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04-006B Award
March 22, 2004

IFB No. GE-FINCA-FFP-04-006B
Booking Details as follows:

Vessel Owner: The Rice Company
Vessel: FULL CITY
Cargo: 15,000 MT Min/Max Bulk Wheat
Loading: 1/2 SB, 1/2 SP U.S. Gulf Excl Miss River
Laydays: March 27-April 5, 2004
Dem/Des: $20,000/HD
Frt Rate: $86.00 per MT basis 1/1 Load/Disch Port
Plus $6.00 Extra per MT for 2nd ldpt if used
All other terms pursuant tender terms.


04-006B Tender
March 9, 2004


Freight Tender: FINCA International - Food For Progress/Bulk Wheat to Georgia

UNIVERSAL SHIPPING CO., INC. AS AGENT FOR FINCA INTERNATIONAL REQUESTS OFFERS OF U.S. AND NON U.S. FLAG GEARED VESSELS (U.S. FLAG GEARLESS VESSELS WILL BE CONSIDERED PROVIDED OWNERS SUPPLY DISCHARGING EQUIPMENT AND GEAR TO EFFECTIVELY MAINTAIN DISCHARGE RATES STATED BELOW PER PROFORMA CHARTER PARTY AND FREIGHT TENDER TERMS) FOR THE CARRIAGE OF BULK WHEAT FINANCED UNDER THE FOOD FOR PROGRESS PROGRAM ON THE FOLLOWING BASIS:
1. IFB NO. GE-FINCA-FFP-04-006B
2. QUANTITY/LAYDAYS:
15,000 MT BULK WHEAT 
LAYDAYS: MARCH 27-APRIL 5, 2004 
OFFERORS SHOULD CONSIDER OFFERING VESSELS TO CARRY A RANGE OF TONNAGES IN THE EVENT THAT THE QUANTITIES PURCHASED ARE MORE OR LESS THAN THE QUANTITY STATED IN THIS TENDER. CONTRACTED QUANTITY TO BE ON A MIN/MAX BASIS.
OFFERS SUBMITTED UNDER THIS INVITATION ARE REQUIRED TO HAVE A CANCELING DATE NO LATER THAN THE LAST CONTRACT LAYDAY AS ABOVE, AND THE VESSELS WHICH ARE OFFERED WITH A CANCELING DATE BEYOND THE LAYDAYS SPECIFIED ABOVE WILL NOT BE CONSIDERED.
DUE TO URGENT NEED FOR CARGO IN GEORGIA, ALL OFFERS MUST STATE VESSELíS CURRENT POSITION AND ITINERARY WITH ETA BASIS LOADPORT.
IF CONTRACTED ON PART CARGO BASIS, OWNER IS TO PROVIDE ITINERARY OF VESSEL. ANY ADDITIONAL COMPLETION CARGO MUST BE STOWED IN SEPARATE HOLDS, MUST BE COMPATIBLE AND NON-INJURIOUS TO FINCAíS FOOD FOR PROGRESS WHEAT CARGO AND MUST BE DETAILED IN OFFER OR APPROVED BY CHARTERERS/USDA IF CONTRACTED AFTER FIXTURE OF FINCA CARGO. VESSEL'S ITINERARY AND GEOGRAPHIC PROXIMITY OF COMPLETION CARGO(ES) WILL BE TAKEN INTO CONSIDERATION BY CHARTERER/USDA IN APPROVAL OF SUCH PART CARGO(ES) IN ORDER NOT TO UNDULY IMPEDE DELIVERY OF FINCAíS FOOD FOR PROGRESS CARGO(ES) TO GEORGIA.
OWNERS TO PROVIDE 10 (TEN) DAYS PREADVICE OF VESSEL READINESS TO LOAD. THE 10 DAY PREADVICE MUST BE RECEIVED BY CHARTERER'S AGENT NO LATER THAN 11:00 AM (WASHINGTON DC TIME)ON THE BUSINESS DAY IT IS GIVEN. PREADVICE RECEIVED AFTER THAT TIME WILL COUNT AS RECEIVED ON THE NEXT BUSINESS DAY.
3. LOADING PORT/RANGE: 1/2 SAFE BERTHS EACH 1/2 SAFE U.S. PORT(S)OR CANADIAN TRANSHIPMENT POINTS. 
4. DISCHARGE PORT: 1/2 SAFE BERTHS POTI, GEORGIA
FOR YOUR INFORMATION ONLY AND WITHOUT GUARANTEE, PORT RESTRICTIONS ARE AS FOLLOWS:
POTI: -MAXIMUM ARRIVAL DRAFT 9.0 METERS
-MAXIMUM LOA 250 M
IT IS OWNERS SOLE RESPONSIBILITY FOR VESSEL MEETING ALL BERTH RESTRICTIONS AT THE DISCHARGE PORT(S). ANY LIGHTENING REQUIRED AS A RESULT OF VESSELíS FAILURE TO MEET BERTH RESTRICTIONS AT THE DISCHARGE PORT(S) IS FOR OWNERíS TIME, RISK AND EXPENSE.
5. TERMS:
(A) LOADING TERMS: THE CARGO IS TO BE LOADED ACCORDING TO BERTH TERMS
WITH CUSTOMARY DESPATCH AT THE AVERAGE RATE AS DELINEATED BELOW BASED ON VESSEL'S CONTRACTED QUANTITY. THE RATES ARE BASIS TONS OF 2,204.6 POUNDS PER WEATHER WORKING DAY OF 24 CONSECUTIVE HOURS, SUNDAYS AND HOLIDAYS EXCEPTED, EVEN IF USED. SATURDAYS PER BFC SATURDAY CLAUSE.
BULK CARRIERS:
VESSEL CONTRACTED QUANTITY LOADING GUARANTEE
========================= =================
0 - 9,999.99 MT 4,000 MT PER DAY
10,000-19,999.99 MT 5,000 MT PER DAY
20,000-29,999.99 MT 6,000 MT PER DAY
TANKERS:
VESSEL CONTRACTED QUANTITY LOADING GUARANTEE
========================= =================
0 - 9,999.99 MT 4,000 MT PER DAY
10,000-19,999.99 MT 5,000 MT PER DAY
20,000-29,999.99 MT 6,000 MT PER DAY
MULTIDECKERS: THE LOAD GUARANTEE SHALL BE 3,000 MT PER DAY.
LASH/SEABEE BARGES: THE LOAD GUARANTEE SHALL NOT APPLY.
(B) DISCHARGING TERMS: THE CARGO IS TO BE DISCHARGED, FREE OF RISK AND EXPENSE TO THE VESSEL (FREE OUT DISCHARGE), AT THE AVERAGE RATE OF 2,500 MT FOR BULK CARRIERS; 2,000 MT FOR TANKERS; AND 1,500 MT FOR MULTIDECKERS INCLUDING LINER VESSELS PER WWDSSHEX EIU. FOR LASH/SEABEE BARGES THE DISCHARGE GUARANTEE SHALL NOT APPLY.
(C ) DEMURRAGE/DESPATCH IS APPLICABLE AT LOAD AND DISCHARGE PORTS. OWNERS ARE TO SPECIFY DEMURRAGE/DESPATCH RATES IN THEIR OFFER. DESPATCH RATES MUST BE ONE-HALF OF DEMURRAGE RATES QUOTED.
(D) LAYTIME IS NON-REVERSIBLE.
-LAYTIME ACCOUNTS ARE TO BE SETTLED DIRECTLY BETWEEN OWNERS AND COMMODITY SUPPLIER(S) AT LOAD PORT(S). LAYTIME CALCULATION, OVERTIME AND TRIMMING TO BE IN ACCORDANCE TO ADDENDUM NO. 1 OF THE NORTH AMERICAN EXPORT GRAIN ASSOCIATION, INC. F.O.B. CONTRACT NO. 2 (REVISED AS OF AUGUST 1,1988) CLAUSES NOS.1-10 INCLUSIVE, (HEREINAFTER "N.A.E.G.A.") REGARDLESS OF TYPE OF VESSEL. FURTHER THE FOLLOWING MODIFICATIONS TO N.A.E.G.A. WILL APPLY: 
ANYWHERE THE WORD "BUYER" APPEARS, THE WORDS "VESSEL OWNER" SHOULD BE SUBSTITUTED IN ITS PLACE. UNDER NO CIRCUMSTANCES SHALL CHARTERERS OR CCC BE RESPONSIBLE FOR RESOLVING DISPUTES INVOLVING THE CALCULATION OF LAYTIME OR THE PAYMENT OF DEMURRAGE OR DESPATCH BETWEEN THE VESSEL OWNERS AND THE COMMODITY SUPPLIER(S). ANY/ALL DISPUTES BETWEEN VESSEL OWNERS AND THE COMMODITY SUPPLIER(S) ARISING OUT OF THIS CONTRACT RELATING TO THE SETTLEMENT OF LAYTIME ISSUES SHALL BE ARBITRATED IN NEW YORK SUBJECT TO THE RULES OF THE SOCIETY OF MARITIME ARBITRATORS, INC.
-DISCHARGE PORT LAYTIME ACCOUNTS ARE TO BE SETTLED DIRECTLY BETWEEN CHARTERER AND VESSEL OWNER. VESSEL OWNER IS TO PREPARE AND SUBMIT SIGNED DISCHARGE PORT LAYTIME STATEMENT TO CHARTERER'S AGENT, UNIVERSAL SHIPPING CO., INC. FOR APPROVAL WITHIN THIRTY DAYS OF COMPLETION OF DISCHARGE. DISCHARGE PORT NOTICE OF READINESS AND DISCHARGE PORT STATEMENT OF FACTS, BOTH SIGNED ON BEHALF OF CHARTERERS AND VESSEL OWNER ARE TO BE PRESENTED WITH SIGNED DISCHARGE PORT LAYTIME STATEMENT.
-UNDER NO CIRCUMSTANCES SHALL CCC BE RESPONSIBLE FOR RESOLVING DISPUTES INVOLVING THE CALCULATION OF LAYTIME OR THE PAYMENT OF DEMURRAGE OR DESPATCH BETWEEN CHARTERER AND THE VESSEL OWNER. ANY/ALL DISPUTES BETWEEN CHARTERER AND VESSEL OWNER ARISING OUT OF THIS CONTRACT RELATING TO THE SETTLEMENT OF LAYTIME ISSUES SHALL BE ARBITRATED IN NEW YORK SUBJECT TO THE RULES OF THE SOCIETY OF MARITIME ARBITRATORS, INC.
(E) PER CHARTERER'S PROFORMA C/P CLAUSE 63, OWNERS ARE REQUIRED TO PROVIDE AN ADDITIONAL NCB CERTIFICATION THAT VESSEL'S HATCH COVERS AND ANY OTHER OPENINGS LEADING TO CARGO COMPARTMENTS HAVE BEEN SEALED TO PREVENT ANY OUTSIDE WATER FROM ENTERING THE CARGO COMPARTMENTS.
(F) GEAR REQUIREMENTS
-VESSELS MUST BE CAPABLE OF SELF-DISCHARGE WITH VESSELíS ONBOARD GEAR OR OWNER SUPPLIED SHORESIDE GEAR (CRANES AND/OR SWINGING DERRICKS WITH MINIMUM 8 MT S.W.L. CAPACITY SUITABLE FOR CLAMSHELL DISCHARGE AND INCLUDING PROVISION OF CLAMSHELL) AND/OR WITH VACUVATORS INCLUDING ALL NECESSARY VACUVATOR PIPES AND SUPPORTS FOR PIPES AND/OR WITH MARINE LEGS INCLUDING ALL NECESSARY SUPPORT EQUIPMENT. OWNERS TO PROVIDE AT THEIR EXPENSE ALL NECESSARY MOTIVE POWER/FUEL TO OPERATE ALL DISCHARGE GEAR AND/OR VACUVATORS AS WELL AS TECHNICIANS IN THE CASE OF VACUVATORS AND MARINE LEGS TO OVERSEE THEIR OPERATION. DISCHARGE GEAR PROVIDED BY OWNER/VESSEL MUST BE CAPABLE OF MAINTAINING THE GUARANTEED AVERAGE DISCHARGE RATE AS SPECIFIED ABOVE. ANY TIME LOST AS A RESULT OF BREAKDOWN OF VESSELíS GEAR AND/OR VACUVATORS AND/OR MARINE LEGS TO BE EXCLUDED FROM LAYTIME USED. NOTICE OF VESSELíS READINESS TO DISCHARGE MAY NOT BE TENDERED BEFORE VESSEL IS FULLY EQUIPPED WITH DISCHARGE GEAR/EQUIPMENT. VESSEL AND DISCHARGING EQUIPMENT/GEAR MUST MEET ALL REQUIREMENTS/REGULATIONS OF THE APPLICABLE GEORGIAN PORT AUTHORITY.
-MECHANICAL OR HYDRAULIC HATCH COVERS FOR VESSELS OR RAIN TENTS FOR ALL HATCHES ARE REQUIRED. OPENING AND CLOSING OF HATCHES TO BE CARRIED OUT BY VESSEL'S CREW FREE OF CHARGE TO CHARTERERS. 
-VESSELS AND TUG/BARGE COMBINATION MUST HAVE ALL OPENINGS TO CARGO SPACES AND HATCHES' COVERS TIGHTLY SEALED WITH TAPE OR BY OTHER MEANS TO ASSURE WATER TIGHT INTEGRITY. THE SEALING SHALL BE DONE TO SATISFACTION OF ATTENDING NCB SURVEYOR AS ATTESTED BY A SPECIAL SURVEY. COST OF SEALING HATCH COVERS/OPENINGS TO CARGO SPACES AS WELL AS SPECIAL SURVEY FEES SHALL BE FOR VESSEL OWNER'S ACCOUNT.
SPECIAL SURVEY CERTIFICATE SHALL IN NO WAY DIMINISH OWNER'S LIABILITY AND RESPONSIBILITIES TOWARD THE CARGO.
6. VESSEL TYPE RESTRICTIONS: OCEAN GOING TOWED BARGES ARE EXCLUDED. 
7. LIGHTENING, IF REQUIRED, TO BE AT VESSEL OWNERS TIME RISK AND EXPENSE. 
LIGHTENING, IF REQUIRED, IS TO BE ACCOMPLISHED IN THE TERRITORIAL WATERS OF GEORGIA. LIGHTENING VESSEL(S) MUST MEET ALL TENDER AND APPROPRIATE PORT AUTHORITY REQUIREMENTS. COST OF LIGHTENING TO BE STIPULATED IN THE OFFER (REFER TO CLAUSE 66 OF PROFORMA C/P). IN THE EVENT LIGHTENING IS NOT PERFORMED AT THE DISCHARGE PORT, SAID LIGHTENING COSTS SHALL BE DEDUCTED FROM THE FREIGHT.
8. FREIGHT RATES TO BE QUOTED PER M/T VESSEL LOAD / FREE OUT DISCHARGE BASIS ONE LOADING PORT TO ONE DISCHARGING PORT, PLUS ADDITIONAL FREIGHT FOR EACH ADDITIONAL LOAD PORT AND/OR DISCHARGE PORT, IF USED, TO BE STATED SEPARATELY. OFFERS REQUIRING ADDITIONAL CHARGES FOR ADDITIONAL LOAD/DISCHARGE BERTH(S) WILL NOT BE CONSIDERED.
9. OFFERORS ARE ENCOURAGED TO INCLUDE ALL INFORMATION AS LISTED BELOW AND IN THE FORMAT AS FOLLOWS:
A. VESSEL NAME, FLAG, YEAR BUILT, VESSEL TYPE, DWT, HOLDS,
HATCHES(SIZES), GEAR, LOA, BEAM, SPEED, CLASS, OWNERS
NAME, SALT WATER ARRIVAL DRAFT AT DISPORT
B. CARGO
C. LOAD/DISCHARGE PORTS
D. LOAD/DISCHARGE RATES
E. LAYDAYS
F. ETA AT LOAD PORT
G. FREIGHT RATE PER MT AND ADDITIONAL FREIGHT FOR
ADDITIONAL PORT(S)
H. DEMURRAGE-DESPATCH
I. TRANSIT TIME AND PORTS OF CALL IN TRANSIT, IF ANY
J. COMMISSIONS
K. TERMS
L. REMARKS
M. NAME AND TELEPHONE NUMBER OF CONTACT PERSON.
10. ONLY OFFERS OF NAMED VESSELS WITH FULL PARTICULARS PROVIDED WILL BE
CONSIDERED.
11. NON-VESSELS OPERATING COMMON CARRIERS (NVOCC) MAY NOT BE EMPLOYED TO CARRY U.S. OR FOREIGN FLAG SHIPMENTS.
12. NON U.S. FLAG VESSELS MUST BE REGISTERED HIGHEST IN LLOYDS OR EQUIVALENT AND SHOULD NOT BE MORE THAN 15 YEARS OLD. DATE OF ORIGINAL CONSTRUCTION, NOT REBUILT DATE TO GOVERN.
13. AT THE DISCHARGE PORT AND UPON INSPECTION BY GOVERNMENT/RECEIVERS INSPECTORS, IF CARGO AND/OR VESSEL IS FOUND TO BE INFESTED, AND PROVIDED CLEAN BILLS OF LADING WERE ISSUED, FUMIGATION COSTS, IF ANY, ARE FOR OWNERS (VESSELS) ACCOUNT, AND TIME USED IS TO COUNT FOR U.S. FLAG VESSELS; AND NOT TO COUNT FOR NON U.S. FLAG VESSELS.
14. CARGO SHALL NOT BE LOADED INTO DEEP/WING TANKS AND OTHER SPACES WHICH ARE NOT DIRECTLY ACCESSIBLE TO GRAB DISCHARGE.
15. ANY EXTRA INSURANCE ON CARGO AND/OR FREIGHT DUE TO VESSELS AGE, CLASS, TYPE, FLAG, CONFIGURATION OR OWNERSHIP OF THE VESSEL IS TO BE FOR OWNERS ACCOUNT, BUT NOT TO EXCEED NEW YORK MARKET RATES FOR U.S. FLAG VESSELS AND LONDON MARKET RATES FOR NON U.S. FLAG VESSELS.
16. FOR U.S. FLAG VESSELS, OFFERS WILL NOT BE CONSIDERED IF THE VESSEL OPERATOR HAS NOT PROVIDED THE MARITIME ADMINISTRATION WITH THE VESSEL'S COST PRIOR TO SUBMISSION OF OFFER.
17. OFFERS OF U.S. FLAG VESSEL MUST GUARANTEE THAT APPROVED FREIGHT RATES WILL BE REDUCED TO A LEVEL NOT HIGHER THAN THE MARITIME ADMINISTRATION FAIR AND REASONABLE RATE IN THE EVENT THAT ORIGINALLY APPROVED VESSEL (INCLUDING TUG AND/OR BARGE)IS SUBSTITUTED BY A LOWER COST VESSEL.
FOR U.S. VESSELS LOADING LESS THAN A FULL CARGO, THE LESS THAN FULL CARGO, FREIGHT RATE WILL BE SUBJECT TO A REDUCTION TO MEET ANY REVISED MARITIME ADMINISTRATION FREIGHT RATE GUIDELINE DUE TO VESSEL LOADING OTHER ADDITIONAL CARGO.
18. U.S. FLAG VESSELS WHICH REQUIRE PRIOR APPROVAL FROM THE MARITIME ADMINISTRATION (MARAD) TO PARTICIPATE IN PREFERENCE CARGOES BECAUSE OF OPERATING DIFFERENTIAL SUBSIDY (DS) CONTRACTUAL CONSTRAINTS, OR BECAUSE OF REFLAGGING/ FOREIGN CONSTRUCTION ELIGIBILITY ISSUES MUST OBTAIN SUCH MARAD APPROVAL PRIOR TO SUBMISSION OF BIDS.
19. U.S. FLAG VESSELS OVER 15 YEARS OLD MUST OFFER AN ALTERNATIVE FREIGHT RATE TO BE APPLICABLE IN THE EVENT THE VESSEL IS EITHER SCRAPPED OR VESSEL OWNERSHIP IS TRANSFERRED TO ANOTHER OWNER AFTER DISCHARGE AT DESTINATION, BUT PRIOR TO ITS RETURN TO THE UNITED STATES.
20. VESSEL MUST BE ABLE TO BE FUMIGATED WITH AN ALUMINUM PHOSPHIDE PREPARATION IN-TRANSIT IN ACCORDANCE WITH THE USDA/FGIS FUMIGATION HANDBOOK AND VESSELS THAT CANNOT BE SO FUMIGATED WILL NOT BE CONSIDERED. AT FINAL LOADING PORT, COMMODITY SUPPLIER WILL ARRANGE AND PAY FOR IN-TRANSIT FUMIGATION PERFORMED BY A CERTIFIED APPLICATOR IN ACCORDANCE WITH THE USDA, FGIS FUMIGATION HANDBOOK. FUMIGATION MUST BE WITNESSED BY FGIS, USDA, AND THE ALUMINUM PHOSPHIDE PREPARATION MUST BE CONTAINED IN PACKAGING AS DESCRIBED IN THE FUMIGATION HANDBOOK. DUST RETAINERS MUST BE USED. FOR TWEENDECKERS AND BULK CARRIERS (INCLUDING PUSH-MODE ITB),
THE RECIRCULATION METHOD OF FUMIGATION WILL BE USED. FOR TANKERS, SURFACE APPLICATION WILL BE USED.
TWEEN-DECK VESSELS WILL BE CONSIDERED PROVIDED THEY ARE ACCEPTABLE FOR IN-TRANSIT FUMIGATION IN ACCORDANCE WITH FGIS FUMIGATION HANDBOOK. OFFERS OF SUCH TWEEN-DECK VESSELS MUST BE ACCOMPANIED BY A COPY OF A LETTER FROM FGIS, USDA, STATING THAT THE VESSEL CAN BE FUMIGATED UNDER THE FGIS IN-TRANSIT FUMIGATION PROCEDURES.
21. FURTHER DETAILS AND ADDITIONAL TERMS ARE SUBJECT TO THE TERMS AND CONDITIONS OF FINCAíS BULK WHEAT/GEORGIA/FOOD FOR PROGRESS PROFORMA CHARTER PARTY (FEBRUARY 2004) WHICH ARE AVAILABLE UPON REQUEST FROM UNIVERSAL SHIPPING CO.
22. PLEASE NOTE PROVISION IN CHARTER PARTY CLAUSE 46 REGARDING PAYMENT BY ELECTRONIC TRANSFER.
23. CHARTERERS RESERVE THE RIGHT TO ACCEPT OR REJECT ANY AND/OR ALL OFFERS.
24. ISM CODE: OWNERS GUARANTEE THAT THIS VESSEL COMPLIES FULLY WITH THE INTERNATIONAL SAFETY MANAGEMENT (ISM) CODE, IF REQUIRED,AND IS IN POSSESSION OF A VALID DOCUMENT OF COMPLIANCE AND SAFETY MANAGEMENT CERTIFICATE AND WILL REMAIN SO FOR THE ENTIRETY OF HER EMPLOYMENT UNDER THIS CHARTER PARTY. OWNERS ARE TO PROVIDE CHARTERERS WITH SATISFACTORY EVIDENCE OF COMPLIANCE IF REQUIRED TO DO SO AND TO REMAIN FULLY RESPONSIBLE FOR ANY AND ALL CONSEQUENCES RESULTING DIRECTLY OR INDIRECTLY FROM ANY MATTER ARISING IN CONNECTION WITH THIS VESSEL AND THE ISM CODE.
25. SUBSTANDARD VESSELS: SECTION 408 OF THE COAST GUARD AUTHORIZATION ACT OF 1998, PUBLIC LAW 105-383 (46 USC PARAGRAPH 2302(E)), ESTABLISHES EFFECTIVE JANUARY 1, 1999, WITH RESPECT TO NON-US FLAG VESSELS AND OPERATORS/OWNERS, THAT SUBSTANDARD VESSELS AND VESSELS OPERATED BY OPERATORS/OWNERS OF SUBSTANDARD VESSELS ARE PROHIBITED FROM THE CARRIAGE OF GOVERNMENT IMPELLED (PREFERENCE) CARGO(ES) FOR UP TO ONE YEAR AFTER SUCH SUBSTANDARD DETERMINATION HAS BEEN PUBLISHED ELECTRONICALLY. AS THE CARGO ADVERTISED IN THIS IFB IS A GOVERNMENT IMPELLED (PREFERENCE) CARGO, OFFERORS MUST WARRANT THAT VESSEL(S) AND OWNERS/OPERATORS ARE NOT DISQUALIFIED TO CARRY SUCH GOVERNMENT IMPELLED (PREFERENCE) CARGO(ES).
26. A BROKERAGE COMMISSION IS PAYABLE BY OWNERS ON GROSS FREIGHT, DEADFREIGHT, AND DEMURRAGE. TWO-THIRDS OF 2.5 PERCENT TO BE PAID TO UNIVERSAL SHIPPING AND ONE-THIRD OF 2.5 PERCENT TO BE PAID TO OWNERS' BROKER, IF OWNER'S BROKER IS INVOLVED IN THE VESSEL FIXTURE, OR A FULL 2.5 PERCENT TO BE PAID TO UNIVERSAL SHIPPING IF THE VESSEL FIXTURE IS ARRANGED WITHOUT OWNERS' BROKER.
27. OFFERS ARE TO BE RECEIVED BY SEALED LETTER, OR BY FAX NO. 703-522-9417 AT UNIVERSAL SHIPPING CO., 2300 CLARENDON BLVD., SUITE 1004, ARLINGTON, VA 22201 NO LATER THAN 1100 HOURS WASHINGTON, D.C. TIME MONDAY, MARCH 15, 2004 AND ALL OFFERS MUST REMAIN VALID THROUGH CLOSE OF BUSINESS WASHINGTON, D.C. TIME WEDNESDAY, MARCH 17, 2004. 
IF A FAX OFFER IS CONNECTED TO OUR FAX MACHINE BEFORE 1100 HRS WASHINGTON, D.C. TIME, ACCORDING TO TIME AS PRINTED ON OFFER (BASED ON EASTERN STANDARD/EASTERN DAYLIGHT SAVING TIME, AS APPROPRIATE) AND CONTINUES TRANSMITTING PAST 1100 HOURS UNTIL COMPLETION, CHARTERERS WILL CONSIDER THE OFFER AS IF IT HAD COMPLETED TRANSMITTING BEFORE 1100 HOURS, HOWEVER, CHARTERERS WILL NOT CONSIDER ANY FAX OFFER WHICH CONNECTS TO OUR FAX MACHINE AFTER 1100 HOURS.
U.S. AND FOREIGN FLAG OFFERS WILL BE OPENED AND READ IN PUBLIC AT THAT PLACE AND TIME. 
NO PHONE OFFERS WILL BE ACCEPTED. 
ONLY OFFERS WHICH ARE RESPONSIVE TO THIS IFB WILL BE CONSIDERED AND NO NEGOTIATION IS PERMITTED. 
OFFERS "SUBJECT OPEN" WILL BE CONSIDERED PROVIDED SUBJECT IS LIFTED BY LATEST 1100 AM TUESDAY, MARCH 16, 2004.

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