Skip to main content

ICUMSA 45 - Sugar Procedure

SOP SUGAR STANDARD PROCEDURE: 
1) LETTER OF INTENT FROM BUYER: 
2) STATE QUANITY OF 1 YEAR CONTRACT.AND TARGET BUY PRICE. 

SELLER REPLY DRAFT FCO STATED OF: PRICE OF CONTRACT. PAYMENT TERM: 3% ESCROW AND 97% NON TRANSFERABLE DLC. ON THE FIRST SHIPMENT FOLLOW BY 100% DLC. Payment Guarantee: 100% NON Transferable DLC At Sight on quantity of delivery covering the value of one month's combined shipments. Payment: No later than 5 days after signing Contract, BUYER agrees to prepay 3%+- of total first monthly shipping price by means of SWIFT TT/ MT103, to nominated escrow agent (Schoenholz; US managed agent with offices in New York and Bangkok). When shipment arrives at destination ports, BUYER will immediately transfer 97%+- outstanding monthly balance by DLC from buyer’s bank name directly to Seller’s Operating Account as per contract. Thereafter, until the completion of Contract, when shipments arrive and are cleared at destination ports, BUYER will immediately transfer 100% of total outstanding monthly balance by DLC f buyer’s bank name directly to Seller’s Operating Account as per contract.(See Procedures Pg. 5 ). Page 3 - Full Corporate Offer Performance Bond: SELLER pays 5% performance bond and escrow fees and insurance (from Refinery to arrival port). Delivery terms: Loading Port. Discharge Port: Inspection / Testing: Documentation: Shipping Documents: Commercial invoice: CIF (Cost, Insurance and Freight) Any Brazilian port Buyer’s designated and approved ports. SGS Inspection report issued at the loading port in Brazil. Proof of Product POP As issued at the loading port. As issued and adjusted for quantity shipped from the loading port.


Comments

Post a Comment

Popular posts from this blog

BG/SBLC LEASE 12+3

Transaction Procedure. 1. Lessee Submits DOA, LOI, CIS, PASSPORT, Current dated Bank Comfort Letter, Copy of    Certificate of Incorporation and Bank Details. 2. Provider will conduct Due Diligence and upon successful Due Diligence the DOA will be     signed/counter signed between lessor and the lessee . 3. The Lessor will then send MT799 pre advice. 4. The Lessee’s bank replies with RWA / ICBPO or payment guarantee of 12+3 % and the     transmission fees, payable in 5-7 business days after MT760 receipt . 5. The lessor’s Bank will then send the MT760 to Lessee’s bank 6. Lessee’s bank does MT103 wire transfer to Lessor’s designated bank accounts within 5-7     business days after MT760 swift receipt After Successful Due diligence, Lessor countersigns the LOI. The Signed LOI becomes a Legal binding Commercial Contract (agreement) between the parties. Both parties shall lodge the agreement in their respectiv...
151 comments
Read more

BG/SBLC -SELLER STARTS WITH PRE ADVICE

ONLY THE BUYER OR HIS REP TO RESPONDS . OTHERS EXCUSE.0.25% OPEN FOR BUYER REP. Rate :43+2 Procedure : 1. Contract. 2.Seller Bank sends RWA Email. 3 .Buyer Bank responds with RWA email. 4 .Seller Bank Sends MT 799 Pre Advice. 5 .Buyer Bank Sends MT 799 Payment Undertaking. 6. Seller Bank sends MT 760. 7. Buyer Bank Makes MT 103. 8 .Hard Copy follows. Few points : buyer bank and loc-Top-Bank Preferred. Seller wants buyer is the receiver, not a funder Buyer should have real fund and credit approved by its bank.No Shell company. Seller won't expect you get the BG as collateral to ask for the loan from funder and then pay back the seller. Chinese Banks are not accepted for 43+2 offer. There is another Contract with 45+2 .This is also Pre Advice First Procedure .45+2 Offer accepts Chinese Banks.Small Contract of 300M can be done for 45+2 Contract. After that Large Contract of 50B can be signed. email : spz.resources@gmail.com
57 comments
Read more