Doing Business With Us
A Letter of Intent (LOI) on Buyer’s official Letterhead endorsed by L/C issuing bank confirming the availability of funds is a MUST to initiate the transaction.
Click here for a Letter of Intent Sample
If (for one reason or another) the Buyer was not able to endorse the LOI, then a Bank Comfort Letter BCL must be attached to the Letter of Intent (LOI).
Click here for a Bank comfort Letter Sample
Bank soft probe will not be possible due to the fact that prime banks never reveal their clients accounts status.
Buyers can set their TARGET PRICE in the LOI, BUT the actual transaction price would be set forth in our Full Corporate Offer FCO. This Actual Price is subject to Buyers approval or denial without any commitment on their part.
1. For individual shipment:
By Fully Funded Stand-By Letter of Credit established by Buyer's bank.
The Letter of Credit must be confirmed by a Prime World Bank and read as irrevocable, transferable, divisible, unrestricted, and unencumbered for entire shipment, valid for 75 days from confirmation date and payable 100% at sight upon presentation of shipping documents at seller's bank counter.
Click here for a Stand-By Letter of Credit Sample
2. For frequent shipments:
By Fully Funded Auto Revolving Documentary Letter of Credit established by Buyer's bank.
The Letter of Credit must be Confirmed by a Prime World Bank and read as irrevocable, transferable, divisible, unrestricted, unencumbered allowing a frequent shipments of (000000MT) monthly, valid for (000 days) from confirmation date and payable 100% at sight upon presentation of shipping documents for every shipment at seller's bank counter.
Click here for a Revolving Documentary Letter of Credit Sample
- NO Performance Bond will be applied for ALL Products from U.S.A..
Other Product:
- Agricultural & Industrial Commodities: 2% of first shipment value.
- Consumer Products: No performance Bond
Click here for a Performance Bond Sample
Each shipment shall be provided with an inspection of weight and quality at the time of loading. Such certificate shall be provided by SGS or by an appropriate organization at seller's expense at Port of loading (mandatory) which shall be deemed to be final, and at buyer's expenses at Port of discharge (optional).
The seller will advise the buyer of the name of the Vessel, the flag of the Vessel and the vessel's position and specifications including number of winches, derricks and hatches within 7 (seven) working days from the date of receipt the letter of credit and / or no later than 12 (twelve) days prior to the vessel's arrival at the port of discharge.
All supervision and taxes or levies at the port of loading are for the Seller's account.
Vessels must be classified at 100-A-1 in the Lloyds Registration or be of an equivalent classification, chartered vessels must not be older than (20) twenty years. No later than 72 (seventy two) hours from the completion of loading, the seller's agent shall Telex, Fax or e-mail the buyer of the vessel's sailing date and the expected time of arrival at the port of destination. Seller shall also inform the buyer of the vessel's name, vessel's capacity, number of hatches, at completion of loading, the seller shall notify the buyer of quantity loaded per chamber and the quantity shipped. The buyer has the option to have a representative at loading /discharge of the vessel at buyer's expenses.
The vessel's master is to advise the Buyer's agent at port of discharge the vessel's name, date of arrival, vessel capacity, number of hatches, number of cargo chambers, quantity loaded per cargo chamber and the particulars of the vessel's readiness to effect cargo operations through all hatches.
The vessel's master shall give 7 (seven) days provisional notice and 72, 36 and 24 hours final notice of the vessel's estimated date of arrival at port of destination of the Buyers agent at the port of discharge. Such notices shall be affected during normal business hours and whether in berth or not Lay time shall commence from 1.00PM if vessel notices of readiness to discharge is given prior to noon time, and from 8.00AM of the next working day if notice is given in the after noon. If the port is congested lay time is to commence 24 (twenty four) hours after notice of readiness is given. The Buyer is responsible for the commodity discharge. If the port of discharge has lower average discharge rate, the average shall be adjusted according to the port's capacity. The time from 13:00 PM hours on Saturday to 8.00 AM hours on Monday and from 17.00 PM hours on the day preceding to 8.00 AM hours on the day succeeding any holiday are excluded even if used, should the vessel be discharged at the rate less than the average, the Buyer shall pay to Seller demurrage at a rate stipulated in the Charter Party Agreement per running day and a prorated share for any portion of any running day.
Should the vessel discharge at a rate greater than the average, the seller shall pay to the buyer a compensation for speedy discharge at a rate stipulated in the Charter Party Agreement per running day and a prorate share for any portion of any running day. It is agreed that demurrage be settled by the vessel's master and the buyer's shipping agent within 10 (ten) days from the receipt of the vessel's master invoice. All taxes and levies, and port duties imposed by the country of origin, having any effect on the contract are for the Seller's account and his sole responsibility.
All taxes and levies, and port duties imposed by the country of destination, having any effect on the contract are for the Buyer's account and his sole responsibility.
Should the vessel be required to shift one berth for another port of discharge by the Buyer’s Request, said expenses are for the Buyer's account and his sole Responsibility.
In the event of delayed delivery Seller shall pay to the Buyer an amount equivalent to 0.5% (zero point five percent) of the shipment value for every (10) ten days delayed. The maximum amount payable shall not exceed 1% (one percent) of the total value of the goods. Buyer is authorized to claim on the insurance policy in the event of non- delivery and Seller agrees to support Buyer's claims by providing all documents required for the processing of such claims.
- "Clean on Board " Ocean Bill Of Lading marked "freight prepaid " (3) three original and (3) three copies.
- Commercial Invoice for total value of the shipment, (1) one original and (3) three copies.
- Packing List, (1) one original and (3) three copies.
- Certificate of Origin, (1) one original and (3) three copies
- Inspection Certificate issued by the inspection company in loading port for quality, quantity and proper packing, (1) one original and (3) three copies.
- Phytosanitary Certificate "Fit For Human Consumption ", (1) one original and (3) three copies for all Agricultural Commodities.
- Radiation Certificate showing that the radiation element is normal, (1) original and (3) copies.
The contract will be governed, and interpreted in accordance with the United Nations convention for international sale of goods (UN Convention) in the event of inconsistency between the contract and the provisions of the UN convention.
The contract shall further be construed in accordance with the courts of the United States of America applying ICC rules.
If any provisions of the contract is held to be invalid, illegal or unenforceable, the validity, and / or enforceability of the remainder of the contract shall be in force, as such provision was not part thereof.
The contract parties agree to settle all discrepancies amicably. If the settlement is not reached, the dispute in question shall be submitted to arbitration in (Paris / France). The findings in accordance with the ICC arbitration rules shall be considered as final, irrevocable and binding upon both parties.