Pre-Negotiation Phase

Issuance of the Letter of Intent (LOI) by the Buyer
Buyer issues LOI demonstrating formal interest in the purchase.

Issuance of the Simple Corporate Offer (SCO) by the Seller
Seller responds with SCO within 72 hours of receiving the LOI.

Issuance of the Full Corporate Offer (FCO) by the Seller
Seller provides detailed FCO to buyer.

Issuance of the Irrevocable Corporate Purchase Order (ICPO) and Proof of Funds (POF) by Buyer
Buyer sends ICPO along with BCL or RWA as proof of funds.

FCO Acceptance and Return by Buyer
Buyer returns the signed and stamped FCO.

Contractual Phase

Issuance of the Draft Contract by the Seller
Seller sends initial draft of contract for buyer review.

Return and Acceptance of the Contract by the Buyer
Buyer returns signed contract and is considered official and legal.

Issuance of the Commercial Invoice by the Seller
Seller issues a Commercial Invoice after acceptance of the contract.

Acceptance of the Commercial Invoice by the Buyer
Buyer returns the signed and stamped Commercial Invoice.

Financial Guarantee Phase

Negotiation and Finalization of the SBLC Term
Buyer sends SBLC verbiage; seller reviews and returns with adjustments.

Issuance of the SBLC by the Buyer's Bank
SBLC is issued as collateral and sent to the seller's bank.

Submission of Performance Bond (PB) and Proof of Product (POP) by the Seller
Seller sends PB of 2% of the value of a shipment and the POP within 5 business days after SBLC.

Final Execution Phase

Invitation and Monitoring of Loading at the Port
Buyer receives an invitation to accompany the shipment.

Ship Loading
Ship is loaded within 45 days after financial confirmation.

Payment Against Shipping Documents
Payment is released upon presentation of shipping documents (B/L and SGS).

Ship Release
Ship is released for transportation to the final destination after payment.