They are given under Contract Terms & Conditions - FOB and include. General Terms and Conditions Shipping Terms & Conditions Letter of Credit Format *
Minimum order quantity varies for different products and details of most products are given in the Export product profile. For others, the dealing executives may be contacted.
We do not have a policy for appointing agents for export. Hence the question of paying any commission to agents does not arise.
All L/C’s opened on SAIL for buying steel on FOB basis need to incorporate the Red Clause. This clause allows SAIL to negotiate its commercial invoice and realize full payment after the expiry of the Laycan period given in the NOR, subject to receipt of cargo at the port. Red clause is operated whenever the buyer, within the specified laydays fails to nominate a suitable vessel or vessel nominated by the buyer fails to arrive at the designated load port within the laycan. For further details please refer to General Terms and conditions.
Generally it is effected within 45 days from the date of receipt of workable Letter of Credit* as per our Format given under Contract Terms & Conditions – FOB.
Presently we are entering into FOB stowed Contracts with delivery from Load ports of Vizag for Bhillai and Rourkela Steel Plant products and from Haldia for Durgapur, Bokaro and IISCO Steel Plant products. Payment is to be made by means of an irrevocable, Letter of Credit (L/C*) payable at sight established by a first class international bank, satisfactorily in all respects, in favour of Steel Authority of India Limited, Central Marketing Organisation, 40 Jawaharlal Nehru Road, Calcutta - 700071 (India).
There is no fixed price for export as this depends on size, grade, shipment period and prevailing market prices in the importing country.
Normally it takes one to two weeks from the date of submission of above details from financially strong customers.
SAIL books export orders on spot basis. SAIL generally does not enter into long term export contracts with customers.
For details please click Enlistment of New Customer
Export orders are booked from enlisted customers either through negotiations or invitation of bids.
Major steel products exported are Mild Steel billets, Wire rods, Hot rolled Plates/Coils Sheets, CRNO Steels. Details are available in Export product profile.