|
|
|
Procedures
|
- Buyer issues LOI
(Letter of Intent), and either BCL (Bank Confirmation Letter) or BRL
(Bank Reference Letter) information with authorization to verify funds;
without LOI and BCL or BRL, we can NOT continue, please DO NOT insist.
PLEASE NOTE THESE DOCUMENTS MUST BE ON THE RESPECTIVE LETTERHEAD.
- Buyers confirm the FCO
(Full Corporate Offer) with Price and Terms & Conditions.
- Upon receipt of the
signed FCO, Seller sends the Draft Contract with full T&C to
Buyer.
- Buyer signs and
returns the Draft Contract showing all amendments required and adds
full banking details.
- The Seller amends,
where necessary, the hard copy of the contract, signs, seals and issues
to the buyer for his completion. The Buyer signs the hard copy
contract and returns to the Seller. A facsimile copy shall be
considered as the original.
- POF (Proof of Funds) vs POP (Proof of Product) bank to bank via Swift.
- Buyer issues
non-operative L/C (Letter of Credit).
- Seller activates L/C
with 2% PB (Performance Bond).
- Delivery
and shipment commence as per T&C of the contract.
|
|
|
