VEGETABLE OIL OF MALAYSIAN ORIGIN
1- PROCEDURES:
1. The buyer issues a corporate LOI.
2. The seller's agent issues an SCO.
3. The buyer signs, stamps and returns the SCO to the seller's agent.
4. 4. The buyer issues an irrevocable corporate purchase order (ICPO).
The buyer's ICPO must include the price, payment terms and other terms previously agreed by both parties, as we understand they have been explained to the buyer.
In the SCO. If the ICPO reflects conditions not accepted by the SELLER, it will not be valid or accepted.
5. Once the ICPO has been received by the buyer, the SELLER issues the FULL CORPORATE OFFER (OCE) within a maximum period of 48 hours.
6. The buyer returns the signed and accepted FCO within three (3) days and a proof of funds MT 199 / RWA / BCL, issued by the buyer's bank to the SELLER's bank.
7. It is at the discretion of the SELLER to hold a meeting with the buyer's legal representative or the buyer through Meeting Zoom, Google Meet or similar.
8. The SELLER issues the contract (SPA + IMPHA so that) to the buyer on the agreed terms.
9. Once the contract has been issued and accepted by the Buyer, the signed and stamped contract will be returned to the SELLER within a maximum period of five days.
The Buyer shall proceed to legalise the signature and his status as legal representative before a NOTARY PUBLIC. The legalisations carried out by a NOTARY PUBLIC shall be in one of the following languages: Spanish, Portuguese or English, (if another language, it must be translated by an authorised translator or authorised official). In those countries where authorisation and/or quotas granted by the government are required, an affidavit of the disposition of the same by the purchaser or, failing this, an affidavit of the disposition of the same by the purchaser will be necessary. Necessary or, failing this, an official document to that effect.
10. Once the SELLER has received the contract accepted by the Buyer, the latter shall proceed in the same way, legalizing it, registering it with the Public Prosecutor's Office and sending a signed and stamped copy to the Buyer, together with the pro forma invoice.
11. The Buyer signs and returns the invoice to the Seller within 24 hours.
12. The Buyer and the SELLER deposit a copy of the contract (SPA) in their respective banks.
13. The Buyer's bank will issue the financial instrument, confirmed, irrevocable, transferable, divisible, negotiable, for the total value of one month, renewable for the duration of the contract plus one day, within ten (10) days. The buyer's issuing bank must be a first class global bank accepted by the SELLER.
14. The SELLER accepts the financial instrument and confirms the bank verification of the instrument. Only when the transaction is secured by the Financial Instrument granted in favour of the Buyer. Once the financial instrument has been received and deposited in the Seller's bank.
15. After successful inspection and submission of shipping documents, SGS and B/L, the Buyer's bank issues payment of 100% of the monthly value of the goods to our bank account via MT 103 within 24 hours. The monthly payments of 100% via MT 103 will remain constant for the duration of the contract.
16. The SELLER is responsible for customs clearance at the port of loading and the issuance of export documents, and the buyer is responsible for customs clearance costs at the port of destination.
SHIPPING DOCUMENTS:
1. bill of lading, three originals and three (3/3) CLEAN ON BOARD and marked "freight prepaid".
2. Commercial Invoice, three originals and three (3/3) copies.
3. Original certificate of origin issued by an officer and three (3/3) copies.
4. Certificate of quality and quantity issued by "SGS" three (3/3) copies.
5. Sanitary certificate issued by an official in three originals and three (3/3) copies.
6. Certificate issued by "SGS" certifying that the product is fit for human consumption.
7. Insurance policy for 110% of the net invoice value, covering all risks.
8. 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.
9. The vessel registered in the Lloyd's Register.
10. Cargo list (with indication of gross/net weight) three originals and three (3/3) copies.
11. Production batch certificate in three (3/3) copies issued by the manufacturer (approved control plant number).
THIS PROCEDURE IS GENERIC AND MAY CHANGE WITHOUT NOTICE DEPENDING ON THE SELLER.
