Terms & Prices

SALES PROCEDURE:

1- ) BUYER SEND LOI (LETTER OF INTENT) OR REQUEST LETTER

2- ) SELLER SENDS FCO, BUYER CONFIRMS THE FCO (OPTIONAL)

3- ) CONTRACT PERIOD

    3-1- ) SELLER SENDS DRAFT CONTRACT.

    3-2- ) SELLER AND BUYER AGREE UPON DRAFT CONTRACT CONDITIONS.

    3-3- ) SELLER AND BUYER WET SIGN AND SEAL THE CONTRACT FORMALLY.

    3-4- ) WET SIGNED AND SEALED DRAFT CONTRACT IS ACCEPTED AS FINAL CONTRACT.

4- ) SELLERS ISSUES PROFORMA INVOICE. BUYER CONFIRMS THE PROFORMA INVOICE

5- ) BUYER OPENS THE L/C TO SELLER’S BANK 

PAYMENT TERMS: BY IRREVOCABLE TRANSFERABLE CONFIRMED LC (DOCUMENTARY LETTER OF CREDIT OR RED CLAUSE LETTER OF CREDIT) AT SIGHT WITH REIMBURSING BANK. THE PAYMENT WILL BE HONORED BY THE BANK OF REIMBURSEMENT UPON RECEIPT OF THE TELEX MT PAYMENT IN A MAXIMUM 3 WORKING DAYS. (IN ACCORDANCE WITH THE TERMS OF THE LETTER OF CREDIT ISSUED IN OUR FAVOR.)

6- ) THE DELIVERY SHALL BEGIN THE FIRST SHIPMENT SHALL BEGIN 4-6 WEEKS AFTER RECEIPT AND CONFIRMATION OF AN OPERATIVE FINANCIAL INSTRUMENT ACCEPTABLE TO THE SELLER.