You can see our procedure for the agricultural products you want to buy below.
The buyer shall issue ICPO + BCL upon verification, Seller will issue completed signed/sealed FCO, following by Draft Contract for both parties countersigning.
Within "3" three banking days Buyer shall review, countersign and/or made any necessary Amendments.
Within "7" seven working days from lodging the Agreement in both banks, Buyer’s Bank shall issue the financial instrument must be issued or confirmed and guaranteed by top world prime bank acceptable to Seller .
Within "10" ten banking days of the receipt, verify and authenticate of Buyer’s financial instrument, the Seller shall submit full POP and 2% Performance Bond for the value of the Irrevocable Prime Bank Letter of Credit.
The first shipment delivery within 28 working days from the date of the seller's acceptance of the financial instrument .
(NCNDA/IMFPA) will be endorsed with seller’s and buyer’s bank. Buyer ,Upon vessel arrival at destination port Buyer discharges the product and within 72 hours pays all parties their commissions
In case of CIF request, the freight costs are completely seperate from the goods value. The bank instrument is only issued for the goods value, however the freight cost is paid separately shipment by shipment.