They are given under Contract Terms & Conditions - FOB and include. General Terms and Conditions Shipping Terms & Conditions Letter of Credit Format *
1 What are the contract terms and conditions?
2 What is the minimum order quantity for a product?
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.
3 Does SAIL pay commission for export orders booked?
We do not have a policy for appointing agents for export. Hence the question of paying any commission to agents does not arise.
4 What is RED Clause in LC?
All L/CÔÇÖs 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.
5 What is the normal delivery period?
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 ÔÇô FOB.
6 What are the delivery and payment terms for booking of steel from SAIL?
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).
7 Does SAIL have fixed price for export of steel products?
There is no fixed price for export as this depends on size, grade, shipment period and prevailing market prices in the importing country.
8 How much time does it take to start business after submitting details/documents for enlistment with SAIL?
Normally it takes one to two weeks from the date of submission of above details from financially strong customers.
9 Are their any long-term export contracts that SAIL concludes with buyers?
SAIL books export orders on spot basis. SAIL generally does not enter into long term export contracts with customers.
10 How do I get enlisted?
For details please click Enlistment of New Customer
11 How are the export orders booked?
Export orders are booked from enlisted customers either through negotiations or invitation of bids.
12 What are the major steel products exported by SAIL?
Major steel products exported are Mild Steel billets, Wire rods, Hot rolled Plates/Coils Sheets, CRNO Steels. Details are available in Export product profile.