Kline Freight Forwarder

PRODUCT: SOYBEAN GMO GRADE # 2
ORIGIN: BRAZIL
QUANTITY: 100.000 MT x 12 /Months = 1.200.000 MT/Per year
CONTRACT: 12 MONTHS
DESTINATION: CIF CHINAPORT
PACKING: PP BAG 50 KGS
PRICE: USD 417.00/MT
PAYMENT TERMS: IRDLC Irrevocable, Revolving, Transferrable, Divisible

PROCEDURES
01. BUYER ISSUES AN ICPO + BCL / RWA
02. SELLER SENDS THE SPA TO BUYER.
03. BOTH THE SELLER’S AND BUYER’S REPRESENTATIVES
WILL EXCHANGE AND DULLY SIGN THE NCNDA.
04. BUYER SENDS THE SPA DULLY SIGNED AND SEALED TO SELLER.
05. THE SELLER SIGNS THE CONTRACT AND RETURNS IT TO THE BUYER;
06. BUYER AND SELLER DEPOSIT A COPY OF THE SIGNED CONTRACT TO THEIR RESPECTIVE BANKS;
07. THE BUYER’S BANK SENDS TO THE SELLER’S BANK WITHIN 5 (FIVE) BANKING DAYS, AN OPERATIVE FINANCIAL INSTRUMENT (DLC / SBLC) IRREVOCABLE, TRANSFERABLE, OPERATIVE, AND UNCONDITIONAL BY SWIFT MT720 OR MT 760, FROM A TOP 50 BANK.
08. ONCE THE FUNDS HAVE BEEN CONFIRMED BY THE SELLER’S BANK, THE SELLER STARTS THE PERFORMANCE OF THE CONTRACT;
09. VIA BANK TO BANK, THE SELLER’S BANK SENDS THE PROOF OF PRODUCT (POP);
10. WITHIN 5 (FIVE) BANKING DAYS, THE SELLER’S BANK SENDS THE 2% PERFORMANCE BOND
11. SHIPMENTS ARE TO START WITHIN 30 / 40 DAYS AFTER THE BUYER’S BANK RELEASES THE FINANCIAL INSTRUMENTS TO THE SELLER’S BANK;
12. ONCE THE SGS INSPECTION IS PERFORMED; THE PAYMENT OF THE GOODS WILL BE RELEASED BY MT 103

PAYMENT TERMS: IRDLC/MT700
1-Payment shall be made by an Irrevocable, Revolving, Transferrable, Divisible, Documentary Letter of Credit (IRDLC/MT700), issued from A top 50 World Bank.
2- IRDLC shall be payable at sight by the seller’s bank for each shipment after loading and upon submission of shipping documents stipulated in Clause of contract by the Seller to his bank.
3- A copy of IRDLC shall be sent to the Seller and Seller’s bank for approval prior to issuance.
4- The maturity date of IRDLC shall be date on which the full value of the credit is payable.
5- The buyer must ensure IRDLC is drafted without any built-in discrepancies to avoid intentionally delaying payment.
6- IRDLC shall be subject to the latest version of the uniform rules of documentary credits, UCP 600

All Bank charges from the BUYER’s Bank are the BUYER’s responsibility.
Buyer will pay for the Goods by SWIFT (MT-103), at loading port against original shipping documents.