PROCEDURES AND TERMS
1. The buyer
issues an Irrevocable Corporate Purchase Order
(ICPO) with full banking
details and with soft probe authorization or a Letter of Intent
(LOI) with Bank Comfort
Letter (BCL) by swift and
NCNDA signed.
2. The
seller issues a Full Corporate Offer
(FCO) to the buyer.
3. The
seller issues a draft contract to the buyer.
4. The buyer
return revised draft contract to the seller via, fax or email.
5. The
seller reviews and confirms any changes made in draft contract
by the buyer. If the seller agrees to the changes made by
buyer, the seller issues the final binding contract via fax or
email.
6. The buyer
returns the final agreed contract duly signed and sealed via
email or fax.
7. The
seller will then scan the fully signed, sealed and initial the
contract and email or fax the “soft copies” to the buyer.
8. The
seller will issue to the buyer four (4) original hard copies of
the contract via courier to buyer’s address as stated in the
contract.
9.
Immediately upon receiving the seller’s signed and sealed hard
copies of the contract via courier the buyer will personally
sign and seal the 4 hard copies and return two (2) originals by
courier to the seller.
10. Within
seven (7) working days of the buyer receiving the seller’s
signed and sealed hard copies of the contract via courier the
buyer will open a non-operative payment instrument to the
seller’s bank in exchange for Proof of Product (POP) bank to
bank which will automatically activate non-operative instrument
into operative.
11. The
seller will, within five (5) working days of receipt of an
acceptable operative payment instrument, provide the buyer with
a 2% performance bond against confirmed value of monthly
shipment.
12. Shipping
of the product will commence within thirty to forty-five
(30/45) days from date of seller’s receipt of the
acceptable operative payment instrument.
