PURCHASE PROCEDURE
1. Buyer issues a Letter of Intent (LOI) or Irrevocable Corporate Purchase Order
(ICPO) + KYC and RWA
2. The seller issues a complete corporate offer (FCO).
3. The buyer signs and seals the FCO page and returns it to the seller.
4. Seller issues a draft Sales Contract (SPA) which will incorporate all
terms and conditions.
5. Buyer signs and seals ALL pages of the SPA and returns it to Seller.
6. Seller completes the SPA, signs and seals and issues a PROFORMA
INVOICE.
7. The Buyer's Bank issues a draft SBLC (MT760) or DLC (MT700), which
seller's bank reviews and approves.
8. The "proof of product" will be sent within 5 bank business days, when they send
the first MT to our bank, documents or proof of the product are sent, ONLY
FROM BANK TO BANK.
9. Within 3 international banking days, Buyer's Bank issues irrevocable statements,
Transferable Confirmed SBLC (MT760) or DLC (MT700), to seller's bank
(from top 50 banks)
10. The buyer will be invited to the port of loading for inspection during loading in
Buyer's expenses.
11. Shipments will start within 40-45 days (for sugar) AND for chicken 20-25
days, after approval of the SBLC (MT760) or DLC (MT700) by the Seller
Bank.
12. All original documents will be sent to the buying bank through the selling bank
via DHL.
13. Payment is made to Seller's bank by Buyer's bank immediately after
the material is loaded and an SGS audited report� is� provided.
