CHICKEN PRODUCTS

COMMODITY: FROZEN CHICKEN PARTS 

CHICKEN PURCHASING PROCEDURES

PRICES TO BE QUOTED AFTER RECEPTION OF LOI

Following our new guidelines, we are pleased to offer our customers a new Safe Procedures and payment method for all poultry transactions.

This method makes it very easy for the customer, and at the same time we are required to perform in-depth and comprehensive checks to make sure that the buyer is the final buyer and that he has the financial capabilities to execute the transaction.

With the current method of payment, the buyer is required to open an LC, the seller’s bank issues B/L and shipping documents to Buyer’s Bank, after all verification Buyer issues payment. (100% at Sight)

Here’s the New Procedure:

PAYMENT TERMS:


100% at sight IRREVOCABLE, NON-TRANSFERABLE and CONFIRMED, DLC (MT 700) opened upon INVOICE, payable against documents and will be sealed after terms agreement. Payment monthly for shipment of 12 months contract. TOP 25 Banks

INSPECTION:

By SGS or equivalent at loading port at the expense of the seller; all costs in the loading port are the Seller’s expense.PROCEDURES:

BUSINESS PROCEDURE:                                     

1)   ONCE THIS AGREEMENT BETWEEN THE PARTIES IS SIGNED AND TERMINATED, THE PROCEDURES WILL BE:

2)  THE SELLER ISSUES THE PROFORMA INVOICE, FOR THE FIRST SHIPMENT. FOR THE NEXT PLANNED SHIPMENTS THE SELLER WILL BE ISSUING THE APPROPRIATE PROFORMA INVOICE FOR EACH MONTH.

3)   THE BUYER’S BANK IN 05 BUSINESS DAYS FROM THE SIGNING OF THIS AGREEMENT WILL SEND DL/C OPEN IN FAVOR OF THE SELLER’S BANK, WITH THE CORRESPONDING AMOUNT OF MT, INDICATED IN ANNEX “A” OF THIS AGREEMENT. FOR THE FOLLOWING SHIPMENTS PROVIDED IN ANNEX “A” WILL BE MADE EACH MONTH, IN ACCORDANCE WITH ARTICLE 7.1.1. OF THIS AGREEMENT.

4)   THE INSPECTION OF THE GOODS WILL BE CARRIED OUT BY SGS/BV/CCIC IN THE SELLER’S WAREHOUSES, WHERE THE GOODS WILL BE INTRODUCED IN 40 “REFRIGERATED CONTAINERS, SEALED AND SEALED BY THE SUPERVISION COMPANY AND ALSO BY THE SHIPPING COMPANY

5)   THE BUYER COULD ORDER AN OPTIONAL INSPECTION, DURING LOADING BY SGS/BV/CCIC. THIS INSPECTION IS OPTIONAL AND IS IN THE BUYER’S ACCOUNT.

6)   THE SELLER INVITES THE BUYER TO WITNESS THE SHIPMENT OF THE MERCHANDISE AT ORIGIN. PREVIOUSLY, THE BUYER MUST INDICATE THE NAME OF THE PEOPLE TO TRAVEL, INCLUDING A COPY OF THE PASSPORT TO APPLY FOR THE VISA. ALL COSTS WILL BE BORNE BY THE BUYER.

7)   SHIPMENT BEGINS AS SCHEDULED AFTER VERIFICATION AT SOURCE OR AT THE SELLER’S STORES.

8)    PAYMENT OF THE MERCHANDISE SENT WILL BE MADE BY TT (MT103) BY THE BUYER TO THE SELLER UPON DELIVERY OF THE DOCUMENTS MENTIONED IN ARTICLE 13 OF THIS AGREEMENT, WITHIN A MAXIMUM PERIOD OF 03 (THREE) DAYS. THE ORIGINAL DOCUMENTS WILL TRAVEL FROM BANK TO BANK. THE GOODS WILL NOT BE SHIPPED UNTIL THE SELLER HAS PAIDIN HIS ACCOUNT THE FULL AMOUNT OF THE INVOICE ISSUED.

9)     THE TRANSFER OF OWNERSHIP OF THE GOODS WILL BE MADE FROM THE SELLER TO THE BUYER WHEN THE GOODS HAVE BEEN PAID FULLY BY THE BUYER’S BANK AND THE AMOUNT CREDITED TO THE SELLER’S ACCOUNT.

DELIVERY:            

7.1.     THE FIRST SHIPMENT WILL BE CARRIED OUT WITHIN 35/45 DAYS AFTER THE SELLER RECEIVES THE CORRESPONDING DL/C – (MT700-710), AS MODEL IN ANNEX “E” AND ACCORDING TO THE PROFORMA INVOICE INCLUDED IN ANNEX “F” OF THIS AGREEMENT.

7.1.1.         FOR THE FOLLOWING SHIPMENTS PROVIDED FOR IN ANNEX “A”, EVERY 30 DAYS, THE SAME PROCEDURE WILL APPLY: DL/C. THE DL/C WILL BE ISSUED BY THE BUYER WITHIN A MAXIMUM PERIOD OF 5 DAYS AFTER COUNTING FROM THE ISSUANCE OF THE PREVIOUS B/L.

7.2.     AFTER RECEIVED OF THE DL/C (MT700-710) ACCORDING TEXT IN ANNEX “E”  FROM THE BUYER BY THE SELLER’S BANK, FOR THE 100%, AND PER PAYMENT IN ORIGIN AGAINST OCEAN BILL OF LADING AND OTHER SHIPPING DOCUMENTS INCLUDING SGS/BV/CCICINSPECTION, IN ACCORDING ARTICLE 13 OF THIS AGREEMENT.

7.2.1.         FOR EACH OF THE FOLLOWING SUBMISSIONS, AFTER THE ISSUANCE OF THE PREVIOUS B/L, THE BUYER WILL ISSUE DL/C ACCORDING TO MODEL IN ANNEX “G” OF THIS AGREEMENT.

7.3.     THE SELLER´S HAS THE RIGHT TO APPOINT A FIRM OF MARITIME TRANSPORT TO THE PORT OF DESTINATION (MAERSK, MSC, EVERGREEN LINE, COSCO, OR SIMILAR), AT THE SELLER´S EXPENSE.

9.    PAYMENT TERMS:

9.1.     ONCE THIS AGREEMENT HAS BEEN COMPLETED AND SIGNED BY BOTH PARTIES, THE BUYER ISSUES WITHIN 5 DAYS MAXIMUM FROM THE DATE OF THE SIGNATURE OF THE AGREEMENT THE DL/C FOR THE AMOUNT INDICATED IN ANNEX “A” FOR THE FIRST SHIPMENT.

9.1.1.         FOR EACH PLANNED SHIPMENT, ACCORDING TO ANNEX “A”, THE BUYER SHALL ACT IN THE SAME MANNER INDICATED IN ARTICLE 7.1.1.; IN CASE OF NOT COMPLYING WITH THIS AGREEMENT, IT WILL BE INVALIDATED AND THE SELLER MAY CHOOSE TO INITIATE LEGAL ACTIONS IN DEFENSE OF ITS LEGITIMATE INTERESTS.

9.2.     THE BUYER, WITHIN 5 BUSINESS DAYS AFTER SIGNING THE CONTRACT, WILL PROCEED:

9.2.1.         FOR THE FIRST SHIPMENT, 100% DL/C (MT700-710) ACCORDING TO THE TEXT IN ANNEX “E” FROM THE BUYER’S BANK, VIA “SWIFT” TO THE SELLER’S BANK AND FOR PAYMENT AT SOURCE AGAINST OCEAN BILL OF LADING AND OTHERS SHIPPING DOCUMENTS, INCLUDING INSPECTION SGS/BV/CCIC, IN ACCORDANCE WITH ARTICLE 13 OF THIS AGREEMENT.

9.3.     THE DL/C IS IRREVOCABLE, NON-TRANSFERABLE, NON-DIVISIBLE AND THE PAYMENT AGAINST DOCUMENTS THAT INDICATE ARTICLE 13, IN FAVOR OF THE SELLER THAT WILL COVER THE EXPECTED SHIPPING AMOUNT (+/- 5% TOLERANCE), FOR THE SHIPMENT THAT AND SO MANY TIMES AS THE EXPECTED DURATION OF THIS AGREEMENT.

9.4.     THE DL/C ARE THE PAYMENT OF 100% AT SIGHT AGAINST THE SHIPPING DOCUMENTS SPECIFIED IN ARTICLE 13 WILL BE PAID, IN ORIGIN.

9.5.     FOR EACH PLANNED SHIPMENT, THE SELLER WILL ACT IN THE SAME MANNER INDICATED IN ARTICLE 7.1.1. THIS PROCEDURE IS DONE FOR THE SHIPMENT UNTIL THE END OF THIS CONTRACT.

SHIPPING DOCUMENTS:

DOCUMENTATION:

THE RELEASE OF THE DL/C FOR THE PAYMENT OF THE GOODS TO THE SELLER WILL BE CARRIED OUT, UPON DELIVERY OF THE FOLLOWING DOCUMENTS, WITHIN A MAXIMUM PERIOD OF 3 DAYS AND THE DOCUMENTS WILL TRAVEL FROM BANK TO BANK:                   

13.1.    3/3 ORIGINAL BILL OF LADING (B/L) IN ORIGIN, TO THE BUYER, CONSIGNED IN HIS NAME.

13.2.    COMMERCIAL INVOICE ISSUED BY THE SELLER (ONE (2) ORIGINAL AND TWO (2) COPIES), BASED IN QUANTITY ISSUE BY SGS/BV/CCIC IN ORIGIN.

13.3.      ORIGINAL CERTIFICATE OF QUALITY & QUANTITY ISSUED BY SGS/BV/CCIC IN ORIGIN.

13.4.      CERTIFICATE OF ORIGIN ONE (1) ORIGINAL AND THREE (3) COPIES) ISSUED AND CERTIFIED BY CHAMBER OF COMMERCE IN ORIGIN.

13.5.       EXPORT DECLARATION CERTIFICATE TWO (2) ORIGINAL

13.6.       PACKING LIST TWO (2) ORIGINAL

13.7.       PHYTOSANITARY CERTIFICATE TWO (2) ORIGINAL

13.8.       CARGO INSURANCE CERTIFICATE, TWO (2) ORIGINAL

13.9.       NON-WOOD PACKING DECLARATION.

13.10.     COPY SIF NUMBER.

THE FOLLOWING CHICKEN PRODUCTS ARE AVAILABLE:

WHOLE CHICKEN GRADE A, CHICKEN WING GRADE A, CHICKEN JOINT WING GRADE A, CHICKEN MIDDLE WING GRADE A, CHICKEN LEG QUARTER GRADE A, CHICKEN DRUMSTICK GRADE A, CHICKEN LIVER GRADE A, CHICKEN BREAST WITH BONE GRADE A, CHICKEN FEET GRADE A, CHICKEN PAW GRADE A, CHICKEN GIZZARDS GRADE A, CHICKEN HEART


LOI MUST BE ON END BUYER’S LETTERHEAD ADDRESSED TO “MADNOX TRADE DESK”, WITH FULL CONTACT DETAILS, AND MUST INCLUDE THE ABOVE PROCEDURES. PLEASE NOTE, THAT AS OF TODAY, WE DO NOT DEVIATE FROM OUR PROCEDURES. OUR PROCEDURES ARE THE SAFEST ON THE MARKET, NON-TRANSFERABLE L/C 100% AT SIGHT, UNTIL ALL SHIPPING DOCUMENTS ARE SENT BANK TO BANK, DOCUMENTS ARE VERIFIED AND PAYMENT IS MADE BY TT.