COPPER
NO VISITS ARE ALLOWED IN THE FACTORY OR AT THE PORT OF LOADING.
1- PROCEDURES:
* We only accept information from the end buyer.
* We only accept LOIs / ICPOs addressed to Delavoner Group.
* We do not accept screenshots, images or text parts.
* Delavoner Group does not pay commissions or over-prices.
1. Buyer sends banked ICPO or LOI with TARGET PRICE and any additional information required by the buyer.
2. The necessary information for the sale will be sent by the seller in the FCO or CONTRACT.
3. Seller submits FCO with updated price for review and approval.
4. Buyer signs and sends FCO + draft L/C.
5. Seller sends contract with final price for review and approval.
6. The contract will be verified by the seller and buyer and signed in the electronic version.
2- PAYMENT:
1. SBLC/DLC irrevocable, transferable, divisible, confirmed, revolving payable on demand, top25 bank, if not top25, prior approval of receiving bank.
2. The SBLC/DLC must be for the full amount of the order paid month to month with MT103.
3. Within 10 calendar days of this contract being signed by both parties, the buyer must issue documentary letter of credit at sight in favour of the seller (to the seller's account) from the buyer's bank.
4. Seller carries the cargo and SGS verifies at the port of loading.
5. Seller sends original shipping documents to buyer's bank and buyer's bank will send 100% of invoice value through MT-103 to seller's bank.
6. Payment will be effective upon shipment invoicing and shipment of documents within 3 banking days upon receipt of documents, at the port of loading. Buyer must send a copy of expedited transaction received from his bank by email to the seller for confirmation.
3- DELIVERY:
First delivery will be made within 30/40 days from receipt and acceptance of SBLC/DLC documentary letter of credit, there may be delay caused by COVID 19.
4- INSURANCE:
1. 110% at seller's expense.
2. SGS will be conducted at port of loading at seller's expense.
3. inspection at port of destination will be at buyer's expense.
5- NON-COMPLIANCE RULES:
Default will be determined by bank-to-bank verification and communication of each party's ability to comply with the terms of the contract.
6- PROOF OF PRODUCT (POP):
The seller will issue the pop to the buyer's bank within 15 banking days after the seller's bank has accepted the SBLC/DLC, delay caused by COVID 19.
The proof of product (pop) will be presented by the seller's bank to the buyer's bank at the time specified in the procedures.
These products will be made from bank to bank through documents and shipping certificates confirming that the same will be delivered in accordance with ICC (international specification standards) and executed in accordance with the contract.
7- PERFORMANCE BOND (PB):
The seller will issue 1.50% (PB) of the amount of the first shipment of the annual contract, within 10/15 banking days after the seller's bank confirms the SBLC/DLC, there may be delay caused by COVID 19.
8- DOCUMENTS:
Seller's bank issues the complete pop documents below to buyer's bank.
1. three (3) original and three (3) copies of signed commercial invoices;
2. three (3) original copies and three (3) copies of the complete set of Bill of Lading (BL) marked "prepaid cargo" issued to the order of the buyer;
3. one (1) original and four (4) copies of the quality and quantity control certificate issued by SGS;
4. one (1) original and four (4) copies of the certificate of origin, issued by the chamber of commerce and industry of the country of origin;
5. one (1) original and two (2) copies of the declaration from the shipping company confirming that the age of the vessel does not exceed twenty (20) years and the vessel is registered under the LLOYDS registry;
6. one (1) original and two (2) copies of the non-radioactivity certificate;
7. one (1) original and three (3) copies of the phytosanitary certificate issued by the appropriate governmental authority in the country of origin; h. one (1) original and three (3) copies of the phytosanitary certificate issued by the appropriate governmental authority in the country of origin;
8. one (1) original and two (2) copies of the packing list showing: i) gross / net weight; ii) the ocean bill of lading number; iii. the certificate of insurance in the name of the country of origin; iv. the certificate of insurance in the name of the country of origin;
9. the certificate of insurance in the name of the buyer covering 110% of the value of the cargo.
10. Export clearance certificates.
9- PAST PERFORMANCE:
Proof of past shipments could be given once the contract has been signed by both parties and the SBLC/DLC is open and operational.
10- AQSIQ:
The issuance of the AQSIQ document does not correspond to the seller, if the one who signs the contract with the seller, is not the final buyer in China.
11- LICENSES AT DESTINATION:
the buyer will be responsible for the import requirements and licenses at destination.
12- NOTICE:
THIS PROCEDURE IS GENERIC AND MAY CHANGE WITHOUT NOTICE DEPENDING ON THE VENDOR.
