1. Buyer issues LOI with following documents :
- Certificate of corporation
- Scanned of Buyer International Passport
2. Seller issues FCO to Buyer, Buyer accepts and signs FCO and sends CIS, and notarized RWA.
3. Seller issues CI and sends it to the buyer for confirmation.
4. Within 5 days, Buyer does normal banking procedure for issues Conditional SBLC (MT799 then MT760 in USD currency) for beneficiary of the account declared in CI (equal to monthly shipment value as a guarantee for the implementation).
5. Seven days After verifying Conditional SBLC, the seller issues full POP to buyer :
- Ship Schedule
- Statement of Product Availability
- Certificate of Origin
- Company License to Export
- Company Registration Certificate
- Product Passport (Dip Test Result)
- Fresh SGS Not Older Than 48 Hours
- Injection Report
6. After 15 days, loading commence and seller send to buyer the BL, Vessel Q88 of the cargo and Conditional SBLC will be activated automatically.
7. As soon as each shipment arrives at the destination port agreed upon, seller issues DTA for buyer and buyer does SGS or CCIC report Q&Q in seller's vessel at port.
8. After successful report and up to 24 hours after the confirmation of cargo documents the seller begins discharging operations, and the Buyer has 10 days time to pays 100% of shipment via MT103 to seller's account and SBLC will be valid for next part as a
guarantee.
9. If the Buyer fails to make full payment within agreed period declared in CI (mostly 3 days), the Seller retains its right to call the activated SBLC and collect from the Bank.
> BG or SBLC must be issued from Prime Banks for 1 year and 1 day.
