PROCEDURES FOR EXPORT BUSINESS

 

1. The BUYER issues an Irrevocable Corporate Purchase Order - ICPO, complete with all buyer data, sends the following documents:

 

1.1 In the ICPO, the price, payment and other conditions agreed upon in the mutual terms MUST be clearly stated;

 

1.2 COPY OF THE COMPANY REGISTRATION, COPY OF THE PASSPORT OF THE PERSON RESPONSIBLE FOR THE PURCHASE, AND BCL (PROOF OF FUNDS, BANK TOP 50).

 

2. Upon receipt of the ICPO, the SELLER issues the FCO agreeing the price and terms. The BUYER returns the FCO to the SELLER with the signature and stamp;

 

3. The SELLER issues the Purchase and Sale Agreement - SPA. The BUYER analyzes, and if there is a need to make any changes, they will be discussed and agreed upon in the mutual decision to insert in the SPA, after which it will be signed between the parties;

 

4. The BUYER signs the Purchase and Sale Agreement - SPA, sends it back to the SELLER for its signature, and seals it and sends a copy back to the BUYER;

 

5. The SELLER now issues the pro forma invoice to obtain the draft of the SBLC or DLC letter of credit, with the value of the 1st shipment;

 

6. The BUYER sends the SBLC Letter of Credit or DLC (Bank Guarantee) through its Bank to the SELLER's Bank for approval. The letter of credit will be issued with a validity of 366 days (12 months + 1 day), the value will be according to the Commercial Invoice for the 1st shipment;

 

7. Within five (5) business days after confirmation of receipt and acceptance of the Credit Document by the SELLER's Bank, the buyer activates the SBLC or DLC credit document;

 

8. Upon receipt of the Credit Operating Document, the SELLER starts shipping the goods within 45 working days;

 

9. Once loading is complete, Seller's Bank sends copies of the scanned Shipping Documents to Buyer's Bank;

           

10. The Buyer's Bank releases the full payment of the value of the first shipment by MT103 at the loading port, after receiving the original BL, SGS and POP and the FULL set of Shipping Documents;

 

11. The ship leaves the loading port towards the port of destination;

 

12. The SELLER's responsibility ends at the port of destination. Operational services at the port of destination (UNLOADING, PRODUCT NATIONALIZATION, STORAGE AND OTHERS) are the responsibility of the BUYER.

 

 

PAYMENT CONDITIONS:

 

100% SBLC or DLC, irrevocable, transferable, auto-rotating, issued or confirmed by seller bank approval (MT 760/799).

The funds corresponding to the letter of credit issued by the BUYER will be released upon shipment of the goods at the port of Origin, upon delivery of the export documents by the SELLER.

 

NOTE: "All certificates, documents, SGS or POP that you request from us for ANY business will be delivered upon receipt of the LETTER OF CREDIT".

 

 

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