If you are interested in purchasing the products that we offer, please read the following contract procedure:
- Once the volume, delivery terms and the price are agreed on, we would require LOI and BCL from the Buyer.
- Upon draft contract agreement, a final contract is signed by both parties – the Seller and the Buyer.
- The Seller sends a proforma invoice and the shape of the L/C (if needed) and the Buyer opens the L/C from his bank within 48 hours through a well known world bank. Once the documents are received at the specified bank, we then start the procedure of preparing the goods and the documents.
- Please note, in most cases, we work with once transferable, confirmed, revolving payable on sight L/C opened in favour of a world class bank. The last beneficiary can be mentioned as the cement factory. The reasons for transferrable L/C are: firstly, we need to see Buyer’s method of payment and secondly, the majority of manufactures accept prepayments only. After the first 2 deals, however, we can work on non-transferable L/C.
- If all the conditions in the L/C are met the payment is made upon the final loading of the ship and all of the documents together with the bill of the lading (B/L, Railways Bill or CMR) are presented to the bank (payable on sight).