Description
To begin purchase negotiation, we ask the Buyer that strictly follows the Sale Procedures Contract CIF ASWP below:
1. The Buyer issues ICPO (Irrevocable Corporate Purchase Order) duly signed on Buyer letterhead and RWA (Ready Willing and Able) Letter as POF (Proof of Funds), signed by two of Buyer’s bank officers complete with the following compliance documents including:
a. Letter of Intent (LOI)
b. Client Information Sheet (CIS)
c. Buyer's Certificate of Incorporation (COI)
d. Corporate Resolution (CR)
e. Non-Circumvention and Non-Disclosure Agreement (NCND)
2. Seller / Exporter issues FCO (Full Corporate Offer).
3. The Buyer returns signed and stamped FCO.
4. The Seller issues the draft SPA (Sale and Purchase Agreement) .
5. Buyer returns draft of signed, stamped and scanned SPA by e-mail and will be considered legal and official SPA until copies of original are exchanged.
6. The Seller issues Commercial Proforma Invoice.
7. The Buyer returns the stamped and signed Commercial Proforma Invoice and submits draft of LC/DLC.
8. The Seller returns the above bank instrument with possible changes.
9. The Buyer’s bank issues LC / DLC (MT 700/760) as a guarantee for one month and sends it to the Seller’s bank within 5 days. The bank instrument must be Irrevocable, Transferable, Divisible, Operational, Renewable and Revolving for each shipment against Shipping Documents, confirmed by one of the First Class bank. Cash payment by MT 103 according to presentation of shipping documents B / L + SGS (Bill of Lading + SGS Inspection Report)
10. Following the open banking instrument, the Seller’s bank sends the Buyer’s bank a 2% PB (Performance Bond) in the amount of a remittance and a POP (Proof of Product) within 5 days.
11. Within 15/25 days the ship will be loaded.
12. Payment against B/L and SGS shipping documents, as per item 9.
13. Ship’s release.
NOTES:
* The conclusion of the transaction is possible exclusively according to the CIF ASWP Procedure, whereby the Buyer must indicate the port of discharge and take care of the storage capacity himself.
*Referring to item 3, the submission of BCL or RWA as POF (Proof of Funds) is indispensable to continue trading.
*All submitted documents must be issued on stamped letterhead, signed by the CEO and in PDF format.
*Documents such as LOI / ICPO will only be reviewed and accepted if they meet the Seller’s requirements, such as: Form of payment, Warranty form, Target Price (As available), Bank (First Class bank), And other information.
The business in question requires appropriate qualifications and consistency, which is why we include representatives of all participants in the process from the very beginning (especially both the seller's and the buyer's banks).
If you have any concerns or questions, don't hasitate to ask. We will try to respond in the best possible way in the shortest possible time. Basic information can be exchanged by phone, but for sake of transparency, correspondence and proper processing of information in mutual communication, we suggest that all coordination be done in writing via e-mail.
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