Transaction Procedure

The Global trade involves over trillions of USD annually ; its important to safeguard the sellers from scammers and protect also the buyers from fraudulent  sales . 

Hence ICC ( international Chamber of commerce ) have tested guidelines to do such transaction. As a buyer and seller ; its advisable to follow those guidelines for safety and security of the transaction.

FBI ( Federal Bureau of Investigation ) is directly involved in monitoring such trade ; hence a buyer / or seller always can report to FBI if at any point they found being scammed. A link of FBI information is there insight section.. 

Initiating a trade Inquiry 

For International buyer ; delivery either ; (FOB or CIF) Incoterms 2.010.

The offer is short or long term contracts to meet the specific demands of buyer's company.

 

For general inquiries; please fill following info below in buyer's letter head and should include followings; 

 

BUYER DETAILS : 

  1. Company: Representative: E-mail: Telephone:

  2. Commodity (Product)

  3. Specifications:

  4. Packing (Bulk) / Bag / Container

  5. Shipment (Month) / Quantity

  6. Total Quantity :

  7. Contract or Spot:

  8. Delivery Type (FOB, CIF)

  9. Destination Port:

  10. Country:

  11. Preferred country of Origin if any 

  12. Shipment (12 shipments)

  13. Target Price if any:

  14. Type Currency ($ / €)

 

FOR INTERMEDIARY /BROKERAGE COMPANY:

  1. Representative: E-mail: Telephone:

  2. Commissions expected

 

PAYMENT PROCEDURE:

  1. Mention LC/ SBLC/ TT / Cash & Carry - Whichever applicable

  2. Bank Name:

  3. Country of Bank location

  4. Swift Code:

 

Commercial Department will send you the  best offer as soon as possible.

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Transaction Process

   FOR  GENERAL) FOR INTERNATIONAL TRANSACTION :

  1. Buyer issues the LOI / or ICPO   ( BANK APPROVED )  

  2. Seller sends SCO / or FCO

  3. Buyer signs and sends the FCO/ or SCO back to seller

  4. Important step; either of the documents is a must before we move to payment and contract procedure :  Buyer issues BCL (As fund proof )or any previous import record as proof of their trade capabilities or some trade permit copy issued to them from respective country Government to importer a large company, who has authorized them to do the negotiation on behalf of them.  

  5. Seller send draft contract for negotiation and to show his approval / Or issues proforma invoice ( as applicable)

  6. Buyer agrees on draft contract/ or proforma invoice  and with the draft of letter of credit or bank acceptation.

  7. Seller sends the original contract.

  8. Contract to be verified by the seller and buyer, and signed the electronic version.

  9. Buyer’s bank sends the pre-advice  ( draft LC copy ) within 5 working days to seller’s bank for acceptance.

  10. Seller’s bank confirms within 5 working days the acceptability of the terms and conditions of the Letter of Credit otherwise advise the amendments, if any.

  11. Buyer issues the operative LC/ DLC/SBLC  to seller’s bank within 7 banking days.

  12. Seller conduct the Inspection ( SGS / or similar) at port of loading.

  13. Load the cargo and;

  14. Seller send original shipment documents to the buyer’s bank and buyer

  15. Bank will send 100% invoice value via mt103 / or similar instrument to seller’s bank

  16. Steaming of the vessel./ Or loading the Air cargo

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