bank guarantee by seller will act as performance bond guarantee And will revolve automatically for next 24shipments after previous shipment has done .) Inspection: inspection will be furbished by SGS at loading port on seller behalf and at unloading port on buyer behalf regarding quality and quantity. Certificate of inspection at loading port is binding for both party and bank for releasing the L/C. POP: Certificate of inspection by SGS at seller yard regarding quantity and quality This POP will present by seller in reply to our ICPO along with FCO. Advance payment: None operative advance payment equal to 10% of RDLC against bankguarantee by seller equal to 12% of RDLC which will make it operative. Procedures which we offer and hope you will accept: 1. FCO with full terms by seller in reply to this LOI 2. ICPO with agreed terms by buyer 3. Issuing contract by seller and signing the contract by both party on agreed terms. 4. Lodging the agreed contract in respective banks 5. BCL against full POP through bank system 6. Certification of contract by bank and chamber of commerce and certify by embassy 7. Issuing RDLC at sight against documents and inspection at destination port 8. PBG by both party: Advance payment equal to 10% of RDLC value by buyer against bank guarantee equal to 12% of RDLC value by seller. On behalf of buyer, Farzad Bahmani