​​ BUSINESS SALES PROCEDURES

1) Buyer confirms offer and issues an LOI (I have the LOI in hand and will be sent to serious inquirers).
2) Seller confirms/approves LOI and issues FCO.
3) Buyer signs and returns FCO.
4) Seller issues draft contract open for amendments and modification if any both parties sign and seal's contract and endorse with authorities concerned.
5) Seller issues draft contract to buyer
6) Final contracts is signed and exchanged via fax or email and/or hardcopies.
7) Buyer makes payment 15% of the total invoice value to enable seller procure and store order at warehouse (Open a standby letter of credit MT760 for the contracted value)
8) Buyers will conduct the inspection at warehouse.
9) All storage costs at warehouse will be borne by buyer.
10) Buyer makes another payment 15% by TT within 72 hours/3 working days against full set of shipping documents and SGS/AHK inspection reports and final payment 70% once the container vessel is in the water heading to delivery destination one (1) week before arrival.
11) Subsequently monthly deliveries follow as contract.


OTHER CONSIDERATIONS
A. Terms and conditions are negotiable 
B. Offer Validity Seven (7) Business days From Date of Issued And Will Be cancelled In Case of Delay in intiating Transaction
C. All Past Performance Are Avialable For Presentation Only At Seller's Office
  
1. PAYMENT TERMS:
((T/T (MT103), SBLC (MT760) ). 
 
2. PRODUCT DOCUMENTATION PER LIFT: 
A. 3/3 SET OF BILL OF LADING, “CLEAN ON BOARD” AND MARKED “FREIGHT PREPAID” (3 ORIGINALS + 3 COPIES).
B. CERTIFICATE OF WEIGHT & QUANTITY ISSUED BY APPROPRIATE OR COMPATIBLE AUTHORITY. THIS AUTHORITY MUST BE CIQ .
C. CERTIFICATE OF ORIGIN, ISSUED BY THE CHAMBER OF COMMERCE OF THE COUNTRY OF ORIGIN.
D. SIGNED COMMERCIAL INVOICE ISSUED IN 03 ORIGINAL AND 03 COPIES SHOWING COMMODITY, WEIGHT, QUANTITY, UNIT PRICE, AMOUNT, CONTRACT NUMBER AND INVOICE NUMBER.
E. PACKING LIST WITH INDICATION OF TOTAL GROSS WEIGHT AND TOTAL NET WEIGHT OF SHIPPED GOODS IN 03 ORIGINAL AND 03 COPIES.
F. CONFIRMATION LETTER ISSUED BY THE SELLER ADVISING THE SHIPMENT PARTICULARS INCLUDING B/L NUMBER AND DATE, QUANTITY SHIPPED AND TOTAL VALUE, VESSEL’NAME, AGE AND FLAGS, ETD LOADING PORT AND ETA DISCHARGING PORT, ETC.
G. COURIER RECEIPT IN WHICH PROVED THAT ONE SET OF SHIPPING DOCUMENTS IN ORIGIN HAS BEEN SENT DIRECTLY TO BUYER’S OFFICE.
H. A BRIEF PROTOCOL SIGNED BY THE BUYER’S REPRESENTATIVE AND THE SELLLER [OR HIS REPRESENTATIVE] AT THE LOADING SIGHT IN WHICH THE BUYER’S REPRESENTATIVE AND THE SELLER BOTH CONFIRM THEY PERSONALLY SAW THAT THE PRODUCT WAS LOADED. 
If The buyer need to test the goods two times more, One time in factory , other one at loading , The buyer need to bear the test cost .
 
3. PRODUCT INSURANCE: 
THE SELLER SHALL PROVIDE INSURANCE COVERAGE OF 110% FOR THE VALUE OF EACH SHIPMENT AT SELLER’S SOLE EXPENSE AND RESPONSIBILITY, IF BUYER REQUESTS IT (IF USED “CIF” TERMS).
 
4. DEMURRAGE:
AT THE LOADING PORT IT IS ON SELLER’S ACCOUNT. AT THE DISCHARGE PORT SELLER PROVIDE 9 DAYS FREE TIME FOR DEMMURAGE FOR BUYER.
 
5. IMPORT FACILITIES, DOCUMENTS, TAXES AND FEES:
ALL TAXES OR LEVIES IMPOSED BY THE COUNTRY OF DESTINATION HAVING ANY EFFECT ON CONTRACT ARE ON THE BUYER’S ACCOUNT AND HIS SOLE RESPONSIBILITY.
BUYER MUST HAVE ALL IMPORT PERMISSIONS AND PERMITS IN WRITING, AND COPY SENT TO SELLER.
BUYER BEARS THE SOLE RESPONSIBILITY OF SECURING ALL PERMITS, LISCENSES OR ANY OTHER DOCUMENTS REQUIRED BY THE GOVERNMENT OF THE IMPORTING NATION. SELLER WILL BEAR NO RESPONSIBILITY TO PROVIDE SUCH DOCUMENTATION. BUYER WILL BEAR ALL COSTS ASSOCIATED WITH SECURING SUCH DOCUMENTS AND WILL ALSO BEAR ALL COSTS AND PENALITIES IF SUCH DOCUMENTS ARE NOT SECURED. IN NO CASE SHALL THE SELLER BE HELD LIABLE FOR MISSING OR
IMPROPER DOCUMENTATION THE BUYER IS REQUIRED TO PROVIDE.
Only CIF ASWP deliveries).No  PERSONAL BOND