Quantity allowed is in multiples of 30,000mt.
- Buyer issue LOI.
- Seller will issue Draft Contract after soft probe..
- Buyer amend contract if necessary.
- Seller issue Final Contract.
- Buyer sign and return, and issue SWIFT MT 705/ Soft POP and invitation to
loading site visit will be given to Buyer.
- Seller issue Non OP PB.
- Buyer: (one of 3 payment terms) to Operate the Non Op PB.
- Loading Port visit.
MT705 is the Pre advise it is: .
- Blocks a certain % of fund during the period.
- Required Non Op PB from Seller or it will expire.
- Upon expiry, the blocked fund will return to Buyer's account.
- Costs a maximum of only up to USD100, It is
the document required so that Seller's Bank can issue the Non Op PB within the expiry time frame for DLC issuance.
- Swift Document Conditional.
- Expire in 7 Days
Payment terms currently accepted:
- Escrow Account.
- Bankers Guarantee / TT.
- Fractional LC (20%/60%/20%).
BG/TT payment scheme.
In the scheme, procedure negotiated
- Buyer produce Draft BG from the issuing Bank.
- Seller provide Soft POP against the Draft BG.
- Seller issue Non Op PB backed by SBLC.
- Buyer issue Actual BG.
Payment by TT schedule:
a: 100% with SGS-CCIC/ OBOL/ Commerical Invoice.
For Fractional LC: SWIFT MT705 required:
a: 20% against clear, notarized, original title to goods (this confirms goods
have actually been pick up for the contract and on their way to port) and shipping advise (which confirms the ship has been
booked will be loaded for the specific contract).
b: 60% against traditional shipping documents at loading port (BL, CCIC Inspection,
Radiation, Origin, etc).
c: 20% against discharge receipt at destination port or unloading port inspection
2. PROCEDURES FOR PURCHASE
OF COPPER CATHODES 99.99%
SENDS LOI. SELLER SEND THE FORMAL OFFER OF THE MATERIAL TO THE BUYER;
BUYER SEND HIS ACCEPTANCE ON FCO
AFTER RECEIPT OF THE LOI SELLER WILL SEND THE DRAFT
CONTRACT COPY TO THE
BUYER FOR THEIR APPROVAL.
4. BUYER SEND
THE SIGNED DRAFT CONTRACT WITH HIS REMARK BACK TO SELLER
FOR FINALISATION OF THE CONTRACT. UPON RECEIPT OF SIGNED FINAL
CONTRACT BY THE BUYER, THE BUYER SHOULD RETURN THE SIGNED CONTRACT BACK TO SELLER AND KEEP ONE COPY
5. AFTER RECEIPT
OF THE SIGNED CONTRACT ,SELLER SHOULD PROVIDE THE FORMAT
OF L/C TO THE BUYER;
6. UPON RECEIPT
OF THE CONFIRMED, IRREVOCABLE TRANSFERRABLE L/C FOR 100% VALUE OF THE MATERIAL AT SIGHT, SELLER PROVIDE