Commodity: ICUMSA 45
Origin: Brazil
Packing: in 50 kg. net weight bags.
Inspection: SGS at loading port
Performance Bond: 2% (for SBLC and DLC payments only)
Insurance: 110%
Prices: CIF ASWP
Payment: at loading port
1)
- SBLC (MT 760): From TOP 50 bank, 100% Fully Cash-Backed, Irrevocable, Confirmed, Divisible, Transferable / Non-Transferable*, Assignable and Unrestricted, Operative at sight at loading port via MT 760 given as guarantee only and valid for 365 + 1 day. For each month's delivery, within 3 banking days, the buyer pays by MT103/TT against shipping documents as per the contract.
* Non-Transferable SBLC accepted if the seller is the first beneficiary of the instrument.
1. Buyer issues LOI.
2. Seller Representative issues formal SCO.
3. Buyer accepts SCO by signing it and returning it to Seller Representative with ICPO +
NCND / IMFPA.
4. Seller issues FCO.
5. Buyer signs and seals the FCO returning it to the seller along with the legal documents of buyer's company and RWA or BCL issued by
Buyer�?�´s prime Bank nominative to Seller's company, via swift (bank to bank).
6. Seller�?�´s Bank verifies compliance with the Buyers bank and if all is correct, issues the draft contract sending it to the Buyer.
7. Buyer verifies, corrects, signs, seals, and returns the draft contract to Seller.
8. Seller verifies that the contract is approved, signed, and sealed by the Buyer.
9. In 5 banking days, Buyers Bank issues the MT 760 Preadvice SBLC as agreed in favor of the seller.
10. In 5 banking days, Seller´s Bank sends to Buyer´s Bank the POP via swift (warehouse location and product availability, producer identification, laboratory analysis, proforma invoice).
11. In 3 banking days, the Buyer's Bank will issue MT 760 Operative SBLC as agreed in favor of the seller.
12. In 5 banking days, Sellers Bank issues PB 2% (for annual contracts only).
13. Within 20 banking days, Seller issues through a bank the shipment documents (origin certificate, SGS inspection of weight and quality, bill of lading, insurance certificate, commercial invoice, radiation certificate, phytosanitary certificate).
14. In the next 48 hours, Buyers Bank issues the payment instrument MT 103 in favor of the seller.
