1) Buyer issues "ICPO" with requested Product Specification, Quantity, Shipments, Port of Destination; Terms of Payment, including Buyer's Banking Information AND the company's Profile or the corporate CIS.
2) Seller issues "FCO" and send for be confirmed, signed and sealed by the Buyer. (Electronic Signature will be accepted).
3) Buyer returns to Seller by e-mail the signed and sealed Full Corporate Offer (Electronic Signature will be accepted).
4) Seller issues "DRAFT CONTRACT" and attached the sample (verbiage) of Financial Instrument (s), send to Buyer, for analysis, accept or NO the terms and conditions, make corrections and/or insertions if necessary. The Buyer, rubric and stamp on all pages and return "DRAFT CONTRACT" to Seller by email.
5) Seller receive "Draft Contract" and issues the "Final Contract" sending a Copy to the Buyer by e-mail, Electronic Signature will be accepted, until "Hard Copies" be exchanged.
6) Buyer's Bank, issue a RWA (Ready, Willing & Able) or MT799, as capacity financial, by SWIFT for Seller Bank's, and a copy courtesy for SELLER
7) After Seller receives the final contract signed and stamped by buyer with all terms and conditions, the Buyer Bank's, issue the Financial Instrument via SWIFT to the Seller's Bank, sending courtesy copy of SWIFT to seller.
8) The Seller's Bank issue a "POP" via SWIFT to Buyer's Bank, 07 days after financial instrument is accepted and blocked.
9) The Seller's Bank issues the 2% PBG, with value of one (01) month of loading to the purchaser's bank, after receiving the operative financial instrument (long-term contract only)
10) Seller starts sending the products within 30/45 days, or before, after having received Financial Instrument, activated.
11) Once the Ship is loading, the seller send following documents, Draft of BL (bill of Loading), Draft of Booking, Certificate of Origin (copy) and Phyto-sanitary Certificate (Copy) as stated and agreed in the "CONTRACT" for Buyer and his Bank, the payment to Seller's Bank must be released within maximum two (02) days from receipt of above mentioned documents.
12) The Seller assumes all shipping cost, insurance and guarantee (CIF) until the vessel arrival in the destination port.
13) All and any additional costs are on the Buyer's account.
The parties agree to maintain strict confidentiality concerning the identities of the parties directly or indirectly involved in this transaction. All data remains the property of the party who has brought the respective data into this transaction.
NO PERFORMANCE PAST
No BL Copies - Considered a violation of privacy and International Law (ICC Rules)
No SGS Reports Past – It is illegal according to ICC Rules
No Photographs – Inventories & stocks are constantly coming in and going out.
No Operative Performance Bond before payment instrument.
No visit to loading port before issuance of payment instrument (contracts only)
No IMFPA before contract closed (accepted payment instrument in place)
Samples are not used for the following reasons: No sample will ever be from the same bag, batch, silo, consignment, order or shipment, Any sample is easily fabricated and does not represent a true sample of what will be received in a shipment.
A sample can easily be damaged by heat, moisture, humidity during transport, lose some of its oil content, protein content, moisture content and appearance etc.