Procedures:
1.Seller issues the FCO
2.Buyer provides ICPO
3.Seller sends DraftContract. Parties sign contract & exchange hard copies.
4.Buyer provides Proof of Funds.
5.Seller invitation to inspect the commodity in the warehouse.
6.After receipt of POP,Buyer provides a format of LC to Seller’s approval.
7.Within 10 days after receipt of the operative LC,Seller provides 2%Performance Bond.
8.After issue of LC the buyer has the right to inspect the warehouse.