Payment methods

T/T：

1.30% of the total contract value, as down-payment, shall be paid by the Buyer to 9X Minerals not later than the 5th day after signing this contract.

2.Upon receipt of the Shipping Advice from the Seller 70% of the contract value shall be paid by the Buyer to9X Minerals within 15 days prior to the time of shipment.

3.All the bank charges incurred in China shall be paid by the Seller, and all the banking charges incurred outside China shall be paid by the Buyer.

L/C:

1.The Buyer, shall open an irrevocable Letter of Credit at sight by a reputable bank acceptable to 9X Minerals in favor of the 9X Minerals for an amount equivalent to 100 percent ( %) of the total contract value.

2.The latest date of shipment of L/C can not be earlier than the delivery date according to SINOMEC’s commitment.

3.The Letter of Credit shall be valid until the 21st day after the date of shipment.

4.Letter of Credit:

1）Full set of clean on board Bill of Lading or Airway Bill marked “Freight to collect “, contract number and shipping mark, and made out to order, blank endorsed.

2）Commercial Invoice covering 100 percent (100%) of the total contract value in Five(5) originals indicating contract number and shipping mark made out in details as per the contract concerned.

3）Detailed Packing List in five (5) originals issued by the Seller.

4）If needed, we provide one (1) original and two (2) copies covering 110% of the total contract value against all risks and war risk.

5）Certificate of Origin in one (1) original and two (2) copies Issue by Issue by competent authority of China in one original and 2 copies.

6）Shipping Advice in Two (2) originals.

5.All the banking charges incurred in China shall be paid by the Seller, and all the banking charges incurred outside of China shall be paid by the Buyer.

6.If the buyer fails to get letters of credit as the requirements above,9X Minerals has the right to request to amend the credit letter but related costs shall be paid by the buyer side.

T/T + L/C：

1.30% of the total contract value, as down-payment, shall be paid by the Buyer to the Seller not later than the 5th day after signing this contract.

2.The Buyer, upon receipt of the Delivery Advice from the Seller, shall, 15 days prior to the time of shipment, open an irrevocable Letter of Credit at sight by a reputable bank acceptable to 9X Minerals in favor of the Seller for an amount equivalent to 70% of the total contract value.

3.The latest date of shipment of L/C can not be earlier than the delivery date according to SINOMEC’s commitment.

4.The Letter of Credit shall be valid until the 21st day after the date of shipment.

5.Letter of Credit:

1）Full set of clean on board Bill of Lading marked “Freight to collect “, contract number and shipping mark, and made out to order, blank endorsed.

2）Commercial Invoice covering 100 percent (100%) of the total contract value in Five(5) originals indicating contract number and shipping mark made out in details as per the contract concerned.

3）Detailed Packing List in five (5) originals issued by the Seller.

4）If needed, we provide one (1) original and two (2) copies covering 110% of the total contract value against all risks and war risk.

5）Certificate of Origin in one (1) original and two (2) copies Issue by Issue by competent authority of China in one original and 2 copies.

6）Shipping Advice in Two (2) originals.

6.All the banking charges incurred in China shall be borne by the Seller, and all the banking charges incurred outside of China shall be borne by the Buyer.

7.If the buyer fails to issue letters of credit above requirements, 9X Minerals has the right to request to amend the letters of credit and the related costs borne by the buyer.

Third Party Payment

If the buyer pays the purchase to the seller by way of third party payment, related costs should be paid by the buyer.