METAL EXCHANGE INTERNATIONAL (MEI) IS INCORPORATED IN SWITZERLAND. MEI VERBALLY AGREES TO SELL TO GRAAHAK (G), A CONSUMER IN JAMNAGAR, INDIA, 3 CONTAINERS OF COPPER SCRAP WIRE. THE AGREEMENT IS CONFIRMED BY EMAIL FROM MEI TO G WITH THE TERMS NOTED AS:

MATERIAL: BERRY, A TERM CLOSELY DEFINED BY THE INTERNATIONAL SCRAP RECYCLERS INSTITUTE (ISRI) FOR THIS PRODUCT, THE GLOBAL INDUSTRY STANDARD.

DELIVERY: CIF MUNDRA, THE NORTHWEST INDIAN PORT IN THE GULF OF KACHCHH.

SHIPMENT: DURING JULY, DEFINED AS THE ON BOARD BILL OF LADING DATE AT PORT OF SHIPMENT. PARTIAL SHIPMENTS TO BE ALLOWED.

PRICE: 90% OF THE LONDON METAL EXCHANGE (LME) AVERAGE COPPER CASH PRICE FOR THE MONTH PRIOR TO SHIPMENT, MEANING JUNE. THE FINAL PRICE FOR THE PRODUCT WILL THUS BE KNOWN PRIOR TO ACTUAL SHIPMENT OCCURING.

PAYMENT: 20% OF THE LME COPPER CASH CLOSING PRICE ON THE CONTRACT DATE BY OVERNIGHT WIRE TRANSFER. BALANCE OF PAYMENT BY FULL AT-SIGHT IRREVOCABLE NON-TRANSFERABLE LETTER OF CREDIT TO BE RECEIVED WITHIN 5 BUSINESS DAYS.

MEIS BANK UBS IS ESTABLISHED AS THE ADVISING BANK ON THE L/C. G OPENS THE L/C AT THE BANK OF BARODA, GUJARAT BRANCH.

MEI SOURCES THE 3 CONTAINERS OF PRODUCT FROM SCRAP GENERATORS IN:

1. BARCELONA, SPAIN, SHIPPED ON A GREEK OWNED, LIBERIAN FLAGGED VESSEL. THE VESSEL IS INSURED BY LLOYDS OF LONDON.
2. NEW ORLEANS, U.S.A., SHIPPED ON ZIM LINES, ISRAELI OWNED AND FLAGGED. VESSEL INSURED IN TEL AVIV.
3. DOHA, QATAR, SHIPPED ON KOREAN OWNED AND FLAGGED HANJIN LINES. VESSEL INSURED IN HONG KONG.

CONTRACTUALLY MEI PUTS THE FOLLOWING IN PLACE TO SUPPORT THE DEAL:

SALES CONTRACT TO G.

THREE PURCHASE CONTRACTS, EACH CALLING FOR FAS WITH CAD PAYMENT TERMS.

THREE UNDERLYING SHIPPING CONTRACTS WITH THE STEAMSHIP LINES.

CONTRACT WITH ZURICH GROUP, SWITZERLAND, FOR CARGO INSURANCE AT 110% OF INVOICE VALUES FOR THE THREE SEPARATE SHIPMENTS.

ALL MEI CONTRACTS ARE WRITTEN UNDER SWISS LAW, REQUIRING DISPUTES TO BE SETTLED BY BINDING ARBITRATION IN LONDON.

Having read the above contract, what are three [3] concerns that you have for what could go wrong?