SALES PROCEDURES:
STEP BY STEP
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
NOTE
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: