1. Buyer issues
ICPO to Seller via Seller's mandate with right for soft probe. NCNDA/MFA
Attached.
2. Seller
confirms receipt of LOI/BCL or ICPO from Buyer.
3. Seller,
through his mandate, issues FCO to Buyer
4. Confirms FCO,
Countersigns and returns signed FCO to Seller accepting terms/conditions.
5. Seller issues
draft contract open for amendments.
6. Buyer confirms
and Seller signs and returns to Buyer for signing.
7. Buyer signs
and returns signed copies to Seller.
8. Buyer's bank
issues Irrevocable, Revolving, Transferable, Confirmed SBLC or BG from a prime
bank of 100% shipment value payable at sight (Buyer's bank will transmit SBLC
or BG by SWIFT to Seller's bank, and Buyer will send his "Customer's Copy"to
Seller through his mandate)
9. After 7
banking days of receipt of SBLC or BG by Seller's bank, Seller issues POP, Bank
to Bank.
10. Seller issues
2% Performance Bond.
11. Delivery commence as scheduled.
Procedure (Spot)
Procedures:
1. ICPO or LOI, with RWA
2. FCO from Seller
3. Contract Drafted
4. Bank to Bank
Simultaneous POP/POF
5. Contract Ratified
6. Delivery Schedule
activated.
2. Once allocation is reserved, we provide the SELLER´S NAME to the BUYER.
3. Buyer issues ICPO with Full Soft Probe capabilities in the name of the Seller. (ICPO should be pre-prepared pending addition of Seller's name and Buyer's seal).
4. Once received, NCNDA / IMFPA will be completed and submitted along with the ICPO to the Seller.
5. Seller's procedures as detailed below.
1. BUYER returns completed and signed BLANK NCNDA / IMFPA to freeze the allocation
2. Once allocation is reserved, we provide the SELLER´S NAME to the BUYER.
3. Buyer issues ICPO with Full Soft Probe capabilities in the name of the Seller. (ICPO should be pre-prepared pending addition of Seller's name and Buyer's seal).
4. Once received, NCNDA / IMFPA will be completed and submitted along with the ICPO to the Seller.
5. Seller's procedures as detailed below.
SELLER'S PROCEDURES (From Sanitized Soft Corporate Offer attached)
1- Buyer issue an ICPO (Irrevocable Corporate Purchase Order) with full Banking information, granting permission to Seller to conduct Soft-Probe.
2- Seller issues and sends Draft Contract to the Buyer.
3- Buyer reviews the Draft Contract, if necessary, makes modification, counter signs and return it to Seller.
4- Buyer and Seller sign and exchange Final Contract.
5- Buyer and Seller with banks agree on the text for the RDLC
6- Seller provides a partial POP to Buyer.
7- Buyer's Bank issues Pre-advice of RDLC.
8- Seller issues full POP documents to Buyer through bank to bank.
9- Buyer issues non-operative 100% Irrevocable, TRANSFERABLE Revolving DLC of buyer's choice to Seller's bank.
10- Seller's Bank issues 2% PB to the Buyer Bank for product cost and activates RDLC.
11- Seller shall issue the first cargo delivery confirmation and date.
1. BUYER returns completed and signed BLANK NCNDA / IMFPA to freeze the allocation
2. Once allocation is reserved, we provide the SELLER´S NAME to the BUYER.
3. Buyer issues ICPO with Full Soft Probe capabilities in the name of the Seller. (ICPO should be pre-prepared pending addition of Seller's name and Buyer's seal).
4. Once received, NCNDA / IMFPA will be completed and submitted along with the ICPO to the Seller.
5. Seller's procedures as detailed below.
SELLER'S PROCEDURES (From Sanitized Soft Corporate Offer attached)
1- Buyer issue an ICPO (Irrevocable Corporate Purchase Order) with full Banking information, granting permission to Seller to conduct Soft-Probe.
2- Seller issues and sends Draft Contract to the Buyer.
3- Buyer reviews the Draft Contract, if necessary, makes modification, counter signs and return it to Seller.
4- Buyer and Seller sign and exchange Final Contract.
5- Buyer and Seller with banks agree on the text for the RDLC
6- Seller provides a partial POP to Buyer.
7- Buyer's Bank issues Pre-advice of RDLC.
8- Seller issues full POP documents to Buyer through bank to bank.
9- Buyer issues non-operative 100% Irrevocable, TRANSFERABLE Revolving DLC of buyer's choice to Seller's bank.
10- Seller's Bank issues 2% PB to the Buyer Bank for product cost and activates RDLC.
11- Seller shall issue the first cargo delivery confirmation and date.
