PORK PRODUCTS

COMMODITY:
PORK PRODUCTS & SIDE PRODUCTS

PORK PURCHASING PROCEDURES

PRICES TO BE QUOTED AFTER RECEPTION OF LOI

Following our new guidelines, we are pleased to offer our customers a new call and payment method for all Pork 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 not required to open an LC but a commitment to pay from the buyer’s bank to the seller’s bank only.

This method saves the buyer the costs of opening the letter of credit, does not need bank credit, gives the buyer more flexibility and ability to execute the transaction and he gets 100% security for the transaction.

Here’s the New procedure:

  1. Buyer Issues LOI (Letter Of Intent) on the official document of the buyer company includes all the details of the buyer company. The LOI will send from the customer’s email directly to the signer’s email below.
  2. The seller Issues SCO/FCO (Soft/Full Corporate Offer) with all the deal details.
  3. Buyer Issues ICPO (Irrevocable Corporate Purchase Order) with full details and attach to the ICPO and a BCL/Credibility document from his bank (the required BCL format is attached here).
  4. Seller Issues Contract and send it to the Buyer to sign in.
  5. Buyer Returns the agreed-upon Contract confirmation, by email attachment, duly signed
    and sealed. The draft Copy will be deemed and legal by the parties until hard copies are printed, sealed, signed and exchanged.
  6. Buyer sign on the contract and send it to the seller whit copy of 5% PB (Performance Bond) Monthly for each transaction.
  7. The seller begins to prepare the goods for shipment, including SGS inspection as well as shipment at the departure port.
  8. The seller will send through his bank all Scanned documents to the buyer’s bank.
  9. The buyer’s bank will check and verify the integrity of the documents and the merchandise.
  10. Buyer Pays 100% T/T off the money to SELLER’s bank account and immediately after that, the Buyer Bank receive Original of BL and other shipping documents from the seller Bank.11. First delivery and shipment commence as per schedule mutually agreed.
  11. Seller provides the following shipping documents to be forwarded to buyer. Shipping documents to be provided in order to clear the goods at destination port:

HEALTH CERTIFICATE…………………(1/0)

BILL OF LADING……………………(3/3)

COMMERCIAL INVOICE. ………………. (1/2)

PACKING LIST…………………….(1/2)

ORIGIN CERTIFICATE ………………. (7/0)

SGS OR BUREAU VERITAS ……………… (1/0)

EXPORT DECLARATION. ………………..(1/0)

CARGO INSURANCE CERTIFICATE. ………… (1/0)

HALAL INSPECTION CERTIFICATE. ………………….. (1/2)

PRICES TO BE QUOTED AFTER RECEPTION OF LOI

LOI MUST BE ON END BUYER’S LETTERHEAD, WITH FULL CONTACT DETAILS, AND MUST INCLUDE THE ABOVE PROCEDURES. PLEASE NOTE, THAT AS OF TODAY, WE DO NOT DEVIATE FROM OUR PROCEDURES, AND WE WILL NOT ACCEPT ANY LC’S AS 40% OF LC’S DON’T MONETIZE FOR A REASON OR ANOTHER. OUR PROCEDURES ARE THE SAFEST ON THE MARKET, AS THE BUYER IS BEING FINANCED BY THE SELLER, UNTIL ALL SHIPPING DOCUMENTS ARE SENT BANK TO BANK, DOCUMENTS ARE VERIFIED AND PAYMENT IS MADE BY TT.