TRADING PROCEDURES

BUYER:
The following steps are designed to ensure the expedition of the trading activities. 
Step 1: Due diligent enquiry.
You buyer can have a choice (either method):
1    Conventional method:

.      Corporate Letter of Intent or Irrevocable Corporate Purchase Order (ICPO).
       Bank Comfort letter. 

II.                 Flexible method:

Corporate profile
Audited financial statements in the last 3 years or annual reports
Permit/ License to import such commodities.
Proofs of capability to complete transaction:

Step 2: Contract and verification (Seller will do step 2) 

I. You will be provided a FCO (Full Corporate Offer).
Once FCO is received, with full details and signature, a contract with details will be forwarded:

1.      Contract
2.      POP
3.      Schedule of delivery
4.      Proof of ownership if applicable
5.      Permit/ License for export 

Step 3: Payment: (Buyer and seller will do step 3 respectively)

1.      Buyer shall open a banking instrument as defined in the contract and advise the seller accordingly.
2.      Seller shall open a Performance Bond to activate the banking instrument.

 Step 4: Shipment: (Seller will do step 4)

1.      Delivery shall commence by shipping company as per contract.
2.      Quality control or expert valuation report

 Step 5:: Conclusion of contract. (Banks will do the rest)

a.       Both parties executed the payment and ownership proof bank to bank.