1.1. Register as a Supplier or Buyer using the link in the footer of the site  

The “BUYER”, sends Full KYC documentation to the “SELLER” including:

§  A certified* copy of the company Certificate of Incorporation

§  An Official Shareholders Certificate (with list of Shareholders and their holding percentages).

§  Proof of Adress of the company. This should be a bank statement, a gas, water or electricity bill or a landline telephone bill, and should show the name and address of the company.

§  A Certified or Verified copy of the passports of all the UBOs who hold 10% or more of the company.

o  Passports copies can either be Certified by a CPA, Notary, or Lawyer

o  OR can be verified with our Online Biometric IDVerification system.

§  Proof of Adress of all the UBOs who hold 10% or more share of the company. This should be a bank statement, a gas, water or electricity bill or a landline telephone bill, and should show the name and address of the company.

§  A board resolution signed by its shareholders confirming the signatories of the company.

(*Certification must be done by a CPA, Notary, or Lawyer and must include his full contact details and registration number and the words, “this is a true copy of the original”)

1.2.     “BUYER” sends “SELLER” LOI

1.3.     “SELLER” sends “BUYER” SCO and/or FCO.

1.4.     “BUYER” sends “SELLER” ICPO

1.5.     The “SELLER” responds with the final SPA (sale and purchase agreement) which supersedes all prior negotiations, understandings, and agreements whether written or oral in relation to the AGREEMENT, and any temporary document like ICPO, FCO, etc. It will be the final reference for the deal throughout the contract’s duration.

1.6.     The “BUYER” sign and return the SPA within 5 days of receiving it.

1.7.     The “SELLER” issues a PROFORMA INVOICE to the “BUYER” within 24 hours of receiving the signed SPA.

1.8.     Within 24 hours of receiving the PROFORMA INVOICE, the “BUYER”, will request an MT799 from his bank to be sent to the “SELLER’S” bank. This will be an essential requirement for the start of the financial operation that supports this contract.

A draft of the Pre-advice via MT-799 for payment by LC/DLC is attached in Appendix of the SPA

A draft of the Pre-advice via MT-799 for payment by SBLC+MT103 is attached in Appendix of the SPA

1.9.     The “BUYER” bank will conclude with the final issuance of the MT700 LC/DLC via SWIFT SYSTEM to the Bank of the “SELLER”, for the Contract Face Value and send to the “SELLER” a draft of the LC/DLC.

·        A LC/DLC format via SWIFT MT-700 sample is attached in Appendix of the SPA

·        The General Maturity of the DLC must be agreed by the parties.

1.10.      The “SELLER” bank must approve the Draft LC/DLC.

1.11.      The “BUYER” bank must issue it within 5 days of the said approval. If the buyer does not issue the LC/DLC within the agreed period, this contract will be cancelled or terminated, AND A SANCTION equivalent to 2% of the total face value of the transaction will be applied.

1.12.      The LC/DLC, will be UNCONDITIONAL APART FROM THE BASICS OF THIS CONTRACT TERMS, IRREVOCABLE, TRANSFERABLE, DIVISIBLE, OPERATIVE, FULLY CONFIRMED, PARTIAL SHIPMENT ALLOWED, AUTOREVOLVING VALUE ONE MONTH SUPPLY WITH A VALIDITY FOR 60 DAYS, NEGOTIABLE and 100% AT SIGHT (PORT OF LOADING) for the total amount of the Contract Face Value.

1.13.      The “BUYER” bank will conclude with the final issuance of the MT700 LC/DLC via SWIFT SYSTEM to the Bank of the “SELLER”, for the Contract Face Value and send to the “SELLER” a draft of the LC/DLC.

1.14.      Once said MT700 LC/DLC has been issued by the buyer’s Bank via SWIFT SYSTEM, land transit will take place to the port terminal, which will take a minimum of 15-20 Business days, where the buyer will be invited to verify the merchandise or a Surveyor SGS or similar, will issue a certificate of verification of the merchandise.

1.15.      Payment will be executed by TRANSFER VIA SWIFT MT 103 within 48 hours of the “BUYER”’s receipt of all required documents at the port of embarkation.

1.16.      If agreed between the parties, once the payment is transferred to the “BUYER” by the “SELLER” Bank, the “BUYER” will issue a Swift to the “BUYER” Bank within 7 (seven) business with a 2% P.B. (Performance Bond) of the total face value of the monthly contract.

1.17.      Then the sea crossing will begin and thus the first shipment will be completed, the product will be delivered to the “BUYER” with all certifications and SGS On Lading and released for delivery in INCOTERM CIF VERSION 2020 of the ICC – in various Ports Designated by the “BUYER” according to the delivery schedule stipulated in Appendix “A” SCHEDULE OF DELIVERY.

1.18.      Transfer of ownership: ** With payment made, the seller organizes delivery of the product, and ownership is transferred to the buyer, with all documents:

●        FULL SET OF ORIGINAL, CLEAR, ON-BOARD, NEGOTIABLE OCEAN BILL OF LADING, PLUS 3 SETS OF NON- NEGOTIABLE COPIES.

●        SGS INSPECTION CERTIFICATE EVIDENCING QUANTITY AND QUALITY OF PRODUCTS LOADED ON BOARD THE VESSEL.

●        3 CERTIFICATES OF ORIGIN.

●        MATERIAL SAFETY DATA SHEET.

●        COMMERCIAL INVOICE.

●        PHYTOSANITARY CERTIFICATE.

●        PACKING LISTS.

●        Quality certificate issued by the production plant or Certifications of Reliable Institutions (Origin, etc).

●        Customs declaration of loading

●        The import license or any necessary authorization in the destination country is borne by the buyer; the supplier does not manage or pay permits or authorizations in the country of destination. The provider is responsible for obtaining all permits, certificates, and authorizations in the country of origin, in order to comply with the agreements entered into in the contract of sale.

●        Bill of Lading. Three (3/3) copies.

●        International Consignment Document