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Product Description

1.    Buyer issues LOI or ICPO with full banking coordinates
2.    Seller issues signed FCO
a.    Seller will reserve the buyer�s product for shipment or until the expiration date of the FCO if Buyer does not sign and return.
3.    Buyer accepts the FCO and issues a BCL via bank swift system within 5 days
a.    This does not commit either the Buyer or Seller to any contract. It demonstrates that both parties are willing to proceed to the contract phase. The BCL is important; it shows the Seller that the Buyer�s bank is aware that the Buyer has every intention to make the purchase and the bank approves and will support the Buyer.
4.    Seller�s bank issues POP within *2 hours after receipt of the BCL via bank swift. The draft Contract will follow from the Seller.
5.    Buyer reviews the draft Contract and returns to Seller for any amendments. Seller re-issues as the final contract.
6.    Buyer and Seller signs final contract within 7 days from receipt of POP.
7.    Buyer opens an non-operative, irrevocable, transferable, DLC or SBLC payment at sight. Payment by TT is preferred with a bank guarantee.
8.    Seller issues an operative 2% performance bond guarantee (PBG) to active the Buyer�s non-operative DLC or SBLC. No PBG if payment by TT.
9.    Port visit permitted by invitation
*0.    Shipment commences as per the contract