Procedures to Buy
- Buyer issues LOI with full banking Details stating requirement for delivery.
- Seller issues FCO and draft Contract
- Buyer and Seller sign Contract
- Buyer issues a letter of credit to Sellers Bank for the shipment or shipments to the value of one month’s supply. We accept letters of credit from world prime banks only. Orders under 1000mt TT only.
- Seller issues 2% PB if payment by confirmed LC from world prime bank and on contract (not for spot orders)
- Delivery and or shipment starts
- Completion of Contract
Due to our tight profit margins and nature of our business, we ask for the following type of payment:
Irrevocable, divisible, transferable letter of credit in favour for the credit of the seller, the beneficiary, 100% payable at sight at the port of loading.
Shipping FOB, CIF
The exact price of shipping is yet to be confirmed, this can only be fully done on the booking of the vessel.
We offer to ship from Vostochny Port in the Japanese Sea, Russia.
This port accommodates a load of up to 14,000 mt.