1. Buyer must send recent LOI, valid BCL, with full banking co-
ordinates.
2. Seller sends FCO which must be returned signed.
3. Draft contract is sent for
signature.
Upon signing the final contract:
1. Buyer issues pre-advice L/C, wording and bank acceptable
to seller.
2. Seller sends POP and PB 2% bank to bank.
3. Pre-advice L/C becomes operative.
4. Shipment begins as per the terms of the contract.
For sugar Item 1 and 2 can be reversed (only POP from Sellers and Operative LC from Buyers).
