SUGAR ICUMSA 45, 150, 600-1200
1. Buyer submits original signed and sealed LOI + KYC
2. The seller or agent sends the SCO to the buyer.
3. The buyer sends the signed and stamped ICPO +RWA + ACCEPTANCE FOR CONSULTATION AT HIS CONSULATE.
4. The seller performs due diligence (DD), for the issuance of the full corporate order (FCO) or draft contract to the buyer for review.
5. Buyer sends final revised and formed contract.
6. Contract must be verified by seller and buyer, and electronic version signed.
7. For LC and SBLC instruments, the supplier must be the first beneficiary of the instrument.
8. If the buyer wishes to open a Financial Instrument only for the TRIAL (and then another Financial Instrument for the Monthly contract), the Financial Instrument needed for the TRIAL must be valid for 90 days with the following conditions:
9. No 2% PB for Test Orders.
10. Past performance can be given along with 2% PB for the transferable financial instrument received.
11. SGS inspection at the PORT OF CARGO is the only reference for release of payment.
12. Buyers are welcome (paid by buyer) to CIQ INSPECTION at loading port (for Chinese market).
13. We do not accept CIQ at DESTINATION PORT as condition of Sale Transaction / payment condition.
14. We ship CIF (except for Africa, we ship FOB).
15. PAYMENT GUARANTEE:
SBLC / DLC TRANSFERABLE, IRREVOCABLE, DIVISIBLE, CONFIRMED, REVOLVING, PAYMENT WITH MT103 MONTH TO MONTH PAYABLE AT PORT OF ORIGIN AGAINST CARGO DOCUMENTS.
16. SBLC Transferable - DE BANK TOP 50
17. DLC Transferable - DE TOP 50 BANK - AUTO REVOLVENTE FOR 12 MONTHS
18. RELEASE OF FIDUCIARY PAYMENT:
19. Within 3 banking days, Buyer pays by MT103/TT against the Official Shipping Document, including BL and SGS Report at the PORT OF CARGO, THIS IS THE ONLY POSSIBLE METHOD OF PAYMENT.
20. We can negotiate and accept payment by DLC/LC AT SIGHT in the only case that the full-face value of 12 months and each of the 12 months is delivered.
21. Seller signs spa and sends back accompanied by pro forma invoice.
22. Buyer returns the signed pro forma invoice.
23. After being manually signed and stamped by the seller and the buyer, the seller will send it through the "DocuSign" service for the management of electronic signatures and digital transactions (https://www.docusign.com/) and it will be considered to have original value with all the associated legal and juridical scope. Therefore, it will be a substitute for the original paper.
24. Within 7 working days, the buyer issues the draft of the actual draft financial instrument from the bank with all related information fulfilled, including the detail of the confirming bank to the seller by official e-mail.
25. The seller validates the draft with the account of the trust firm in New York and indicates revisions if necessary or advises whether the financial instrument can be opened (no financial instrument should be sent directly to the bank without prior validation of the draft, otherwise it will be rejected and this will constitute a commercial default).
26. Within 35/45 days of opening the financial instrument, delivery is initiated.
27. Within 3 working days after receipt of the shipping document by the buyer's bank.
28. Buyer shall be responsible for import requirements and licenses at destination.
29. THIS PROCEDURE IS GENERIC AND MAY CHANGE WITHOUT NOTICE, DEPENDING ON THE SELLER.