Hartalega COATS
Production Line (Via Allocation Holder)
LOI mention price: $7.50 FOB Malaysia
MOQ: 20 Mil
Delivery schedule: 2 Mil/Month
Payment : Escrow
SOP Process:
1) Buyer send in LOI and POF address to allocation holder/agent
2) Buyer and Seller Quota Holders, Lawyers, Mandates, Intermediaries sign NCNDA & IMFPA Commissions agreements.
3) Buyer send ICPO and Seller issues SPA to Buyer to sign
4) Seller issues Verification Documents to be signed as well
5) Setting up / Using existing ESCROW facilities.
6) Escrow Agreement signing between Sellers Lawyer and Buyers Lawyer. (all document will be shown from seller lawyer to buyer lawyer)
7) Release of original Hartalega Factory Proforma Invoice from Seller Lawyer side to Buyers Lawyer within escrow account
8) Buyer Depositing 100% Cash into Escrow account. Payments to be jointly issued by both Seller and Buyers Lawyers accordingly to all parties involved.
9) Joint Release of both Seller and Buyers Lawyers of 50% Upfront Production Payment to:
- Factory
- Distributors
- Brokers
10) Balance 50% Payment to be release by both Seller and Buyers Lawyers upon successful completion of production and SGS Reporting ( done by buyers side) prior to releasing of goods by Factory to be transported out to Port / Airport of release.
Note:
1. LOI, LOA and POF to be current dated (less than 48 hours)
2. LOI clearly mention the monthly required quantity and duration on delivery
3. POF/BCL to be a bank statement, stamped by bank or BCL is required
Please note that no POF LOI, you wonot be entertained. Thanks
