SELLER’S PROCEDURES – NON NEGOTIABLE

Start. Buyer sends LOI/ICPO with CIS/KYC File and Bank Details duly completed and signed. We at Legacy Negócios, will issue a Offer with the offer and all the Seller's Terms and Procedures. Note: If the buyer agrees, they must sign this Offer and return it to continue with the remaining documentation, for compliance by seller

1. After Compliance approval, the FCO-Full Corporate Offer is send with all banking directions and instructions to the Buyer, who must analyze it carefully and, if in agreement with the terms and procedures, return it signed to the Seller.

2. Within 5 (five) business days after the electronic signature of all parts of the FCO, the Buyer will send the Proof of Funds which may be a BCL or RWA with bank liability, obligatorily via Bank to Bank through the Global Swift System, as this is the only format accepted by the seller's banks.

3. After verification of the Buyer’s Proof of Funds through Bank, the seller will issue your SPA open for small amendments, if necessary, as usually everything is as outlined in FCO and sends it for review to the Buyer.

4. The Seller through your Bank or Lawyer will within 5 Days after approval of the Clients POF send the following Proof of Product - POP Documents to the Buyer

·       CERTIFICATE OF ORIGN

·        COMMITMENT TO SUPPLY CERTIFIED BY A NOTARY PUBLIC

·        PROOF OF PRODUCT EXIST STATEMENT CERTIFIED BY A NOTARY PUBLIC

5. The buyer makes his amendments, sends them back to the seller and seller prepares final SPA which includes the accepted adjustments and revert to buyer.

6. If the buyer agrees, the seller starts DocuSign or familiar electronic system fixing the final SPA version for the signature of all parties involved.

7. After SPA has been signed by all Parties, Buyer issues Financial Instrument, within 5 – 7 Bank Business Days or what was agreed and concluded to The Seller named Bank account as per the Commercial Invoice.

8. As soon as Financial Instrument is received and verified from seller`s bank The Seller will issue Performance Bond of 2% max. 5 days after verifying the instrument through the Bank.

9. Within 20 – 30 Business Days logistics starts, and transportation, Packaging, Inspection, Loading, and shipping will commence.

10. The Seller will send in due Time invitation Letter to the Buyer to be present if wanted for Inspection and Loading.

11. The Seller will send complete original shipping documents to Buyer’s bank via their bank and email copy of original shipping documents to the buyer.

12. Buyer instructs his bank for payment per supply when getting the agreed documents and payment must be received on seller`s bank account latest within 2 banking days.

13. As soon as seller`s bank confirms that payment is cleared in our bank account ownership of each supply changes with immediate Effect and a Certificate of Title Transfer will be issued.

14. Procedure repeats until contract settled and seller pays intermediaries involved preferred through a paymaster.

SELLER’S PROCEDURE, CIF

1.  Buyer’s issues official Letter of Intent – LOI.

2.  Seller's issues official Soft Corporate Offer - SCO.

3.  Buyer Issues its (I.C.P.O.) in line with seller's procedure

4.  Upon Seller review and acceptance of the (I.C.P.O.), seller issues MOU to yearly contract supply (SPA Draft).

5.  After the signing of the SPA contract by the parties, seller register the product contract in OFAC. Seller issues Proforma Invoice.

6.  Buyer issues the MT199 RWA to issue a financial guarantee to cover the value of the first shipment to seller’s Bank.

7.  Upon receipt (POF), Seller issues to buyer the following beneficiary certificates below:

a.     Certificate of Origin

b.     Certificate of quality and quantity

c.      Certificate of analysis

8. Buyer issues the financial guarantee to cover the value of the first shipment to seller’s bank to seller’s bank. The Seller’s Bank issues for the Contract 2,0% Performance Bond, not PB for Trial

9. Upon confirmation of Buyer’s guarantee, Seller will issue the full POP and shipping documents and send to the Buyer as below:

a.     Product allocation export permit

b.     Allocation tittle ownership certificate

c.     Port Storage Agreement

d.    SGS Q&Q (Quantity & Quality) certificate

e.   Bill of Lading

f.     ETA of vessel

g.   Vessel questionnarie Q88.

10. Shipment commences and upon arrival of the vessel tanker to discharge port. Buyer conducts SGS or similar inspection team within (1) day and makes operative payment. All deliveries will be paid within (3) days upon vessel arrival and Q&Q verified at port of destination

11. Seller’s Bank pays commissions to all intermediaries involved into the transaction.

SELLER´S PROCEDURE - FOB PROCEDURES - TTV // TTT // 

1. Buyer´s issues official Letter of Intent – LOI.

2. Seller's issues official Soft Corporate Offer - SCO.

3. Buyer Issues its (I.C.P.O.) in line with

4. The buyer Issues an Irrevocable Corporate Purchase Order.

5. The seller issues draft contract.

6. Both parties confirm draft contract and signed it.

7. Seller Register the Product contract in OFAC. Seller issues Commercial Invoice.

8. Buyer signs the Commercial Invoice and returns it to the Seller.

9. The Buyer shall provide Proof of Funds through a SWIFT communication (MT199, MT799, BCL, or RWA), to be transmitted directly to the Seller’s designated bank. Such communication shall serve to evidence the Buyer’s financial capacity to issue a banking guarantee covering the value of the first shipment under this Agreement

10. Seller issues to buyer the Proof of product documents (PPOP) following beneficiary certificates below:

a. Commitment to Supply

b. Product-specific OFAC code.

c. Statement of Product availability

d. Certifícate of Origin

e. Export Certifícate.

11. The Buyer's bank issues for first delivery Documentary Letter of Credit (DLC) MT-700 or stand By Letter of Credit (SBLC) MT760. Based on the approval of the draft DLC or SBLC, the current DLC MT-700 or MT760 must be submitted within 10 business days of signing the SPA. Failure to issue it by this date will result in the Buyer losing the agreed-upon supply quantity.

12. The Seller schedules the order for shipment. The Seller issues a 2% performance bond or equivalent insurance.

13. The Buyer sends the TSA (or tank’s contact) to the Seller.

14.  Seller issues the Full POP and shipping documents and send to the Buyer as show below:

a.- Product passport and all export documents.

b.- Allocation title ownership certificate.

c.- Port Storage Agreement.

d.- Fresh SGS Q&Q (Quantity and Quality) certificate.

e.- Injection Report.

f.- Dip Test Authorization (DTA).

g.- Authorization to Verify (ATV).

15. The Buyer undertakes to carry out the inspection through SGS or another internationally recognized inspection company within one (1) business day from the vessel’s arrival at the port of destination. The Buyer further undertakes to make the corresponding payment within three (3) business days following the vessel’s arrival. The Buyer shall bear full responsibility for the verification of quality at the port of destination.

16. Seller's Bank pays commissions to all the intermediaries involved into the transaction