TRANSACTION PROCEDURE :

1. Buyer issues ICPO or LOI+ CIS
2. The seller prepares the FCO; the buyer approves the FCO and returns it to the seller.
3. Seller issues draft SPA
4. Parties agree and sign SPA
5. Seller issues Proforma Invoice
6. The buyer returns the signed pro forma invoice. (They email one copy back to the seller. They submit the other copy to their bank.)
7. The buyer selects one of the payment methods listed below and prepares a draft of this payment method in coordination with the seller.(MT705 Pre-Advise or MT799 Pre-Advise)
8. Payment methods are available in the 2 options listed belov.
9. The payment method specified in Options 1 and 2 is received by the merchant’s bank. It is approved by the merchant’s bank, and the process can proceed to the next step.
10. Loading starts as soon as possible
11. After payment procedures (payments are completed in accordance with the payment methods specified in options 1 and 2 belov) and B/L transfer, the vessel go to the discharge port

OPTIONS 1:  MT700 LETTER OF CREDIT  

• By Irrevocable, Transferable, Divisible and Confirmed LETTER OF CREDIT (MT700 L/C)100% payable at port of loading– L/C must be opened and confirmed by first class international bank.
• After loading is completed, MT103 TT cash against all shipping documents at the loading port.
• After payment procedures and B/L transfer, the vessel go to the discharge port.
• 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, the article should be in this form

Confirmed.

OPTIONS 2: MT760 SBLC/BG (365+1DAY)

• After contract, before loading, buyer issues by Irrevocable, Transferable, Divisible, 100% cash/aset backed and Confirmed MT760 SBLC/BG (365+1day) the seller checks with his bank and confirms the receipt
• Ship loading starts according to the loading schedule.
• After loading is completed, the buyer pays 100% against the shipping documents via MT103TT at the port  of loading within 72 hours,.
• After payment procedures and B/L transfer, the vessel go to the discharge port.
• Consecutives shipments will also be paid against all original shipping documents and commercial invoice within 72 hours via MT103TT at the port  of loading.

SHIPING DOCUMENTS

• Three (3) original and Three (3) copies of signed commercial invoices.
• Three (3) original and Three (3) copies of full set of clean on-board, ocean bill of lading (bl) marked “freight pre-paid” issued to the order of buyer.
• One (1) original and Four (4) copies of Certificate of Quality and Quantity inspection issued by SGS.
• One (1) original and Four (4) copies of Certificate of Origin, issued by the Chamber of Commerce and Industry of the Country of Origin
• One (1) original and Two (2) copies of shipping company statement confirming that. The age of the vessel does not exceed twenty (20) years and the vessel is registered under Lloyds registry.
• One (1) original and Two (2) copies of Non-Radioactivity Certificate.
• One (1) original and Three (3) copies of Sanitary Certificate issued by the Brazilian Government Authority..
• One (1) original and Two (2) copies of packing list showing: i) Gross /Net Weight; ii) The number of ocean Bill of Lading.
• One (1) original and Two (2) copies of 110% Insuarance Certificate.
• The seller shall advise the buyer indicating: the vessel’s sailing date; the name, of the nominated vessel and steamship company; reference; telephone numbers of the shipping company or agents;name of ship’s captain; tonnage; length and height of higher portion of vessel; ocean B/L number; contract number; the flag of the vessel, net quantity loaded; number of hatches; number of positions, chambers; estimated time of arrival (eta) at the discharge port etc., one copy of this communication shall be presented as a segment of the document set.
• Certificate GACC of Shipper
• Export Authorization Certificates.
• Covid-19 Test ReportI