Quantity: 300.000MT x 12 Price: USD 240 CIF Payment by MT103/72. Procedure: 1. End buyer sends ICPO+POF (bank top 50) 2. Seller sends FCO for buyer signature-stamp 3. Seller and buyer exchange the contract for final agreement and signature. 4. After the contract signed, the buyer opens MT103 in the value of all the contract year, a block of funds 5. Seller moves the shipment at loading port and submits shipping docs to the buyer bank 6. Buyer bank releases the payment to the seller bank. 7. Process will be repeated month by month.
