Procedures

Non Negotiable
 

1. Buyer issues Irrevocable Corporate Purchase Order “ICPO” with complete banking references, Company Profile (CP), Company Registration, Copy of Buyer’s authorized signatory’s Passport, and RWA Letter signed by two of buyer’s bank officers and issued to seller’s name, which stipulates that Buyer's  RWA to issue financial instrument (SBLC) for payment guarantee of goods ordered, MT760.
 

2. On receipt of the buyer’s ICPO and RWA Letter, the seller issues (amendable) draft Contract (SPA)and a copy of the  Proforma Invoice (PI) in favor of the buyer and NCND/IMFPA completed by Seller’s Mandate/Broker; Seller issues POP package to buyer.
 

3. Buyer returns to seller the signed and sealed Proforma Invoice and the SPA along with the IMFPA/NCNDA completed and signed by the Buyer, Buyer’s Facilitator/ Buyer Mandate Group, and all Intermediaries. 
 

4. Seller issues approved, countersigned, and sealed SPA which now incorporates the NCNDA/IMFPA as an Annexure within the SPA document. Both buyer and seller lodge the legalized SPA contracts in their respective Banks.
 

5. Buyer verifies and if satisfied with the outcome,  issues inoperative, transferable / Non-transferable SBLC/DLC