Control n°: Date : Validity:
To : Mr. Stephen Burke
Company: ATCUSA TRADING LIMITED
Letter Of Intent – LOI
We, Company...... , with address...... , confirm with full legal and corporate responsibility and under penalty of perjury that we are ready, willing and able to enter into a contract for the purchase of commodity as per the specification and in the quantity as specified in the terms and conditions as stated below .
COMMODITY:
SPECIFICATIONS:
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TOTAL QUANTITY:
MONTHLY QUANTITY:
DESTINATION PORT:
PACKING:
INSPECTION: SGS
INSURANCE: 110% to be covered by the Seller
PERFORMANCE BOND: 2% For contract of 12 months
INCOTERMS: ( ) CFR
TARGET PRICE:
PAYMENT FORM: ( ) MT 103
BUYER'S BANK INFORMATION
NAME OF BANK:
ACCOUNT NUMBER:
SWIFT CODE:
TOP PRIME WORLD BANK: ( ) 25 ( ) 50
ADDRESS:
PHONE:
COUNTRY:
BANK OFFICER E-MAIL:
BENEFICIARY:
PROCEDURES:
1 - Buyer issues LOI (Letter Of Intent) valid for 5 days.
2 - ATCUSA TRADING LIMITED (Broker) issues SCO (Soft Corporate Offer) on behalf of the seller valid for 3 days.
3 - Buyer issues ICPO (Irrevocable Corporate Purchase Order) and RWA (Ready, Willing and Able) or BCL (Bank Comfort Letter) valid for 5 days.
4 - Seller / Exporter assumes directly negotiating and issues Draft Contract and NCNDA valid for 3 days.
5 - Buyer returns the Draft Contract and NCNDA signs in 3 days’ time.
6 - After return the Contract and NCNDA signed and in PDF format, the buyer's bank must issue the LC - Letter of Credit or SBLC - Stand By Letter of Credit or BG -Bank Guarantee as collateral for a minimum of one month and send to the seller's bank within 5 working days.
- To purchase sugar (SBLC)
- To purchase copper cathode or soybean (BG or LC)
- Bank guarantees just " Top 50 World Prime Banks”.
7 - After receiving the SBLC, LC or BG, the seller through your bank send the POP (Proof of Product) and PB (Performance Bond – valid only for 12 month contracts) to the buyer bank within 5 working days.
8 - In 30/45 days, the seller's bank issues a letter of invitation for inspection by SGS or similar to the buyer's bank.
9 - The form of payment will be through MT103 / TT against shipment documents. (Bill of Lading).
10 - Delivery starts according to the terms and conditions of contract.
DIRECTOR :
SIGNATURE: