Sugar Mill Supply Process No Steps Bypassed
TERMS, PROCEDURE, PAYMENT & DELIVERY
Proof of Funds Submission
Within 5 banking days after all parties electronically sign this FCO, the Buyer must provide Proof of Funds (RWA, BCL with full bank responsibility, or MT799 SWIFT) via Bank-to-Bank Secure Email or as mutually agreed. A copy must also be sent to the Sellers legal/financial department.
SPA Issuance & Review
Upon bank verification of funds, the Seller will issue the SPA (Sales Purchase Agreement) with room for minor amendments, if necessary, and send it to the Buyer for review.
Partial Proof of Product
Within 5 days of SPA approval, the Sellers bank or lawyer will provide the following notarized documents to the Buyer:
Certificate of Origin
Commitment to Supply
Proof of Product Existence
Final SPA & Digital Signing
Buyer submits amendments (if any). Seller finalizes the SPA and initiates a DocuSign or similar system for all parties to sign.
Issuance of SBLC (MT760)
After SPA is signed, the Buyer issues an SBLC (MT760) within 5-7 banking days to the Sellers designated bank account.
Performance Bond Issuance
Upon verification of SBLC, the Seller provides a 2% Performance Bond within 5 banking days.
Logistics & Shipment
Within 20-30 banking days, the Seller initiates packaging, inspection, loading, and shipping. Buyer may attend the inspection and unloading.
Payment & Ownership Transfer
Buyer receives original supply documents via their bank and an emailed copy.
Buyer instructs MT103 payment upon receipt of agreed documents.
Payment must be received within 3 banking days.
Once Sellers bank confirms payment, ownership transfers immediately, and a Certificate of Title Transfer is issued.
Ongoing Deliveries & Contract Completion
This process repeats until the contract is fulfilled.
Seller pays intermediaries through a paymaster (preferred).
DOCUMENTS PROVIDED FOR PAYMENT (3 Originals & 3 Copies)
Bill of Lading (marked "Prepaid Freight" & consigned to Buyer)
Commercial Invoice (signed & stamped)
SGS or Equivalent Inspection Certificate (Weight, Quality, Packaging)
Insurance Certificate (110% coverage from a Top 25 Insurer)
Certificate of Origin (Issued by the Chamber of Commerce, confirming Brazil origin)
Certificate of Fumigation & Radiation
Product Specifications:
Polarization: 99.80° min.
Ash Content: 0.04% max.
ICUMSA: 45 RBU
Solubility: 100% dry & free-flowing
Color: Sparkling white (Max 45 ICUMSA units)
Moisture: 0.4% max.
Magnetic Particles: 4Mp/k
SO: 70 Mg/kg max.
Reducing Sugar: 0.05% max.
Sediments: None
Crop Year: 2023 or newer
Serious buyers only.
