PROCEDURE roughly

  1. The Buyer issues LOI.
  2. The Seller issues SCO/FCO.
  3. The Buyer issues Purchase Order.
  4. The Seller issues Draft Contract to the buyer.
  5. The Buyer returns Draft contract with possibility amendment in the Word Format.
  6. The Seller validates the modifications proposed by the buyer and returns the final contract in word.
  7. The Buyer writes his initials at the bottom of each page, signs and seal(stamps) the last page and returns the contract to the seller in word format.
  8. The Seller send Froforma Invoice to the buyer.
  9. The Buyer send to Draft L/C for confirmation of Terms and Conditions.
  10. She Sell send to Buyer Draft L/C with modification, delete etc.
  11. The Buyer arrange the Letter of credit in his bank and send to the buyer/buyer’s bank.
  12. The Seller arrange to deliver the goods for shipping.
  13. Arrange SGS for inspection of quality and quantity for shipment and export to destination port.
  14. The buyer receives the commodity at the discharging port
  15. L/C =  (Transferable) by Irrevocable Letter of Credit at sight with Confirmed