Procedures

1.         BUYER / BUYER MANDATE ISSUES LETTER OF INTENT

2.        SELLER ISSUES SOFT CORPORATE OFFER

3.        BUYER ISSUES ICPO + BCL 

4.        SELLER ISSUES FCO

5.        BUYER SIGNS AND SEALS AND RETURN FCO

6.        SELLER SENDS THE DRAFT CONTRACT

7.        BUYER  AMENDS,  SIGNS  AND  SENDS  BACK  THE  DRAFT  CONTRACT  TO  THE  SELLER  WITHIN 48 HOURS.

8.        SELLER  RETURNS  AMENDED  DRAFT  CONTRACT  AS  FINAL  CONTRACT  DULY  SIGNED  & SEALED.BUYER  DULY  SIGNS  &  SEALS  FINAL  CONTRACT  AND  RETURNS  BACK  THE  FINAL

CONTRACT TO THE SELLER.

9.        SELLER ISSUES FINAL CONTRACT, AS AGREED.

10.      WITHIN  FIVE  (5)  BANKING  DAYS  AFTER  DELIVERY  TO  THE  SELLER  OF  THE  FINAL  HARD COPY OF THE CONTRACT THAT HAS BEEN SIGNED AND SEALED, THE BUYER OPENS NON-OPERATIVE  SBLC,  FFDLC,  BG  FINANCIAL  INSTRUMENT  IN  THEIR  OWN  BANK  AND THEN  PROVIDES  THE  NON-OPERATIVE  FINANCIAL  PAYMENT  INSTRUMENT  TO  THE  SELLER FOR VERIFICATION, AUTHENTICATION AND CONFIRMATION.

11.       WITHIN  SEVEN  (5)  WORKING  DAYS  OF  RECEIPT  OF  THE  NON-OPERATIVE  FINANCIAL PAYMENT  FROM  THE  BUYER,  THE  SELLER  WILL  POST  2%  OPERATIVE  PERFORMANCE  BOND  AND  PROOF       OF  PRODUCT  BANK  TO  BANK  WHICH  WILL  ACTIVATE  THE  NON OPERATIVE FINANCIAL INSTRUMENT

12.       DELIVERY AND SHIPMENT COMMENCE AS PER SCHEDULE MUTUALLY AGREED.