Standard TRANSACTIONAL PROCEDURES For Copper Cathodes

TRANSACTIONAL PROCEDURES

a) The Buyer issues letter of intent (LOI)) to the Seller.

b) The Seller issues Full Corporate offer (FCO) to the Buyer.

c) The Buyer signs the full corporate offer (FCO) in acceptance and a filled in CIS template to the Seller.

d) The Seller issues a draft Sales and Purchase Agreement to the Buyer for study and approval.

e) The Seller and the Buyer sign the agreed upon Sales and purchase Agreement and copies exchanged via e-mail.

f) The Buyer will send Pre-Advise MT799 from top bank; Seller issues acceptable proof of product to the Buyer and a proforma invoice (MT600 bank message POP is preferred); video as proof of product

g) The Buyer issues an irrevocable, transferable, confirmed documentary letter of credit (DLC/MT700) to the Seller's nominated bank account.

h) Cargo inspection is done at the loading port by CCICC/SGS or any other international recognized company.

i) Inspect and release payment via MT 103 at loading port. 

    (payment at destination port has a lower discount)

j) Shipment is completed at destination port.

k) Monthly delivery trench commences.