Trading procedure

1. BUYER ISSUES LOI. SELLER SENDS FCO AND THE BUYER APPROVES AND RETURNS FCO TO THE SELLER.

2. SELLER ISSUES THE DRAFT CONTRACT FOR REVIEW, MEDIATION, SEAL, DATE AND EXCHANGE BY E-MAIL FIRST. BUYER’S APPROVED COPY OF THE RETURNED DRAFT CONTRACT MUST BE ACCOMPANIED BY A DRAFT COPY OF THE FINANCIAL INSTRUMENT THAT WILL BE ISSUED

3. SELLER AND BUYER EXECUTE FINAL CONTRACT: SELLER SENDS FINAL CONTRACT ELECTRONICALLY IN PDF FORMAT. AN ELECTRONICALLY EXECUTED FINAL CONTRACT CAN STAND AS ORIGINAL. CONTRACT IS LODGED WITH THE BUYER’S AND THE SELLER’S RESPECTIVE BANKS.

4. BUYER’S BANK CONFIRMS PAYMENT EITHER BY LC / TT / BG AGAINST INVOICE TO SELLER FOR THE SHIPMENT IN FAVOR OF THE SELLER AT SELLER’S BANK.

5. SELLERS BANK PRESENTS SHIPPING DOCUMENTS AND ORIGINALS TO BUYERS BANK IN ORDER TO REQUEST PAYMENT.

6. APPROVED INSPECTION AGENCY APPOINTED EITHER BY BUYER OR SELLER INSPECTS THE SHIPMENT AT THE PORT OF LOADING AND BUYER IS ENTITLED TO BE PRESENT

7. SHIPMENT STARTS WITHIN 25-30 DAYS AFTER INITIAL DEPOSIT/ LC ACCORDINGLY CONFIRMED AT SELLERS BANK AS PER DELIVERY SCHEDULE AGREED IN THE CONTRACT

SHIPPING DOCUMENTS
– SELLER’S COMMERCIAL INVOICE
– PACKING LIST
– CERTIFICATE OF ORIGIN
– BILL OF LADING MARKED “FREIGHT PREPAID”
– CERTIFICATE OF QUALITY
– CERTIFICATE OF QUANTITY
– CERTIFICATE OF ORIGIN
– CERTIFICATE OF INSURANCE
– PHYTOSANITARY CERTIFICATE