1. Buyer sends original signed and stamped LOI. + KYC.
2. 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 formalized contract.
6. The buyer, through its bank, must issue a DLC (Documentary Letter of Credit) guarantee to secure the purchase commitment for the duration of the contract.
7. The payment instrument must be approved by the seller's bank. If not approved, it must be confirmed by a TOP 25 bank recommended by the seller's bank.
8. The payment instrument must be issued by an international bank of recognized prestige and must be issued by a country without international sanctions. This method of payment shall be made for each batch of products to be shipped for the duration of the contract.
9. PROOF OF PRODUCT (POP): After receiving confirmation from the seller's bank that the SBLC payment instrument has been received correctly drafted and operational, the seller, through its bank, will send to the buyer's bank the POP, of the existence and availability of the product, for the shipment of the first batch, within a period of 5 days.
10. PERFORMANCE BOND (PB): After receiving the DLC guarantee from the buyer, the seller will issue a 2% performance guarantee to the buyer, which will be sent to the buyer's bank. This guarantee will be valid for 365 days plus one day, and will be valid for the duration of the contract.
11. The seller confirms the guarantee of one or two months' worth of goods, proceeds to prepare the shipment.
12. The buyer sends to the seller's bank the value of the blocked purchase commitment or guarantee, waiting to receive the POP (Proof of Product Availability).
13. DLC (Documentary Letter of Credit) at 100%, irrevocable, divisible and transferable, for a value equivalent to two months of the contract products. This guarantee is valid for 365 days plus one day and shall be payable at sight, upon presentation of the bill of lading, SGS report and other agreed documents mentioned in clause 10. Payment shall be made by MT103, bank transfer or TT.
14. SBLC (Standby Letter of Credit) at 100%, irrevocable, divisible and transferable, for a value equivalent to one month of the contract products. This guarantee is also valid for 365 days plus one day and shall be payable on demand, against presentation of the bill of lading, SGS report and other agreed documents mentioned in clause 10. Payment shall be made by MT103, bank transfer or TT.
15. Payment shall be made by bank transfer (T/T) or MT103, at the port of loading against SGS and BL shipping documents.
16. Within the term stipulated in the contract, the seller shall send the product to the port of loading for shipment to its destination and shall send the documents justifying the delivery of the product to the carrier.
17. When the buyer receives in his bank the documents accompanying the shipment of the product and verifies that everything is correct and corresponds to what was agreed in the purchase-sale contract, the buyer's bank must make the payment of the order for 100% of the value of the product.
18. Once the seller receives the payment of 100% of the value of the product from his bank, he releases the cargo to be transported by the carrier to the port of destination.
19. The buyer shall be responsible for import requirements and licenses at destination.
20. THIS PROCEDURE IS GENERIC AND MAY CHANGE WITHOUT NOTICE, DEPENDING ON THE SELLER.