Bills on Declared Grade basis
12.1.1 The Seller shall raise source-wise bills for the Coal supplied to the Purchaser on Declared Grade basis. The Seller shall raise such bills on rake-to-rake basis for delivery of Coal by rail and on daily basis for delivery of Coal by road and other modes of transport. Such bills shall be raised within seven (7) days of delivery.
12.1.2 The Purchaser shall pay in accordance with either of the following payment mechanisms –
(a) The Purchaser shall make advance payment for a month in three (3) installments for availing Coal supplies from the Seller – first (1st) installment on the first (1st) day of the month, second (2nd) installment on the eleventh (11th) day of the month and the third (3rd) installment on the twenty first (21st) day of the month. Each of these payment installments shall cover the As Delivered Price of Coal for the Coal quantities that is one-ninth (1/9th) of the QQ concerned, as per Clause 4.4. Further, each of these installments shall take into account the weighted average of Base Prices of Grades mentioned in Schedule III based on actual supplies of immediately available previous month. However, the third (3rd) installment shall also include the adjustment amount with regard to the actual quantity of Coal delivered pursuant to Clause 6 and the quality of Coal analysed pursuant to Clause
Bills on Declared Grade basis
12.1.1 The Seller shall raise bills for the Coal supplied to the Purchaser on Declared Grade basis. The Seller shall raise such bills on rake-to-rake basis for delivery of Coal by rail and on daily basis for delivery of Coal by road and other modes of transport. Such bills shall be raised within seven (7) days of delivery.
12.1.2 The Purchaser shall make payment in accordance with either of the following payment mechanisms:
(i) The Purchaser shall make advance payment against Monthly Scheduled Quantity, as per the payment schedule notified by the Seller which shall provide flexibility to the Purchaser to make payment of coal value in at least 3 (three) installments in a month against the said Monthly Scheduled Quantity. The consent in respect of rail programme(s) and/or order booking/allocation in case of road/other modes by the Seller shall be commensurate with the installments of payments made by Purchaser.
(ii) The Purchaser shall maintain with the Seller an Irrevocable Revolving Letter of Credit (“IRLC”) issued by a bank in a format acceptable to the Seller and fully conforming to the conditions to be stipulated as Schedule III for an amount equivalent to As Delivered Price of Coal for the Coal quantities that is one-ninth (1/9th) of the QQ concerned, as per Clause 4.
Bills on Declared Grade basis
11.1.1 The Seller shall raise source-wise bills for the Coal supplied to the Purchaser onDeclared Grade basis. The Seller shall raise such bills on rake-to-rake basis for delivery of Coal by rail and on daily basis for delivery of Coal by road and other modes of transport. Such bills shall be raised within seven (7) days of delivery.
11.1.2 The Purchaser shall pay in accordance with either of the following paymentmechanisms
(a) The Purchaser shall make advance payment for a month in three (3) installments for availing Coal supplies from the Seller – first (1st) installment on the first (1st) day of the month, second (2nd) installment on the eleventh (11th) day of the month and the third (3rd) installment on the twenty first (21st) day of the month. Each of these payment installments shall cover the As Delivered Price of Coal for the Coal quantities that is one-ninth (1/9th) of the QQ concerned, as per Clause
Bills on Declared Grade basis
10.1.1 The Seller shall raise bills for the Coal supplied to the Purchaser on Declared Grade basis. The Seller shall raise such bills on rake-to-rake basis for delivery of Coal by rail and on Truck basis for delivery of Coal by road and other modes of transport. Such bills shall be raised within seven (7) days of delivery.
10.1.2 The Purchaser shall make payment in accordance with either of the following payment mechanisms:
i. The Purchaser shall make advance payment against SQ, as per the payment schedule notified by the Seller. The consent in respect of rail programme(s) and/or order booking/allocation in case of road/other modes by the Seller shall be commensurate with the payments made by Purchaser.
Bills on Declared Grade basis
11.1.1 The Seller shall raise source-wise bills for the Coal supplied to the Purchaser on Declared Grade basis. The Seller shall raise such bills on rake-to-rake basis for delivery of Coal by rail and on daily basis for delivery of Coal by road and other modes of transport. Such bills shall be raised within seven (7) days of delivery.
11.1.2 The Purchaser shall pay in accordance with either of the following payment mechanisms
Bills on Declared Grade basis The Purchaser shall make payment in accordance with either of the following payment mechanisms:
(a) The Purchaser shall make advance payment against Monthly Scheduled Quantity, as per the payment schedule notified by the Seller which shall provide flexibility to the Purchaser to make payment of coal value in at least 3 (three) installments in a month against the said Monthly Scheduled Quantity. The consent in respect of rail programme(s) and/or order booking/allocation in case of road/other modes by the Seller shall be commensurate with the installments of payments made by Purchaser.
(b) The Purchaser shall maintain with the Seller an Irrevocable Revolving Letter of Credit (“IRLC”). issued by a bank in a format acceptable to the Seller and fully conforming to the conditions to be stipulated at SCHEDULE IV for an amount equivalent to As Delivered Price of Coal for the Coal quantities that is one-ninth (1/9th) of the QQ concerned, as per Clause 4.
