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| THE SALES FACTORY |
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| PROCEDURES OF PURCHASE TRANSACTIONS |
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1) Buyer submits valid Letter of Intent (LOI) with Bank Comfort Letter (BCL) or Irrevocable Coporate Purchase Order (ICPO). |
2) After soft probe is done by seller on buyer bank coordinates, Seller issues Full Corporate Offer (FCO) or Sale and Purchase Agreement (SPA) with full seller bank details. |
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3) Buyer accepts and agrees the terms and conditions of the FCO or SPA by counter signature and company stamp and return it back to Seller. |
4) Signed FCO or SPA sent by fax or email will be considered as original and valid. |
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5) Hard copies of SPA to be issued by Seller and exchanged with Buyer. |
6) Buyer signs / stamps all copies and return two (2) hard copies of the SPA to the Seller. |
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7) Seller and Buyer submit the hard copies to their respective banks. |
8) Buyer bank provides Proof of Fund (POF) to the seller bank. The POF is the operative on non-operative LC. |
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9) Seller will provide Proof of Product (POP) bank to bank. The Seller bank provide the POP after the Buyer LC is finalized with Buyer bank. |
10) Buyer presents pre-advised LC to be approved by Seller bank. |
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11) Seller issues Performance Bond (2% PB) to activate Buyer's LC. |
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12) Delivery and shipment commence as per SPA signed by Buyer and Seller. |
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| Page Updated Fri Aug 3, 2007 2:02am EDT |
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