Sugar icumsa 45
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standby letter of credit
Understand up front that the Brazilians owners will not issue an SGS or BL until you have supplied:We are direct to seelrs mandate for 20 sugar owners and refinery's. Contact me for pricing.
3. Target Price, Quantity, and Amounts with Ports of delievery. ASWP
The Procedures are quite simple:
(1) Non-circumvention and non-disclosure agreement (NCND) between buyer and seller:
(2) Your potential buyer will send a letter of intent (LOI) with references as to his financial capabilities.
(3) Upon approval of the buyer and his financial capabilities, the buyer will place a non-operative letter of credit that is transferable and divisible through Mandates office for the first years purchase.
(4) The seller will provide proof of product (POP) and a two (2%) percent performance bond that in turn will activate the buyers non-operative letter of credit into a fully operative standby letter of credit
(5) Delivery schedule dates and depth of the harbor will be provided thereafter
This is CIF (cargo, insurance, and freight) contract, but the purchaser is responsible for offloading and, of course, there are certain rules with respect to the offloading time before demurrage charges.
The letter of credit will be drawn upon when the ship is loaded At the end of the year, the revolving credit will reestablish itself for another twelve (12) months