Sale Procedures

  1. Buyer issues LOI (Letter Of Intent).

     
  2. Export Broker issues SCO (Soft Corporate Offer) as the seller's representative.

     
  3. Buyer returns SCO signed and stamped.

     
  4. Buyer issues ICPO (Irrevocable Corporate Purchase Order).

    • Together with ICPO, it is indispensable:

      • Presentation of Proof of Funds (BCL or RWA) with a minimum value equivalent to one remittance,
      • Presentation of the Import License from the Government of the importing country,
      • Copy of the buyer's Passport,
      • CIS (Client lnformation Sheet)

         
  5. Seller/Exporter with GACC/AQSIC sends:

    • Draft SPA (Sale and Purchase Agreement)
    • PI (Proforma Invoice)
    • Draft SBLC to be completed by the buyer‘s bank.

       
  6. Buyer returns:

    • Draft SPA (Sales and Purchase Agreement) stamped, signed and scanned or in PDF format via mail and it will be considered legal and official Sale and Purchase Agreement until copies are exchanged.
    • PI (Proforma Invoice) stamped and signed.
    • Draft SBLC to be completed by the buyer‘s bank.

       
  7. After approval of the draft SBLC by the seller's bank, the buyer's bank issues SBLC TRANSFERABLE or DLC TRANSFERABLE (MT760 or MT700) as a payment guarantee for one month and also issues MT103 to be used as a payment method. The banking instrument must be transferable, irrevocable, divisible, operational, renewable and confirmed by a top 100 bank. (See list of banks attached)

     
  8. After the opened bank instrument, seller‘s bank sends to the bank of the buyer the 2% PB (Performance Bond) on value of a shipment and POP (Proof of Product).

     
  9. The buyer will receive a confirmation letter, Inspection SGS - CIQ or similar at loading port.

     
  10. Within 30 days the ship will be loaded.

     
  11. After loading, the seller sends the shipping documents to the buyer's bank for payment by MT103.

     
  12. Payment by MT103 effected.
    (If there is no payment by MT103, the SBLC/DLC guarantee is activated automatically)

     
  13. Ship release with following shipping documents:

    • Inspection Certificate by SGS Commercial Invoice
    • Origin Certificate
    • Phytosanitary Certificate
    • Radiation Free Certificate
    • Bill of Lading
    • Weight quality and issued by SGS
    • Packing List in Triplicate
    • Fumigation Certificate
    • lnsurance Certificate

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