1. Buyer accepts seller’s procedure and issues ICPO and POF with full banking details

2. Seller issues Sales and Purchase Agreement (SPA) open for amendment. Buyer reviews, amends (if necessary), signs and stamps the SPA, then return the SPA in WORD FORMAT to seller within 3 working days. Seller sends the final notarized SPA to the Buyer in PDF format. Buyer confirms the final SPA and issues letter of acceptance of the final SPA.
3. Seller issues to the Buyer via email the following PPOP documents:

– Statement of product availability.
– Export License. Certificate of Origin.
– Company Certificate of Incorporation.

4. Buyer’s bank within 7 working days’ issues DLC MT700 or SBLC from ANY TOP 25 BANKS in the world for first shipment’s value to seller’s financial bank to enable seller to commence loading of product with the shipping company. Seller is to finalize loading within Ten to Fourteen working days. If buyer fails to issue DLC MT700 within the given 7 working days, as an alternative, buyer pays 25% value of the product to the seller via MT103.
Seller proceeds with the shipment of the product without any delay, the alternate payment will be deducted from the total value of the product when final payment is made by the buyer after discharge at the port of destination.

NOTE: The 7 days starts immediately the buyer issues out the final and notarized contract.

5. Upon receiving the buyer’s bank financial instrument, seller lodges and activates 2% Performance Bond/Guarantee (PB) in favor of the Buyer WITHIN 48 Hours. If Seller fails to supply the cargo/shipment of the product to the Buyer, this 2% Performance Bond will be paid to the Buyer.

6. Upon seller’s bank successful exchange of instrument method with buyer’s bank, seller loads product within ten to fourteen international working days and seller’s bank sends FULL POP documents to buyer’s bank via bank to bank swift and a copy via email to buyer and representative:

– Copy of Charter Party Agreement(s) to transport the product to Discharge port.
– Company Registered Certificate.
– Fresh SGS Report. Tank Receipt.
– Copy of Vessel Questionnaire 88.
– The Customs formalities, and test report to Buyer’s bank. Product allocation certificate.
– Copy of Bill of loading.
– Certificate of Non-Wooden Product. Copy of Commercial Invoice.
– Notice of Readiness.
– Copy of the port Storage Agreement.
– Product quantity and quality Certificate.

7. Shipment commences as scheduled in the contract and upon arrival of the cargo at the discharge port, buyer’s inspection team carries out CIQ, SGS or equivalent inspection to ascertain quality and quantity.

8. Seller sends hard copy of all registered documents through courier service and signs NCNDA/IMFPA between all intermediaries involved with the notarized copy sent to Buyer’s bank.