PROCEDURES:
1) Buyer issues "ICPO" (letterhead, stamped and signed) to behalf of our company, specifying, Product, Quantity, Port of Discharge; Payment terms, Buyer's Banking coordinates, along with Copy of company registration and Copy of the responsible person's passport by company. (NO NEGOTIABLE)
2) Within 72hours the Seller issues "FCO" and send for Buyer, If to agree, sign and stamp. (Electronic Signature will be accepted) and return to Seller, deadline maximum of 72hrs.
3) Within 72hours the Seller issues and send the "DRAFT CONTRACT", with the model of Financial Instrument(s); The Buyer, analysis, accept or NO the terms and conditions, make corrections and/or insertions if necessary.
4) The Buyer, rubric on all pages, sign, stamp and return "DRAFT CONTRACT" to Seller by e-mail, deadline maximum of 72hours.
5) The Buyer's Bank, deadline of 72hours, issue a financial capacity proof, "RWA (Ready, Willing & Able) or MT799 or yet BCL (Bank Comfort Letter)" and send a courtesy copy of SWIFT to Seller.
6) Within 72hours, Seller after checking all documents together with the "DRAFT CONTRACT", issue the "Final Contract", and send to buyer by e-mail, the electronic signatures will be accepted until "Hard Copies" to be exchanged.
7) Within 72hours, the buyer return to seller, the final contract signed, stamped and notarized by e-mail, the copy electronic will be accepted until "Hard Copies" be exchanged; The Buyer's Bank issue the Financial Instrument via SWIFT to the Seller's Bank, sending courtesy copy of SWIFT to seller by e-mail.
8) Within ten (10) days, after financial instrument is accepted and blocked, the Seller's Bank issue Proof of Product (POP) via SWIFT for Buyer's Bank.
9) The Seller's Bank issues the 2% PBG, with value of one (01) month of loading to the purchaser's bank, after receiving the operative financial instrument (long-term contract only.
10) Seller starts sending the products within 30/45 days, or before, after having received Financial Instrument, activated.
11) The Seller assumes all shipping cost, insurance and guarantee (CIF) until the vessel arrival in the destination port.
12) All and any additional costs are on the Buyer's account.
The parties agree to maintain strict confidentiality concerning the identities of the parties directly or indirectly involved in this transaction. All data remains the property of the party who has brought the respective data into this transaction.
WARNING
This is a very important message to Buyers and Sellers of any commodity transactions. From this point forward, the International codes will be strictly enforced to include all who provide information and/or documents false, fraudulent or misleading, including but not limited to; NCND/IMFPA - LOI - ICPO - RWA - BCL - FCO - POP, they will be classified as criminals and will be immediately reported to international authorities, they will suffer the penalties of international trade laws.
NO PERFORMANCE PAST
No BL Copies - Considered a violation of privacy and International Law (ICC Rules)
No SGS Reports Past – It is illegal according to ICC Rules
No Photographs – Inventories & stocks are constantly coming in and going out.
No Operative Performance Bond before payment instrument.
No visit to loading port before issuance of payment instrument (contracts only)
No IMFPA before contract closed (accepted payment instrument in place)
Samples are not used for the following reasons: No sample will ever be from the same bag, batch, silo, consignment, order or shipment; Any sample is easily fabricated and does not represent a true sample of what will be received in a shipment.
A sample can easily be damaged by heat, moisture, humidity during
transport, lose some of its oil content, protein content, moisture content
and appearance etc.
Rui L. Rodrigues
Business Coordinator