Important notes

Documents necessary: letter of intent (LOI) and bank capability letter (BCL). The Letter of Intent must be filled (buyer�s name, full address and full bank coordinates), issued in letterhead paper with stamp, signed and sealed by buyer. the letter of intent must be along with a bank capability letter issued by a prime word bank.

Embarkment: to verify in logistic.
Mode of payment: to verify in the table.
Destination port: to verify in the table.
Insurance: provided by seller to the benefit of the buyer for a total of 100% of the buyer�s cost.
Performance bond: 2,0 % (two per cent) per metric ton based on the acceptable LC amount;
Inspection: SGS or equivalent done buy exporter (seller) at loading port.

Procedure

1. Buyer issues LOI with full banking coordinates along with BCL (Bank Capability Letter).
2. Seller issues the FCO
3. Buyer signs, seals and returns the FCO. Buyer�s bank sends by swift to the seller�s bank the POF for the whole amount of the contract value.
5. Seller issue�s draft of contract.
6. Buyer signs the draft contract and sends it back to the seller.
7. Seller signs the final contract and returns it to buyer.
8. Seller�s attorney escrow agent will send the pop to the buyer�s bank.
9. Buyer�s bank issue and send by swift the LC 100% at sight to the seller�s bank within 48 hours after receive the POP.
10. Seller posts performance bond (PB) for the value of 2,0%.
11. Shipment begins. Buyer can made a physical inspection together with SGS at the time of loading of product.

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