Full list of Procedures
1) The Buyer's send ICPO
2) The Seller's will send directly FCO.
3) The Buyer's SWIFT MT 799 POF (or other POF swift to seller’s bank) Bank to Bank
4) Seller’s bank SWIFT Seller's Ability Confirmation Letter to Buyer's bank (bank to bank) and seller's bank shall issue Operable Performance Bond (PBg)2%
5) Seller issues the DRAFT CONTRACT
6) Buyer signs, seals, and sends DRAFT CONTRACT back to seller
7) Then the buyer's provide 1 month value Collateral Guarantee by using Swift MT 760 in the form of BG or SBLC or even LPG(Transferable) is also now possible by Swift MT 760, MT 103/23 is also acceptable
8) POP to Buyer's Bank
9) Document includes as follows
o Copy of license to export
o Copy of Approval to export
o Copy of Statement of Availability of the Product
10)When the product is arrived & discharged at buyer's port and then upon the receipt of final SGS report in front of the buyer's and with fully satisfactory they will release us / seller's the payment by TT or RDLC or DLC ( Buyer's Choice ).
11) Delivery Commence as per Contract
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