BLCO $11/$7 CIF PROCEDURE TO:
South Africa or Senegal or Las Palmas port or Any European ports only/with Sellers Bank sending A WRITTEN LETTER ON BANK LETTER HEAD FIRST CONFIRMING TO ESTABLISH A 2% PB.
THEN BUYER RESPOND AND SWIFT BG/SBLC VIA MT-760
1.Buyer issues LOL and company profile and have conference call with seller.
2.Seller issues sign SPA
3.Buyer sign SPA and return with port of Discharge (POD) information and coordinates in order for seller captain to send NOR/ETA to Buyer POD(port of Discharge) for delivery
4.Seller Bank writes a letter on Bank letter head,and send via Bank –To-Bank fax or Bank-To-Bank Email to Buyer Bank confirming ‘’Seller will SWIFT an OPERATIVE 2% PB to Buyer Bank in favour of Buyer after receiving Buyer non-operative Instrument BG/SBLC MT-760
5.Buyer Bank respond and SWIFT a non-operative Bank Guarantee(BG) or Non-operative ‘’Standby Letter Of Credit (SBLC) to seller Bank in favour of seller to the seller account
5.Seller validates the instrument and then seller Bank SWIFT an OPERATIVE 2% Performance Bond in favour of the Buyer to activate the Buyer Non-Operative Bank Guarantee(BG) or Non-Operative Standby Letter Of Credit (SBLC).Buyer Instrument becomes active
6.Seller loads vessel in Buyer name and release Full Proof Of Product (POP) documents to buyer including Charter Party Agreement
7.Seller captain sends NOR/ETA to buyer Port Of Discharge /Rotterdam to move loaded vessel for Q&Q /SGS Inspection
8.Vessel sails to buyer POD.When Vessel arrives at Buyer POD,the cargo,is offloaded into the Buyer shore tanks,and inspected by SGS Inspection Company to determine the final commercial invoice value and to confirm the cargo quality
9.Buyer Bank releases payment via SWIFT MT-103 to seller account for the unloaded cargo and the presentation of complete paperwork/POP documents sent to the appropriate bank giving title of the product to the buyer
10.Payment of the cargo and the commissions are effected within 72 hrs to sellers account and all agents involved after verification of SGS report at the discharge port
11.Shipment continues as per contract

Frank.c.c
Contact:08063703729