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PROCEDURES
We have outlined below the procedures for purchasing our products.
Please review these carefully before placing an order.
1.
Buyer sends an ICPO to our company with CIS and BCL. The ICPO
needs to contain the following information on it:
·
Complete Buyer information with address, phone number, email, and
registration card.
·
Complete Bank information, banker information, and an intermediary
Bank, if any.
·
Passport copy.
Note
that we will always verify each ICPO with the buyer directly.
Please be advised that we will not send any SPA addressed to
intermediaries, agents, or mandates.
2.
Once we receive your ICPO, we will draft a Sales & Purchase
Agreement (SPA) in favor of the buyer. The SPA and Commercial
Invoice (CI) will be lodged in both banks. We will then execute
the final contract electronically in PDF format, which can be the
original.
3.
Within ten banking days of the SPA, please send an Irrevocable,
Transferable, and Divisible SBLC or DLC from a Top Bank.
4.
After successful mutual confirmation of receiving the SBLC/DLC by
our bank, we will start work on the order and documentation.
5.
After confirmation of the instrument by our bank, loading will
start as per the delivery schedule agreed upon in the contract.
The timeline for the first shipment is up to 40 days maximum,
depending on the product and other parameters. After the first
shipment, each monthly shipment will follow every 30 days.
6.
Payment for each shipment is to be made by MT103, 100% at sight in
the loading port against presentation of the shipping documents,
including SGS, Bill of Lading, Export Documents, Taxes paid,
Insurance, etc.
7.
Once the vessel sails to the destination port, transportation from
the destination port is outside our company's scope. If required,
transport from the destination port to any destination within the
country of destination will be charged extra or solely the buyer's
responsibility.
8.
Please note that if the order is canceled/revoked after the final
contract and confirmation of the monthly order, the buyer is
liable to pay 100% of the value mentioned for the monthly
shipment.
9.
A penalty of 5% applies for non-performance for both the buyer and
seller.
10.
Once the process is completed, the end of the process will be
reached.
Timeline:
·
SPA: 5 days for signature and return accepted.
·
SBLC/DLC: 10 days for processing and delivery to our bank.
·
Up to 40 days for the first shipment, depending on the product and
other parameters.
Notes:
·
No licenses or certificates will be provided before the banking
instrument.
·
SBLC and DLC need to be Transferable, with no exceptions.
·
All contracts will have 110% Insurance.
·
All contracts will have a 2% Performance Bond.
·
All contracts will have a 5% penalty for both sides for
Non-Performance.
Thank you for considering our products. Please let us know if you
have any questions or concerns regarding the purchasing
procedures.
The Vitrine Corp. Team |
