KC500/KIMTECH Gloves Offer & SOP
Kimberly-ClarkTM is introducing changes to their Exam Gloves sold in North America:
Kimberly-ClarkTM Brand to KimtechTM Brand
Addition of UDI compliant labels
Product: KimtechTM purple nitrile gloves Size: 10% S / 40% M / 40% L / 10% XL Seller: KimtechTM allocation holder Origin: Malaysia
Price FOB Malaysia: $9.80/box (100 ct.)
Commissions not included. $0.10 cents maximum markup allowed to the buyer side. MOQ: 5 million boxes x 12 months
SOP:
1. NCNDA End buyer and end seller will sign
2. ICPO from buyer addressed to seller
3. SPA issued by Seller
4. Buyer signs SPA and provide draft LC language from tier 1 bank
5. Seller provides diligence documentation showing allocation
6. One-month SBLC or revolving LC to be opened as security for duration of 12-month contract (will be used as last month payment)
7. Payment terms see below
8. Delivery of 5mil boxes per month as per factory schedule
9. Repeat 7 and 8 each month
PAYMENT TERMS - OPTION 1
1. After diligence completed to buyer's reasonable satisfaction, Buyer sends via TT payment for first month of delivery
2. Once goods delivered for that month, Buyer sends via TT payment for next month
3. To be repeated each month
4. Last month paid using security deposit
PAYMENT TERMS - OPTION 2
1. After diligence completed to buyer's reasonable satisfaction, Buyer opens irrevocable transferable revolving LC for 2 months supply.
2. LC is replenished each month after goods for that month delivered for one additional month
3. To be repeated each month
4. Last month paid using security deposit
