Product Description
ICUMSA45
OTG Miami
Quantity: 375,000 MT
PROCEDURE FOR OTG:
ICPO + Bank Comfort Letter
Visit the Warehouse (they'll hold until 3/18, then first come, first serve)
Close
PROCEDURE: U.S. Nationalized Product DDP (Contract):
Price: $500 per MT + Comms
1. The Buyer issues a signed Letter of Intent (LOI) or Purchase Order (ICPO) to the Seller.
2. The seller issues a full corporate offering (FCO).
3.The FCO is reviewed, signed and returned by the buyer within five (3) business days.
4. The seller issues the purchase contract.
5. The buyer reviews, signs, and returns the purchase contract within five (3) business days.
6. The seller signs the purchase contract and sends a copy to the buyer via email.
7. The buyer will be required to issue a proof of funds (POF). You can be:
RWA
BCL signed by two bank officers
â?¢ Certification letter, in which the seller's bank officer can verify the funds with the buyer's bank officer.
8. The seller will then issue a POP once the funds have been verified.
9. The buyer will submit the SBLC draft so that the seller's bank can approve, so that, once approved, the buyer's bank can approve
SBLCS MUST COME FROM THE TOP 25 U.S. BANKS. OR EUROPE, AND BE UNCONDITIONAL, IRREVOCABLE, UNRESTRICTED, TRANSFERABLE, CASH-BACKED. FREE OF CHARGE AND CONFIRMED WITH FULL BANK RESPONSIBILITY.
The seller verifies and confirms, receiving the SBLC
10. Within ten (10) business days, Buyer will receive the completed shipping documents and Proforma Invoice (PI), once the vessels are loaded and ready to depart for the U.S. port.
11. Approximately (20 24) business days later, the sugar will arrive at the designated U.S. port facilities and the Buyer will be notified. Once the shipment has been verified by the government port authorities, the Buyer will receive the completed shipping documents, U.S. Customs Clearance, and Nationalized Sugar Certificates, along with the location of the port facility.
12. After the Buyer or its representative has carried out the inspection of the product and documents, the Buyer shall pay the full payment of the sugar, on the same day of the inspection, to the bank account designated by the seller.
13. The Seller shall transfer title to the Buyer.
14. The Buyer will be responsible for collecting the product at the port facilities within thirty (30 days).
