1ª. The Buyer sends LOI (Letter Of Intent) or ICPO (Irrevocable Corporate Purchase Order) + BCL (Bank Comfort Letter)+ RWA (Ready Willing and Able) + NCNDA (Non-Circumvention, Non-Disclosure working Agreement) + IMPFA (Irrevogable Master Fee Protection Agreement) + Passport copy of Buyer and Intermediaries.
2ª. The seller after receiving ICPO + RWA + BCL, assess the financial strength of the buyer, at its own expense.
3ª. If the buyer is approved, the vendor will formally "FCO (Full Corporate Offer) or" Draft "(Draft Contract) and will allow the programming to provide the product.
4ª. After the "Contract" signed by the parties, the seller sends the "Invoice (Invoice) to the buyer request the issuance of "LC" (Letter of Credit)*.
#. The "LC" (Letter of Credit) is an agreement whereby a bank, acting at the request of an importer and in accordance with the instructions under the contract, undertakes to make a payment to an exporter against presentation of a series of documents and procedures required within a specified time limit, provided they comply with the terms and conditions of credit. The "LC" in principle may be issued as non-operational and will be activated later in the presentation of "POP" (Proof of Product).
5ª. The seller sends the "2% PBG (Performance Bond) to the security of the buyer. It is a guarantee which ensures that the vendor will comply with the terms of the contract. Typically issued in value of the shipment, in case the vendor break the contract and do not supply the product that was stipulated in the contract. A "PBG 2%" is only enabled after the "LC" (Letter of Credit) issued by the buyer's bank is approved. This approval is made between banks via "SWIFT".
6ª. Payments will be by Irrevocable, LC (Letter of Credit), transferable, confirmed, unconditional, irrevocable, divisible, active, operative and issued by one of the Top 50 World Banks, fits within the Contract. Payments auto rotating 100% will be released to the seller at the destination port via POP, the amount of each BL (Bill of Landing), SGS (Quality Certificate) or equivalent international certification, together with all documents and export procedures as detailed in the contract.
* WARNING *
SAMPLES OR VISITS: Are not available or planned. The ultimate proof of the product is provided by PRIME BANK seller, stating that the same will be delivered according to specifications in the contract.
PROOF OF PAST PERFORMANCE: Our suppliers will NOT provide historical data such as invoices for shipments in the past (BL's), invoices from shippers, reports from SGS, lab tests, Performance Bonds, POP's, Contracts, etc.., Or any such document which may be plagiarized or falsified by others.