Procedure STANDARD PROCEDURE FOR CIF DELIVERY

1. Buyer issues LOI with bank details.

2. Seller’s representative issues SCO.

3. Buyer issues ICPO with SOFT PROBE AUTHORIZATION. (Buyer issues LOA).

4. Seller issues FCO (Buyer Endorsement & All Parties sign into NCNDA).

5. Buyer signs, seals and returns the FCO with the Acceptance Letter to the Seller Procedures.

6. Seller issues the Draft Contract, open for any amendment (Buyer Signs, Seals and returns it).

7. Seller sends final / approved contract to Buyer and both Seller and Buyer will Lodge with respective banks.

8. Buyer issues RWA POF-proof of fund by bank to bank via SWIFT MT799 to Seller’s bank.

9. After receiving and confirming of the Buyer’s slip copy of the RWAPOF via SWIFT MT 799, Seller’s bank will SWIFT back to Buyer’s bank:

a). The PARTIAL POP (Proof of Product),

b). Commercial Invoice.

10. Buyer issues non-operative RDLC to Seller’s bank (fiduciary account) within Seven (7) working days after receiving the POP above.

11. Seller’s Bank (Fiduciary Account) swifts back to Buyer’s Bank:

a). FULL POP (like: DTA, SGS, Vessel B/L);

b). 2% PGB (Performance Guarantee Bond) of Invoice Value to activate the Buyer’s RDLC within Seven (7) working days after clause No. 10 above.

12. Shipping and Delivery commences as per the agreed contract.

** Seller provides Proof of Product (POP) documents and Past Performance of Previous Shipments to Buyer after receiving signed contract and Buyer’s POP via swift MT 799 (See MT 799 format-Annex A)..

Shipment Within 45 days after receipt of Bank instruments.

Inspection SGS or Equivalent inspector at the loading port.

Validity Within Seven (7) working days after issuing date.

NOTE: - For a customize offer we shall advice the buyer to provide an official letter of intent stating Name of product/ Quantity/Delivery term/Target price/Port of destination and contract duration.