1. BUYER SENDS LETTER OF INTENT (LOI) & PROOF OF FUNDS (POF) TO SELLER.
2. SELLER ISSUES FULL CORPORATE OFFER (FCO) & PROFORMA INVOICE (PI).
3. BUYER REVIEWS, SIGNS, & RETURNS FCO & SUBMITS PI TO BUYER’S BANK.
4. BUYER’S BANK SWIFTS L/C TO SELLER’S BANK WITHIN 5 BUSINESS DAYS OF RECEIVING PI FROM SELLER.
5. SELLER ISSUE CONTRACT.
6. BUYER REVIEWS, SIGNS, & RETURNS CONTRACT.
7. AFTER SELLER RECEIVES & CONFIRMS THE L/C TO SELLER’S BANK, SELLER AGREES TO ISSUE A 2% (TWO PERCENT) PERFORMANCE BOND WITHIN 5 BUSINESS DAYS IN THE VALUE OF ONE SHIPMENT.
8. VESSEL LOADING STARTS WITHIN 3-4 WEEKS FROM RECEIVING AND CONFIRMING THE FINANCIAL INSTRUMENT AT SELLER’S BANK.
Neil Hanekom
Global Bulk Grain Export / Import Seller's Representative
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