Procedures to buy & terms of payment

Procedures to buy & terms of payment
BUYER SEND THE LOI + ICPO ENDORSED BY BUYER OFFICER’S BANK (SIGNED AND STAMPED) 2- SELLER ACCEPT AND SEND FCO + DRAFT 3- BUYER AND SELLER SIGN CONTRACT 4- SELLER SENDS THE FCO & DRAFT TO THE BUYER AND THE BUYER RETURNS SIGNED AND SEALED. 5- BUYER’S BANK ISSUE MT799 TO SELLER’S BANK AND SELLER’S BANK SEND BACK POP (POF X POF) ALL BY SWIFT BANK TO BANK 6- THE BUYER ISSUE SBLC/ LC (TRANSFERABLE ONLY)/ BANK GUARANTEE OR SWIFT MT103 FOR THE TOTAL OF THE CONTRACT QUANTITY TO SELLER'S BANK ACCOUNT. {THE FORMAT HAS TO BE APROVED BY THE SELLER BANK FROM BUYER’S BANK OTHERWISE CONTRACT WILL BE NULL}. 7- SHIPMENTS START AS PER THE AGREED SCHEDULE BETWEEN SELLER & BUYER.