1 – Buyer issues LOI (Letter Of Intent).

2 – Vaz Ferreira Trading (Export Broker)  issues SCO (Soft Corporate Offer) as the seller’s representative.

3 – Buyer returns SCO signed and stamped.

4 – Buyer issues ICPO (Irrevocable Corporate Purchase Order).  

In the ICPO it is indispensable:

– Buyer’s website,

– Buyer’s corporate email,

– Copy of the buyer’s Passport,

– Bank informations,

– Together with the ICPO, it is indispensable to present a Proof of Funds (BCL or RWA) with a minimum amount equivalent to one remittance,

– For chinese buyers, it is indispensable to present the Import License from the Government of China,

5 – Seller/Exporter issues Draft Contract/SPA.

6 – Buyer returns draft  contract, stamped and scanned  by email and will be considered legal and official  SPA (Sale and Purchase  Agreement) until copies are exchanged.

7 – Seller sends DLC or SBLC model, Proforma Invoice and CIS  with bank details.

8 – Buyer sends the verbiage of DLC or SBLC from his bank for seller to review and approve.

9 – Buyer  returns the stamped and signed Proforma Invoice.

10 – The buyer’s bank issues SBLC or DLC (MT700 or MT760) as a payment guarantee for one month and also issues an MT103 to be used as a payment method. The banking instrument must be transferable, irrevocable, divisible, operational, renewable and confirmed by a top 50 bank. 

11 – 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).

12 – The buyer will receive a letter invitation to accompany the loading  together the port.

13 – Within 30 days the ship will be loaded.

14 – After loading, the seller sends the shipping documents to the buyer’s bank for payment by MT103.

15 – Payment by MT103 effected. 

(If there is no payment  by MT103, the SBLC guarantee is activated automatically)

 16 – Ship release with following shipping documents:

      Commercial Invoice Bill of Lading 

      Inspection Certificate by SGS Weight quality and issued by SGS 

      Origin  Certificate Packing List in Triplicate 

      Phytosanitary Certificate Fumigation Certificate 

      Radiation Free Certificate

      Insurance Certificate

1- All sent documents should be issued on letterhead, stamped and signed by the CEO and in PDF format.
2- 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: