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Re: CIBOLA post# 37527

Friday, 02/04/2011 1:49:35 PM

Friday, February 04, 2011 1:49:35 PM

Post# of 42622
CIBOLA! I completely agree with you. I have been associated with international trading of commodity. As per practice, seller has his assay analysis for ore before he offers it for sale. Seller get paid up to the agreed percentage of the value of the bulk materiel, once it is delivered at the seller's port or on the ship. Usually 10 to 15% payment is retained by the buyer until the ore is tested at the buyer's port by his lab. The final payment is released according to the average of the two lab analysis.

Here ore has been delivered at the buyer's port. According to one PR, buyer wanted this ore to be transported first to his choice of designated port and then tested there before loading into the ship. For all purposes our ore is already been delivered to the buyer and I pray there is no foul play from any party.