Specification :

TRANSACTION PROCESS

a) Seller Mandate will provide a SCO
b) If a deal is coming through sellers mandate, agents or intermediaries, an NCNDA
have to be signed by all parties including the buyer to protect everyone interest to the
transaction. A copy of the NCNDA sign for all parties,
c) Buyer sends Letter of Intent LOI or ICPO with Bank Comfort Letter (BCL) or Bank
Guarantee (BG).
d) Seller issue FCO and draft Contract In favor of the buyer
e) Buyer returns FCO with acceptance letter of Draft Contract to the seller
f) Seller send (6) hard copies duly signed and sealed. Buyer duly signs and seals all
copies and return back (3) copies for the seller
g) Seller’s bank sends to buyer’s bank proof of product via fax or email.
h) Buyer’s banks send proof of funds (Price x Quantity x 12 Month) to show readiness to
issue the Letter of Credit (L/C) as per contract.
i) Within (5) business days the buyers bank sends the operative L/C which activates the
Performance Bond (PB)
j) Delivery and shipment commence as per schedule mutually agreed.