Description

Procedures for Transaction (Bank to Bank):
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1. Buyer issues LOI + CP for due diligence review to Seller.  If satisfactory, the Seller issues the formal offer with a SCO addressed to the Buyer.
2. The Buyer issues an ICPO with full banking coordinates addressed to the End-Seller along with a copy of the Buyers company profile. 
3. Seller issues DRAFT CONTRACT.  Buyer and seller sign and seal the contract. Although reasonable changes can be made within the Draft Contract, THE PAYMENT METHOD & INSTRUMENT: SBLC or BG via MT**0, IRDLC via MT**0 or MT**3 Conditional are NEITHER NEGOTIABLE nor IS THE VERBIAGE ALTERABLE.  
4. Upon the signature of the DRAFT CONTRACT.  The Seller sends to the buyer the product information to check and test. The seller provides documents, including the Dip Test Report, sent via Swift to the buyers bank, with copy to the buyers secured email.              
5. Seller issues the following documents: 

6. Once the buyer has received all the documents, the Buyer has maximum of one banking day to verify the product and all the documents (Including the DIP test report) and immediately posts their non-operative, non-transferable IRDLC via MT**0, or their SBLC or BG via MT**0.
7. After confirmation of the Buyers payment instrument, Seller will issue to Buyers Bank the Full shipping documents, Proof of Product (POP) Plus 2% Performance Bond via Swift Bank to Bank upon acceptance of Buyers payment instrument (IRDLC /MT**0 Non Transferable) covering the first Trial Shipment by Seller to activate the Buyers Financial Instrument.
8. After the dip test at the arrival report, the Buyer issues payment immediately via MT**3/TT to the Sellers nominated bank account. The product is then allowed to be unloaded and Title must be transferred to Buyer name.   Seller is responsible for the cost of the SGS at the loading port, the Buyer is responsible for the cost of SGS at the arrival port.
9. Within *4 hours of payment from the buyer, the Seller issues the commission payments to all intermediaries.
10. Next shipment gets prepared