1- First note on our page (PRICE LIST), if the prices are in accordance with the target price of your LOI / ICPO.
2- Please note on our page (PRICE LIST) if our bank exigency, form and payment guarantees and other details are in accordance with your pretense.
3- Check the website below and see if the Bank in your LOI/ICPO is in fact TOP prime 50 bank.
4- Note if the PROCEDURES below meet your exigencies.
1 – Buyer issues LOI (Letter Of Intent).
2 – Vaz Ferreira Trading (Brokerage) issues SCO (Soft Corporate Offer) on behalf of the seller.
3 – Buyer returns SCO signed and stamped.
4 – Buyer issues ICPO (Irrevocable Corporate Purchase Order) together with an RWA or BCL.
NOTE : It is indispensable to present the updated proof of funds to proceed with the negotiation.
5 – Seller/Exporter issues FCO- Full Corporate Offer.
6 – The buyer returns the signed FCO and stamped.
7 – Seller/Exporter issues Draft Contract.
8 – Buyer returns draft of signed, stamped and scanned contract by email and will be considered legal and official Sale and Purchase Agreement (SPA) until copies are exchanged.
9 – Buyer sends the verbiage of DLC or SBLC.
10 – The seller returns the above bank instrument with possible changes.
11 – Buyer’s bank issues DLC or SBLC (MT760) as collateral for one month and sends to seller’s bank. The banking instrument must be transferable, irrevocable, divisible, operative, revolving and confirmed by bank top 50. Cash payment by MT103, according to presentation of shipping documents (B/L + SGS).
12 – After the opened bank instrument, seller’s bank send’s to the bank of the buyer the 2% (PB) Performance Bond on value of a shipment and (POP) Proof of Product.
13 – The buyer will receive a letter invitation to accompany the loading together the port.
14 – Within 30 days the ship will be loaded.
15 – Payment against shipping documents according to item 11.
16 – Ship release.
1- The e-mail of the final buyer must be included in the ICPO and must be obligatorily a corporate e-mail.
2- The FCO will be sent to the final buyer’s email with a copy to your intermediary.
3- All sent documents should be issued on letterhead, stamped and signed by the CEO and in PDF format.
4- Documents as LOI/ICPO will be analyzed and only accepted according with the requirements of the seller, such as:
Form of payment,
Form of guarantee,
Target price (According to available offer),
Bank (Prime Top 50),
And other information.
Please find below, model of LOI/ICPO: