Terms, conditions, procedures

    • All our offered products are subject to unsold.
    • Our Prices and other provided information – if not part of a full corporate offer – may change without prior notice in accordance with the present market situation.
    • After sending you our price offers we expect your reply within max. five (5) working days. After this time all unresponded offers will be handled as null and void.
    • Only full corporate offers on firm letter head, signed and sealed and with validity date are binding offers. All other offers have to be considered as «soft» price offers which are not binding documents.
    • Being the representation office of manufacturers, exporters, sellers and service providers we are not responsible for any binding offers and other documents. Responsible are only the companies on which firm letter the documents were prepared.
    • Any commission and any commission value which someone may wish or expect from us has to be mutually agreed in advance before we will send you the price offer(s).
    • After a full corporate offer has been issued the commissions and commission values as mentioned above cannot be changed any more.
    • Commissions, if agreed, will be paid to one paymaster which will be responsible for their payment to each of the agents / intermediaries as per own agreement between the paymaster and the agents / intermediaries. The only binding document between ourselves and the agents / intermediaries is the fee protection agreement between ourselves and the paymaster.
    • The paymaster has to sign own agreements with the agents / intermediaries to cover their commission payments and we are in no way responsible for these agreements.

    Terms and conditions
    being valid for our offers and contracts

    PAYMENT (Valuta depending on ORIGIN OF PRODUCT)

    FOR SPOT – QUANTITIES

    • By Irrevocable, Transferrable, Divisible and Confirmed Documentary Letter of Credit opened or confirmed by an acceptable Prime Bank, covering total quantity ordered as Spot-Lot.
    • THE PRICES FOR SPOT-DEALS depend on quantity required and shall be provided upon request.
    • MIN. QUANTITY for SPOT-LOT depending on the product required.

    FOR ANNUAL CONTRACTS

    STANDARD PROCEDURE FOR SALES UNDER CIF TERMS (ASWP)

    TRANSACTION INITIATION

    The Buyer provides the Seller with the following documents:

    • Irrevocable Corporate Purchase Order (ICPO) or Letter of Intent (LOI)+Clients Information Sheet (CIS);
    • Bank Capability Letter (BCL) or Ready, Willing, and Able Letter (RWA) issued and signed by the Buyer’s bank.

    The Seller reviews the ICPO and submits a Full Corporate Offer (FCO) to the Buyer specifying the following:

    • Product quantity and specifications,
    • Price on CIF terms,
    • Port of discharge (ASWP),
    • Payment terms,
    • Delivery schedule and shipping terms.

    The Buyer confirms acceptance of the terms by signing and returning the FCO to the Seller. (The FCO is optional. The Seller may reserve the right to send the SPA directly.)

    CONTRACT

    The Seller prepares and submits a draft Sales and Purchase Agreement (SPA) to the Buyer. Both parties finalize the contract documents, sign them, and exchange them. The contract is registered and submitted to the relevant banks of both parties.

    TERMS OF PAYMENT

    • The seller issues a proforma invoice to the buyer, and the buyer approves the proforma invoice.
    • The buyer sends the seller an mt705 pre-advice (draft DLC) for the invoice amount specified in the proforma invoice.
    • The seller’s bank reviews the incoming MT705 pre-advice and indicates its acceptance via a bank swift message.
    • Upon this, the buyer’s bank exports MT 700 DLC to the seller’s bank.
    • The DLC payment method should be as follows;

    Documentary Letter of Credit (DL/C). By irrevocable, non operative, transferable, divisible and confirmed DLC (MT700) 100% payable at discharge port. DLC should be open and confirmed first class top banks

    • The seller’s bank representative will send a 2% performance guarantee, equivalent to 2% of the DLC shipment value, via SWIFT MT760. Within one week after DLC approval, the seller shares the proof of shipment (POP) with the buyer.
    • Twenty days prior to the loading date, the seller shall notify the buyer of the loading schedule and details. (Optional: The buyer may appoint their own quality and quality control agency at their own expense for a second inspection at the loading port or appoint a representative at their own expense to monitor the shipment at the loading port).
    • The seller brings the stock to the port and loads the goods onto the ship after inspection by SGS. The seller then sends the shipping documents and SGS report to the buyer’s bank electronically (via secure bank email or SWIFT).

    SHIPPING AND DELIVERY

    • After receiving the DLC, the Seller shall coordinate with a logistics company to arrange for the goods to be transported to the port specified by the Buyer.
    • All freight and insurance costs up to the port of discharge are included in the CIF price.
    • The Seller shall insure the cargo in favor of the Buyer for at least 110% of the contract value in accordance with the Institute Cargo

    DOCUMENTS

    Upon arrival of the cargo at the port of discharge, the Seller shall provide the following original documents and/or other necessary documents:

    • Commercial Invoice
    • Clean Bill of Lading (marked “Freight Prepaid”)
    • Vessel Number / Q88 Form
    • Packing List
    • Certificate of Origin
    • Certificate of Quality and Quantity
    • Insurance Certificate
    • SGS Inspection Report
    • Any oher documents specified in the contract or requested in advance by the Buyer or its bank/customs authorities

    FINAL PAYMENT

    • Upon arrival of the cargo at the port of discharge and completion of the SGS inspection (here, the inspection report costs are the responsibility of the buyer), the Buyer confirms the conformity of the goods with the contract terms.
    • Based on this confirmation, MT700 DLC makes the payment within three (3) business days via SWIFT MT103.

     In subsequent shipments, payments are automatically renewed and shipments

    GENERAL INFORMATION

    • We do NOT work in accordance with BUYER’S PROCEDURES
    • CONTRACTS shall be issued upone receipt of BUYER’S ICPO and signed FCO with a BCL
    • NO PAST PERFORMANCE DOCUMENTATION shall be provided – whether sanitized or unsanitized as these documents relate to clients. Nor shall we provide HISTORICAL DATAS from other buyers such as INVOICES FOR PAST SHIPMENTS, REPORTS FROM SGS or other INSPECTION AUTHORITIES, LABORATORY TESTS, CONTRACT-COPIES issued for other clients.
    • PAST PERFORMANCE DOCUMENTS ARE SHARED WITH RECIPIENTS VIA SECURE MAIL ONLY DURING THE SPA SIGNING STAGE.
    • NO SAMPLES shall be provided as no sample will ever be from SAME BAG / BATCH / SILO / CONSIGNMENT OR SHIPMENT. IT DOES NOT NECESSARILY REPRESENT A TRUE SAMPLE WHAT WILL BE SUPPLIED IN A SHIPMENT.