CIF (ONLY) TRANSACTION PROCEDURE

1) Buyer Issues ICPO + CIS

a) The Buyer submits an Irrevocable Corporate Purchase Order (ICPO) along with a Customer Information Sheet (CIS).

b) Upon receipt of the ICPO, the Seller will respond with a Full Corporate Offer (FCO).

2) Buyer Provides Documentation

a) The ICPO must include the buyer’s full company details, banking information, a copy of the signatory’s passport (General Director), and the company registration certificate.

b) The Buyer must also provide a RWA (Ready, Willing, and Able) letter from their bank confirming their intent to issue a DLC/SBLC as a payment guarantee.

c) The Seller will verify all submitted documents for authenticity.

3) Draft Contract Exchange

a) Upon receipt of the ICPO and bank BCL or account statement, the Seller will issue a draft contract within 3–5 working days.

b) The Buyer will review the contract within 2–3 days, suggest any amendments, and return it to the Seller.

c) The Seller will review any changes, finalize the draft, and send it back to the Buyer for signature.

d) Once the Buyer signs and returns the contract, the Seller will countersign and submit it for bank registration.

4) Commercial Invoice Issued

a) The seller issues the commercial invoice for the transaction.

5) Invoice Acknowledgment

a) The buyer signs and returns the commercial invoice to the Seller, acknowledging acceptance of the terms.

6) Financial Instrument Issuance

a) The buyer’s bank will issue a financial guarantee (DLC/SBLC) within 3 working days.

b) The instrument must be valid for 13 months, issued via SWIFT MT760, and must be:

c) Irrevocable, Transferable, Auto-Revolving, Divisible, Operative, Confirmed by Top 50 Bank, and unconditional

d) Covering the value of the first shipment.

7) Shipment Commences

a) Upon confirmation of the financial instrument by the Seller’s bank, the Seller will initiate shipment within 7 working days.