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I. Buyer shall provide Letter of Intent (LOI) in Chinese and English version to Long Hsiung Economic Development Foundation, the content shall include: quantity per year, the specification, the port of discharge, the payment method (cash? FOB? CIF?), contact person and Interested buying price.
II. When Long Hsiung Economic Development Foundation received the buyer's Letter of Intent , operation process is as follows:
1. Long Hsiung Economic Development Foundation will provide a written Confirmation of Supply (FCO) to buyer.
2. Buyer issues the Appointment of Procurement Letter to Long Hsiung Economic Development Foundation.
III. Both parties shall confirm the said I and II, then both parties will arrange the field visits and confirm the place and time of the signing of the Agreement for Sale and Purchase (“Agreement”), and the three parties or both parties have formally sign the “Agreement”.
Note: Pre-communication is the key to the success of the transaction. The written Chinese and English content should be formally issued only after the project coordinators of the parties have confirmed the contents of written Chinese and English are no problem.
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