01 LETTER OF INTENT (LOI)
Buyer submits Letter of Intent.

02 FULL CORPORATE OFFER (FCO)
Seller issues Full Corporate Offer and buyer accepts.

03 SALES PURCHASE AGREEMENT
Draft SPA is issued, signed and countersigned.

04 PARTIAL PROOF OF PRODUCT
Seller provides Partial Proof of Product.

05 MT799
Buyer’s bank sends MT799 pre advice to the seller’s bank.

06 PERFORMANCE BOND
Seller issues the agreed 2% Performance Bond following MT799 confirmation.

07 MT700 / SBLC
Buyer issues an Irrevocable Confirmed Documentary Letter of Credit (MT700) or SBLC within 10 banking days.

08 BANK AUTHENTICATION
Seller’s bank authenticates and accepts the financial instrument.

09 SHIPMENT
Cargo is prepared, loaded and shipped on the nominated vessel.

10 MT103 PAYMENT
Shipping documents are presented through banking channels and payment is made at sight by MT103 under the Documentary Letter of Credit.

11 DOCUMENTS & REPEAT SHIPMENTS
Original shipping documents are released through banking channels and subsequent shipments continue according to the agreed delivery schedule.