LETTER OF INTENT:-
Must contain the following information; any sections missed will result in the LOI being returned for further completion. Please ensure you place information under all of the 17 sections.
1.LOI Must Be On Real Buyers Company Letterhead
2.Telephone Number:
3.Facsimile Number:
4.Address Of the Buyer: Issued Under Penalty of Civil and Criminal
Perjury:
5.Contact Person, Name & Title
6.Product: Quantity, Specification of the commodity required:
7.Contract Length:
8.Target Price In US$:
9.Performance Bond (if applicable):
10.Method of Packing (Bags, Bulk etc.):
11.Destination Port or Destination country:
12.Shipment Size (Either One off or Monthly):
13.Selected Method of payment:e.g. Standby L/C; Reserved Funding; unrestricted Bank Guarantee; DT-C or RLC (Fully Funded) of (DLC or RLC) with a minimum deposit or Prime Bank Guarantee (PBG) of 100% or a minimum of 20% - 25% from a top World Bank:
14.Bank Issuing Financial instrument:
15.Confirming Bank:
16.Preferred Shipment Date:
Minimum Banking Information:
A letter ( B.C.L) from the buyers lending institution - Top World Bank -stating the real buyer has or could have the financial capacity to handle the transaction must accompany the LOI.
Procedures for Issuance of FCO
Sugar prices are determined upon method of payment, therefore reserved funds, prime bank guarantee (PBG) for the full contract amount or standby letter of credit attract more favourable prices.If you intend to pay for the sugar with a DLC or RLC you must nominate if you are paying fully funded L/C or are prepared to pay a deposit with the DLC or RLC.
Innovative,Creative Energy
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