Specifications:
1. LOI along with the passport copy of the person signing the SPA
2. FCO by seller
3. Signed FCO along with ICPO by buyer
4. SPA signed by the seller & buyer
5. Invitation letter from the seller for warehouse inspection
6. Buyer inspection along with BCL by buyer’s bank
7. Warehouse sealed by the buyer
8. Documents by seller
9. Payment by MT103 by buyer
10. Material movement as per shipping terms
Penalty Clauses:
1. Failure by the seller to deliver the product as agreed will result in a penalty to be paid by the seller
to the buyer with a value corresponding to 5% of the value the delivery.
2. Failure by the buyer to pay the product as agreed will result in a penalty to be paid by the buyer to
the seller with a value corresponding to 5% of the value the delivery.
3. Failure will also permit the damaged party to cancel the contract if so chosen.
