In order to facilitate the transaction the following Procedures are required:
•Buyer sends an LOI + BCL with 2 bank officer signatures and stating that the buyer has the capability (either by funds or facility) to complete the contract, with an authorization for a soft probe of the account.
•Documents will go thru the standard validation period.
•Seller issues and FCO or Contract within 48 - 72 hours upon the receipt of Buyer's LOI.
•Prior to leaving destination port, Buyer must be able to show us the application of the Letter of Financial Instrument.
•Buyer will instruct his bank to swift Payment instrument prior to leaving loading port.
Buyer will have in hand:
1. Signed & Sealed Contract (Chamber of Commerce Signature & Seal included)
2. 2% Performance Bond Guarantee
3. Shipping Schedule for his complete contract
4. A copy of the SGS inspection from the mine, showing Quality of the Cathode Copper.
•Buyer may, at his own discretion choose to return to see the actual loading & departure of his first vessel.