——————————— IC 2021 TRADE PROCEDURES TABLE———————————
- BUYER send SELLERS’s representative a L.O.I
- Seller’s representative sends SCO
- Once SCO is approved NCNDA / IMFPA will be signed between the parties.
- BUYER replies to the END SELLER with LOI and the signed SCO agreeing with the procedures
- End Seller sends SPA
- Buyer replies with signed SPA
- Sellers send PI and POP
- Buyer replies with RWA from the DLC issuer Bank — CONFIRMED, IRREVOCABLE, DIVISIBLE, AND TRANSFERABLE (with verbiage previously approved by the seller’s bank)
- Sellers provide POP (PROOF OF IS OWN PRODUCT) from seller Bank to buyer Bank after activation of DLC within 7 banking days
- Seller starts shipment to DESTINATION till completion of the contract and send to the buyer’s bank all shipping documents and BL copy.
- Payment by TT MT103 at the port of loading against bill of landing and SGS report documents delivered to the bank.
——— All communications will be validated by all stakeholder’s trough HELLOSIGN legal digital signing platform managed by IC —————