NON-NEGOTIABLE PROCEDURES: FOR OTHER COUNTRIES

1. Issuance of the LOI (Letter of Intention)
The buyer issues the Letter of Intention, formalizing their interest in purchasing.

2. ICPO (Irrevocable Corporate Purchase Order)
The buyer sends the Irrevocable Corporate Purchase Order, confirming their intent to purchase the goods or services under specific conditions.

3. Issuance of the F.C.O. (Full Corporate Offer)
The seller issues the Full Corporate Offer (F.C.O.), detailing the terms of the sale.

4. Buyer Signs and Returns the F.C.O.
The buyer signs the F.C.O. and returns it to the seller.

5. Preparation and Submission of the S.P.A. (Sales Purchase Agreement)
The seller prepares the Sales Purchase Agreement (S.P.A.) and sends it to the buyer for review and signature.

6. Submission of Proforma Invoice
The seller sends the Proforma Invoice along with the signed agreement.

7. Issuance of the Financial Instrument
The buyer has three (3) business days to initiate the banking process and issue either a Standby Letter of Credit (SBLC) or a Documentary Letter of Credit (DLC).
The buyer must send the full text of the SBLC or DLC to the seller.

8. Performance Bond Issuance
The supplier’s bank will issue a Performance Bond in favor of the buyer, valued at 2% of the monthly commercial invoice. The bond will remain valid for the contract’s duration.

9. Export Process Initiation
Upon confirmation of the SBLC or DLC by the seller, the export process begins.

10. Payment of Goods at Port of Origin
The buyer will make payment via bank transfer (MT/103) to the seller’s bank after the ship is loaded, against presentation of Bill of Lading (BL) and SGS inspection documents.