Sugar Buy Requirement from India - 10-Jun-2025

We need to buy Sugar.

1. The Buyer issues an LOI/ICPO with
CIS + BCL / RWA
2. The Seller checks the LOI and issues an
FCO.
3. The Buyer signs the FCO and issues an
ICPO with the details of the order, the
specifications, the buyer's bank's data,
the Buyer's passport copy and the certificate
of constitution of his company
proof of funds (BCL) or MT199 bank to bank.
4. The Seller checks the ICPO and issues a
SPA.
5. The Buyer updates the SPA (if necessary),
signs and returns it to the Seller.
6. The Buyer's bank officer issues an RWA
Pre-Advice to confirm their ability to issue
an MT760 SBLC.
7. The Seller's bank officer replies via swift
MT799 that they are Ready Willing and
Able to receive the Buyer's SBLC.
(Using MT799 verbiage as attached
appendix verbiage).
8. The Buyer's bank will provide a copy
of the MT799 swift receipt.
9. Upon receiving the Seller's swift MT799
RWA reply, the Buyer issues the draft
MT760 to the Seller within 10 days from
the date of receiving the signed original
contract.
10. The Buyer's bank sends the swift
MT760 within 2 banking days to Seller's
bank using the verbiage as provided.
11. Buyer?s bank issues irrevocable,
confirmed, divisible, renewable, transferable,
operative, full refund (SBLC/MT760) to seller.
12. The Buyer's bank will provide a copy
of the MT760 swift receipt.
13. Upon receipt and confirmation of the
MT760 by the Seller's bank, the Buyer's
bank sends a hard copy of the SBLC to the
Seller's bank within 7 banking days.
14. Seller issues a Performance Bond of 2%
in favor of the Buyer within 7 days from the
date of Seller Bank receiving SBLC MT760 Hard
Copy.
15. The Seller starts the process of shipment
within 30 days from the date of receiving+
SBLC hardcopy.
16. Based on the documents stipulated in
the contract and the qualified inspection
report issued by CCIC/SGS at the destination
port, the Seller collects the payment through
TT at the destination
port according to each shipment quantity.
The Buyer shall make payment for each
shipment by TT within 5 days after the
qualified inspection report issued by
CCIC/SGS at destination port.
17. Monthly shipping subsequently continues
in accordance with the terms and conditions
of the sale and purchase agreement
between Buyer and Seller.

Thank you.

Contact: Mr. Sharad Badgujar

Posted on : 10-Jun-2025
Posted From : India

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