PERFORMANCE BOND: 2% PB will only be issued by the seller with the guarantee SBLC MT 760. In the format of DLC MT 700 (month to month) We do not open 2% PB either Contract or SPOT. Seller´s Procedure 1- BUYER SHALL ISSUE THE LOI TO THE SELLER. LOI 100% BANCARIZED COMPLETE, (SEE TEMPLATE) 2- SELLER SHALL ISSUE THE (FCO) TO THE BUYER ACCEPTANCE SIGNATURE AND RETURN TO THE SELLER. 3- - BUYER SHALL ISSUE THE ICPO TO SELLER. ICPO + BCL OR RWA 4- SELLER SHALL ISSUE THE SALES AND PURCHASE AGREEMENT (SPA), DRAFT TO BUYER TO SIGN SEAL AND RETURN TO SELLER, SELLER SHALL DULY SIGN COMPANY´S SEAL THE SALES AND SPA AND SEND TO BUYER. THE SIGNED SPA BECOME ENFORCEABLE, ONCE BE SIGNED BETWEEN BOTH PARTIES. 5- UPON LODGE THE SIGNED SPA INTO BOTH BANKS, THE BUYER SHALL INSTRUCT HIS BANK ISSUE THE IRREVOCABLE CONFIRMED TRANSFERABLE AND OPERATIVE LETTER OF CREDIT BY SWIFT MT 700, UPON CONFIRMATION OF THE LETTER OF THE CREDIT SELLER CHARTERING VESSEL WITHIN THIRTY FIVE (35) DAYS OF RECEIVING AND CONFIRMING THE LETTER OF CREDIT. AT LOADING PORT SGS MAKE THE DULLY SURVEILLANCE ON THE CARGO 6- THE BOTH PARTIES, IRREVOCABLY AGREES THAT SGS OR BUREAU VERITAS AS THE OFFICIAL AUTHORIZED INSPECTION AGENCIES AS THE PART OF THE SPA. 7-BUYER IS INVITED TO VISIT PLACE OF STORAGE GOODS AT THE LOADING PORT OR NOMINATE HIS OWN INSPECTION TEAM AT BUYER’S COST TO ATTEND SGS INSPECTION AT THE LOADING PORT. 8- ONCE COMPLETED THE INSPECTION AND ALL SHIPPING DOCUMENTS ARE ISSUED, THE PACKAGE OF SHIPPING DOCUMENTS WILL BE SENT DIGITALLY TO BUYER AND UPON RECEIPT OF DIGITAL SHIPPING DOCUMENTS, BUYER BANK WILL RELEASE PAY BY SWIFT OR EQUIVALENT THE AMOUNT OF 100% OF THE FULL . 9- BUYER AND SELLER SHALL SIMULTANEOUSLY HAND SIGN AND COMPANY SEAL FOUR (4) ORIGINAL HARD COPIES OF THE SALES AND PURCHASE AGREEMENT (SPA) MADE INTO PDF FORMAT THAT IS ACCEPTABLE BY BUYER AND SELLER AS LEGAL BINDING ORIGINAL HARD COPIES AND SALES AGREEMENT (SPA). 10- SELLER SHALL DISTRIBUTE THE EXECUTED FOUR (4) ORIGINAL HARD COPIES OF THE SALES AND PURCHASE AGREEMENT (SPA), SELLER SHALL PROVIDES ONE HARD COPY TO THE SELLER’S BANK AND THE SELLER SHALL KEEP ONE COPY. THE ORIGINAL HAND SIGNED COMPANY SEALED ORIGINAL HARD COPIES IN PDF FORMAT SHALL SUPERCEDE THE DRAFT COPIES OF THE SALES AND PURCHASE AGREEMENT (SPA) AND SHALL BE ACCEPTABLE LEGAL BINDING DOCUMENTS FOR EACH OF THE PARTIES AND THEIR BANKS. 11- ONCE FULL PAYMENT IS RECEIVED FOR THE SHIPMENT, THE COMPLETE SET OF ORIGINAL DOCUMENTS WILL BE SENT TO BUYER OR HIS DESIGNATED BANK SO SHIPMENT CAN CLEAR CUSTOMS AT THE COUNTRY OF ARRIVAL. PAYMENT OPTIONS: 100% SBLC (MT760) or DLC (MT 700) Operational, Transferable, Irrevocable, Divisible. issued or confirmed by 25-50 world prime banks Revolving (we do not accept over pricing or LC as payment for 12 months contracts) Only for SPOT or Trial.Any document issued only after signature by the FCO + presentation by the ICPO + RWA or BCL.Initially, we require a 100% banked LOI (see attached email).