Although our procedures are standardized, we always aim to work together with our clients to reach a mutual agreement. We appreciate and value your business so please contact us if you have any questions about the following procedure.
- Non-Circumvention and Non-Disclosure (NCND) agreement is signed between all parties involved
- Irrevocable Master Fee Protection Agreement (IMFPA) is signed between all parties involved
- Buyer submits a valid Letter of Intent (LOI) with complete banking coordinates and authorization of soft probe and Bank Comfort/Clearance Letter (BCL) or Irrevocable Corporate Purchase Order (ICPO)
- Seller issues the draft contract (DC) and Full Corporate Offer (FCO)
- Buyer sends signed and stamped DC, FCO with a fresh BCL confirming that the buyer has the capability to open a Letter of Credit (LC)
- Seller sends soft and hard copies of the final contract to be signed and stamped by the buyer
- Buyer issues a non-operative LC and provides Proof of Funds (POF) to the seller’s bank.
- Seller will provide Proof of Product (POP) to the buyer’s bank.
- Seller will issue 2% Performance Bond Guarantee (PBG) to activate the LC
- Shipment begins as per mutually agreed schedule in the contract.