Non negotiable conditions
LOI and bcl of a top prime bank must be issued first.
LOI not older than 5(five)days.
L/c must be issued or confirmed by a op u. S. Bank or the u. S. Branch of a top 50 world bank or a top 25 western Europe bank at the buyers cost.
L/c must be irrevocable confirmed transferable.
L/c must be negotiated without delay along with shipping documents.
Performance bond cannot exceed 2% of shipment cost in any case.
Performance bond is to be opened after non-operative L/c.
Activation of the performance bond activates L/c.
Inspection by sgs or the similar at the sellers cost.
No deviations from these policies will be entertained.
1. The buyer issues the complete and updated LOI and bcl.
2. The seller issues the draft contract in favor of the buyer
3. The buyer returns the draft contract to the seller, via fax or email, duly signed and sealed within 5 days after receipt. All changes must be made at the same time.
4. The seller reviews and confirms any changes made in the draft contract, if in agreement, the seller issues the final contract.
5. The buyer returns the final contract to the seller, via fax or email, duly signed and sealed within 5 days after receipt. Along with the draft contract the buyer sends the draft copy of the proposed text of the letter of credit for the sellers approval.
6. The buyers bank sends proof of funds(pof)to the sellers bank.
7. The sellers bank sends proof of product(pop)to the buyers bank and draft pb to the buyer.
8. The buyers bank issues a non-operative, confirmed letter of credit to the sellers bank.
9. The seller issues a non-operative 2% pb in the form of a standby letter of guarantee/credit.
10. Activation of the pb automatically activates the L/c.
11. Delivery and shipment commence as per mutually agreed schedule.
Delivery:30/45 days after the sellers bank acceptance of the banking financial instrument issued by the buyers bank.
Please, initiate the purchase process only if in agreement with the terms and conditions of this offer.
Sales Terms & Specifications:
|Price Terms||FOB / CIF / EXW(Factory Price)|
|Terms Of Payment||T/T, Western Union, PayPal, L/C at sight|
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