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Transaction Procedures

In this section, we outline the seamless and transparent transaction procedures for contract order-based transactions. Discover step-by-step guidance on how we handle contract orders, ensuring a smooth and efficient process from initiation to completion. Whether you're a seasoned client or new to contract orders, our comprehensive procedures make every transaction straightforward and hassle-free.

TRANSACTION PROCEDURES FOR CONTRACT ORDER BASIS

  1.  Buyer submits Letter of Intent.

  2. Seller’s send SCO/FCO to the Buyer.

  3. Buyer signs, stamps and return the SCO/FCO and Buyer issue ICPO along with the BANK CONFIRMATION LETTER (BCL) issued from the WORLD’S TOP 50/100 BANKS ONLY.

  4.  Seller send Sales and draft Purchase Contract (SPA).

  5. Buyer verifies sign and stamp and return the Sales and Purchase Contract after mutual agreeable terms and conditions.

  6. Seller shall verify and if accepted shall sign final contract and returns to buyer, both parties lodge signed SPA contract with their respective banks. The exchange of the contract with the Buyer shall be sent by Electronic transmission, or by courier service.

  7.  Seller issues the Pro-Forma Invoice to Buyer.

  8. Buyer’s bank issues payment instrument SBLC/DLC/LC at sight MT760/MT700 within 07 banking Days against SPA signed. Following the buyer's payment instrument submission and the subsequent confirmation from the seller's bank, the Proof of Product (POP) will be provided.

  9. Loading/Shipment commences after +/- xx days of SBLC/DLC/LC at sight MT760/MT700 confirmed by Seller’s bank after signed SPA and payment shall be made MT103, each shipment will be paid through MT103 at the loading port.

  10. All necessary POP/FOB/CIF documents will be transfer to Buyer upon Loading process at Loading port.

  11.  Subsequently other shipments commence as per terms and conditions of the SPA.

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