PROCEDURE

1. BUYER ISSUES ICPO + CIS
2. SELLER ISSUES FCO AND BUYER RETURNS SIGNED FCO
3. SELLER ISSUES DRAFT SPA
4. PARTIES AGREE AND SIGN SPA
5. THE BUYER  ISSUE A PROOF OF FUNDS MT 199/RWA FROM HIS/HER BANK TO THE ADDRESS INDICATED ON THE SPA.
6. SELLER ISSUES PROFORMA INVOICE
7. BUYER RETURNS SIGNED PROFORMA INVOICE
8. THE BUYER SELECTS ONE OF THE PAYMENT METHODS LISTED BELOW AND PREPARES A DRAFT OF THIS PAYMENT METHOD IN COORDINATION WITH THE SELLER.
9. PAYMENT METHODS ARE AVAILABLE IN THE 2 OPTIONS LISTED BELOW.
10. LOADING STARTS AS SOON AS POSSIBLE
11. AFTER PAYMENT PROCEDURES AND B/L TRANSFER, THE VESSEL GO TO THE DISCHARGE PORT.
12. CONSECUTIVE SHIPMENTS WILL ALSO BE PAID AGAINST ALL ORIGINAL SHIPPING DOCUMENTS AND COMMERCIAL INVOICE WITHIN 72 HOURS VIA MT103TT AT THE PORT OF LOADING.
    
    

PAYMENT TERMS FOR DLC MT700

1. BY IRREVOCABLE, TRANSFERABLE, DIVISIBLE AND CONFIRMED LETTER OF CREDIT (DL/C) 100% PAYABLE AT PORT OF LOADING– DL/C MUST BE OPENED AND CONFIRMED BY FIRST CLASS INTERNATIONAL BANK.
2. L/C BECOMES ONLY OPERATIVE WITH 2% PBG.
3. AFTER LOADING IS COMPLETED, MT103 TT CASH AGAINST DOCUMENTS AT THE LOADING PORT.
4. AFTER PAYMENT PROCEDURES AND B/L TRANSFER, THE VESSEL GO TO THE DISCHARGE PORT.
5. CONSECUTIVE SHIPMENTS WILL ALSO BE PAID AGAINST ALL ORIGINAL SHIPPING DOCUMENTS AND COMMERCIAL INVOICE WITHIN 72 HOURS VIA MT103TT AT THE PORT  OF LOADING.

THE LETTER OF CREDIT MUST CONTAIN ;

49: CONFIRMATION INSTRUCTIONS,  ITEM MUST BE

CONFIRMED.

OTHERWISE THE TRANSACTION WILL BE CANCELED.

PAYMENT TERMS FOR MT760 BG

1. AFTER CONTRACT, BEFORE LOADING, BUYER ISSUES MT 760 BG (BANK GUARANTEE, 100% CASH BACKED) THE SELLER CHECKS WITH HIS BANK AND CONFIRMS THE RECEIPT
2. SHIP LOADING STARTS ACCORDING TO THE LOADING SCHEDULE.
3. AFTER LOADING IS COMPLETED, THE BUYER PAYS 100% AGAINST THE SHIPPING DOCUMENTS VIA MT103TT AT THE PORT  OF LOADING WITHIN 72 HOURS,.
4. AFTER PAYMENT PROCEDURES AND B/L TRANSFER, THE VESSEL GO TO THE DISCHARGE PORT.
5. CONSECUTIVES SHIPMENTS WILL ALSO BE PAID AGAINST ALL ORIGINAL SHIPPING DOCUMENTS AND COMMERCIAL INVOICE WITHIN 72 HOURS VIA MT103 AT THE PORT  OF LOADING.

SHIPING DOCUMENTS

1. BENEFICIARY SIGNED AND STAMPED COMMERCIAL INVOICE IN ONE ORIGINAL AND 3 COPIES ORIGINAL INVOICE MUST BE CERTIFIED BY THE CHAMBER OF COMMERCE.
2. FULL SET OF 3 ORIGINAL AND 3 COPIESCLEAN ON BOARD”MARINE/OCEAN BILL(S) OF LADING MADE OUT TO APLICANT NAME AND ADDRESS NOTIFY APPLICANT AND MARKED’ FREIGHT PREPAID”.
3. SEPARATE CERTIFICATE OF ORIGIN IN ONE ORIGINAL AND 3 COPIES ISSUED AND OR CERTIFIED BY THE CHAMBER OF COMMERCE AND STATING THAT GOODS ARE OF BRAZIL ORIGIN.
4. PACKING LIST IN ONE ORIGINAL AND 3 COPIES SHOWING NO OF BUNDLES AND THE CONTENTS OF EACH BUNDLE CERTIFYING STANDARD SEAWORTHY EXPORT PACKING.
5. 3 COPIES OF SIGNED PACKING LIST WITH FULL DETAILS SHOWING DESCRIPTION AND QUANTITY OF GOODS DELIVERED.
6. CERTIFICATE OF ORIGIN ISSUED BY S.G.S. AND INSPECTION CERTIFICATE OF WEIGHT AND QUALITY, ISSUED BY SOCIETE GENERALE DE SURVEILLANCE (S.G.S.) AT PORT OF LOADING SHOWING, QUALITY AND QUANTITY SHIPPED EVIDENCE THAT GOODS ARE IN FULL CONFORMITY WITH SPECIFICATIONS AND CONDITIONS MENTIONED IN PRESENT AGREEMENT (CONTRACT) (ONE ORIGINAL AND 3 COPIES)
7. PERFORMANCE BOND OF 2 PER CENT WILL BE ISSUED AGAINST NON-OPERATIVE DL/C.
8. INSURANCE POLICY OR CERTIFICATE COVERING ATLEAST 110 PERCENT OF THE INVOICE VALUE AGAINST INSTITUTE CARGO CLAUSES (ALL RISKS), WAR, S.R.C.C. THEFT PILFERAGE AND NON DELIVERY, SHORT SHIPENT WITH CLAIMS PAYABLE AT TURKEY. SETTLING AGENT’S NAME AND ADDRESS MUST BE INDICATED (ONE ORIGINAL AND 3 COPIES)
9. CERTIFICATE GACC OF SHIPPER