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Copyright © 2004-2006 CFC Global Trade
Last modified: 01/02/2008
Copyright © 2004-
Last modified: 01/02/2008
The buyer request and receives a "Soft Quote" for the product. The buyer issues his LOI to the seller with BCL (Bank Comfort Letter) attached (or soft probe authority duly signed).
1. The buyer issues a letter of intent.
2. The seller issues a full corporate offer or a draft contract.
3. The buyer reviews the full corporate offer and signs, stamps and returns the document indicating that they accept the offer and its terms and conditions. BUYER ISSUES DRAFT L/C TEXT.
4. The seller issues draft contract. The buyer signs, stamps and returns the contract WITHIN 5 BUSINESS DAYS. This indicates that they accept the contract and its terms and conditions. Any facsimile or electronic copies shall be considered as the original.
5. WITHIN SEVEN (7) BANKING DAYS OF CONTRACT signature, the buyer issues a non-operative L/C as per the terms of the contract and draft L/C text.
6. WITHIN SEVEN (7) BANKING DAYS of receipt of non-operative L/C, seller posts 2% performance bond.
7. Delivery and shipment commence as per the terms and conditions of the contract.
CHANGES IN THE ABOVE PROCEDURE WILL NOT BE ACCEPTED.
BY SIGNING THE FULL CORPORATE OFFER THE BUYER AGREES THAT THEY ARE WILLING AND ABLE TO FOLLOW THE PROCEDURE AS OUTLINED ABOVE WITHOUT EXCEPTION.
2. The seller issues a full corporate offer or a draft contract.
3. The buyer reviews the full corporate offer and signs, stamps and returns the document indicating that they accept the offer and its terms and conditions. BUYER ISSUES DRAFT L/C TEXT.
4. The seller issues draft contract. The buyer signs, stamps and returns the contract WITHIN 5 BUSINESS DAYS. This indicates that they accept the contract and its terms and conditions. Any facsimile or electronic copies shall be considered as the original.
5. WITHIN SEVEN (7) BANKING DAYS OF CONTRACT signature, the buyer issues a non-
6. WITHIN SEVEN (7) BANKING DAYS of receipt of non-
7. Delivery and shipment commence as per the terms and conditions of the contract.
CHANGES IN THE ABOVE PROCEDURE WILL NOT BE ACCEPTED.
BY SIGNING THE FULL CORPORATE OFFER THE BUYER AGREES THAT THEY ARE WILLING AND ABLE TO FOLLOW THE PROCEDURE AS OUTLINED ABOVE WITHOUT EXCEPTION.
WE ACCEPT: FFRDLC, SBLC WITH ASSURANCE FOR THE TERM OF THE CONTRACT. THE TEXT OF THE L/C MUST BE APPROVED BY THE SUPPLIER. PLEASE SEE THE PAYMENT METHOD DOCUMENTATION AND THE ADDENDUM C DOCUMENT.
SOME SELLERS WILL ACCEPT NONTRANSFERABLE L/C. PLEASE DETERMINE THIS BEFOREHAND.
Procedures