PROCEDURES FOR RICE PROCESSING ORDERS

Non-negotiable Procedures for processing Orders:

Rice Authority follows a proven procedure which we believe is fair to both the
Buyer and the Seller and we will not deviate from it.
We act as a facilitator/mandate introducing REAL Buyers to REAL Suppliers.
Initially we negotiate the terms and procedures with the Buyer to achieve an
acceptable LOI, with every detail correct as required by the Supplier. We may
have to ask you to make minor amendments to your initial LOI to reach this
position. It should be noted that all LOI or ICPO should be on Buyers letterhead
and have complete details of the Buyers requirements including full banking
coordinates and details of his Confirming Bank. This will include details of the
product and specification required, total quantity and period of delivery,
destination port, target price per metric ton and validity of the LOI in days after
being issued. Once acceptable LOI and BCL are received, we will pass the deal
over to a selected Supplier and/or Manufacturer who will then contract direct with
you, the end Buyer.
Please note our non-negotiable procedure:
1. In response to the Buyers initial enquiry, we provide a Soft Offer for the
Buyers consideration.
2. The Buyer issues an Irrevocable Corporate Purchase Order (ICPO) or an
Irrevocable Letter Of Intent (LOI).
3. The Buyer issues a BCL detailing the contracted quantity, contract value and
monthly revolving amount and confirming the Buyers ability to finance the deal.
4. The Seller issues a Full Corporate Offer (FCO) to the Buyer.
5. The Buyer signs and seals approval of the FCO and returns.
6. The Seller issues a draft Contract to the Buyer.
7. The Buyer will electronically sign and seal the revised draft Contract and
return to the Seller via email, in Word Format
8. The Seller reviews and confirms any changes made in the draft contract by the
Buyer. If the Seller agrees to the changes made by Buyer, the Seller issues the
final binding contract via email, in Word Format.
9. The Buyer returns the final agreed contract duly initialled, signed and sealed
via email, in Word Format.
10. The Seller will then electronically seal or scan the fully signed, sealed and
initialled Contract and email the Soft Copies to the Buyer.
11. The Buyer immediately after the return of the final agreed Contract to the
Seller, sends to the Seller by email the draft verbiage of the payment instrument
(FFBG, FFSBLC or L/C) as provided by the Buyers Bank for the Sellers approval.

12. The Seller will issue to the Buyer four (4) original Hard Copies of the
contract via courier to Buyers address as stated in the contract.
13. Immediately upon receiving the Sellers signed and sealed Hard Copies of
the contract via courier the Buyer will personally sign and seal the 4 Hard Copies
and immediately return two (2) originals by courier to the Seller.
14. Once the Seller approves the payment instrument verbiage, the Buyers Bank
then sends a SWIFT Pre-advice to the Sellers Bank, along with the approved
verbiage of the payment instrument, advising that they are ready to proceed with
the transaction
15. Having confirmed with the Seller that the verbiage is acceptable, the Sellers
Bank then advises the Buyers Bank through a SWIFT Letter of Readiness that it is
ready to accept their non-operative payment instrument. Buyer and Seller
exchange POP (Proof of Product) for non-operative L/C.
16. The Seller will, within 5 working days of receipt of an acceptable operative
payment instrument, issue Bank to Bank a Performance Bond two percent (2%) of
the confirmed value of each shipment.
17. Shipping of the Goods will commence within thirty (30) to forty-five (45) days
from date of Sellers receipt of the acceptable operative payment instrument.

Rice Authority offered payment method can greatly affect the price offered by the
Seller; the more secure the payment the cheaper the price. Sellers are looking
for more security in payment and because of high percentage of drop outs paying
by ordinary DLC. Very few sellers will offer this payment option anymore. Our
minimum payment option is IRDLC revolving for one months shipment value.
For larger contracts the seller is looking for one months shipment value held by
the Seller as surety against the buyer dropping out.
So what does all that mean? In the past a buyer would contract a quantity say
up to 12 times more than the quantity they actually required; they pay for 1 or 2
shipments and then drop out; after having obtained the benefit of a price offered
for the much larger quantity. Also buyers would drop out of a contract because
they had since found a seller with a cheaper price.
Payment options can vary with the commodity, such as sugar, where
payment may bemandatory by FFBG with some sellers. Our payment options
will be clearly outlined in our Soft Offers.
OUR PAYMENT OPTIONS
Note all payments must be Confirmed by Top 50 Prime World Bank; please check
our website for latest Top 50 list.
Confirmed, Irrevocable Letters of Credit give the seller the greatest protection,
since sellers can rely on the commitment of two banks to make payment. The
confirming bank will pay even if the issuing bank cannot or will not honour the

draft for any reason whatever. In accordance with the additional risk assumed
by the banks, however, confirmed, irrevocable Letters of Credit are more
expensive than unconfirmed Letters of Credit.
Here are several payment option preferred by our Sellers:

IRDLC - Payment by Irrevocable, Transferable, Auto-Revolving for one

months shipment value, Documentary Letter of Credit, Confirmed by Top
50 Prime World Bank, 100%at sight Port of Loading.

FFDLC (assured for 6 month contract value) Payment by Fully Funded,

Irrevocable, Transferable, Auto-Revolving for one months shipment value,
Documentary Letter of Credit, Confirmed by Top 50 prime world bank 100%
at sight Port of Loading

Basically with this payment there is an LC opened for 6 months value that is
guaranteed by the Buyers bank for that amount. In the fifth month, there is
another 6 month LC opened for the last batch of shipments. However, the
payments are still paid one month at a time, but the LC is guaranteed for 6
months value.

FFDLC (assured for full 12 month contract value) Payment by Fully

Funded, Irrevocable, Transferable, Auto-Revolving for one months
shipment value, Documentary Letter of Credit, Confirmed by Top 50 prime
world bank 100% at sight Port of Loading.

This LC is guaranteed by the Buyers bank for the full contract value.

IRDLC + BG Unconditional Bank Guarantee for one months shipment

value held as security for payment and then monthly payments by
Irrevocable, Transferable, Auto-Revolving for one months shipment value,
Documentary Letter of Credit, Confirmed by Top 50 Prime World Bank,
100%at sight Port of Loading.

IRDLC + BG (3 month) Payment by Irrevocable, Transferable, Bank

Guarantee for 3 month value to be held by the Seller as security for
payment. This Bank Guarantee will be returned to the Buyer at the end of
the contract period unencumbered. Each Shipment shall be paid for via
Telegraphic Transfer within 24 hours of receiving the shipping documents.
This Irrevocable, Transferable 3 month Bank Guarantee should be
issued,Confirmed and Guaranteed by Top 50 Prime World Bank acceptable
to the Seller.

FFSBLC - Payment by Irrevocable, Fully Funded, Revolving Stand-by Letter

of Credit for the total value of the goods with one month face value. The
Irrevocable Revolving Stand-by Letter of Credit should be
issued, Confirmed and Guaranteed by a Top 50 Prime World
Bank acceptable to the Seller.

BG or FFBG - Payment by Bank Guarantee Confirmed by Top 50 Prime

World Bank.

The Buyers bank is guaranteeing the funds for the full contract value, therefore
with payment by BG means the buyer has the money sitting in an account,
pledged that is why it is called Bank Guarantee.
There are other acceptable payment methods and also variations of these
payment methods above applicable to certain commodities that we may accept,
however these will be advised in our Soft Offers.
Please clearly define your preferred payment when making your application for
quotation.
PLEASE NOTE: We always require a BCL (Bank Comfort Letter) to confirm buyers
ability to make the necessary payments, provided along with the LOI or ICPO.
Whilst permission for a Soft Prove which may be offered in the LOI is nice, it is not
recognition of a commitment to the contract in hand. A BCL should list a
description of the goods, the quantity, the total contract value and the monthly
revolving amount etc. expressed in US Dollars. Also as payment is Confirmed by
a Top 50 Prime World Bank this is virtually a guarantee of such payment as
outlined.
BCL with bank disclaiming any responsibility is totally unacceptable.
If a buyer will not provide a BCL it is an indication that he cannot finance the deal
and/or the deal is not Confirmed by Top 50 Bank as required.
Myanmar Rice Prices

Emata 5% Broken Rice 6.5 mm IRRI Polish $446.30 Per Metric Ton.

Emata 10% Broken Rice 6.5 mm IRRI Polish $422.80 Per Metric Ton.

Emata 15% Broken Rice 6.5 mm IRRI Polish $407.40. Per Metric Ton.

Emata 25% Broken Rice 6.5 mm IRRI Polish $373.80. Per Metric Ton.

Paw San Super 100% Polish $833.50 Per Metric Ton.

Emata Super 100% 6.5 mm IRRI Polish $539.30 Per Metric Ton.

Sinthwe Super 100% 6.8 mm IRRI Polish $688.20 Per Metric Ton.

FOB from port Yangon or Pathine

Cambodia Rice Prices

Jasmine Rice (Organic fragrant rice Neang Malis) $970 Per Metric Ton

Jasmine Rice 5% Broken Rice Sorted & Double Polished $930 Per MT

Ginger Rice 5% Broken Rice Sorted & Double Polished $690 Per MT

Neang Minh Rice 5% Broken Rice Sorted & Double Polished $580 Per MT

Jasmine Rice 100% Broken Rice $550 Per MT

White Rice 5% Broken Rice $560 Per Metric Ton

White Rice 15% Broken Rice $540 Per Metric Ton

White Rice 25% Broken Rice $520 Per Metric Ton

White Broken Rice 100% Broken Rice $440 Per MT

Vietnam Rice Prices

White long grain 5% broken US$ US$ 428 / MT

White long grain 25% broken US$ 405 / MT

White long grain 100% broken US$ 350 / MT

White medium grain 5% broken US$ 610 / MT

Fragrant grain 5% broken US$ 665 / MT

Japonica type rice US$ 860 / MT

Jasmine Rice 5% Broken US$ 595 / MT

Glutinous Rice 10% Broken US$ 695 / MT

All prices are based FOB, HCMC Port, shipload

Thailand Rice Prices

Thai Hom Mali Rice ( Thai Basmati Rice ) Grade A (53/54) $1115 Per Metric
Ton.

Thai Hom Mali Rice Grade A (54/55) $1097 Per Metric Ton.

Thai Hom Mali Fragrant Rice 100% single polish $1090 Per Metric Ton

Thai Hom Mali Fragrant Rice 100% single polish $1080 Per Metric Ton

Thai Hom Mali Broken Rice A.1 Super $594 Per Metric Ton.

Thai Pathumthani Fragrant Rice $928 Per Metric Ton.

White Rice 100% Grade B $565 Per Metric Ton.

White Rice 5% $549 Per Metric Ton.

White Rice 25% $544 Per Metric Ton.

White Broken Rice A.1 Super $532 Per Metric Ton.

White Glutinous Rice 10% $915 Per Metric Ton.

Parboiled Rice 100% $575 Per Metric Ton.

Thai Red Rice FOB $905 Per Metric Ton.

FOB Prices quoted include a single white woven polypropylene (PP) bag each of
50 kg.
India Rice Prices

Sarna Parboiled Rice 10% broken $395 Per Metric Ton

IR 8 , 16, 32, 64. Rice:- $530 Per Metric Ton

PUSA Rice: $840 Per Metric Ton

1121 Rice:- $1000 Per Metric Ton

BASMATI Rice: $1000 Per Metric Ton

Non Basmati Organic rice $1000 Per Metric Ton CIF to any sea port in
your country.

BPT-5204 ( Samba Mahsuri/Sona Mahsuri) superfine rice Price Upon

Request

LONG GRAIN PARBOILED RICE 5% BROKEN USD 450 PER METRIC TON

LONG GRAIN PARBOILED RICE 10% BROKEN USD 445 PER METRIC TON

LONG GRAIN PARBOILED RICE 15% BROKEN USD 440 PER METRIC TON

LONG GRAIN PARBOILED RICE 20% BROKEN USD 435 PER METRIC TON

LONG GRAIN PARBOILED RICE 25% BROKEN- USD 430 PER METRIC TON

LONG GRAIN PARBOILED RICE 30% BROKEN USD 425 PER METRIC TON

LONG GRAIN PARBOILED RICE 35% BROKEN USD 420 PER METRIC TON

LONG GRAIN RAW WHITE RICE 5% BROKEN USD 430 PER METRIC TON

LONG GRAIN RAW WHITE RICE 10% BROKEN USD 425 PER METRIC TON

LONG GRAIN RAW WHITE RICE 15% BROKEN USD 420 PERMETRIC TON

LONG GRAIN RAW WHITE RICE 20%BROKEN USD 415 PER METRIC TON

LONG GRAIN RAW WHITE RICE 25%BROKEN- USD 410 PER METRIC TON

Basmati 1121 Golden Rice $840 Per Metric Ton

Basmati 1121 Creamy Rice $820 Per Metric Ton

Basmati Pusa Creamy Rice $740 Per Metric Ton

Basmati Pusa Golden Rice $760 Per Metric Ton

White Long Grain Rice with 5% broken $460 Per Metric Ton

White Long Grain Rice with 25% broken $415 Per Metric Ton

Basmati 1121 Sella Rice Price Upon Request

Basmati 1121 Golden Rice Price Upon Request

Basmati 1121 Steam Rice Price Upon Request

Basmati Pusa Sella Rice Price Upon Request

Basmati Pusa Golden Rice Price Upon Request

Basmati Pusa Steam Rice Price Upon Request

Basmati IR-64 Sella Rice Price Upon Request

Long GRAIN WHITE RICE 5-25% BROKEN Price Upon Request

SHARBATI SELLA RICE Price Upon Request

NR-106 SELLA RICE Price Upon Request

NR-11 SELLA RICE Price Upon Request

PARIMAL RICE. Price Upon Request

PARBOILED RICE Price Upon Request

Pakistan Rice Prices

LONG GRAIN PARBOILED RICE 5% BROKEN USD 475 PER METRIC TON

LONG GRAIN PARBOILED RICE 10% BROKEN USD 470 PER METRIC TON

LONG GRAIN PARBOILED RICE 15% BROKEN USD 465 PER METRIC TON

LONG GRAIN PARBOILED RICE 20% BROKEN USD 460 PER METRIC TON

LONG GRAIN PARBOILED RICE 25% BROKEN- USD 450 PER METRIC TON

LONG GRAIN PARBOILED RICE 30% BROKEN USD 430 PER METRIC TON

LONG GRAIN PARBOILED RICE 35% BROKEN USD 425 PER METRIC TON

LONG GRAIN PARBOILED RICE 100% BROKEN USD 355 PER METRIC TON

LONG GRAIN RAW WHITE RICE 5% BROKEN USD 465 PER METRIC TON

LONG GRAIN RAW WHITE RICE 10% BROKEN USD 460 PER METRIC TON

LONG GRAIN RAW WHITE RICE 15% BROKEN USD 455 PERMETRIC TON

LONG GRAIN RAW WHITE RICE 20%BROKEN USD 445 PER METRIC TON

LONG GRAIN RAW WHITE RICE 25%BROKEN- USD 435 PER METRIC TON

LONG GRAIN RAW WHITE RICE 100%BROKEN- USD 350 PER METRIC TON

Super Kernel Basmati Rice Silky Double Polished, Max. 1% Broken, Color
Sortexed $950 Per Metric Ton.

Super Kernel Par-boiled Basmati Rice (Sella) Silky Double Polished, Max. 1%
Broken, Color Sortexed $1050 Per Metric Ton.

Long Grain PK-385/D98 Basmati Rice Silky Double Polished, Max. 1%

Broken, Color Sortexed $750 Per Metric Ton.

Long Grain IRRI-9 Par-boiled Rice Silky Double Polished, Max. 5% Broken,
Color Sortexed $550 Per Metric Ton.

Long Grain Par-boiled IRRI-6 Rice Silky Double Polished, Max. 5% Broken,
Color Sortexed $460 Per Metric Ton.

Long Grain IRRI-6 Rice Silky Double Polished, Max. 5% Broken, Color
Sortexed $450 Per Metric Ton.

Long Grain IRRI-6 Rice Single Polished, Max. 25% Broken $380 Per Metric
Ton.

100% Broken Rice Silky Double Polished, Color Sortexed $360 Per Metric
Ton.

All Prices are Basis FOB KARACHI, Packed in Standard 50KGs nett Jute/PP Bags.
Brazil Rice Prices

5% Broken Rice U$ 550 Per Metric Ton.

10% Broken Rice U$ 540 Per Metric Ton.

15% Broken Rice U$ 525 Per Metric Ton.

Parboiled Rice U$ 550 Per Metric Ton.

Paddy Rice U$ 324 Per Metric Ton.

USA Rice Prices

5% Broken Rice U$ 530 Per Metric Ton.

10% Broken Rice U$ 515 Per Metric Ton.

15% Broken Rice U$ 505 Per Metric Ton.

Parboiled Rice U$ 600 Per Metric Ton.

Paddy Rice U$ 280 Per Metric Ton.

Paraguay Rice Prices

Long grain parboiled rice 7,5% of broken U$470,00 Per MT

Long grain White 7,5% of broken U$ 470,00 Per MT