3. DELIVERY: CIF ASWP
4. PERFORMANCE BOND: 2 % PB
5. PAYMENT TERMS: Irevocable, confirmed, transferable, monthly revolving for duration of contract. Confirmed payable 100% at sight of Ocean Bill of Lading. LC must be issued on monthly amount delivery and confirmed by 50 world top bank.
6. Procedure
1) Soft Offer form seller’s mandate
2) LOI, BCL or ICPO with full bank data, soft probe from buyer. 3) Seller issues FCO and draft contract
4) Buyer and seller negotiate FCO, draft contract, sign each other
5) Buyer and seller exchange hard contract, keep each other after signature. 6) Buyer open non operative LC within 10 banking days after signed hard contract
7) Seller put 2% PB and POP within 10 banking days to buyer's bank after getting non operative LC
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