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Product and Procedures
Product: 42.5 OPC
Price: Quoted based on contract quantity
Origin: Europe
The selling company is here in the U.S. and in Europe. They are the direct seller’s.
Send your ICPO through GSS as facilitator so it can be pre-screened it for acceptability.
Seller’s Terms/Procedures for the buyer’s ICPO.
1. Buyer issues ICPO with bank information addressed to: [will be provided to Buyer].
2. Seller issues a draft contract to Buyer who returns it with changes in red.
3. Seller reviews changes and issues final contract to buyer
4. Within 3 international banking days from receipt of this agreement by the buyer, the Buyer signs, seals, and stamps the agreement, and return it to Seller for his signature, sealing and stamping Signed, sealed and stamped copy shall be returned.
5. After contract is signed Buyer has the right to have their bank officer contact Seller’s bank officer at Seller’s bank in Switzerland for a soft probe to confirm that the Seller is allocator of cement against Buyer’s POF
6. Within 5 international banking days from the receipt of the contract signed by seller, Buyer’s bank will issue to Seller’s bank by SWIFT official SBLC and non-operative RDLC.
7. The SBLC and the Irrevocable Auto Revolving Letter of Credit are to be issued, confirmed and guaranteed by a top 25 world prime bank acceptable to Seller, in accordance with Article 11 A of the agreement.
8. Within 5-10 international banking days of the receipt, verification and authentication of Buyer’s Irrevocable Auto Revolving RDLC and SBLC at Seller’s bank, the Seller will issue a 2% performance Bond letter for the value of the irrevocable Revolving RDLC.
9. The initial shipment of product loads within 30-45 days from the date of receipt of SBLC and RDLC. Payment will be released to the Seller upon negotiation of shipping documents at the Seller’s bank. Partial shipments are allowed.
10. Within 11-days of Buyer and Seller signing the agreement, Buyer will advise the Seller in writing the particulars of the discharge ports relevant to this agreement.
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