NO PHOTOS OR VISITS ARE ALLOWED IN THE FACTORY OR AT THE PORT OF LOADING
1. The buyer sends the LOI.
2. The seller/agent sends the SCO to the buyer.
3. Buyer sends the signed and stamped ICPO.
4. Seller sends FCO or draft contract to 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. Once the financial SPA is issued, the buyer stamps and signs it. The buyer's draft DLC is then returned with the signed SPA.
9. The financier issues a proforma at that stage to the buyer, the buyer signs and returns back.
10. In the meantime, 1 of the 3 financiers we use monetizes your DLC in the name of the financier, so you can pay BRF the TT payments.
11. There is little risk to the buyer because the financier is the one who pays the TT to BRF.
12. Once your DLC is monetized, I arrange a SPA and proforma from BRF that you as buyer get a copy of as consignee.
13. The seller is BRF, the buyer is the financier and the customer is the consignee. All BRF documentation is in the name of the Consignee.
14. The only role of the financier here is to monetize the buyer's DLC with 1 of our 3 financiers and pay BRF.
15. There is no other way to buy from BRF unless the customer is willing to pay his TT deals.
16. This whole process allows us to place all orders to BRF from customers, as these days customer payment terms seem to be DLC MT 700 only.
17. BRF does not pay any PB 2%, but we do pay, so it is an added advantage to buy this way. Also, the financier has no charge to convert your DLC for the financier, he is paid commission included in the prices.
18. You, the customer, have 2 options to deal with us, 1 is to monetize your DLC through the financier or pay BRF their TT deal and receive no PB 2%. We have done this to help all our many customers, we hope you will become one of them.
19. With great prices, PB 2%, no added cost to monetize your DLC, very little risk, to be able to deal with BRF, I am sure you will see the long-term benefits once you understand the process.
20. Buyer will be responsible for import requirements and licenses at destination.
21. THIS PROCEDURE IS GENERIC AND MAY CHANGE WITHOUT NOTICE, DEPENDING ON THE SELLER.
